PIXEO: 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.
PIXEO
Largest movements
- Tangible fixed assets +€69,236
up €69,236 (+1,675%), from €4,133 to €73,369
of which Plant, machinery and equipment: +€68,703
- Cash +€18,622
up €18,622 (+21.0%), from €88,470 to €107,092
mainly Debts after one year (+€74,602) and Trade debts (+€27,458)
- Current investments -€8,316
down €8,316 (-26.5%), from €31,427 to €23,111
- Debts after one year +€74,602
up €74,602, from €0 to €74,602
- Trade debts +€27,458
up €27,458 (+533%), from €5,154 to €32,613
- Profit (loss) carried forward -€21,924
new in 2025: -€21,924
- Accrued charges and deferred income -€18,142
down €18,142 (-93.3%), from €19,448 to €1,305
- Tax, wage and social debts +€9,209
up €9,209 (+32.1%), from €28,704 to €37,913
of which Remuneration and social security: +€16,763
- Staff costs +€41,302
up €41,302 (+27.6%), from €149,625 to €190,926
- Gross operating margin -€11,792
down €11,792 (-6.2%), from €189,964 to €178,172
- Taxes -€10,967
down €10,967 (-100%), from €10,967 to €0
- Depreciation +€5,151
up €5,151 (+367%), from €1,403 to €6,555
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 | €233,860 | €312,688 | +€78,828 | +33.7% |
| Fixed assets | 21/28 | €4,133 | €73,369 | +€69,236 | +1,675% |
| Tangible fixed assets | 22/27 | €4,133 | €73,369 | +€69,236 | +1,675% |
| Plant, machinery and equipment | 23 | - | €68,703 | +€68,703 | |
| Furniture and vehicles | 24 | €4,133 | €4,666 | +€533 | +12.9% |
| Current assets | 29/58 | €229,727 | €239,319 | +€9,592 | +4.2% |
| Amounts receivable within one year | 40/41 | €108,853 | €109,115 | +€263 | +0.2% |
| Trade receivables | 40 | €107,120 | €109,115 | +€1,995 | +1.9% |
| Other amounts receivable | 41 | €1,732 | €0 | -€1,732 | -100% |
| Current investments | 50/53 | €31,427 | €23,111 | -€8,316 | -26.5% |
| Cash at bank and in hand | 54/58 | €88,470 | €107,092 | +€18,622 | +21.0% |
| Deferred charges and accrued income | 490/1 | €977 | €0 | -€977 | -100% |
| Total equity and liabilities | 10/49 | €233,860 | €312,688 | +€78,828 | +33.7% |
| Equity | 10/15 | €100,251 | €78,327 | -€21,924 | -21.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €94,051 | €94,051 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €92,191 | €92,191 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€21,924 | -€21,924 | |
| Amounts payable | 17/49 | €133,609 | €234,361 | +€100,752 | +75.4% |
| Amounts payable after more than one year | 17 | €0 | €74,602 | +€74,602 | |
| Financial debts | 170/4 | €0 | €74,602 | +€74,602 | |
| Amounts payable within one year | 42/48 | €114,161 | €158,455 | +€44,293 | +38.8% |
| Current portion of amounts payable after more than one year | 42 | €1,730 | €8,790 | +€7,060 | +408% |
| Trade debts | 44 | €5,154 | €32,613 | +€27,458 | +533% |
| Suppliers | 440/4 | €5,154 | €32,613 | +€27,458 | +533% |
| Taxes, remuneration and social security | 45 | €28,704 | €37,913 | +€9,209 | +32.1% |
| Taxes | 450/3 | €17,316 | €9,762 | -€7,554 | -43.6% |
| Remuneration and social security | 454/9 | €11,388 | €28,151 | +€16,763 | +147% |
| Other amounts payable | 47/48 | €78,573 | €79,139 | +€565 | +0.7% |
| Accrued charges and deferred income | 492/3 | €19,448 | €1,305 | -€18,142 | -93.3% |
| Remuneration, social security and pensions | 62 | €149,625 | €190,926 | +€41,302 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,403 | €6,555 | +€5,151 | +367% |
| Other operating charges | 640/8 | €706 | €657 | -€49 | -6.9% |
| Gross operating margin | 9900 | €189,964 | €178,172 | -€11,792 | -6.2% |
| Operating profit (loss) | 9901 | €38,230 | -€19,966 | -€58,196 | |
| Financial income | 75/76B | €4 | €0 | -€4 | -98.6% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -98.6% |
| Financial charges | 65/66B | €435 | €1,958 | +€1,524 | +350% |
| Recurring financial charges | 65 | €435 | €1,958 | +€1,524 | +350% |
| Profit (loss) for the period before taxes | 9903 | €37,800 | -€21,924 | -€59,724 | |
| Income taxes | 67/77 | €10,967 | €0 | -€10,967 | -100% |
| Profit (loss) for the period | 9904 | €26,833 | -€21,924 | -€48,757 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,833 | -€21,924 | -€48,757 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.