More Than Pi: 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.
More Than Pi
Largest movements
- Cash +€83,351
up €83,351 (+104%), from €80,311 to €163,662
mainly Net result for the year (+€84,680) and Tax, wage and social debts (+€23,208)
- Receivables within one year +€10,693
up €10,693 (+32.5%), from €32,865 to €43,558
of which Trade receivables: +€10,693
- Reserves +€84,680
up €84,680 (+115%), from €73,704 to €158,383
- Tax, wage and social debts +€23,208
up €23,208 (+106%), from €21,869 to €45,077
- Other debts -€13,283
down €13,283 (-90.0%), from €14,766 to €1,483
- Gross operating margin +€14,248
up €14,248 (+15.1%), from €94,421 to €108,669
- Taxes +€3,523
up €3,523 (+18.6%), from €18,908 to €22,431
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 | €113,176 | €207,362 | +€94,187 | +83.2% |
| Current assets | 29/58 | €113,176 | €207,362 | +€94,187 | +83.2% |
| Amounts receivable within one year | 40/41 | €32,865 | €43,558 | +€10,693 | +32.5% |
| Trade receivables | 40 | €32,864 | €43,557 | +€10,693 | +32.5% |
| Other amounts receivable | 41 | €0 | €1 | +€0 | +93.5% |
| Cash at bank and in hand | 54/58 | €80,311 | €163,662 | +€83,351 | +104% |
| Deferred charges and accrued income | 490/1 | - | €143 | +€143 | |
| Total equity and liabilities | 10/49 | €113,176 | €207,362 | +€94,187 | +83.2% |
| Equity | 10/15 | €74,704 | €159,383 | +€84,680 | +113% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €73,704 | €158,383 | +€84,680 | +115% |
| Distributable reserves | 133 | €73,704 | €158,383 | +€84,680 | +115% |
| Amounts payable | 17/49 | €38,472 | €47,979 | +€9,507 | +24.7% |
| Amounts payable within one year | 42/48 | €38,472 | €47,979 | +€9,507 | +24.7% |
| Trade debts | 44 | €1,837 | €1,419 | -€418 | -22.8% |
| Suppliers | 440/4 | €1,837 | €1,419 | -€418 | -22.8% |
| Taxes, remuneration and social security | 45 | €21,869 | €45,077 | +€23,208 | +106% |
| Taxes | 450/3 | €21,869 | €45,077 | +€23,208 | +106% |
| Other amounts payable | 47/48 | €14,766 | €1,483 | -€13,283 | -90.0% |
| Other operating charges | 640/8 | €228 | €0 | -€228 | -100% |
| Gross operating margin | 9900 | €94,421 | €108,669 | +€14,248 | +15.1% |
| Operating profit (loss) | 9901 | €94,193 | €108,669 | +€14,476 | +15.4% |
| Financial income | 75/76B | €0 | €280 | +€280 | +82,218% |
| Recurring financial income | 75 | €0 | €280 | +€280 | +82,218% |
| Financial charges | 65/66B | €1,582 | €1,838 | +€256 | +16.2% |
| Recurring financial charges | 65 | €1,582 | €1,838 | +€256 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €92,612 | €107,111 | +€14,499 | +15.7% |
| Income taxes | 67/77 | €18,908 | €22,431 | +€3,523 | +18.6% |
| Profit (loss) for the period | 9904 | €73,704 | €84,680 | +€10,976 | +14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €73,704 | €84,680 | +€10,976 | +14.9% |
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.