PIX RAY ENGINEERING: 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.
PIX RAY ENGINEERING
Largest movements
- Cash +€58,496
up €58,496 (+41.5%), from €141,096 to €199,592
mainly Net result for the year (+€41,722) and Depreciation (+€18,022)
- Tangible fixed assets -€18,022
down €18,022 (-6.4%), from €280,290 to €262,268
of which Land and buildings: -€18,022
- Receivables within one year +€5,928
up €5,928 (+10.0%), from €59,143 to €65,071
- Reserves +€41,722
up €41,722 (+11.7%), from €355,144 to €396,866
of which Distributable reserves: +€41,722
- Gross operating margin +€28,859
up €28,859 (+52.3%), from €55,133 to €83,992
- Taxes +€8,747
up €8,747 (+82.3%), from €10,629 to €19,377
- Financial income +€2,309
up €2,309 (+255.5%), from €904 to €3,213
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 | €513,488 | €561,252 | +€47,764 | +9.3% |
| Fixed assets | 21/28 | €281,571 | €263,549 | -€18,022 | -6.4% |
| Tangible fixed assets | 22/27 | €280,290 | €262,268 | -€18,022 | -6.4% |
| Land and buildings | 22 | €272,474 | €254,452 | -€18,022 | -6.6% |
| Furniture and vehicles | 24 | €7,816 | €7,816 | = | 0.0% |
| Financial fixed assets | 28 | €1,281 | €1,281 | = | 0.0% |
| Current assets | 29/58 | €231,917 | €297,703 | +€65,786 | +28.4% |
| Amounts receivable within one year | 40/41 | €59,143 | €65,071 | +€5,928 | +10.0% |
| Other amounts receivable | 41 | €59,143 | €65,071 | +€5,928 | +10.0% |
| Current investments | 50/53 | €29,827 | €29,827 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €141,096 | €199,592 | +€58,496 | +41.5% |
| Deferred charges and accrued income | 490/1 | €1,851 | €3,213 | +€1,361 | +73.5% |
| Total equity and liabilities | 10/49 | €513,488 | €561,252 | +€47,764 | +9.3% |
| Equity | 10/15 | €492,971 | €534,693 | +€41,722 | +8.5% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Outside capital | 11 | €123,947 | €123,947 | = | 0.0% |
| Other | 1109/19 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €355,144 | €396,866 | +€41,722 | +11.7% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,395 | €12,395 | = | 0.0% |
| Distributable reserves | 133 | €342,750 | €384,472 | +€41,722 | +12.2% |
| Profit (loss) carried forward | 14 | €13,880 | €13,880 | = | 0.0% |
| Amounts payable | 17/49 | €20,517 | €26,559 | +€6,042 | +29.4% |
| Amounts payable within one year | 42/48 | €20,517 | €24,514 | +€3,997 | +19.5% |
| Trade debts | 44 | €2,534 | €2,867 | +€333 | +13.1% |
| Suppliers | 440/4 | €2,534 | €2,867 | +€333 | +13.1% |
| Taxes, remuneration and social security | 45 | €15,713 | €19,377 | +€3,664 | +23.3% |
| Taxes | 450/3 | €15,713 | €19,377 | +€3,664 | +23.3% |
| Other amounts payable | 47/48 | €2,270 | €2,270 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €2,045 | +€2,045 | |
| Non-recurring operating income | 76A | - | €15,000 | +€15,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,022 | €18,022 | = | 0.0% |
| Other operating charges | 640/8 | €7,773 | €7,914 | +€141 | +1.8% |
| Gross operating margin | 9900 | €55,133 | €83,992 | +€28,859 | +52.3% |
| Operating profit (loss) | 9901 | €29,338 | €58,056 | +€28,718 | +97.9% |
| Financial income | 75/76B | €904 | €3,213 | +€2,309 | +255.5% |
| Recurring financial income | 75 | €904 | €3,213 | +€2,309 | +255.5% |
| Financial charges | 65/66B | €340 | €170 | -€169 | -49.8% |
| Recurring financial charges | 65 | €340 | €170 | -€169 | -49.8% |
| Profit (loss) for the period before taxes | 9903 | €29,902 | €61,098 | +€31,196 | +104.3% |
| Income taxes | 67/77 | €10,629 | €19,377 | +€8,747 | +82.3% |
| Profit (loss) for the period | 9904 | €19,273 | €41,722 | +€22,449 | +116.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,273 | €41,722 | +€22,449 | +116.5% |
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.