POIRO: 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.
POIRO
Largest movements
- Tangible fixed assets +€299,405
up €299,405 (+146%), from €205,006 to €504,411
of which Land and buildings: +€270,808
- Cash +€10,088
up €10,088 (+21.6%), from €46,778 to €56,865
mainly Debts after one year (+€227,032) and Depreciation (+€60,819)
- Receivables within one year +€8,134
up €8,134 (+211%), from €3,858 to €11,992
of which Other amounts receivable: +€4,909
- Debts after one year +€227,032
up €227,032 (+152%), from €149,550 to €376,582
- Trade debts +€41,004
up €41,004 (+545%), from €7,521 to €48,525
- Other debts +€28,657
up €28,657 (+197%), from €14,520 to €43,177
- Current portion of long-term debt +€8,003
up €8,003 (+28.8%), from €27,754 to €35,758
- Depreciation +€36,399
up €36,399 (+149%), from €24,420 to €60,819
- Taxes -€9,697
down €9,697 (-89.2%), from €10,868 to €1,171
- Other operating charges +€8,367
up €8,367 (+69.4%), from €12,053 to €20,420
- Staff costs -€7,092
down €7,092 (-82.2%), from €8,623 to €1,531
- Financial charges +€5,301
up €5,301 (+64.6%), from €8,205 to €13,505
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 | €267,146 | €582,325 | +€315,179 | +118% |
| Fixed assets | 21/28 | €205,006 | €504,411 | +€299,405 | +146% |
| Tangible fixed assets | 22/27 | €205,006 | €504,411 | +€299,405 | +146% |
| Land and buildings | 22 | €189,618 | €460,426 | +€270,808 | +143% |
| Plant, machinery and equipment | 23 | €14,867 | €43,830 | +€28,963 | +195% |
| Furniture and vehicles | 24 | €521 | €155 | -€366 | -70.2% |
| Current assets | 29/58 | €62,140 | €77,913 | +€15,773 | +25.4% |
| Stocks and contracts in progress | 3 | €8,564 | €7,499 | -€1,066 | -12.4% |
| Stocks | 30/36 | €8,564 | €7,499 | -€1,066 | -12.4% |
| Amounts receivable within one year | 40/41 | €3,858 | €11,992 | +€8,134 | +211% |
| Trade receivables | 40 | - | €3,225 | +€3,225 | |
| Other amounts receivable | 41 | €3,858 | €8,767 | +€4,909 | +127% |
| Cash at bank and in hand | 54/58 | €46,778 | €56,865 | +€10,088 | +21.6% |
| Deferred charges and accrued income | 490/1 | €2,940 | €1,557 | -€1,383 | -47.0% |
| Total equity and liabilities | 10/49 | €267,146 | €582,325 | +€315,179 | +118% |
| Equity | 10/15 | €65,247 | €71,001 | +€5,754 | +8.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €52,847 | €58,601 | +€5,754 | +10.9% |
| Distributable reserves | 133 | €52,847 | €58,601 | +€5,754 | +10.9% |
| Amounts payable | 17/49 | €201,899 | €511,323 | +€309,425 | +153% |
| Amounts payable after more than one year | 17 | €149,550 | €376,582 | +€227,032 | +152% |
| Financial debts | 170/4 | €149,550 | €376,582 | +€227,032 | +152% |
| Amounts payable within one year | 42/48 | €52,348 | €134,741 | +€82,393 | +157% |
| Current portion of amounts payable after more than one year | 42 | €27,754 | €35,758 | +€8,003 | +28.8% |
| Trade debts | 44 | €7,521 | €48,525 | +€41,004 | +545% |
| Suppliers | 440/4 | €7,521 | €48,525 | +€41,004 | +545% |
| Taxes, remuneration and social security | 45 | €2,553 | €7,282 | +€4,729 | +185% |
| Taxes | 450/3 | €2,547 | €7,277 | +€4,730 | +186% |
| Remuneration and social security | 454/9 | €6 | €5 | -€2 | -24.3% |
| Other amounts payable | 47/48 | €14,520 | €43,177 | +€28,657 | +197% |
| Non-recurring operating income | 76A | - | €14,760 | +€14,760 | |
| Remuneration, social security and pensions | 62 | €8,623 | €1,531 | -€7,092 | -82.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,420 | €60,819 | +€36,399 | +149% |
| Other operating charges | 640/8 | €12,053 | €20,420 | +€8,367 | +69.4% |
| Gross operating margin | 9900 | €119,630 | €123,162 | +€3,532 | +3.0% |
| Operating profit (loss) | 9901 | €74,534 | €40,391 | -€34,143 | -45.8% |
| Financial income | 75/76B | €2,854 | €40 | -€2,815 | -98.6% |
| Recurring financial income | 75 | €2,854 | €40 | -€2,815 | -98.6% |
| Financial charges | 65/66B | €8,205 | €13,505 | +€5,301 | +64.6% |
| Recurring financial charges | 65 | €8,205 | €13,505 | +€5,301 | +64.6% |
| Profit (loss) for the period before taxes | 9903 | €69,184 | €26,925 | -€42,258 | -61.1% |
| Income taxes | 67/77 | €10,868 | €1,171 | -€9,697 | -89.2% |
| Profit (loss) for the period | 9904 | €58,315 | €25,754 | -€32,561 | -55.8% |
| Profit (loss) for the period to be appropriated | 9905 | €58,315 | €25,754 | -€32,561 | -55.8% |
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 25 October 2026 via checked.be.