PI CAPITAL MANAGEMENT: what changed
PI CAPITAL MANAGEMENT
Largest movements
- Receivables within one year -€918
down €918 (-65.8%), from €1,396 to €478
of which Trade receivables: -€550
- Financial fixed assets +€896
up €896 (+2.2%), from €41,563 to €42,459
- Other debts +€3,960
up €3,960 (+47.7%), from €8,300 to €12,260
- Trade debts -€3,004
down €3,004 (-93.8%), from €3,204 to €200
- Profit (loss) carried forward -€837
down €837 (-2.8%), from -€30,384 to -€31,221
- Write-downs -€4,000
new in 2025: -€4,000
- Gross operating margin -€2,690
down €2,690, from €2,180 to -€510
- Taxes -€414
down €414 (-100%), from €414 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,034 | €42,962 | -€72 | -0.2% |
| Fixed assets | 21/28 | €41,563 | €42,459 | +€896 | +2.2% |
| Financial fixed assets | 28 | €41,563 | €42,459 | +€896 | +2.2% |
| Current assets | 29/58 | €1,471 | €503 | -€968 | -65.8% |
| Amounts receivable within one year | 40/41 | €1,396 | €478 | -€918 | -65.8% |
| Trade receivables | 40 | €1,027 | €478 | -€550 | -53.5% |
| Other amounts receivable | 41 | €369 | €0 | -€369 | -100% |
| Cash at bank and in hand | 54/58 | €75 | €25 | -€49 | -66.1% |
| Total equity and liabilities | 10/49 | €43,034 | €42,962 | -€72 | -0.2% |
| Equity | 10/15 | €31,116 | €30,279 | -€837 | -2.7% |
| 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% |
| Profit (loss) carried forward | 14 | -€30,384 | -€31,221 | -€837 | -2.8% |
| Amounts payable | 17/49 | €11,917 | €12,683 | +€765 | +6.4% |
| Amounts payable within one year | 42/48 | €11,917 | €12,683 | +€765 | +6.4% |
| Trade debts | 44 | €3,204 | €200 | -€3,004 | -93.8% |
| Suppliers | 440/4 | €3,204 | €200 | -€3,004 | -93.8% |
| Taxes, remuneration and social security | 45 | €414 | €223 | -€191 | -46.1% |
| Taxes | 450/3 | €414 | €223 | -€191 | -46.1% |
| Other amounts payable | 47/48 | €8,300 | €12,260 | +€3,960 | +47.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€4,000 | -€4,000 | |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Non-recurring operating charges | 66A | - | €4,000 | +€4,000 | |
| Gross operating margin | 9900 | €2,180 | -€510 | -€2,690 | |
| Operating profit (loss) | 9901 | €2,062 | -€630 | -€2,692 | |
| Financial charges | 65/66B | €197 | €207 | +€10 | +5.3% |
| Recurring financial charges | 65 | €197 | €207 | +€10 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €1,866 | -€837 | -€2,703 | |
| Income taxes | 67/77 | €414 | €0 | -€414 | -100% |
| Profit (loss) for the period | 9904 | €1,452 | -€837 | -€2,289 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,452 | -€837 | -€2,289 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.