Pi - Logistics: 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 - Logistics
Largest movements
- Tangible fixed assets +€114,078
up €114,078 (+453.1%), from €25,176 to €139,254
- Receivables within one year +€110,338
up €110,338 (+18.8%), from €585,697 to €696,035
of which Trade receivables: +€203,939
- Cash -€66,927
down €66,927 (-23.5%), from €284,570 to €217,643
mainly Contributions, distributions and other (-€199,999) and Investment in fixed assets (net) (-€136,000)
- Trade debts +€104,680
up €104,680 (+18.4%), from €569,816 to €674,496
- Debts after one year +€66,534
up €66,534 (+636.4%), from €10,455 to €76,989
- Other debts +€51,785
up €51,785 (+33.4%), from €154,940 to €206,725
- Profit (loss) carried forward -€42,750
down €42,750 (-78.5%), from €54,459 to €11,709
- Tax, wage and social debts -€34,966
down €34,966 (-45.7%), from €76,510 to €41,544
of which Taxes: -€35,104
- Gross operating margin +€37,726
up €37,726 (+12.4%), from €304,173 to €341,899
- Depreciation +€13,331
up €13,331 (+155.2%), from €8,591 to €21,922
- Taxes +€7,642
up €7,642 (+14.9%), from €51,155 to €58,797
- Staff costs +€4,838
up €4,838 (+5.0%), from €96,030 to €100,868
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €895,443 | €1,058,030 | +€162,587 | +18.2% |
| Fixed assets | 21/28 | €25,176 | €139,254 | +€114,078 | +453.1% |
| Tangible fixed assets | 22/27 | €25,176 | €139,254 | +€114,078 | +453.1% |
| Furniture and vehicles | 24 | €25,176 | €139,254 | +€114,078 | +453.1% |
| Current assets | 29/58 | €870,267 | €918,776 | +€48,509 | +5.6% |
| Amounts receivable within one year | 40/41 | €585,697 | €696,035 | +€110,338 | +18.8% |
| Trade receivables | 40 | €410,757 | €614,696 | +€203,939 | +49.6% |
| Other amounts receivable | 41 | €174,940 | €81,339 | -€93,601 | -53.5% |
| Cash at bank and in hand | 54/58 | €284,570 | €217,643 | -€66,927 | -23.5% |
| Deferred charges and accrued income | 490/1 | - | €5,099 | +€5,099 | |
| Total equity and liabilities | 10/49 | €895,443 | €1,058,030 | +€162,587 | +18.2% |
| Equity | 10/15 | €73,059 | €30,309 | -€42,750 | -58.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,459 | €11,709 | -€42,750 | -78.5% |
| Amounts payable | 17/49 | €822,384 | €1,027,721 | +€205,337 | +25.0% |
| Amounts payable after more than one year | 17 | €10,455 | €76,989 | +€66,534 | +636.4% |
| Financial debts | 170/4 | €10,455 | €76,989 | +€66,534 | +636.4% |
| Amounts payable within one year | 42/48 | €810,766 | €950,732 | +€139,966 | +17.3% |
| Current portion of amounts payable after more than one year | 42 | €9,500 | €27,967 | +€18,467 | +194.4% |
| Trade debts | 44 | €569,816 | €674,496 | +€104,680 | +18.4% |
| Suppliers | 440/4 | €569,816 | €674,496 | +€104,680 | +18.4% |
| Taxes, remuneration and social security | 45 | €76,510 | €41,544 | -€34,966 | -45.7% |
| Taxes | 450/3 | €63,934 | €28,830 | -€35,104 | -54.9% |
| Remuneration and social security | 454/9 | €12,576 | €12,714 | +€138 | +1.1% |
| Other amounts payable | 47/48 | €154,940 | €206,725 | +€51,785 | +33.4% |
| Accrued charges and deferred income | 492/3 | €1,163 | - | -€1,163 | |
| Remuneration, social security and pensions | 62 | €96,030 | €100,868 | +€4,838 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,591 | €21,922 | +€13,331 | +155.2% |
| Other operating charges | 640/8 | €1,048 | €1,440 | +€392 | +37.4% |
| Gross operating margin | 9900 | €304,173 | €341,899 | +€37,726 | +12.4% |
| Operating profit (loss) | 9901 | €198,504 | €217,670 | +€19,166 | +9.7% |
| Financial income | 75/76B | - | €770 | +€770 | |
| Recurring financial income | 75 | - | €770 | +€770 | |
| Financial charges | 65/66B | €2,134 | €2,393 | +€259 | +12.1% |
| Recurring financial charges | 65 | €2,134 | €2,393 | +€259 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €196,370 | €216,047 | +€19,677 | +10.0% |
| Income taxes | 67/77 | €51,155 | €58,797 | +€7,642 | +14.9% |
| Profit (loss) for the period | 9904 | €145,215 | €157,249 | +€12,034 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €145,215 | €157,249 | +€12,034 | +8.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.