PITZ & PARTNERS: 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.
PITZ & PARTNERS
Largest movements
- Cash -€18,473
down €18,473 (-55.1%), from €33,501 to €15,028
mainly Receivables within one year (-€10,783) and Investment in fixed assets (net) (-€8,334)
- Receivables within one year +€10,783
up €10,783 (+20.4%), from €52,922 to €63,705
of which Trade receivables: +€12,436
- Deferred charges and accrued income +€4,658
up €4,658 (+83.4%), from €5,585 to €10,243
- Profit (loss) carried forward +€280,243
no longer reported in 2025 (was -€280,243)
- Reserves -€278,670
down €278,670 (-88.7%), from €314,098 to €35,428
- Current portion of long-term debt -€7,681
down €7,681 (-82.0%), from €9,369 to €1,688
- Trade debts +€2,257
up €2,257 (+763%), from €296 to €2,553
- Tax, wage and social debts -€1,590
down €1,590 (-4.6%), from €34,745 to €33,155
of which Taxes: -€1,300
- Gross operating margin -€7,384
down €7,384 (-7.8%), from €94,893 to €87,509
- Staff costs +€5,441
up €5,441 (+8.1%), from €67,318 to €72,759
- Taxes -€2,010
down €2,010 (-48.1%), from €4,181 to €2,171
- Depreciation -€1,197
down €1,197 (-11.3%), from €10,575 to €9,378
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 | €141,367 | €137,291 | -€4,076 | -2.9% |
| Fixed assets | 21/28 | €9,359 | €8,315 | -€1,044 | -11.2% |
| Tangible fixed assets | 22/27 | €8,159 | €7,115 | -€1,044 | -12.8% |
| Plant, machinery and equipment | 23 | €728 | €3,142 | +€2,414 | +332% |
| Furniture and vehicles | 24 | €7,431 | €3,973 | -€3,458 | -46.5% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €132,008 | €128,976 | -€3,032 | -2.3% |
| Amounts receivable within one year | 40/41 | €52,922 | €63,705 | +€10,783 | +20.4% |
| Trade receivables | 40 | €47,535 | €59,971 | +€12,436 | +26.2% |
| Other amounts receivable | 41 | €5,387 | €3,734 | -€1,653 | -30.7% |
| Current investments | 50/53 | €40,000 | €40,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €33,501 | €15,028 | -€18,473 | -55.1% |
| Deferred charges and accrued income | 490/1 | €5,585 | €10,243 | +€4,658 | +83.4% |
| Total equity and liabilities | 10/49 | €141,367 | €137,291 | -€4,076 | -2.9% |
| Equity | 10/15 | €96,312 | €97,885 | +€1,573 | +1.6% |
| Contributions | 10/11 | €62,457 | €62,457 | = | 0.0% |
| Reserves | 13 | €314,098 | €35,428 | -€278,670 | -88.7% |
| Distributable reserves | 133 | €314,098 | €35,428 | -€278,670 | -88.7% |
| Profit (loss) carried forward | 14 | -€280,243 | - | +€280,243 | |
| Amounts payable | 17/49 | €45,055 | €39,406 | -€5,649 | -12.5% |
| Amounts payable within one year | 42/48 | €45,055 | €39,406 | -€5,649 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €9,369 | €1,688 | -€7,681 | -82.0% |
| Trade debts | 44 | €296 | €2,553 | +€2,257 | +763% |
| Suppliers | 440/4 | €296 | €2,553 | +€2,257 | +763% |
| Taxes, remuneration and social security | 45 | €34,745 | €33,155 | -€1,590 | -4.6% |
| Taxes | 450/3 | €24,504 | €23,204 | -€1,300 | -5.3% |
| Remuneration and social security | 454/9 | €10,241 | €9,951 | -€290 | -2.8% |
| Other amounts payable | 47/48 | €645 | €2,010 | +€1,365 | +212% |
| Remuneration, social security and pensions | 62 | €67,318 | €72,759 | +€5,441 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,575 | €9,378 | -€1,197 | -11.3% |
| Other operating charges | 640/8 | €30 | €288 | +€258 | +860% |
| Non-recurring operating charges | 66A | - | €1,175 | +€1,175 | |
| Gross operating margin | 9900 | €94,893 | €87,509 | -€7,384 | -7.8% |
| Operating profit (loss) | 9901 | €16,970 | €3,909 | -€13,061 | -77.0% |
| Financial income | 75/76B | €116 | €175 | +€59 | +50.9% |
| Recurring financial income | 75 | €116 | €175 | +€59 | +50.9% |
| Financial charges | 65/66B | €632 | €340 | -€292 | -46.2% |
| Recurring financial charges | 65 | €632 | €340 | -€292 | -46.2% |
| Profit (loss) for the period before taxes | 9903 | €16,454 | €3,744 | -€12,710 | -77.2% |
| Income taxes | 67/77 | €4,181 | €2,171 | -€2,010 | -48.1% |
| Profit (loss) for the period | 9904 | €12,273 | €1,573 | -€10,700 | -87.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,273 | €1,573 | -€10,700 | -87.2% |
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 14 October 2026 via checked.be.