PIXIE DUST: 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.
PIXIE DUST
Largest movements
- Receivables within one year -€65,613
down €65,613 (-16.3%), from €403,672 to €338,058
of which Trade receivables: -€59,526
- Cash +€13,657
up €13,657 (+297%), from €4,592 to €18,249
mainly Receivables within one year (+€65,613) and Other debts (+€53,045)
- Trade debts -€53,901
down €53,901 (-96.4%), from €55,919 to €2,018
- Other debts +€53,045
up €53,045 (+4.5%), from €1.2m to €1.2m
- Profit (loss) carried forward -€37,937
down €37,937 (-6.2%), from -€608,912 to -€646,849
- Debts after one year -€20,167
down €20,167 (-13.0%), from €155,562 to €135,395
- Gross operating margin -€30,233
down €30,233, from €3,820 to -€26,412
- Depreciation -€5,715
down €5,715 (-42.2%), from €13,552 to €7,838
- Financial charges -€714
down €714 (-20.2%), from €3,540 to €2,826
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 | €880,586 | €821,127 | -€59,458 | -6.8% |
| Fixed assets | 21/28 | €472,322 | €464,485 | -€7,838 | -1.7% |
| Tangible fixed assets | 22/27 | €322,322 | €314,485 | -€7,838 | -2.4% |
| Land and buildings | 22 | €259,356 | €251,519 | -€7,838 | -3.0% |
| Furniture and vehicles | 24 | €62,966 | €62,966 | = | 0.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €150,000 | €150,000 | = | 0.0% |
| Current assets | 29/58 | €408,263 | €356,643 | -€51,621 | -12.6% |
| Amounts receivable within one year | 40/41 | €403,672 | €338,058 | -€65,613 | -16.3% |
| Trade receivables | 40 | €380,921 | €321,394 | -€59,526 | -15.6% |
| Other amounts receivable | 41 | €22,751 | €16,664 | -€6,087 | -26.8% |
| Cash at bank and in hand | 54/58 | €4,592 | €18,249 | +€13,657 | +297% |
| Deferred charges and accrued income | 490/1 | - | €336 | +€336 | |
| Total equity and liabilities | 10/49 | €880,586 | €821,127 | -€59,458 | -6.8% |
| Equity | 10/15 | -€541,162 | -€579,099 | -€37,937 | -7.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €49,150 | €49,150 | = | 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% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €28,540 | €28,540 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€608,912 | -€646,849 | -€37,937 | -6.2% |
| Amounts payable | 17/49 | €1,421,748 | €1,400,226 | -€21,522 | -1.5% |
| Amounts payable after more than one year | 17 | €155,562 | €135,395 | -€20,167 | -13.0% |
| Financial debts | 170/4 | €155,562 | €135,395 | -€20,167 | -13.0% |
| Amounts payable within one year | 42/48 | €1,266,186 | €1,264,832 | -€1,355 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €19,851 | €20,167 | +€316 | +1.6% |
| Trade debts | 44 | €55,919 | €2,018 | -€53,901 | -96.4% |
| Suppliers | 440/4 | €55,919 | €2,018 | -€53,901 | -96.4% |
| Taxes, remuneration and social security | 45 | €5,189 | €4,374 | -€815 | -15.7% |
| Taxes | 450/3 | €5,189 | €4,374 | -€815 | -15.7% |
| Other amounts payable | 47/48 | €1,185,228 | €1,238,273 | +€53,045 | +4.5% |
| Remuneration, social security and pensions | 62 | -€163 | €0 | +€163 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,552 | €7,838 | -€5,715 | -42.2% |
| Other operating charges | 640/8 | - | €116 | +€116 | |
| Gross operating margin | 9900 | €3,820 | -€26,412 | -€30,233 | |
| Operating profit (loss) | 9901 | -€9,569 | -€34,365 | -€24,797 | -259% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €3,540 | €2,826 | -€714 | -20.2% |
| Recurring financial charges | 65 | €3,540 | €2,826 | -€714 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | -€13,109 | -€37,191 | -€24,083 | -184% |
| Income taxes | 67/77 | €761 | €745 | -€16 | -2.1% |
| Profit (loss) for the period | 9904 | -€13,870 | -€37,937 | -€24,067 | -174% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,870 | -€37,937 | -€24,067 | -174% |
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 26 October 2026 via checked.be.