PYXEL: 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.
PYXEL
Largest movements
- Receivables within one year -€37,930
down €37,930 (-78.8%), from €48,118 to €10,187
of which Other amounts receivable: -€44,597
- Cash +€29,835
up €29,835 (+189.0%), from €15,784 to €45,620
mainly Net result for the year (+€40,487) and Receivables within one year (+€37,930)
- Tangible fixed assets +€11,865
up €11,865 (+2.4%), from €496,498 to €508,363
of which Land and buildings: +€305,018
- Trade debts -€63,633
down €63,633 (-91.8%), from €69,291 to €5,658
- Reserves +€40,487
up €40,487 (+50.8%), from €79,664 to €120,151
of which Distributable reserves: +€40,487
- Tax, wage and social debts +€12,011
up €12,011 (+60.9%), from €19,734 to €31,745
of which Taxes: +€12,411
- Debts after one year +€10,655
up €10,655 (+3.4%), from €310,723 to €321,378
- Gross operating margin +€26,852
up €26,852 (+38.3%), from €70,136 to €96,988
- Financial charges +€7,825
up €7,825 (+64.7%), from €12,099 to €19,924
- Depreciation +€4,062
up €4,062 (+38.1%), from €10,655 to €14,717
- Financial income -€1,976
down €1,976 (-71.8%), from €2,752 to €776
- Other operating charges +€1,809
up €1,809 (+129.8%), from €1,393 to €3,203
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 | €563,193 | €564,629 | +€1,436 | +0.3% |
| Fixed assets | 21/28 | €496,598 | €508,463 | +€11,865 | +2.4% |
| Tangible fixed assets | 22/27 | €496,498 | €508,363 | +€11,865 | +2.4% |
| Land and buildings | 22 | €192,727 | €497,746 | +€305,018 | +158.3% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €1,173 | €10,618 | +€9,445 | +805.2% |
| Assets under construction and advance payments | 27 | €302,598 | - | -€302,598 | |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €66,595 | €56,165 | -€10,429 | -15.7% |
| Amounts receivable within one year | 40/41 | €48,118 | €10,187 | -€37,930 | -78.8% |
| Trade receivables | 40 | €3,445 | €10,112 | +€6,667 | +193.5% |
| Other amounts receivable | 41 | €44,673 | €76 | -€44,597 | -99.8% |
| Cash at bank and in hand | 54/58 | €15,784 | €45,620 | +€29,835 | +189.0% |
| Deferred charges and accrued income | 490/1 | €2,693 | €358 | -€2,334 | -86.7% |
| Total equity and liabilities | 10/49 | €563,193 | €564,629 | +€1,436 | +0.3% |
| Equity | 10/15 | €125,271 | €165,758 | +€40,487 | +32.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €79,664 | €120,151 | +€40,487 | +50.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €77,804 | €118,291 | +€40,487 | +52.0% |
| Profit (loss) carried forward | 14 | €39,407 | €39,407 | = | 0.0% |
| Amounts payable | 17/49 | €437,922 | €398,871 | -€39,051 | -8.9% |
| Amounts payable after more than one year | 17 | €310,723 | €321,378 | +€10,655 | +3.4% |
| Financial debts | 170/4 | €310,723 | €321,378 | +€10,655 | +3.4% |
| Amounts payable within one year | 42/48 | €125,607 | €77,493 | -€48,114 | -38.3% |
| Current portion of amounts payable after more than one year | 42 | €30,027 | €31,193 | +€1,165 | +3.9% |
| Financial debts | 43 | €6,554 | €8,479 | +€1,924 | +29.4% |
| Credit institutions | 430/8 | €6,554 | €8,479 | +€1,924 | +29.4% |
| Trade debts | 44 | €69,291 | €5,658 | -€63,633 | -91.8% |
| Suppliers | 440/4 | €69,291 | €5,658 | -€63,633 | -91.8% |
| Taxes, remuneration and social security | 45 | €19,734 | €31,745 | +€12,011 | +60.9% |
| Taxes | 450/3 | €18,219 | €30,630 | +€12,411 | +68.1% |
| Remuneration and social security | 454/9 | €1,515 | €1,115 | -€400 | -26.4% |
| Other amounts payable | 47/48 | - | €419 | +€419 | |
| Accrued charges and deferred income | 492/3 | €1,592 | - | -€1,592 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,655 | €14,717 | +€4,062 | +38.1% |
| Other operating charges | 640/8 | €1,393 | €3,203 | +€1,809 | +129.8% |
| Gross operating margin | 9900 | €70,136 | €96,988 | +€26,852 | +38.3% |
| Operating profit (loss) | 9901 | €58,087 | €79,068 | +€20,981 | +36.1% |
| Financial income | 75/76B | €2,752 | €776 | -€1,976 | -71.8% |
| Recurring financial income | 75 | €2,752 | €776 | -€1,976 | -71.8% |
| Financial charges | 65/66B | €12,099 | €19,924 | +€7,825 | +64.7% |
| Recurring financial charges | 65 | €12,099 | €19,924 | +€7,825 | +64.7% |
| Profit (loss) for the period before taxes | 9903 | €48,740 | €59,919 | +€11,180 | +22.9% |
| Income taxes | 67/77 | €18,894 | €19,432 | +€538 | +2.8% |
| Profit (loss) for the period | 9904 | €29,846 | €40,487 | +€10,641 | +35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €29,846 | €40,487 | +€10,641 | +35.7% |
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 1 October 2026 via checked.be.