Pishoudt: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Pishoudt
Largest movements
- Receivables within one year +€19,680
up €19,680 (+62.3%), from €31,613 to €51,293
of which Trade receivables: +€16,168
- Cash -€11,241
down €11,241 (-6.0%), from €186,203 to €174,962
mainly Receivables within one year (-€19,680) and Contributions, distributions and other (-€10,000)
- Tangible fixed assets -€9,620
down €9,620 (-28.8%), from €33,403 to €23,783
of which Furniture and vehicles: -€7,941
- Stocks and contracts -€2,871
down €2,871 (-31.9%), from €9,015 to €6,143
- Reserves -€7,643
down €7,643 (-3.6%), from €213,549 to €205,906
- Trade debts +€6,065
up €6,065 (+30.4%), from €19,960 to €26,025
- Staff costs +€8,015
up €8,015 (+5.9%), from €135,280 to €143,295
- Gross operating margin -€4,761
down €4,761 (-2.9%), from €166,881 to €162,120
- Taxes -€2,002
down €2,002 (-45.4%), from €4,410 to €2,408
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €266,806 | €263,797 | -€3,010 | -1.1% |
| Fixed assets | 21/28 | €33,701 | €24,080 | -€9,620 | -28.5% |
| Tangible fixed assets | 22/27 | €33,403 | €23,783 | -€9,620 | -28.8% |
| Plant, machinery and equipment | 23 | €835 | €484 | -€352 | -42.1% |
| Furniture and vehicles | 24 | €29,580 | €21,639 | -€7,941 | -26.8% |
| Leasing and similar rights | 25 | €2,988 | €1,660 | -€1,328 | -44.4% |
| Financial fixed assets | 28 | €297 | €297 | = | 0.0% |
| Current assets | 29/58 | €233,106 | €239,716 | +€6,610 | +2.8% |
| Stocks and contracts in progress | 3 | €9,015 | €6,143 | -€2,871 | -31.9% |
| Stocks | 30/36 | €9,015 | €6,143 | -€2,871 | -31.9% |
| Amounts receivable within one year | 40/41 | €31,613 | €51,293 | +€19,680 | +62.3% |
| Trade receivables | 40 | €24,953 | €41,121 | +€16,168 | +64.8% |
| Other amounts receivable | 41 | €6,660 | €10,172 | +€3,512 | +52.7% |
| Cash at bank and in hand | 54/58 | €186,203 | €174,962 | -€11,241 | -6.0% |
| Deferred charges and accrued income | 490/1 | €6,276 | €7,319 | +€1,043 | +16.6% |
| Total equity and liabilities | 10/49 | €266,806 | €263,797 | -€3,010 | -1.1% |
| Equity | 10/15 | €232,141 | €224,498 | -€7,643 | -3.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €213,549 | €205,906 | -€7,643 | -3.6% |
| Distributable reserves | 133 | €213,549 | €205,906 | -€7,643 | -3.6% |
| Amounts payable | 17/49 | €34,665 | €39,299 | +€4,633 | +13.4% |
| Amounts payable within one year | 42/48 | €34,665 | €39,299 | +€4,633 | +13.4% |
| Trade debts | 44 | €19,960 | €26,025 | +€6,065 | +30.4% |
| Suppliers | 440/4 | €19,960 | €26,025 | +€6,065 | +30.4% |
| Advances received on contracts in progress | 46 | €60 | - | -€60 | |
| Taxes, remuneration and social security | 45 | €2,335 | €235 | -€2,100 | -89.9% |
| Taxes | 450/3 | €2,335 | €235 | -€2,100 | -89.9% |
| Other amounts payable | 47/48 | €12,311 | €13,039 | +€728 | +5.9% |
| Non-recurring operating income | 76A | - | €60 | +€60 | |
| Remuneration, social security and pensions | 62 | €135,280 | €143,295 | +€8,015 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,515 | €9,620 | -€895 | -8.5% |
| Other operating charges | 640/8 | €3,224 | €3,298 | +€75 | +2.3% |
| Gross operating margin | 9900 | €166,881 | €162,120 | -€4,761 | -2.9% |
| Operating profit (loss) | 9901 | €17,862 | €5,906 | -€11,956 | -66.9% |
| Financial income | 75/76B | €75 | €59 | -€16 | -20.8% |
| Recurring financial income | 75 | €75 | €59 | -€16 | -20.8% |
| Financial charges | 65/66B | €874 | €1,201 | +€327 | +37.4% |
| Recurring financial charges | 65 | €874 | €1,201 | +€327 | +37.4% |
| Profit (loss) for the period before taxes | 9903 | €17,063 | €4,765 | -€12,298 | -72.1% |
| Income taxes | 67/77 | €4,410 | €2,408 | -€2,002 | -45.4% |
| Profit (loss) for the period | 9904 | €12,653 | €2,357 | -€10,296 | -81.4% |
| Profit (loss) for the period to be appropriated | 9905 | €12,653 | €2,357 | -€10,296 | -81.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.