Pitou: 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.
Pitou
Largest movements
- Receivables within one year +€14,911
up €14,911 (+102.3%), from €14,571 to €29,482
of which Other amounts receivable: +€13,827
- Tangible fixed assets -€14,596
down €14,596 (-17.5%), from €83,376 to €68,781
of which Plant, machinery and equipment: -€11,278
- Intangible fixed assets -€6,500
down €6,500 (-12.5%), from €52,000 to €45,500
- Debts after one year -€33,500
down €33,500 (-25.1%), from €133,270 to €99,770
- Tax, wage and social debts +€14,433
up €14,433 (+37.8%), from €38,181 to €52,613
of which Taxes: +€15,283
- Profit (loss) carried forward +€6,700
up €6,700 (+16.4%), from -€40,831 to -€34,131
- Trade debts +€6,676
up €6,676 (+14.9%), from €44,787 to €51,463
- Other debts -€2,330
no longer reported in 2025 (was €2,330)
- Gross operating margin -€57,764
down €57,764 (-22.9%), from €251,914 to €194,150
- Staff costs -€54,352
down €54,352 (-25.2%), from €215,260 to €160,908
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 | €202,737 | €194,717 | -€8,021 | -4.0% |
| Fixed assets | 21/28 | €150,976 | €129,881 | -€21,096 | -14.0% |
| Intangible fixed assets | 21 | €52,000 | €45,500 | -€6,500 | -12.5% |
| Tangible fixed assets | 22/27 | €83,376 | €68,781 | -€14,596 | -17.5% |
| Plant, machinery and equipment | 23 | €37,099 | €25,822 | -€11,278 | -30.4% |
| Furniture and vehicles | 24 | €46,277 | €42,959 | -€3,318 | -7.2% |
| Financial fixed assets | 28 | €15,600 | €15,600 | = | 0.0% |
| Current assets | 29/58 | €51,761 | €64,836 | +€13,075 | +25.3% |
| Stocks and contracts in progress | 3 | €11,744 | €10,231 | -€1,513 | -12.9% |
| Stocks | 30/36 | €11,744 | €10,231 | -€1,513 | -12.9% |
| Amounts receivable within one year | 40/41 | €14,571 | €29,482 | +€14,911 | +102.3% |
| Trade receivables | 40 | €14,571 | €15,655 | +€1,084 | +7.4% |
| Other amounts receivable | 41 | - | €13,827 | +€13,827 | |
| Cash at bank and in hand | 54/58 | €25,446 | €25,123 | -€324 | -1.3% |
| Total equity and liabilities | 10/49 | €202,737 | €194,717 | -€8,021 | -4.0% |
| Equity | 10/15 | -€15,831 | -€9,131 | +€6,700 | +42.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,831 | -€34,131 | +€6,700 | +16.4% |
| Amounts payable | 17/49 | €218,568 | €203,847 | -€14,721 | -6.7% |
| Amounts payable after more than one year | 17 | €133,270 | €99,770 | -€33,500 | -25.1% |
| Financial debts | 170/4 | €133,270 | €99,770 | -€33,500 | -25.1% |
| Amounts payable within one year | 42/48 | €85,298 | €104,077 | +€18,779 | +22.0% |
| Trade debts | 44 | €44,787 | €51,463 | +€6,676 | +14.9% |
| Suppliers | 440/4 | €44,787 | €51,463 | +€6,676 | +14.9% |
| Taxes, remuneration and social security | 45 | €38,181 | €52,613 | +€14,433 | +37.8% |
| Taxes | 450/3 | €20,775 | €36,058 | +€15,283 | +73.6% |
| Remuneration and social security | 454/9 | €17,405 | €16,555 | -€850 | -4.9% |
| Other amounts payable | 47/48 | €2,330 | - | -€2,330 | |
| Non-recurring operating income | 76A | - | €128 | +€128 | |
| Remuneration, social security and pensions | 62 | €215,260 | €160,908 | -€54,352 | -25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,922 | €23,642 | -€1,280 | -5.1% |
| Other operating charges | 640/8 | €294 | €1,148 | +€854 | +290.7% |
| Gross operating margin | 9900 | €251,914 | €194,150 | -€57,764 | -22.9% |
| Operating profit (loss) | 9901 | €11,438 | €8,452 | -€2,986 | -26.1% |
| Financial income | 75/76B | €64 | €1 | -€63 | -98.8% |
| Recurring financial income | 75 | €64 | €1 | -€63 | -98.8% |
| Financial charges | 65/66B | €603 | €1,753 | +€1,150 | +190.6% |
| Recurring financial charges | 65 | €603 | €1,753 | +€1,150 | +190.6% |
| Profit (loss) for the period before taxes | 9903 | €10,899 | €6,700 | -€4,199 | -38.5% |
| Profit (loss) for the period | 9904 | €10,899 | €6,700 | -€4,199 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,899 | €6,700 | -€4,199 | -38.5% |
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.