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.
PI
Largest movements
- Receivables within one year -€58,516
down €58,516 (-59.8%), from €97,921 to €39,405
of which Trade receivables: -€64,500
- Cash -€29,470
down €29,470 (-96.2%), from €30,620 to €1,150
mainly Investment in fixed assets (net) (-€31,664) and Debts after one year (-€24,323)
- Receivables after one year +€21,036
up €21,036 (+3.0%), from €693,423 to €714,459
- Debts after one year -€24,323
down €24,323 (-2.3%), from €1.0m to €1.0m
of which Other amounts payable: -€14,361
- Other debts -€24,057
down €24,057 (-14.5%), from €165,918 to €141,861
- Trade debts -€22,684
down €22,684 (-36.9%), from €61,484 to €38,800
- Gross operating margin -€49,754
down €49,754 (-35.4%), from €140,741 to €90,987
- Depreciation -€23,453
down €23,453 (-51.3%), from €45,694 to €22,241
- Taxes -€13,621
down €13,621 (-48.5%), from €28,058 to €14,438
- Financial charges +€5,744
up €5,744 (+25.5%), from €22,525 to €28,269
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 | €2,089,368 | €2,039,017 | -€50,350 | -2.4% |
| Fixed assets | 21/28 | €1,264,582 | €1,274,005 | +€9,423 | +0.7% |
| Intangible fixed assets | 21 | €5,136 | €831 | -€4,305 | -83.8% |
| Tangible fixed assets | 22/27 | €546,137 | €559,865 | +€13,728 | +2.5% |
| Land and buildings | 22 | €532,772 | €549,638 | +€16,865 | +3.2% |
| Plant, machinery and equipment | 23 | €2,841 | €1,832 | -€1,009 | -35.5% |
| Furniture and vehicles | 24 | €10,524 | €8,396 | -€2,128 | -20.2% |
| Financial fixed assets | 28 | €713,308 | €713,308 | = | 0.0% |
| Current assets | 29/58 | €824,786 | €765,012 | -€59,773 | -7.2% |
| Amounts receivable after more than one year | 29 | €693,423 | €714,459 | +€21,036 | +3.0% |
| Other amounts receivable | 291 | €693,423 | €714,459 | +€21,036 | +3.0% |
| Amounts receivable within one year | 40/41 | €97,921 | €39,405 | -€58,516 | -59.8% |
| Trade receivables | 40 | €96,000 | €31,500 | -€64,500 | -67.2% |
| Other amounts receivable | 41 | €1,921 | €7,905 | +€5,984 | +311% |
| Cash at bank and in hand | 54/58 | €30,620 | €1,150 | -€29,470 | -96.2% |
| Deferred charges and accrued income | 490/1 | €2,821 | €9,998 | +€7,177 | +254% |
| Total equity and liabilities | 10/49 | €2,089,368 | €2,039,017 | -€50,350 | -2.4% |
| Equity | 10/15 | €537,166 | €541,667 | +€4,501 | +0.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €475,666 | €480,167 | +€4,501 | +0.9% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €469,516 | €474,017 | +€4,501 | +1.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €254,026 | €254,318 | +€292 | +0.1% |
| Provisions for liabilities and charges | 160/5 | €254,026 | €254,318 | +€292 | +0.1% |
| Other liabilities and charges | 164/5 | €254,026 | €254,318 | +€292 | +0.1% |
| Amounts payable | 17/49 | €1,298,176 | €1,243,032 | -€55,144 | -4.2% |
| Amounts payable after more than one year | 17 | €1,045,399 | €1,021,077 | -€24,323 | -2.3% |
| Financial debts | 170/4 | €59,586 | €49,625 | -€9,961 | -16.7% |
| Other amounts payable | 178/9 | €985,814 | €971,452 | -€14,361 | -1.5% |
| Amounts payable within one year | 42/48 | €247,807 | €206,975 | -€40,832 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | - | €9,961 | +€9,961 | |
| Financial debts | 43 | €9,859 | €0 | -€9,859 | -100% |
| Other loans | 439 | €9,859 | €0 | -€9,859 | -100% |
| Trade debts | 44 | €61,484 | €38,800 | -€22,684 | -36.9% |
| Suppliers | 440/4 | €61,484 | €38,800 | -€22,684 | -36.9% |
| Taxes, remuneration and social security | 45 | €10,546 | €16,353 | +€5,807 | +55.1% |
| Taxes | 450/3 | €5,017 | €23 | -€4,995 | -99.5% |
| Remuneration and social security | 454/9 | €5,529 | €16,330 | +€10,801 | +195% |
| Other amounts payable | 47/48 | €165,918 | €141,861 | -€24,057 | -14.5% |
| Accrued charges and deferred income | 492/3 | €4,970 | €14,980 | +€10,010 | +201% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,694 | €22,241 | -€23,453 | -51.3% |
| Other operating charges | 640/8 | €5,645 | €6,698 | +€1,053 | +18.6% |
| Gross operating margin | 9900 | €140,741 | €90,987 | -€49,754 | -35.4% |
| Operating profit (loss) | 9901 | €89,402 | €62,048 | -€27,353 | -30.6% |
| Financial income | 75/76B | €7,181 | €7,021 | -€160 | -2.2% |
| Recurring financial income | 75 | €7,181 | €7,021 | -€160 | -2.2% |
| Financial charges | 65/66B | €22,525 | €28,269 | +€5,744 | +25.5% |
| Recurring financial charges | 65 | €22,525 | €28,269 | +€5,744 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | €74,058 | €40,800 | -€33,258 | -44.9% |
| Income taxes | 67/77 | €28,058 | €14,438 | -€13,621 | -48.5% |
| Profit (loss) for the period | 9904 | €45,999 | €26,363 | -€19,637 | -42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €45,999 | €26,363 | -€19,637 | -42.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.