Pi:NUTS: 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:NUTS
Largest movements
- Financial fixed assets +€35,000
new in 2025: €35,000
- Cash -€27,617
down €27,617 (-19.6%), from €140,768 to €113,151
mainly Investment in fixed assets (net) (-€39,743) and Trade debts (-€20,202)
- Receivables within one year +€20,109
up €20,109 (+38.1%), from €52,716 to €72,825
of which Other amounts receivable: +€14,465
- Reserves +€47,621
up €47,621 (+26.8%), from €177,831 to €225,451
- Trade debts -€20,202
down €20,202 (-77.6%), from €26,021 to €5,819
- Gross operating margin +€49,992
up €49,992 (+297.2%), from €16,822 to €66,815
- Taxes +€9,630
up €9,630 (+251.3%), from €3,832 to €13,462
- Financial income -€1,582
down €1,582 (-46.7%), from €3,389 to €1,807
- Other operating charges +€1,392
up €1,392 (+147.3%), from €946 to €2,338
- Depreciation +€784
up €784 (+23.1%), from €3,398 to €4,181
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 | €209,977 | €238,031 | +€28,054 | +13.4% |
| Fixed assets | 21/28 | €16,205 | €51,766 | +€35,561 | +219.5% |
| Tangible fixed assets | 22/27 | €16,205 | €16,766 | +€561 | +3.5% |
| Plant, machinery and equipment | 23 | €7,207 | €8,454 | +€1,248 | +17.3% |
| Furniture and vehicles | 24 | €1,627 | €1,691 | +€64 | +3.9% |
| Other tangible fixed assets | 26 | €7,371 | €6,621 | -€750 | -10.2% |
| Financial fixed assets | 28 | - | €35,000 | +€35,000 | |
| Current assets | 29/58 | €193,773 | €186,265 | -€7,508 | -3.9% |
| Amounts receivable within one year | 40/41 | €52,716 | €72,825 | +€20,109 | +38.1% |
| Trade receivables | 40 | €42,810 | €48,455 | +€5,644 | +13.2% |
| Other amounts receivable | 41 | €9,906 | €24,370 | +€14,465 | +146.0% |
| Cash at bank and in hand | 54/58 | €140,768 | €113,151 | -€27,617 | -19.6% |
| Deferred charges and accrued income | 490/1 | €289 | €289 | = | 0.0% |
| Total equity and liabilities | 10/49 | €209,977 | €238,031 | +€28,054 | +13.4% |
| Equity | 10/15 | €180,331 | €227,951 | +€47,621 | +26.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €177,831 | €225,451 | +€47,621 | +26.8% |
| Distributable reserves | 133 | €177,831 | €225,451 | +€47,621 | +26.8% |
| Amounts payable | 17/49 | €29,647 | €10,080 | -€19,567 | -66.0% |
| Amounts payable within one year | 42/48 | €29,647 | €10,080 | -€19,567 | -66.0% |
| Trade debts | 44 | €26,021 | €5,819 | -€20,202 | -77.6% |
| Suppliers | 440/4 | €26,021 | €5,819 | -€20,202 | -77.6% |
| Taxes, remuneration and social security | 45 | €3,626 | €4,261 | +€635 | +17.5% |
| Taxes | 450/3 | €3,626 | €4,166 | +€541 | +14.9% |
| Remuneration and social security | 454/9 | - | €95 | +€95 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,398 | €4,181 | +€784 | +23.1% |
| Other operating charges | 640/8 | €946 | €2,338 | +€1,392 | +147.3% |
| Gross operating margin | 9900 | €16,822 | €66,815 | +€49,992 | +297.2% |
| Operating profit (loss) | 9901 | €12,479 | €60,295 | +€47,816 | +383.2% |
| Financial income | 75/76B | €3,389 | €1,807 | -€1,582 | -46.7% |
| Recurring financial income | 75 | €3,389 | €1,807 | -€1,582 | -46.7% |
| Financial charges | 65/66B | €1,485 | €1,020 | -€465 | -31.3% |
| Recurring financial charges | 65 | €1,485 | €1,020 | -€465 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €14,384 | €61,083 | +€46,699 | +324.7% |
| Income taxes | 67/77 | €3,832 | €13,462 | +€9,630 | +251.3% |
| Profit (loss) for the period | 9904 | €10,551 | €47,621 | +€37,069 | +351.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,551 | €47,621 | +€37,069 | +351.3% |
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 7 October 2026 via checked.be.