Pi-concept: 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-concept
Largest movements
- Cash -€1,430
down €1,430 (-4.0%), from €35,855 to €34,425
mainly Investment in fixed assets (net) (-€4,039) and Current portion of long-term debt (-€3,402)
- Receivables within one year -€886
down €886 (-22.5%), from €3,931 to €3,045
of which Trade receivables: -€2,526
- Current portion of long-term debt -€3,402
down €3,402 (-100%), from €3,402 to €0
- Reserves +€1,593
up €1,593 (+4.7%), from €33,633 to €35,226
- Trade debts -€1,271
down €1,271 (-72.2%), from €1,761 to €490
- Gross operating margin -€4,723
down €4,723 (-32.2%), from €14,669 to €9,946
- Taxes -€1,547
down €1,547 (-53.2%), from €2,908 to €1,361
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 | €47,371 | €44,291 | -€3,080 | -6.5% |
| Fixed assets | 21/28 | €6,726 | €6,307 | -€419 | -6.2% |
| Intangible fixed assets | 21 | €614 | €514 | -€100 | -16.3% |
| Tangible fixed assets | 22/27 | €6,112 | €5,793 | -€319 | -5.2% |
| Plant, machinery and equipment | 23 | €2,114 | €5,294 | +€3,181 | +150% |
| Furniture and vehicles | 24 | €3,999 | €499 | -€3,500 | -87.5% |
| Current assets | 29/58 | €40,644 | €37,984 | -€2,661 | -6.5% |
| Amounts receivable within one year | 40/41 | €3,931 | €3,045 | -€886 | -22.5% |
| Trade receivables | 40 | €2,526 | €0 | -€2,526 | -100% |
| Other amounts receivable | 41 | €1,405 | €3,045 | +€1,640 | +117% |
| Cash at bank and in hand | 54/58 | €35,855 | €34,425 | -€1,430 | -4.0% |
| Deferred charges and accrued income | 490/1 | €859 | €514 | -€345 | -40.2% |
| Total equity and liabilities | 10/49 | €47,371 | €44,291 | -€3,080 | -6.5% |
| Equity | 10/15 | €36,633 | €38,226 | +€1,593 | +4.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €33,633 | €35,226 | +€1,593 | +4.7% |
| Distributable reserves | 133 | €33,633 | €35,226 | +€1,593 | +4.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €10,738 | €6,065 | -€4,673 | -43.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €10,738 | €6,065 | -€4,673 | -43.5% |
| Current portion of amounts payable after more than one year | 42 | €3,402 | €0 | -€3,402 | -100% |
| Trade debts | 44 | €1,761 | €490 | -€1,271 | -72.2% |
| Suppliers | 440/4 | €1,761 | €490 | -€1,271 | -72.2% |
| Other amounts payable | 47/48 | €5,575 | €5,575 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,417 | €4,458 | +€41 | +0.9% |
| Other operating charges | 640/8 | €718 | €714 | -€3 | -0.5% |
| Gross operating margin | 9900 | €14,669 | €9,946 | -€4,723 | -32.2% |
| Operating profit (loss) | 9901 | €9,534 | €4,774 | -€4,760 | -49.9% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €98 | €71 | -€27 | -28.0% |
| Recurring financial charges | 65 | €98 | €71 | -€27 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | €9,436 | €4,704 | -€4,732 | -50.1% |
| Income taxes | 67/77 | €2,908 | €1,361 | -€1,547 | -53.2% |
| Profit (loss) for the period | 9904 | €6,528 | €3,343 | -€3,184 | -48.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,528 | €3,343 | -€3,184 | -48.8% |
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 20 October 2026 via checked.be.