PYTHIA: 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.
PYTHIA
Largest movements
- Tangible fixed assets +€39,211
up €39,211 (+39.4%), from €99,500 to €138,711
of which Furniture and vehicles: +€60,773
- Receivables within one year -€17,485
down €17,485 (-46.8%), from €37,359 to €19,874
of which Trade receivables: -€26,550
- Cash -€4,200
down €4,200 (-39.1%), from €10,732 to €6,532
mainly Investment in fixed assets (net) (-€64,528) and Other debts (-€29,159)
- Stocks and contracts -€3,074
down €3,074 (-92.2%), from €3,336 to €262
- Deferred charges and accrued income +€1,781
up €1,781 (+857.6%), from €208 to €1,988
- Debts after one year +€70,000
new in 2025: €70,000
- Other debts -€29,159
down €29,159 (-15.3%), from €191,121 to €161,962
- Profit (loss) carried forward -€17,287
down €17,287 (-22.6%), from -€76,453 to -€93,740
- Trade debts -€6,322
down €6,322 (-37.1%), from €17,047 to €10,725
- Gross operating margin -€26,212
down €26,212 (-72.7%), from €36,045 to €9,833
- Depreciation +€1,574
up €1,574 (+6.6%), from €23,744 to €25,317
- Write-downs +€919
new in 2025: €919
- Other operating charges +€532
up €532 (+78.8%), from €675 to €1,208
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 | €151,485 | €167,717 | +€16,232 | +10.7% |
| Fixed assets | 21/28 | €99,850 | €139,061 | +€39,211 | +39.3% |
| Tangible fixed assets | 22/27 | €99,500 | €138,711 | +€39,211 | +39.4% |
| Land and buildings | 22 | €53,532 | €45,162 | -€8,370 | -15.6% |
| Plant, machinery and equipment | 23 | €42,058 | €28,934 | -€13,125 | -31.2% |
| Furniture and vehicles | 24 | €3,267 | €64,039 | +€60,773 | +1860.3% |
| Other tangible fixed assets | 26 | €643 | €576 | -€67 | -10.5% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €51,635 | €28,656 | -€22,979 | -44.5% |
| Stocks and contracts in progress | 3 | €3,336 | €262 | -€3,074 | -92.2% |
| Stocks | 30/36 | €3,336 | €262 | -€3,074 | -92.2% |
| Amounts receivable within one year | 40/41 | €37,359 | €19,874 | -€17,485 | -46.8% |
| Trade receivables | 40 | €36,707 | €10,156 | -€26,550 | -72.3% |
| Other amounts receivable | 41 | €653 | €9,718 | +€9,065 | +1388.8% |
| Cash at bank and in hand | 54/58 | €10,732 | €6,532 | -€4,200 | -39.1% |
| Deferred charges and accrued income | 490/1 | €208 | €1,988 | +€1,781 | +857.6% |
| Total equity and liabilities | 10/49 | €151,485 | €167,717 | +€16,232 | +10.7% |
| Equity | 10/15 | -€57,683 | -€74,969 | -€17,287 | -30.0% |
| Contributions | 10/11 | €18,771 | €18,771 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,453 | -€93,740 | -€17,287 | -22.6% |
| Amounts payable | 17/49 | €209,168 | €242,687 | +€33,519 | +16.0% |
| Amounts payable after more than one year | 17 | - | €70,000 | +€70,000 | |
| Financial debts | 170/4 | - | €70,000 | +€70,000 | |
| Amounts payable within one year | 42/48 | €209,168 | €172,687 | -€36,481 | -17.4% |
| Trade debts | 44 | €17,047 | €10,725 | -€6,322 | -37.1% |
| Suppliers | 440/4 | €17,047 | €10,725 | -€6,322 | -37.1% |
| Advances received on contracts in progress | 46 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €191,121 | €161,962 | -€29,159 | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,744 | €25,317 | +€1,574 | +6.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €919 | +€919 | |
| Other operating charges | 640/8 | €675 | €1,208 | +€532 | +78.8% |
| Gross operating margin | 9900 | €36,045 | €9,833 | -€26,212 | -72.7% |
| Operating profit (loss) | 9901 | €11,626 | -€17,612 | -€29,237 | |
| Financial income | 75/76B | €270 | €492 | +€222 | +82.1% |
| Recurring financial income | 75 | €270 | €492 | +€222 | +82.1% |
| Financial charges | 65/66B | €128 | €167 | +€39 | +30.1% |
| Recurring financial charges | 65 | €128 | €167 | +€39 | +30.1% |
| Profit (loss) for the period before taxes | 9903 | €11,768 | -€17,287 | -€29,054 | |
| Profit (loss) for the period | 9904 | €11,768 | -€17,287 | -€29,054 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,768 | -€17,287 | -€29,054 |
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 29 September 2026 via checked.be.