Pistor: what changed
Two fiscal 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.
Pistor
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+93.9%), from €1.2m to €2.3m
of which Land and buildings: +€1.9m
- Cash +€47,369
up €47,369 (+691.8%), from €6,847 to €54,216
mainly Other debts (+€732,560) and Debts after one year (+€361,352)
- Deferred charges and accrued income +€47,215
up €47,215 (+2761.6%), from €1,710 to €48,925
- Receivables within one year +€42,375
up €42,375 (+1938.3%), from €2,186 to €44,561
of which Trade receivables: +€44,079
- Other debts +€732,560
up €732,560 (+200.4%), from €365,482 to €1.1m
- Debts after one year +€361,352
up €361,352 (+52.1%), from €693,022 to €1.1m
- Profit (loss) carried forward +€59,173
up €59,173, from -€52,794 to €6,379
- Trade debts +€59,019
new in 2025: €59,019
- Current portion of long-term debt +€41,821
new in 2025: €41,821
- Gross operating margin +€103,600
up €103,600, from -€2,875 to €100,725
- Depreciation -€55,989
down €55,989 (-97.9%), from €57,181 to €1,192
- Financial charges +€24,240
up €24,240 (+6340.2%), from €382 to €24,623
- Other operating charges +€22,269
up €22,269 (+886.4%), from €2,512 to €24,781
- Financial income -€1,111
down €1,111 (-10.9%), from €10,156 to €9,044
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 | €1,208,751 | €2,468,291 | +€1.3m | +104.2% |
| Formation expenses | 20 | €1,838 | €1,322 | -€516 | -28.1% |
| Fixed assets | 21/28 | €1,196,171 | €2,319,267 | +€1.1m | +93.9% |
| Tangible fixed assets | 22/27 | €1,196,171 | €2,319,267 | +€1.1m | +93.9% |
| Land and buildings | 22 | €430,000 | €2,319,267 | +€1.9m | +439.4% |
| Assets under construction and advance payments | 27 | €766,171 | €0 | -€766,171 | -100.0% |
| Current assets | 29/58 | €10,743 | €147,702 | +€136,960 | +1274.9% |
| Amounts receivable within one year | 40/41 | €2,186 | €44,561 | +€42,375 | +1938.3% |
| Trade receivables | 40 | €482 | €44,561 | +€44,079 | +9147.4% |
| Other amounts receivable | 41 | €1,704 | €0 | -€1,704 | -100.0% |
| Cash at bank and in hand | 54/58 | €6,847 | €54,216 | +€47,369 | +691.8% |
| Deferred charges and accrued income | 490/1 | €1,710 | €48,925 | +€47,215 | +2761.6% |
| Total equity and liabilities | 10/49 | €1,208,751 | €2,468,291 | +€1.3m | +104.2% |
| Equity | 10/15 | €147,206 | €206,379 | +€59,173 | +40.2% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,794 | €6,379 | +€59,173 | |
| Amounts payable | 17/49 | €1,061,546 | €2,261,912 | +€1.2m | +113.1% |
| Amounts payable after more than one year | 17 | €693,022 | €1,054,374 | +€361,352 | +52.1% |
| Financial debts | 170/4 | €693,022 | €1,054,374 | +€361,352 | +52.1% |
| Amounts payable within one year | 42/48 | €365,482 | €1,198,882 | +€833,400 | +228.0% |
| Current portion of amounts payable after more than one year | 42 | - | €41,821 | +€41,821 | |
| Trade debts | 44 | - | €59,019 | +€59,019 | |
| Suppliers | 440/4 | - | €59,019 | +€59,019 | |
| Other amounts payable | 47/48 | €365,482 | €1,098,041 | +€732,560 | +200.4% |
| Accrued charges and deferred income | 492/3 | €3,041 | €8,656 | +€5,615 | +184.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,181 | €1,192 | -€55,989 | -97.9% |
| Other operating charges | 640/8 | €2,512 | €24,781 | +€22,269 | +886.4% |
| Gross operating margin | 9900 | -€2,875 | €100,725 | +€103,600 | |
| Operating profit (loss) | 9901 | -€62,568 | €74,752 | +€137,320 | |
| Financial income | 75/76B | €10,156 | €9,044 | -€1,111 | -10.9% |
| Recurring financial income | 75 | €10,156 | €9,044 | -€1,111 | -10.9% |
| Financial charges | 65/66B | €382 | €24,623 | +€24,240 | +6340.2% |
| Recurring financial charges | 65 | €382 | €24,623 | +€24,240 | +6340.2% |
| Profit (loss) for the period before taxes | 9903 | -€52,794 | €59,173 | +€111,968 | |
| Profit (loss) for the period | 9904 | -€52,794 | €59,173 | +€111,968 | |
| Profit (loss) for the period to be appropriated | 9905 | -€52,794 | €59,173 | +€111,968 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.