PYTHEAS: 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.
PYTHEAS
Largest movements
- Receivables after one year -€52,309
down €52,309 (-59.5%), from €87,859 to €35,550
of which Other amounts receivable: -€52,309
- Financial fixed assets +€50,235
up €50,235 (+3.5%), from €1.4m to €1.5m
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€86,362
down €86,362 (-94.7%), from €91,236 to €4,874
- Other operating charges -€29,836
down €29,836 (-96.4%), from €30,955 to €1,118
- Gross operating margin +€993
up €993 (+24.9%), from -€3,995 to -€3,002
- Financial charges +€291
up €291 (+33.3%), from €874 to €1,165
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 | €1,881,996 | €1,882,933 | +€937 | 0.0% |
| Fixed assets | 21/28 | €1,438,656 | €1,488,891 | +€50,235 | +3.5% |
| Financial fixed assets | 28 | €1,438,656 | €1,488,891 | +€50,235 | +3.5% |
| Current assets | 29/58 | €443,340 | €394,042 | -€49,298 | -11.1% |
| Amounts receivable after more than one year | 29 | €87,859 | €35,550 | -€52,309 | -59.5% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €87,859 | €35,550 | -€52,309 | -59.5% |
| Amounts receivable within one year | 40/41 | €0 | €832 | +€832 | |
| Other amounts receivable | 41 | €0 | €832 | +€832 | |
| Cash at bank and in hand | 54/58 | €351,869 | €354,180 | +€2,311 | +0.7% |
| Deferred charges and accrued income | 490/1 | €3,612 | €3,480 | -€132 | -3.6% |
| Total equity and liabilities | 10/49 | €1,881,996 | €1,882,933 | +€937 | 0.0% |
| Equity | 10/15 | €1,811,377 | €1,810,966 | -€411 | 0.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,803,317 | €1,802,906 | -€411 | 0.0% |
| Amounts payable | 17/49 | €70,619 | €71,967 | +€1,348 | +1.9% |
| Amounts payable within one year | 42/48 | €62,637 | €63,375 | +€738 | +1.2% |
| Trade debts | 44 | €1,154 | €1,892 | +€738 | +64.0% |
| Suppliers | 440/4 | €1,154 | €1,892 | +€738 | +64.0% |
| Other amounts payable | 47/48 | €61,483 | €61,483 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,982 | €8,592 | +€610 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €30,955 | €1,118 | -€29,836 | -96.4% |
| Gross operating margin | 9900 | -€3,995 | -€3,002 | +€993 | +24.9% |
| Operating profit (loss) | 9901 | -€34,949 | -€4,120 | +€30,829 | +88.2% |
| Financial income | 75/76B | €91,236 | €4,874 | -€86,362 | -94.7% |
| Recurring financial income | 75 | €91,236 | €4,874 | -€86,362 | -94.7% |
| Financial charges | 65/66B | €874 | €1,165 | +€291 | +33.3% |
| Recurring financial charges | 65 | €874 | €1,165 | +€291 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | €55,413 | -€411 | -€55,824 | |
| Profit (loss) for the period | 9904 | €55,413 | -€411 | -€55,824 | |
| Profit (loss) for the period to be appropriated | 9905 | €55,413 | -€411 | -€55,824 |
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 14 October 2026 via checked.be.