PI-construct: what changed
Two fiscal 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-construct
Largest movements
- Tangible fixed assets -€24,129
down €24,129 (-3.5%), from €691,184 to €667,055
of which Land and buildings: -€23,551
- Profit (loss) carried forward -€20,653
down €20,653, from €19,349 to -€1,305
- Other operating charges -€3,111
down €3,111 (-29.5%), from €10,560 to €7,449
- Gross operating margin +€2,551
up €2,551 (+26.6%), from €9,589 to €12,140
- Financial charges +€1,159
up €1,159 (+861.1%), from €135 to €1,293
- Depreciation -€1,010
down €1,010 (-4.0%), from €25,140 to €24,129
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.
Cash bridge derived
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 | €833,016 | €810,448 | -€22,568 | -2.7% |
| Fixed assets | 21/28 | €691,184 | €667,055 | -€24,129 | -3.5% |
| Tangible fixed assets | 22/27 | €691,184 | €667,055 | -€24,129 | -3.5% |
| Land and buildings | 22 | €690,606 | €667,055 | -€23,551 | -3.4% |
| Furniture and vehicles | 24 | €579 | €0 | -€579 | -100.0% |
| Current assets | 29/58 | €141,832 | €143,393 | +€1,561 | +1.1% |
| Amounts receivable within one year | 40/41 | €2,563 | €5,011 | +€2,448 | +95.5% |
| Trade receivables | 40 | - | €1,611 | +€1,611 | |
| Other amounts receivable | 41 | €2,563 | €3,399 | +€837 | +32.6% |
| Current investments | 50/53 | €137,155 | €132,233 | -€4,921 | -3.6% |
| Cash at bank and in hand | 54/58 | €1,560 | €5,686 | +€4,125 | +264.4% |
| Deferred charges and accrued income | 490/1 | €554 | €463 | -€91 | -16.4% |
| Total equity and liabilities | 10/49 | €833,016 | €810,448 | -€22,568 | -2.7% |
| Equity | 10/15 | €583,850 | €563,197 | -€20,653 | -3.5% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €552,106 | €552,106 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,851 | €0 | -€5,851 | -100.0% |
| Reserves not available under the articles | 1311 | €5,851 | €0 | -€5,851 | -100.0% |
| Distributable reserves | 133 | €546,256 | €552,106 | +€5,851 | +1.1% |
| Profit (loss) carried forward | 14 | €19,349 | -€1,305 | -€20,653 | |
| Amounts payable | 17/49 | €249,166 | €247,251 | -€1,915 | -0.8% |
| Amounts payable within one year | 42/48 | €249,166 | €247,251 | -€1,915 | -0.8% |
| Trade debts | 44 | €619 | €5,945 | +€5,326 | +861.1% |
| Suppliers | 440/4 | €619 | €5,945 | +€5,326 | +861.1% |
| Taxes, remuneration and social security | 45 | €683 | €552 | -€130 | -19.1% |
| Taxes | 450/3 | €683 | €552 | -€130 | -19.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €247,865 | €240,754 | -€7,111 | -2.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,140 | €24,129 | -€1,010 | -4.0% |
| Other operating charges | 640/8 | €10,560 | €7,449 | -€3,111 | -29.5% |
| Gross operating margin | 9900 | €9,589 | €12,140 | +€2,551 | +26.6% |
| Operating profit (loss) | 9901 | -€26,112 | -€19,439 | +€6,673 | +25.6% |
| Financial income | 75/76B | €148 | €113 | -€36 | -24.0% |
| Recurring financial income | 75 | €148 | €113 | -€36 | -24.0% |
| Financial charges | 65/66B | €135 | €1,293 | +€1,159 | +861.1% |
| Recurring financial charges | 65 | €135 | €1,293 | +€1,159 | +861.1% |
| Profit (loss) for the period before taxes | 9903 | -€26,098 | -€20,619 | +€5,479 | +21.0% |
| Income taxes | 67/77 | €44 | €34 | -€11 | -24.0% |
| Profit (loss) for the period | 9904 | -€26,143 | -€20,653 | +€5,489 | +21.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,143 | -€20,653 | +€5,489 | +21.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.