QUEEN'S PITTA: 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.
QUEEN'S PITTA
Largest movements
- Cash +€74,334
up €74,334 (+59.7%), from €124,613 to €198,947
mainly Depreciation (+€41,814) and Trade debts (+€22,022)
- Tangible fixed assets -€28,736
down €28,736 (-24.6%), from €116,851 to €88,114
of which Furniture and vehicles: -€23,254
- Receivables within one year -€18,802
down €18,802 (-62.1%), from €30,258 to €11,456
of which Other amounts receivable: -€16,612
- Stocks and contracts -€6,691
down €6,691 (-52.3%), from €12,804 to €6,113
- Trade debts +€22,022
up €22,022 (+182%), from €12,079 to €34,101
- Debts after one year -€21,041
down €21,041 (-44.6%), from €47,158 to €26,117
- Reserves +€10,000
up €10,000 (+538%), from €1,860 to €11,860
of which Distributable reserves: +€10,000
- Other debts +€7,500
new in 2025: €7,500
- Tax, wage and social debts +€3,278
up €3,278 (+16.9%), from €19,399 to €22,678
of which Remuneration and social security: +€2,828
- Gross operating margin +€39,370
up €39,370 (+27.3%), from €144,022 to €183,392
- Taxes +€16,269
up €16,269, from -€3,098 to €13,171
- Depreciation +€8,073
up €8,073 (+23.9%), from €33,741 to €41,814
- Financial charges +€7,844
up €7,844 (+55.4%), from €14,160 to €22,004
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 | €287,227 | €307,491 | +€20,264 | +7.1% |
| Fixed assets | 21/28 | €119,553 | €90,816 | -€28,736 | -24.0% |
| Tangible fixed assets | 22/27 | €116,851 | €88,114 | -€28,736 | -24.6% |
| Land and buildings | 22 | €10,312 | €9,194 | -€1,118 | -10.8% |
| Plant, machinery and equipment | 23 | €20,398 | €16,034 | -€4,364 | -21.4% |
| Furniture and vehicles | 24 | €86,141 | €62,887 | -€23,254 | -27.0% |
| Financial fixed assets | 28 | €2,702 | €2,702 | = | 0.0% |
| Current assets | 29/58 | €167,675 | €216,675 | +€49,000 | +29.2% |
| Stocks and contracts in progress | 3 | €12,804 | €6,113 | -€6,691 | -52.3% |
| Stocks | 30/36 | €12,804 | €6,113 | -€6,691 | -52.3% |
| Amounts receivable within one year | 40/41 | €30,258 | €11,456 | -€18,802 | -62.1% |
| Trade receivables | 40 | €2,190 | - | -€2,190 | |
| Other amounts receivable | 41 | €28,068 | €11,456 | -€16,612 | -59.2% |
| Cash at bank and in hand | 54/58 | €124,613 | €198,947 | +€74,334 | +59.7% |
| Deferred charges and accrued income | 490/1 | - | €159 | +€159 | |
| Total equity and liabilities | 10/49 | €287,227 | €307,491 | +€20,264 | +7.1% |
| Equity | 10/15 | €186,055 | €196,055 | +€10,000 | +5.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €11,860 | +€10,000 | +538% |
| 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 | - | €10,000 | +€10,000 | |
| Profit (loss) carried forward | 14 | €165,595 | €165,595 | -€0 | 0.0% |
| Amounts payable | 17/49 | €101,172 | €111,436 | +€10,264 | +10.1% |
| Amounts payable after more than one year | 17 | €47,158 | €26,117 | -€21,041 | -44.6% |
| Financial debts | 170/4 | €47,158 | €26,117 | -€21,041 | -44.6% |
| Amounts payable within one year | 42/48 | €54,014 | €85,319 | +€31,305 | +58.0% |
| Current portion of amounts payable after more than one year | 42 | €22,536 | €21,041 | -€1,496 | -6.6% |
| Trade debts | 44 | €12,079 | €34,101 | +€22,022 | +182% |
| Suppliers | 440/4 | €12,079 | €34,101 | +€22,022 | +182% |
| Taxes, remuneration and social security | 45 | €19,399 | €22,678 | +€3,278 | +16.9% |
| Taxes | 450/3 | €12,069 | €12,519 | +€451 | +3.7% |
| Remuneration and social security | 454/9 | €7,331 | €10,158 | +€2,828 | +38.6% |
| Other amounts payable | 47/48 | - | €7,500 | +€7,500 | |
| Remuneration, social security and pensions | 62 | €87,602 | €86,265 | -€1,336 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,741 | €41,814 | +€8,073 | +23.9% |
| Other operating charges | 640/8 | €2,117 | €1,618 | -€499 | -23.6% |
| Non-recurring operating charges | 66A | €1,432 | €2,187 | +€756 | +52.8% |
| Gross operating margin | 9900 | €144,022 | €183,392 | +€39,370 | +27.3% |
| Operating profit (loss) | 9901 | €19,130 | €51,507 | +€32,377 | +169% |
| Financial income | 75/76B | €917 | €739 | -€178 | -19.4% |
| Recurring financial income | 75 | €917 | €739 | -€178 | -19.4% |
| Financial charges | 65/66B | €14,160 | €22,004 | +€7,844 | +55.4% |
| Recurring financial charges | 65 | €14,160 | €22,004 | +€7,844 | +55.4% |
| Profit (loss) for the period before taxes | 9903 | €5,887 | €30,242 | +€24,355 | +414% |
| Income taxes | 67/77 | -€3,098 | €13,171 | +€16,269 | |
| Profit (loss) for the period | 9904 | €8,985 | €17,071 | +€8,086 | +90.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,985 | €17,071 | +€8,086 | +90.0% |
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 28 October 2026 via checked.be.