Piyard: 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.
Piyard
Largest movements
- Cash -€32,130
down €32,130 (-20.3%), from €158,463 to €126,332
mainly Contributions, distributions and other (-€255,370) and Receivables within one year (-€22,141)
- Receivables within one year +€22,141
up €22,141 (+60.8%), from €36,440 to €58,580
of which Trade receivables: +€16,248
- Tangible fixed assets +€14,793
up €14,793 (+577.8%), from €2,560 to €17,353
of which Furniture and vehicles: +€15,212
- Other debts +€188,370
up €188,370, from €0 to €188,370
- Reserves -€182,476
down €182,476 (-100.0%), from €182,476 to €0
- Gross operating margin -€54,697
down €54,697 (-36.1%), from €151,665 to €96,968
- Taxes -€13,588
down €13,588 (-42.0%), from €32,333 to €18,746
- Depreciation +€1,595
up €1,595 (+109.1%), from €1,462 to €3,057
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 | €199,270 | €204,626 | +€5,356 | +2.7% |
| Fixed assets | 21/28 | €2,560 | €17,353 | +€14,793 | +577.8% |
| Tangible fixed assets | 22/27 | €2,560 | €17,353 | +€14,793 | +577.8% |
| Plant, machinery and equipment | 23 | €789 | €370 | -€419 | -53.1% |
| Furniture and vehicles | 24 | €1,771 | €16,983 | +€15,212 | +859.0% |
| Current assets | 29/58 | €196,710 | €187,273 | -€9,437 | -4.8% |
| Amounts receivable within one year | 40/41 | €36,440 | €58,580 | +€22,141 | +60.8% |
| Trade receivables | 40 | €35,465 | €51,713 | +€16,248 | +45.8% |
| Other amounts receivable | 41 | €975 | €6,868 | +€5,893 | +604.4% |
| Cash at bank and in hand | 54/58 | €158,463 | €126,332 | -€32,130 | -20.3% |
| Deferred charges and accrued income | 490/1 | €1,808 | €2,360 | +€552 | +30.6% |
| Total equity and liabilities | 10/49 | €199,270 | €204,626 | +€5,356 | +2.7% |
| Equity | 10/15 | €184,976 | €2,500 | -€182,476 | -98.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €182,476 | €0 | -€182,476 | -100.0% |
| Distributable reserves | 133 | €182,476 | €0 | -€182,476 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €14,294 | €202,126 | +€187,832 | +1314.0% |
| Amounts payable within one year | 42/48 | €14,294 | €202,126 | +€187,832 | +1314.0% |
| Financial debts | 43 | €30 | €33 | +€4 | +12.3% |
| Credit institutions | 430/8 | €30 | €33 | +€4 | +12.3% |
| Trade debts | 44 | €1,838 | €704 | -€1,134 | -61.7% |
| Suppliers | 440/4 | €1,838 | €704 | -€1,134 | -61.7% |
| Taxes, remuneration and social security | 45 | €12,427 | €13,019 | +€592 | +4.8% |
| Taxes | 450/3 | €12,427 | €13,019 | +€592 | +4.8% |
| Other amounts payable | 47/48 | €0 | €188,370 | +€188,370 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,462 | €3,057 | +€1,595 | +109.1% |
| Other operating charges | 640/8 | €920 | €1,129 | +€209 | +22.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €151,665 | €96,968 | -€54,697 | -36.1% |
| Operating profit (loss) | 9901 | €149,283 | €92,783 | -€56,501 | -37.8% |
| Financial income | 75/76B | €19 | €28 | +€9 | +44.9% |
| Recurring financial income | 75 | €19 | €28 | +€9 | +44.9% |
| Financial charges | 65/66B | €1,593 | €1,170 | -€422 | -26.5% |
| Recurring financial charges | 65 | €1,593 | €1,170 | -€422 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €147,710 | €91,640 | -€56,070 | -38.0% |
| Income taxes | 67/77 | €32,333 | €18,746 | -€13,588 | -42.0% |
| Profit (loss) for the period | 9904 | €115,376 | €72,894 | -€42,482 | -36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €115,376 | €72,894 | -€42,482 | -36.8% |
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 8 October 2026 via checked.be.