PIZZARELLI: 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.
PIZZARELLI
Largest movements
- Cash +€28,400
up €28,400 (+556.9%), from €5,100 to €33,499
mainly Net result for the year (+€45,069) and Trade debts (+€5,761)
- Tangible fixed assets +€27,861
up €27,861 (+478.7%), from €5,820 to €33,681
of which Other tangible fixed assets: +€27,750
- Profit (loss) carried forward +€45,069
up €45,069 (+62.8%), from -€71,740 to -€26,671
- Trade debts +€5,761
up €5,761 (+283.3%), from €2,034 to €7,795
- Other debts +€3,354
up €3,354 (+4.8%), from €69,375 to €72,729
- Tax, wage and social debts +€2,076
new in 2025: €2,076
- Gross operating margin +€54,874
up €54,874 (+2967.4%), from €1,849 to €56,724
- Depreciation +€5,078
up €5,078 (+1732.6%), from €293 to €5,371
- Other operating charges +€4,622
up €4,622 (+357.3%), from €1,294 to €5,915
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 | €12,401 | €68,656 | +€56,254 | +453.6% |
| Fixed assets | 21/28 | €6,070 | €33,931 | +€27,861 | +459.0% |
| Tangible fixed assets | 22/27 | €5,820 | €33,681 | +€27,861 | +478.7% |
| Furniture and vehicles | 24 | €5,707 | €5,818 | +€110 | +1.9% |
| Other tangible fixed assets | 26 | €113 | €27,863 | +€27,750 | +24557.9% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €6,331 | €34,725 | +€28,394 | +448.5% |
| Stocks and contracts in progress | 3 | €391 | €444 | +€52 | +13.3% |
| Stocks | 30/36 | €391 | €444 | +€52 | +13.3% |
| Amounts receivable within one year | 40/41 | €840 | €782 | -€58 | -6.9% |
| Trade receivables | 40 | - | €782 | +€782 | |
| Other amounts receivable | 41 | €840 | - | -€840 | |
| Cash at bank and in hand | 54/58 | €5,100 | €33,499 | +€28,400 | +556.9% |
| Total equity and liabilities | 10/49 | €12,401 | €68,656 | +€56,254 | +453.6% |
| Equity | 10/15 | -€59,110 | -€14,041 | +€45,069 | +76.2% |
| Contributions | 10/11 | €12,630 | €12,630 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,740 | -€26,671 | +€45,069 | +62.8% |
| Amounts payable | 17/49 | €71,512 | €82,697 | +€11,185 | +15.6% |
| Amounts payable within one year | 42/48 | €71,409 | €82,601 | +€11,192 | +15.7% |
| Trade debts | 44 | €2,034 | €7,795 | +€5,761 | +283.3% |
| Suppliers | 440/4 | €2,034 | €7,795 | +€5,761 | +283.3% |
| Taxes, remuneration and social security | 45 | - | €2,076 | +€2,076 | |
| Taxes | 450/3 | - | €2,076 | +€2,076 | |
| Other amounts payable | 47/48 | €69,375 | €72,729 | +€3,354 | +4.8% |
| Accrued charges and deferred income | 492/3 | €103 | €96 | -€7 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €293 | €5,371 | +€5,078 | +1732.6% |
| Other operating charges | 640/8 | €1,294 | €5,915 | +€4,622 | +357.3% |
| Gross operating margin | 9900 | €1,849 | €56,724 | +€54,874 | +2967.4% |
| Operating profit (loss) | 9901 | €263 | €45,438 | +€45,175 | +17197.0% |
| Financial charges | 65/66B | €614 | €368 | -€245 | -40.0% |
| Recurring financial charges | 65 | €614 | €368 | -€245 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | -€351 | €45,069 | +€45,420 | |
| Profit (loss) for the period | 9904 | -€351 | €45,069 | +€45,420 | |
| Profit (loss) for the period to be appropriated | 9905 | -€351 | €45,069 | +€45,420 |
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 1 October 2026 via checked.be.