PIXURAL: 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.
PIXURAL
Largest movements
- Cash -€27,816
down €27,816 (-34.3%), from €81,173 to €53,358
mainly Net result for the year (-€35,356) and Debts after one year (-€10,580)
- Tangible fixed assets -€18,544
down €18,544 (-69.0%), from €26,895 to €8,351
- Receivables within one year -€16,179
down €16,179 (-32.9%), from €49,225 to €33,046
of which Trade receivables: -€15,278
- Profit (loss) carried forward -€35,356
down €35,356, from €12,983 to -€22,373
- Debts after one year -€10,580
down €10,580 (-41.7%), from €25,370 to €14,791
- Tax, wage and social debts -€5,827
down €5,827 (-73.7%), from €7,908 to €2,081
- Other debts -€4,123
down €4,123 (-8.1%), from €51,106 to €46,983
- Current portion of long-term debt -€3,198
down €3,198 (-23.2%), from €13,778 to €10,580
- Gross operating margin -€37,934
down €37,934 (-49.7%), from €76,338 to €38,403
- Financial charges +€13,795
up €13,795 (+34.6%), from €39,822 to €53,616
- Taxes -€3,826
down €3,826 (-96.7%), from €3,958 to €132
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 | €157,677 | €95,203 | -€62,474 | -39.6% |
| Fixed assets | 21/28 | €26,895 | €8,351 | -€18,544 | -69.0% |
| Tangible fixed assets | 22/27 | €26,895 | €8,351 | -€18,544 | -69.0% |
| Furniture and vehicles | 24 | €26,895 | €8,351 | -€18,544 | -69.0% |
| Current assets | 29/58 | €130,781 | €86,852 | -€43,929 | -33.6% |
| Amounts receivable within one year | 40/41 | €49,225 | €33,046 | -€16,179 | -32.9% |
| Trade receivables | 40 | €32,127 | €16,849 | -€15,278 | -47.6% |
| Other amounts receivable | 41 | €17,098 | €16,197 | -€901 | -5.3% |
| Cash at bank and in hand | 54/58 | €81,173 | €53,358 | -€27,816 | -34.3% |
| Deferred charges and accrued income | 490/1 | €383 | €448 | +€66 | +17.1% |
| Total equity and liabilities | 10/49 | €157,677 | €95,203 | -€62,474 | -39.6% |
| Equity | 10/15 | €48,748 | €13,392 | -€35,356 | -72.5% |
| Contributions | 10/11 | €20,100 | €20,100 | = | 0.0% |
| Reserves | 13 | €15,665 | €15,665 | = | 0.0% |
| Distributable reserves | 133 | €15,665 | €15,665 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,983 | -€22,373 | -€35,356 | |
| Amounts payable | 17/49 | €108,929 | €81,811 | -€27,118 | -24.9% |
| Amounts payable after more than one year | 17 | €25,370 | €14,791 | -€10,580 | -41.7% |
| Financial debts | 170/4 | €25,370 | €14,791 | -€10,580 | -41.7% |
| Amounts payable within one year | 42/48 | €82,959 | €67,020 | -€15,939 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €13,778 | €10,580 | -€3,198 | -23.2% |
| Trade debts | 44 | €10,168 | €7,377 | -€2,791 | -27.4% |
| Suppliers | 440/4 | €10,168 | €7,377 | -€2,791 | -27.4% |
| Taxes, remuneration and social security | 45 | €7,908 | €2,081 | -€5,827 | -73.7% |
| Taxes | 450/3 | €7,908 | €2,081 | -€5,827 | -73.7% |
| Other amounts payable | 47/48 | €51,106 | €46,983 | -€4,123 | -8.1% |
| Accrued charges and deferred income | 492/3 | €600 | - | -€600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,627 | €19,486 | -€142 | -0.7% |
| Other operating charges | 640/8 | €538 | €525 | -€14 | -2.5% |
| Gross operating margin | 9900 | €76,338 | €38,403 | -€37,934 | -49.7% |
| Operating profit (loss) | 9901 | €56,172 | €18,393 | -€37,779 | -67.3% |
| Financial charges | 65/66B | €39,822 | €53,616 | +€13,795 | +34.6% |
| Recurring financial charges | 65 | €39,822 | €53,616 | +€13,795 | +34.6% |
| Profit (loss) for the period before taxes | 9903 | €16,350 | -€35,224 | -€51,574 | |
| Income taxes | 67/77 | €3,958 | €132 | -€3,826 | -96.7% |
| Profit (loss) for the period | 9904 | €12,393 | -€35,356 | -€47,748 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,393 | -€35,356 | -€47,748 |
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 3 October 2026 via checked.be.