LE PIVERT: 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.
LE PIVERT
Largest movements
- Cash +€6,867
up €6,867 (+25.1%), from €27,381 to €34,247
mainly Net result for the year (+€19,907) and Depreciation (+€2,327)
- Tangible fixed assets -€2,327
down €2,327 (-58.4%), from €3,983 to €1,655
of which Plant, machinery and equipment: -€2,094
- Stocks and contracts -€765
down €765 (-19.8%), from €3,858 to €3,093
- Profit (loss) carried forward +€19,907
up €19,907, from -€7,167 to €12,740
- Trade debts -€15,707
down €15,707 (-74.5%), from €21,094 to €5,386
- Debts after one year +€1,000
new in 2025: €1,000
- Tax, wage and social debts -€869
down €869 (-6.6%), from €13,219 to €12,350
of which Taxes: -€797
- Gross operating margin +€28,947
up €28,947 (+50.5%), from €57,291 to €86,237
- Staff costs +€4,113
up €4,113 (+7.9%), from €52,012 to €56,125
- Other operating charges -€898
down €898 (-16.2%), from €5,530 to €4,632
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 | €46,134 | €50,077 | +€3,943 | +8.5% |
| Fixed assets | 21/28 | €14,895 | €12,567 | -€2,327 | -15.6% |
| Tangible fixed assets | 22/27 | €3,983 | €1,655 | -€2,327 | -58.4% |
| Plant, machinery and equipment | 23 | €3,673 | €1,580 | -€2,094 | -57.0% |
| Furniture and vehicles | 24 | €309 | €76 | -€234 | -75.6% |
| Financial fixed assets | 28 | €10,912 | €10,912 | = | 0.0% |
| Current assets | 29/58 | €31,239 | €37,509 | +€6,270 | +20.1% |
| Stocks and contracts in progress | 3 | €3,858 | €3,093 | -€765 | -19.8% |
| Stocks | 30/36 | €3,858 | €3,093 | -€765 | -19.8% |
| Cash at bank and in hand | 54/58 | €27,381 | €34,247 | +€6,867 | +25.1% |
| Deferred charges and accrued income | 490/1 | - | €168 | +€168 | |
| Total equity and liabilities | 10/49 | €46,134 | €50,077 | +€3,943 | +8.5% |
| Equity | 10/15 | €11,433 | €31,340 | +€19,907 | +174% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,167 | €12,740 | +€19,907 | |
| Amounts payable | 17/49 | €34,700 | €18,737 | -€15,964 | -46.0% |
| Amounts payable after more than one year | 17 | - | €1,000 | +€1,000 | |
| Financial debts | 170/4 | - | €1,000 | +€1,000 | |
| Amounts payable within one year | 42/48 | €34,700 | €17,737 | -€16,964 | -48.9% |
| Trade debts | 44 | €21,094 | €5,386 | -€15,707 | -74.5% |
| Suppliers | 440/4 | €21,094 | €5,386 | -€15,707 | -74.5% |
| Advances received on contracts in progress | 46 | €388 | - | -€388 | |
| Taxes, remuneration and social security | 45 | €13,219 | €12,350 | -€869 | -6.6% |
| Taxes | 450/3 | €5,777 | €4,980 | -€797 | -13.8% |
| Remuneration and social security | 454/9 | €7,442 | €7,370 | -€72 | -1.0% |
| Remuneration, social security and pensions | 62 | €52,012 | €56,125 | +€4,113 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,542 | €2,327 | -€215 | -8.5% |
| Other operating charges | 640/8 | €5,530 | €4,632 | -€898 | -16.2% |
| Gross operating margin | 9900 | €57,291 | €86,237 | +€28,947 | +50.5% |
| Operating profit (loss) | 9901 | -€2,793 | €23,154 | +€25,947 | |
| Financial income | 75/76B | €82 | €59 | -€23 | -27.7% |
| Recurring financial income | 75 | €82 | €59 | -€23 | -27.7% |
| Financial charges | 65/66B | €3,455 | €3,295 | -€161 | -4.6% |
| Recurring financial charges | 65 | €3,455 | €3,295 | -€161 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,166 | €19,918 | +€26,084 | |
| Income taxes | 67/77 | €25 | €12 | -€13 | -52.9% |
| Profit (loss) for the period | 9904 | -€6,191 | €19,907 | +€26,098 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,191 | €19,907 | +€26,098 |
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 17 October 2026 via checked.be.