PLEIADE: 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.
PLEIADE
Largest movements
- Receivables within one year +€36,307
up €36,307 (+332.1%), from €10,932 to €47,239
of which Other amounts receivable: +€39,370
- Tangible fixed assets -€31,465
down €31,465 (-4.6%), from €678,092 to €646,627
of which Land and buildings: -€32,339
- Cash -€20,328
down €20,328 (-76.8%), from €26,459 to €6,131
mainly Receivables within one year (-€36,307) and Debts after one year (-€29,564)
- Reserves +€38,348
up €38,348 (+5.0%), from €763,142 to €801,490
of which Distributable reserves: +€46,050
- Debts after one year -€29,564
down €29,564 (-57.0%), from €51,854 to €22,290
- Provisions -€25,895
down €25,895 (-5.8%), from €447,933 to €422,038
of which Provisions for liabilities and charges: -€21,929
- Financial income -€18,954
down €18,954 (-31.6%), from €60,000 to €41,046
- Other operating charges +€7,712
up €7,712 (+203.3%), from €3,794 to €11,506
- Taxes -€6,406
down €6,406 (-41.5%), from €15,450 to €9,044
- Gross operating margin -€2,594
down €2,594 (-3.0%), from €87,655 to €85,061
- Financial charges +€2,085
up €2,085 (+5.7%), from €36,283 to €38,368
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 | €1,719,355 | €1,704,462 | -€14,893 | -0.9% |
| Fixed assets | 21/28 | €1,678,092 | €1,646,627 | -€31,465 | -1.9% |
| Tangible fixed assets | 22/27 | €678,092 | €646,627 | -€31,465 | -4.6% |
| Land and buildings | 22 | €677,100 | €644,761 | -€32,339 | -4.8% |
| Furniture and vehicles | 24 | €992 | €1,866 | +€874 | +88.1% |
| Financial fixed assets | 28 | €1,000,000 | €1,000,000 | = | 0.0% |
| Current assets | 29/58 | €41,263 | €57,835 | +€16,572 | +40.2% |
| Amounts receivable within one year | 40/41 | €10,932 | €47,239 | +€36,307 | +332.1% |
| Trade receivables | 40 | €10,795 | €7,731 | -€3,063 | -28.4% |
| Other amounts receivable | 41 | €138 | €39,508 | +€39,370 | +28553.8% |
| Cash at bank and in hand | 54/58 | €26,459 | €6,131 | -€20,328 | -76.8% |
| Deferred charges and accrued income | 490/1 | €3,871 | €4,465 | +€593 | +15.3% |
| Total equity and liabilities | 10/49 | €1,719,355 | €1,704,462 | -€14,893 | -0.9% |
| Equity | 10/15 | €1,188,510 | €1,226,896 | +€38,386 | +3.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €763,142 | €801,490 | +€38,348 | +5.0% |
| Non-distributable reserves | 130/1 | €36,600 | €36,600 | = | 0.0% |
| Legal reserve | 130 | €36,600 | €36,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €139,652 | €131,950 | -€7,702 | -5.5% |
| Distributable reserves | 133 | €586,890 | €632,940 | +€46,050 | +7.8% |
| Profit (loss) carried forward | 14 | €325,368 | €325,406 | +€38 | 0.0% |
| Provisions and deferred taxes | 16 | €447,933 | €422,038 | -€25,895 | -5.8% |
| Provisions for liabilities and charges | 160/5 | €376,023 | €354,094 | -€21,929 | -5.8% |
| Other liabilities and charges | 164/5 | €376,023 | €354,094 | -€21,929 | -5.8% |
| Deferred taxes | 168 | €71,910 | €67,944 | -€3,966 | -5.5% |
| Amounts payable | 17/49 | €82,911 | €55,528 | -€27,384 | -33.0% |
| Amounts payable after more than one year | 17 | €51,854 | €22,290 | -€29,564 | -57.0% |
| Financial debts | 170/4 | €51,854 | €22,290 | -€29,564 | -57.0% |
| Amounts payable within one year | 42/48 | €31,058 | €33,238 | +€2,181 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €4,366 | €4,564 | +€198 | +4.5% |
| Trade debts | 44 | €2,947 | €2,144 | -€803 | -27.3% |
| Suppliers | 440/4 | €2,947 | €2,144 | -€803 | -27.3% |
| Taxes, remuneration and social security | 45 | €22,814 | €26,530 | +€3,716 | +16.3% |
| Taxes | 450/3 | €22,814 | €26,530 | +€3,716 | +16.3% |
| Other amounts payable | 47/48 | €930 | - | -€930 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,822 | €32,769 | -€53 | -0.2% |
| Other operating charges | 640/8 | €3,794 | €11,506 | +€7,712 | +203.3% |
| Gross operating margin | 9900 | €87,655 | €85,061 | -€2,594 | -3.0% |
| Operating profit (loss) | 9901 | €51,039 | €40,786 | -€10,254 | -20.1% |
| Financial income | 75/76B | €60,000 | €41,046 | -€18,954 | -31.6% |
| Recurring financial income | 75 | €60,000 | €41,046 | -€18,954 | -31.6% |
| Financial charges | 65/66B | €36,283 | €38,368 | +€2,085 | +5.7% |
| Recurring financial charges | 65 | €36,283 | €38,368 | +€2,085 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €74,757 | €43,463 | -€31,293 | -41.9% |
| Transfer from deferred taxes | 780 | €3,966 | €3,966 | = | 0.0% |
| Income taxes | 67/77 | €15,450 | €9,044 | -€6,406 | -41.5% |
| Profit (loss) for the period | 9904 | €63,273 | €38,386 | -€24,887 | -39.3% |
| Transfer from tax-exempt reserves | 789 | €7,702 | €7,702 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €70,975 | €46,088 | -€24,887 | -35.1% |
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.