PITCHER: 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.
PITCHER
Largest movements
- Stocks and contracts +€3,281
up €3,281 (+230.4%), from €1,424 to €4,705
- Receivables within one year -€1,394
down €1,394 (-36.4%), from €3,828 to €2,435
of which Other amounts receivable: -€1,675
- Deferred charges and accrued income -€1,236
down €1,236 (-20.5%), from €6,015 to €4,779
- Cash -€957
down €957 (-13.5%), from €7,084 to €6,127
mainly Net result for the year (-€16,995) and Stocks and contracts (-€3,281)
- Tangible fixed assets +€843
new in 2025: €843
- Profit (loss) carried forward -€16,995
down €16,995 (-381.3%), from -€4,458 to -€21,453
- Other debts +€16,000
new in 2025: €16,000
- Trade debts +€1,532
up €1,532 (+189.2%), from €810 to €2,341
- Gross operating margin -€10,611
down €10,611 (-246.2%), from -€4,310 to -€14,921
- Financial charges +€1,048
up €1,048 (+709.4%), from €148 to €1,196
- Other operating charges +€714
new in 2025: €714
- Depreciation +€164
new in 2025: €164
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 | €18,352 | €18,888 | +€537 | +2.9% |
| Fixed assets | 21/28 | - | €843 | +€843 | |
| Tangible fixed assets | 22/27 | - | €843 | +€843 | |
| Plant, machinery and equipment | 23 | - | €843 | +€843 | |
| Current assets | 29/58 | €18,352 | €18,046 | -€306 | -1.7% |
| Stocks and contracts in progress | 3 | €1,424 | €4,705 | +€3,281 | +230.4% |
| Stocks | 30/36 | €1,424 | €4,705 | +€3,281 | +230.4% |
| Amounts receivable within one year | 40/41 | €3,828 | €2,435 | -€1,394 | -36.4% |
| Trade receivables | 40 | €1,625 | €1,906 | +€281 | +17.3% |
| Other amounts receivable | 41 | €2,203 | €529 | -€1,675 | -76.0% |
| Cash at bank and in hand | 54/58 | €7,084 | €6,127 | -€957 | -13.5% |
| Deferred charges and accrued income | 490/1 | €6,015 | €4,779 | -€1,236 | -20.5% |
| Total equity and liabilities | 10/49 | €18,352 | €18,888 | +€537 | +2.9% |
| Equity | 10/15 | €17,542 | €547 | -€16,995 | -96.9% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,458 | -€21,453 | -€16,995 | -381.3% |
| Amounts payable | 17/49 | €810 | €18,341 | +€17,532 | +2165.7% |
| Amounts payable within one year | 42/48 | €810 | €18,341 | +€17,532 | +2165.7% |
| Trade debts | 44 | €810 | €2,341 | +€1,532 | +189.2% |
| Suppliers | 440/4 | €810 | €2,341 | +€1,532 | +189.2% |
| Other amounts payable | 47/48 | - | €16,000 | +€16,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €164 | +€164 | |
| Other operating charges | 640/8 | - | €714 | +€714 | |
| Gross operating margin | 9900 | -€4,310 | -€14,921 | -€10,611 | -246.2% |
| Operating profit (loss) | 9901 | -€4,310 | -€15,800 | -€11,490 | -266.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €148 | €1,196 | +€1,048 | +709.4% |
| Recurring financial charges | 65 | €148 | €1,196 | +€1,048 | +709.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,458 | -€16,995 | -€12,537 | -281.3% |
| Profit (loss) for the period | 9904 | -€4,458 | -€16,995 | -€12,537 | -281.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,458 | -€16,995 | -€12,537 | -281.3% |
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 3 October 2026 via checked.be.