Pi Delta: 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 Delta
Largest movements
- Cash -€87,778
down €87,778 (-50.6%), from €173,560 to €85,782
mainly Contributions, distributions and other (-€260,881) and Tax, wage and social debts (-€19,286)
- Tangible fixed assets +€5,957
up €5,957 (+334.5%), from €1,781 to €7,738
of which Furniture and vehicles: +€5,609
- Receivables within one year +€5,258
up €5,258 (+29.4%), from €17,883 to €23,141
of which Trade receivables: +€5,273
- Reserves -€159,834
down €159,834 (-100.0%), from €159,834 to €0
- Other debts +€103,175
up €103,175 (+22703.3%), from €454 to €103,630
- Tax, wage and social debts -€19,286
down €19,286 (-63.0%), from €30,622 to €11,336
- Gross operating margin +€21,149
up €21,149 (+18.9%), from €112,020 to €133,169
- Taxes +€6,162
up €6,162 (+27.1%), from €22,713 to €28,876
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 | €193,377 | €118,015 | -€75,362 | -39.0% |
| Fixed assets | 21/28 | €1,781 | €7,738 | +€5,957 | +334.5% |
| Tangible fixed assets | 22/27 | €1,781 | €7,738 | +€5,957 | +334.5% |
| Plant, machinery and equipment | 23 | €560 | €908 | +€348 | +62.2% |
| Furniture and vehicles | 24 | €1,221 | €6,830 | +€5,609 | +459.3% |
| Current assets | 29/58 | €191,596 | €110,277 | -€81,319 | -42.4% |
| Amounts receivable within one year | 40/41 | €17,883 | €23,141 | +€5,258 | +29.4% |
| Trade receivables | 40 | €17,868 | €23,141 | +€5,273 | +29.5% |
| Other amounts receivable | 41 | €15 | €0 | -€15 | -100.0% |
| Cash at bank and in hand | 54/58 | €173,560 | €85,782 | -€87,778 | -50.6% |
| Deferred charges and accrued income | 490/1 | €153 | €1,353 | +€1,200 | +781.9% |
| Total equity and liabilities | 10/49 | €193,377 | €118,015 | -€75,362 | -39.0% |
| Equity | 10/15 | €161,834 | €2,000 | -€159,834 | -98.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €159,834 | €0 | -€159,834 | -100.0% |
| Distributable reserves | 133 | €159,834 | €0 | -€159,834 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €31,543 | €116,015 | +€84,472 | +267.8% |
| Amounts payable within one year | 42/48 | €31,543 | €116,015 | +€84,472 | +267.8% |
| Trade debts | 44 | €466 | €1,049 | +€583 | +125.2% |
| Suppliers | 440/4 | €466 | €1,049 | +€583 | +125.2% |
| Taxes, remuneration and social security | 45 | €30,622 | €11,336 | -€19,286 | -63.0% |
| Taxes | 450/3 | €30,622 | €11,336 | -€19,286 | -63.0% |
| Other amounts payable | 47/48 | €454 | €103,630 | +€103,175 | +22703.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €520 | €1,226 | +€707 | +136.0% |
| Other operating charges | 640/8 | €493 | €451 | -€42 | -8.4% |
| Gross operating margin | 9900 | €112,020 | €133,169 | +€21,149 | +18.9% |
| Operating profit (loss) | 9901 | €111,008 | €131,491 | +€20,484 | +18.5% |
| Financial charges | 65/66B | €1,937 | €1,569 | -€368 | -19.0% |
| Recurring financial charges | 65 | €1,937 | €1,569 | -€368 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €109,071 | €129,922 | +€20,852 | +19.1% |
| Income taxes | 67/77 | €22,713 | €28,876 | +€6,162 | +27.1% |
| Profit (loss) for the period | 9904 | €86,357 | €101,047 | +€14,689 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €86,357 | €101,047 | +€14,689 | +17.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.