PITCH: 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.
PITCH
Largest movements
- Receivables within one year +€21,867
up €21,867 (+141.7%), from €15,430 to €37,297
of which Trade receivables: +€21,664
- Deferred charges and accrued income -€10,579
down €10,579 (-91.4%), from €11,576 to €997
- Cash +€2,111
up €2,111 (+21.0%), from €10,074 to €12,185
mainly Trade debts (+€31,139) and Other debts (+€18,356)
- Trade debts +€31,139
up €31,139 (+210.4%), from €14,803 to €45,942
- Profit (loss) carried forward -€25,857
down €25,857 (-18.4%), from -€140,752 to -€166,609
- Other debts +€18,356
up €18,356 (+8.1%), from €226,274 to €244,630
- Tax, wage and social debts -€9,700
down €9,700 (-41.4%), from €23,450 to €13,750
of which Taxes: -€13,026
- Gross operating margin -€15,456
down €15,456 (-47.6%), from €32,458 to €17,002
- Financial charges +€1,495
up €1,495 (+136.8%), from €1,093 to €2,588
- Depreciation -€1,460
down €1,460 (-50.4%), from €2,897 to €1,437
- Staff costs +€1,270
up €1,270 (+3.4%), from €36,843 to €38,113
- Other operating charges -€734
down €734 (-46.8%), from €1,568 to €834
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 | €141,167 | €154,500 | +€13,333 | +9.4% |
| Fixed assets | 21/28 | €6,707 | €5,270 | -€1,437 | -21.4% |
| Tangible fixed assets | 22/27 | €5,607 | €4,170 | -€1,437 | -25.6% |
| Plant, machinery and equipment | 23 | €4,428 | €3,173 | -€1,255 | -28.3% |
| Furniture and vehicles | 24 | €1,179 | €997 | -€182 | -15.4% |
| Financial fixed assets | 28 | €1,100 | €1,100 | = | 0.0% |
| Current assets | 29/58 | €134,460 | €149,230 | +€14,770 | +11.0% |
| Stocks and contracts in progress | 3 | €97,380 | €98,751 | +€1,371 | +1.4% |
| Stocks | 30/36 | €97,380 | €98,751 | +€1,371 | +1.4% |
| Amounts receivable within one year | 40/41 | €15,430 | €37,297 | +€21,867 | +141.7% |
| Trade receivables | 40 | €15,423 | €37,087 | +€21,664 | +140.5% |
| Other amounts receivable | 41 | €7 | €210 | +€203 | +2900.0% |
| Cash at bank and in hand | 54/58 | €10,074 | €12,185 | +€2,111 | +21.0% |
| Deferred charges and accrued income | 490/1 | €11,576 | €997 | -€10,579 | -91.4% |
| Total equity and liabilities | 10/49 | €141,167 | €154,500 | +€13,333 | +9.4% |
| Equity | 10/15 | -€124,061 | -€149,918 | -€25,857 | -20.8% |
| Contributions | 10/11 | €14,600 | €14,600 | = | 0.0% |
| Reserves | 13 | €2,091 | €2,091 | = | 0.0% |
| Non-distributable reserves | 130/1 | €339 | €339 | = | 0.0% |
| Reserves not available under the articles | 1311 | €339 | €339 | = | 0.0% |
| Distributable reserves | 133 | €1,752 | €1,752 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€140,752 | -€166,609 | -€25,857 | -18.4% |
| Amounts payable | 17/49 | €265,228 | €304,418 | +€39,190 | +14.8% |
| Amounts payable within one year | 42/48 | €264,527 | €304,322 | +€39,795 | +15.0% |
| Trade debts | 44 | €14,803 | €45,942 | +€31,139 | +210.4% |
| Suppliers | 440/4 | €14,803 | €45,942 | +€31,139 | +210.4% |
| Taxes, remuneration and social security | 45 | €23,450 | €13,750 | -€9,700 | -41.4% |
| Taxes | 450/3 | €14,214 | €1,188 | -€13,026 | -91.6% |
| Remuneration and social security | 454/9 | €9,236 | €12,562 | +€3,326 | +36.0% |
| Other amounts payable | 47/48 | €226,274 | €244,630 | +€18,356 | +8.1% |
| Accrued charges and deferred income | 492/3 | €701 | €96 | -€605 | -86.3% |
| Remuneration, social security and pensions | 62 | €36,843 | €38,113 | +€1,270 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,897 | €1,437 | -€1,460 | -50.4% |
| Other operating charges | 640/8 | €1,568 | €834 | -€734 | -46.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €32,458 | €17,002 | -€15,456 | -47.6% |
| Operating profit (loss) | 9901 | -€8,850 | -€23,382 | -€14,532 | -164.2% |
| Financial income | 75/76B | €27 | €113 | +€86 | +318.5% |
| Recurring financial income | 75 | €27 | €113 | +€86 | +318.5% |
| Financial charges | 65/66B | €1,093 | €2,588 | +€1,495 | +136.8% |
| Recurring financial charges | 65 | €1,093 | €2,588 | +€1,495 | +136.8% |
| Profit (loss) for the period before taxes | 9903 | -€9,916 | -€25,857 | -€15,941 | -160.8% |
| Profit (loss) for the period | 9904 | -€9,916 | -€25,857 | -€15,941 | -160.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,916 | -€25,857 | -€15,941 | -160.8% |
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 4 October 2026 via checked.be.