PITTEN & BONEN: what changed
Two financial 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.
PITTEN & BONEN
Largest movements
- Current investments +€22,000
up €22,000 (+40.0%), from €55,000 to €77,000
- Tangible fixed assets -€16,559
down €16,559 (-20.9%), from €79,384 to €62,825
- Receivables within one year +€11,373
up €11,373 (+18.9%), from €60,069 to €71,441
of which Other amounts receivable: +€11,510
- Cash -€8,050
down €8,050 (-15.0%), from €53,499 to €45,449
mainly Contributions, distributions and other (-€39,174) and Current investments (-€22,000)
- Other debts +€37,313
new in 2025: €37,313
- Reserves -€11,418
down €11,418 (-6.3%), from €180,611 to €169,192
- Debts after one year -€5,664
down €5,664 (-31.8%), from €17,793 to €12,129
- Tax, wage and social debts -€5,049
down €5,049 (-29.1%), from €17,367 to €12,318
of which Remuneration and social security: -€5,452
- Trade debts -€3,684
down €3,684 (-51.1%), from €7,203 to €3,519
- Staff costs +€26,462
up €26,462 (+18.5%), from €142,739 to €169,201
- Gross operating margin +€17,119
up €17,119 (+8.1%), from €210,224 to €227,342
- Financial charges +€5,033
up €5,033 (+683%), from €737 to €5,770
- Taxes -€4,434
down €4,434 (-27.2%), from €16,296 to €11,863
- Provisions +€3,800
up €3,800, from -€3,800 to €0
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.
Derived cash bridge
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 | €250,701 | €260,927 | +€10,225 | +4.1% |
| Fixed assets | 21/28 | €79,384 | €62,825 | -€16,559 | -20.9% |
| Tangible fixed assets | 22/27 | €79,384 | €62,825 | -€16,559 | -20.9% |
| Land and buildings | 22 | €35,033 | €32,557 | -€2,476 | -7.1% |
| Plant, machinery and equipment | 23 | €16,928 | €10,450 | -€6,478 | -38.3% |
| Furniture and vehicles | 24 | €27,423 | €19,818 | -€7,605 | -27.7% |
| Current assets | 29/58 | €171,318 | €198,102 | +€26,784 | +15.6% |
| Stocks and contracts in progress | 3 | €2,750 | €2,680 | -€70 | -2.5% |
| Stocks | 30/36 | €2,750 | €2,680 | -€70 | -2.5% |
| Amounts receivable within one year | 40/41 | €60,069 | €71,441 | +€11,373 | +18.9% |
| Trade receivables | 40 | €436 | €298 | -€138 | -31.6% |
| Other amounts receivable | 41 | €59,633 | €71,143 | +€11,510 | +19.3% |
| Current investments | 50/53 | €55,000 | €77,000 | +€22,000 | +40.0% |
| Cash at bank and in hand | 54/58 | €53,499 | €45,449 | -€8,050 | -15.0% |
| Deferred charges and accrued income | 490/1 | €0 | €1,531 | +€1,531 | |
| Total equity and liabilities | 10/49 | €250,701 | €260,927 | +€10,225 | +4.1% |
| Equity | 10/15 | €202,925 | €189,646 | -€13,280 | -6.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €180,611 | €169,192 | -€11,418 | -6.3% |
| Distributable reserves | 133 | €180,611 | €169,192 | -€11,418 | -6.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Investment grants | 15 | €3,723 | €1,861 | -€1,861 | -50.0% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Amounts payable | 17/49 | €47,776 | €71,281 | +€23,505 | +49.2% |
| Amounts payable after more than one year | 17 | €17,793 | €12,129 | -€5,664 | -31.8% |
| Financial debts | 170/4 | €17,793 | €12,129 | -€5,664 | -31.8% |
| Amounts payable within one year | 42/48 | €29,983 | €59,152 | +€29,169 | +97.3% |
| Current portion of amounts payable after more than one year | 42 | €5,413 | €5,664 | +€251 | +4.6% |
| Financial debts | 43 | - | €338 | +€338 | |
| Credit institutions | 430/8 | - | €338 | +€338 | |
| Trade debts | 44 | €7,203 | €3,519 | -€3,684 | -51.1% |
| Suppliers | 440/4 | €7,203 | €3,519 | -€3,684 | -51.1% |
| Taxes, remuneration and social security | 45 | €17,367 | €12,318 | -€5,049 | -29.1% |
| Taxes | 450/3 | €2,632 | €3,036 | +€403 | +15.3% |
| Remuneration and social security | 454/9 | €14,735 | €9,282 | -€5,452 | -37.0% |
| Other amounts payable | 47/48 | - | €37,313 | +€37,313 | |
| Remuneration, social security and pensions | 62 | €142,739 | €169,201 | +€26,462 | +18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,258 | €16,559 | +€301 | +1.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€3,800 | €0 | +€3,800 | |
| Other operating charges | 640/8 | €1,895 | €1,945 | +€50 | +2.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €210,224 | €227,342 | +€17,119 | +8.1% |
| Operating profit (loss) | 9901 | €53,132 | €39,638 | -€13,494 | -25.4% |
| Financial income | 75/76B | €4,227 | €3,889 | -€338 | -8.0% |
| Recurring financial income | 75 | €4,227 | €3,889 | -€338 | -8.0% |
| Financial charges | 65/66B | €737 | €5,770 | +€5,033 | +683% |
| Recurring financial charges | 65 | €737 | €5,770 | +€5,033 | +683% |
| Profit (loss) for the period before taxes | 9903 | €56,622 | €37,757 | -€18,865 | -33.3% |
| Income taxes | 67/77 | €16,296 | €11,863 | -€4,434 | -27.2% |
| Profit (loss) for the period | 9904 | €40,326 | €25,895 | -€14,431 | -35.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,326 | €25,895 | -€14,431 | -35.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.