pi-design: 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-design
Largest movements
- Tangible fixed assets +€32,293
up €32,293 (+186.3%), from €17,334 to €49,627
of which Furniture and vehicles: +€33,684
- Cash -€27,556
down €27,556 (-32.1%), from €85,741 to €58,185
mainly Investment in fixed assets (net) (-€41,944) and Other debts (-€18,714)
- Receivables within one year -€5,147
down €5,147 (-31.6%), from €16,280 to €11,132
of which Trade receivables: -€6,688
- Other debts -€18,714
down €18,714 (-12.7%), from €147,141 to €128,427
- Debts after one year +€13,200
new in 2025: €13,200
- Profit (loss) carried forward +€7,903
up €7,903 (+18.1%), from -€43,747 to -€35,844
- Trade debts -€5,516
down €5,516 (-87.6%), from €6,294 to €778
- Current portion of long-term debt +€4,831
new in 2025: €4,831
- Gross operating margin -€34,845
down €34,845 (-61.0%), from €57,157 to €22,311
- Taxes +€3,188
up €3,188 (+1176.2%), from €271 to €3,459
- Depreciation +€2,434
up €2,434 (+33.7%), from €7,218 to €9,652
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 | €120,884 | €119,867 | -€1,017 | -0.8% |
| Fixed assets | 21/28 | €17,334 | €49,627 | +€32,293 | +186.3% |
| Tangible fixed assets | 22/27 | €17,334 | €49,627 | +€32,293 | +186.3% |
| Land and buildings | 22 | €652 | €652 | = | 0.0% |
| Plant, machinery and equipment | 23 | €5,883 | €4,492 | -€1,391 | -23.6% |
| Furniture and vehicles | 24 | €10,799 | €44,483 | +€33,684 | +311.9% |
| Current assets | 29/58 | €103,550 | €70,240 | -€33,310 | -32.2% |
| Amounts receivable within one year | 40/41 | €16,280 | €11,132 | -€5,147 | -31.6% |
| Trade receivables | 40 | €16,280 | €9,591 | -€6,688 | -41.1% |
| Other amounts receivable | 41 | - | €1,541 | +€1,541 | |
| Cash at bank and in hand | 54/58 | €85,741 | €58,185 | -€27,556 | -32.1% |
| Deferred charges and accrued income | 490/1 | €1,530 | €923 | -€607 | -39.7% |
| Total equity and liabilities | 10/49 | €120,884 | €119,867 | -€1,017 | -0.8% |
| Equity | 10/15 | -€37,320 | -€29,417 | +€7,903 | +21.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €227 | €227 | = | 0.0% |
| Tax-exempt reserves | 132 | €227 | €227 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,747 | -€35,844 | +€7,903 | +18.1% |
| Amounts payable | 17/49 | €158,204 | €149,283 | -€8,921 | -5.6% |
| Amounts payable after more than one year | 17 | - | €13,200 | +€13,200 | |
| Financial debts | 170/4 | - | €13,200 | +€13,200 | |
| Amounts payable within one year | 42/48 | €158,204 | €136,083 | -€22,121 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | - | €4,831 | +€4,831 | |
| Trade debts | 44 | €6,294 | €778 | -€5,516 | -87.6% |
| Suppliers | 440/4 | €6,294 | €778 | -€5,516 | -87.6% |
| Taxes, remuneration and social security | 45 | €4,769 | €2,047 | -€2,722 | -57.1% |
| Taxes | 450/3 | €4,769 | €2,047 | -€2,722 | -57.1% |
| Other amounts payable | 47/48 | €147,141 | €128,427 | -€18,714 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,218 | €9,652 | +€2,434 | +33.7% |
| Other operating charges | 640/8 | €488 | €574 | +€86 | +17.5% |
| Gross operating margin | 9900 | €57,157 | €22,311 | -€34,845 | -61.0% |
| Operating profit (loss) | 9901 | €49,451 | €12,086 | -€37,365 | -75.6% |
| Financial income | 75/76B | €4 | €2 | -€2 | -47.6% |
| Recurring financial income | 75 | €4 | €2 | -€2 | -47.6% |
| Financial charges | 65/66B | €393 | €725 | +€333 | +84.8% |
| Recurring financial charges | 65 | €393 | €725 | +€333 | +84.8% |
| Profit (loss) for the period before taxes | 9903 | €49,062 | €11,362 | -€37,699 | -76.8% |
| Income taxes | 67/77 | €271 | €3,459 | +€3,188 | +1176.2% |
| Profit (loss) for the period | 9904 | €48,790 | €7,903 | -€40,887 | -83.8% |
| Profit (loss) for the period to be appropriated | 9905 | €48,790 | €7,903 | -€40,887 | -83.8% |
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 9 October 2026 via checked.be.