PRODUCTION PIRATES: 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.
PRODUCTION PIRATES
Largest movements
- Stocks and contracts -€107,350
down €107,350 (-45.8%), from €234,350 to €127,000
- Tangible fixed assets -€93,801
down €93,801 (-42.4%), from €221,102 to €127,301
of which Furniture and vehicles: -€86,881
- Receivables within one year -€24,368
down €24,368 (-29.7%), from €81,968 to €57,600
of which Trade receivables: -€29,003
- Receivables after one year -€10,000
down €10,000 (-40.0%), from €25,000 to €15,000
- Profit (loss) carried forward -€195,939
down €195,939 (-183%), from -€107,156 to -€303,094
- Trade debts +€139,325
up €139,325 (+116%), from €120,427 to €259,752
- Short-term financial debts -€97,902
down €97,902 (-42.9%), from €228,149 to €130,248
- Current portion of long-term debt -€69,742
down €69,742 (-67.2%), from €103,757 to €34,015
- Debts after one year -€19,589
down €19,589 (-100%), from €19,589 to €0
- Gross operating margin -€377,581
down €377,581, from €316,167 to -€61,415
- Taxes -€175,910
down €175,910, from €152,720 to -€23,190
- Staff costs -€50,125
down €50,125 (-29.5%), from €170,182 to €120,057
- Depreciation -€43,587
down €43,587 (-71.6%), from €60,876 to €17,289
- Financial charges -€7,159
down €7,159 (-27.9%), from €25,660 to €18,501
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 | €570,577 | €329,481 | -€241,096 | -42.3% |
| Fixed assets | 21/28 | €221,102 | €127,301 | -€93,801 | -42.4% |
| Tangible fixed assets | 22/27 | €221,102 | €127,301 | -€93,801 | -42.4% |
| Plant, machinery and equipment | 23 | €116,558 | €110,355 | -€6,203 | -5.3% |
| Furniture and vehicles | 24 | €99,923 | €13,042 | -€86,881 | -86.9% |
| Other tangible fixed assets | 26 | €4,621 | €3,905 | -€716 | -15.5% |
| Current assets | 29/58 | €349,475 | €202,180 | -€147,295 | -42.1% |
| Amounts receivable after more than one year | 29 | €25,000 | €15,000 | -€10,000 | -40.0% |
| Other amounts receivable | 291 | €25,000 | €15,000 | -€10,000 | -40.0% |
| Stocks and contracts in progress | 3 | €234,350 | €127,000 | -€107,350 | -45.8% |
| Stocks | 30/36 | €234,350 | €127,000 | -€107,350 | -45.8% |
| Amounts receivable within one year | 40/41 | €81,968 | €57,600 | -€24,368 | -29.7% |
| Trade receivables | 40 | €70,913 | €41,910 | -€29,003 | -40.9% |
| Other amounts receivable | 41 | €11,055 | €15,689 | +€4,635 | +41.9% |
| Cash at bank and in hand | 54/58 | €8,157 | €2,581 | -€5,577 | -68.4% |
| Total equity and liabilities | 10/49 | €570,577 | €329,481 | -€241,096 | -42.3% |
| Equity | 10/15 | -€88,556 | -€284,494 | -€195,939 | -221% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€107,156 | -€303,094 | -€195,939 | -183% |
| Amounts payable | 17/49 | €659,133 | €613,976 | -€45,158 | -6.9% |
| Amounts payable after more than one year | 17 | €19,589 | €0 | -€19,589 | -100% |
| Financial debts | 170/4 | €19,589 | €0 | -€19,589 | -100% |
| Amounts payable within one year | 42/48 | €639,544 | €613,976 | -€25,568 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €103,757 | €34,015 | -€69,742 | -67.2% |
| Financial debts | 43 | €228,149 | €130,248 | -€97,902 | -42.9% |
| Credit institutions | 430/8 | €228,149 | €130,248 | -€97,902 | -42.9% |
| Trade debts | 44 | €120,427 | €259,752 | +€139,325 | +116% |
| Suppliers | 440/4 | €120,427 | €259,752 | +€139,325 | +116% |
| Taxes, remuneration and social security | 45 | €187,210 | €179,961 | -€7,249 | -3.9% |
| Taxes | 450/3 | €164,071 | €160,381 | -€3,690 | -2.2% |
| Remuneration and social security | 454/9 | €23,140 | €19,580 | -€3,559 | -15.4% |
| Other amounts payable | 47/48 | €0 | €10,000 | +€10,000 | |
| Remuneration, social security and pensions | 62 | €170,182 | €120,057 | -€50,125 | -29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,876 | €17,289 | -€43,587 | -71.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €4,170 | €2,206 | -€1,965 | -47.1% |
| Non-recurring operating charges | 66A | - | €833 | +€833 | |
| Gross operating margin | 9900 | €316,167 | -€61,415 | -€377,581 | |
| Operating profit (loss) | 9901 | €80,939 | -€201,800 | -€282,739 | |
| Financial income | 75/76B | €1,040 | €1,172 | +€131 | +12.6% |
| Recurring financial income | 75 | €1,040 | €1,172 | +€131 | +12.6% |
| Financial charges | 65/66B | €25,660 | €18,501 | -€7,159 | -27.9% |
| Recurring financial charges | 65 | €25,660 | €18,501 | -€7,159 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €56,320 | -€219,129 | -€275,449 | |
| Income taxes | 67/77 | €152,720 | -€23,190 | -€175,910 | |
| Profit (loss) for the period | 9904 | -€96,400 | -€195,939 | -€99,539 | -103% |
| Profit (loss) for the period to be appropriated | 9905 | -€96,400 | -€195,939 | -€99,539 | -103% |
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 18 October 2026 via checked.be.