PITCH PERFECT: what changed
What changed
PITCH PERFECT
NACE 73.110, Advertising agencies
filed annual accounts (NBB)
Net result for the year
€85,249
2024 · €37,938+€47,310
Equity
€335,137
2024 · €249,889+€85,249
Cash
€12,867
2024 · €11,491+€1,376
Balance sheet total
€809,564
2024 · €756,124+€53,440
Largest movements
Assets
- Current investments +€50,000
up €50,000, from €0 to €50,000
- Tangible fixed assets +€34,022
up €34,022 (+7.2%), from €469,838 to €503,860
of which Land and buildings: +€26,933
- Receivables within one year -€27,783
down €27,783 (-10.9%), from €255,839 to €228,056
of which Other amounts receivable: -€30,052
Equity and liabilities
- Reserves +€85,249
up €85,249 (+36.9%), from €231,289 to €316,537
- Trade debts -€30,210
down €30,210 (-29.9%), from €101,121 to €70,911
- Debts after one year -€25,517
down €25,517 (-7.8%), from €327,471 to €301,954
- Tax, wage and social debts +€23,584
up €23,584 (+49.1%), from €47,993 to €71,577
of which Taxes: +€11,859
Income statement
- Gross operating margin +€80,047
up €80,047 (+17.4%), from €459,927 to €539,974
- Staff costs +€71,523
up €71,523 (+22.9%), from €312,948 to €384,471
- Depreciation -€53,390
down €53,390 (-67.6%), from €78,936 to €25,546
- Taxes +€13,337
up €13,337 (+81.2%), from €16,426 to €29,764
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€37,938
Gross operating margin
+€80,047
Staff costs
-€71,523
Depreciation
+€53,390
Write-downs
+€3,250
Other operating charges
-€579
Financial income
+€533
Financial charges
-€4,469
Taxes
-€13,337
Result 2025
€85,249
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€136,831
Investment
-€110,265
Financing
-€25,191
Cash 2024
€11,491
From operations (derived)
+€136,831
Net result for the year
+€85,249
Depreciation
+€25,546
Receivables within one year
+€27,783
Deferred charges and accrued income
+€4,871
Trade debts
-€30,210
Tax, wage and social debts
+€23,584
Other debts
+€8
Investment (derived)
-€110,265
Investment in fixed assets (net)
-€60,265
Current investments
-€50,000
Financing
-€25,191
Debts after one year
-€25,517
Short-term financial debts
+€327
Cash 2025
€12,867
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €756,124 | €809,564 | +€53,440 | +7.1% |
| Fixed assets | 21/28 | €472,216 | €506,934 | +€34,718 | +7.4% |
| Intangible fixed assets | 21 | €2,378 | €3,074 | +€696 | +29.3% |
| Tangible fixed assets | 22/27 | €469,838 | €503,860 | +€34,022 | +7.2% |
| Land and buildings | 22 | €462,680 | €489,613 | +€26,933 | +5.8% |
| Plant, machinery and equipment | 23 | - | €2,943 | +€2,943 | |
| Furniture and vehicles | 24 | €7,158 | €11,305 | +€4,146 | +57.9% |
| Current assets | 29/58 | €283,908 | €302,630 | +€18,722 | +6.6% |
| Amounts receivable within one year | 40/41 | €255,839 | €228,056 | -€27,783 | -10.9% |
| Trade receivables | 40 | €225,093 | €227,361 | +€2,269 | +1.0% |
| Other amounts receivable | 41 | €30,746 | €694 | -€30,052 | -97.7% |
| Current investments | 50/53 | €0 | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €11,491 | €12,867 | +€1,376 | +12.0% |
| Deferred charges and accrued income | 490/1 | €16,578 | €11,707 | -€4,871 | -29.4% |
| Total equity and liabilities | 10/49 | €756,124 | €809,564 | +€53,440 | +7.1% |
| Equity | 10/15 | €249,889 | €335,137 | +€85,249 | +34.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €231,289 | €316,537 | +€85,249 | +36.9% |
| Distributable reserves | 133 | €231,289 | €316,537 | +€85,249 | +36.9% |
| Amounts payable | 17/49 | €506,235 | €474,427 | -€31,809 | -6.3% |
| Amounts payable after more than one year | 17 | €327,471 | €301,954 | -€25,517 | -7.8% |
| Financial debts | 170/4 | €327,471 | €301,954 | -€25,517 | -7.8% |
| Amounts payable within one year | 42/48 | €178,764 | €172,473 | -€6,291 | -3.5% |
| Current portion of amounts payable after more than one year | 42 | €25,517 | €25,517 | = | 0.0% |
| Financial debts | 43 | €3,763 | €4,090 | +€327 | +8.7% |
| Credit institutions | 430/8 | €3,763 | €4,090 | +€327 | +8.7% |
| Trade debts | 44 | €101,121 | €70,911 | -€30,210 | -29.9% |
| Suppliers | 440/4 | €101,121 | €70,911 | -€30,210 | -29.9% |
| Taxes, remuneration and social security | 45 | €47,993 | €71,577 | +€23,584 | +49.1% |
| Taxes | 450/3 | €7,743 | €19,602 | +€11,859 | +153% |
| Remuneration and social security | 454/9 | €40,250 | €51,975 | +€11,725 | +29.1% |
| Other amounts payable | 47/48 | €370 | €377 | +€8 | +2.1% |
| Non-recurring operating income | 76A | €3,945 | €5,552 | +€1,607 | +40.7% |
| Remuneration, social security and pensions | 62 | €312,948 | €384,471 | +€71,523 | +22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,936 | €25,546 | -€53,390 | -67.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€3,250 | -€3,250 | |
| Other operating charges | 640/8 | €3,346 | €3,925 | +€579 | +17.3% |
| Gross operating margin | 9900 | €459,927 | €539,974 | +€80,047 | +17.4% |
| Operating profit (loss) | 9901 | €64,698 | €129,281 | +€64,584 | +99.8% |
| Financial income | 75/76B | €1,298 | €1,831 | +€533 | +41.1% |
| Recurring financial income | 75 | €1,298 | €1,831 | +€533 | +41.1% |
| Financial charges | 65/66B | €11,631 | €16,100 | +€4,469 | +38.4% |
| Recurring financial charges | 65 | €11,631 | €16,100 | +€4,469 | +38.4% |
| Profit (loss) for the period before taxes | 9903 | €54,365 | €115,012 | +€60,648 | +112% |
| Income taxes | 67/77 | €16,426 | €29,764 | +€13,337 | +81.2% |
| Profit (loss) for the period | 9904 | €37,938 | €85,249 | +€47,310 | +125% |
| Profit (loss) for the period to be appropriated | 9905 | €37,938 | €85,249 | +€47,310 | +125% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.