Pi - Project Intelligence: 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 - Project Intelligence
Largest movements
- Current investments -€300,000
down €300,000 (-97.4%), from €307,862 to €7,862
- Cash +€257,081
up €257,081 (+326.8%), from €78,670 to €335,751
mainly Current investments (+€300,000) and Depreciation (+€22,731)
- Tangible fixed assets -€17,221
down €17,221 (-6.7%), from €258,200 to €240,978
- Receivables within one year +€8,999
up €8,999 (+19.7%), from €45,773 to €54,772
of which Other amounts receivable: +€9,876
- Other debts -€27,459
down €27,459 (-18.2%), from €150,630 to €123,171
- Accrued charges and deferred income -€15,553
down €15,553 (-88.9%), from €17,493 to €1,940
- Tax, wage and social debts -€10,009
down €10,009 (-53.1%), from €18,838 to €8,829
- Reserves +€8,171
up €8,171 (+3.9%), from €208,804 to €216,976
- Gross operating margin -€69,197
down €69,197 (-56.2%), from €123,052 to €53,855
- Taxes -€19,296
down €19,296 (-71.2%), from €27,104 to €7,808
- Financial income +€3,416
up €3,416 (+488.9%), from €699 to €4,114
- Other operating charges +€2,368
up €2,368 (+513.3%), from €461 to €2,830
- Depreciation +€1,861
up €1,861 (+8.9%), from €20,870 to €22,731
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 | €708,003 | €657,171 | -€50,832 | -7.2% |
| Fixed assets | 21/28 | €274,200 | €256,978 | -€17,221 | -6.3% |
| Tangible fixed assets | 22/27 | €258,200 | €240,978 | -€17,221 | -6.7% |
| Land and buildings | 22 | €188,502 | €180,098 | -€8,404 | -4.5% |
| Plant, machinery and equipment | 23 | €172 | - | -€172 | |
| Furniture and vehicles | 24 | €17,699 | €14,909 | -€2,791 | -15.8% |
| Other tangible fixed assets | 26 | €49,066 | €43,212 | -€5,854 | -11.9% |
| Assets under construction and advance payments | 27 | €2,760 | €2,760 | = | 0.0% |
| Financial fixed assets | 28 | €16,000 | €16,000 | = | 0.0% |
| Current assets | 29/58 | €433,803 | €400,192 | -€33,611 | -7.7% |
| Amounts receivable within one year | 40/41 | €45,773 | €54,772 | +€8,999 | +19.7% |
| Trade receivables | 40 | €45,390 | €44,514 | -€877 | -1.9% |
| Other amounts receivable | 41 | €383 | €10,259 | +€9,876 | +2579.6% |
| Current investments | 50/53 | €307,862 | €7,862 | -€300,000 | -97.4% |
| Cash at bank and in hand | 54/58 | €78,670 | €335,751 | +€257,081 | +326.8% |
| Deferred charges and accrued income | 490/1 | €1,498 | €1,807 | +€309 | +20.6% |
| Total equity and liabilities | 10/49 | €708,003 | €657,171 | -€50,832 | -7.2% |
| Equity | 10/15 | €215,004 | €223,176 | +€8,171 | +3.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €208,804 | €216,976 | +€8,171 | +3.9% |
| Distributable reserves | 133 | €208,804 | €216,976 | +€8,171 | +3.9% |
| Amounts payable | 17/49 | €492,998 | €433,995 | -€59,003 | -12.0% |
| Amounts payable after more than one year | 17 | €300,000 | €300,000 | = | 0.0% |
| Financial debts | 170/4 | €300,000 | €300,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €175,505 | €132,055 | -€43,450 | -24.8% |
| Financial debts | 43 | €960 | - | -€960 | |
| Credit institutions | 430/8 | €960 | - | -€960 | |
| Trade debts | 44 | €5,077 | €55 | -€5,022 | -98.9% |
| Suppliers | 440/4 | €5,077 | €55 | -€5,022 | -98.9% |
| Taxes, remuneration and social security | 45 | €18,838 | €8,829 | -€10,009 | -53.1% |
| Taxes | 450/3 | €18,838 | €8,829 | -€10,009 | -53.1% |
| Other amounts payable | 47/48 | €150,630 | €123,171 | -€27,459 | -18.2% |
| Accrued charges and deferred income | 492/3 | €17,493 | €1,940 | -€15,553 | -88.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,870 | €22,731 | +€1,861 | +8.9% |
| Other operating charges | 640/8 | €461 | €2,830 | +€2,368 | +513.3% |
| Gross operating margin | 9900 | €123,052 | €53,855 | -€69,197 | -56.2% |
| Operating profit (loss) | 9901 | €101,721 | €28,295 | -€73,426 | -72.2% |
| Financial income | 75/76B | €699 | €4,114 | +€3,416 | +488.9% |
| Recurring financial income | 75 | €699 | €4,114 | +€3,416 | +488.9% |
| Financial charges | 65/66B | €5,177 | €5,130 | -€47 | -0.9% |
| Recurring financial charges | 65 | €5,177 | €5,130 | -€47 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €97,242 | €27,279 | -€69,963 | -71.9% |
| Income taxes | 67/77 | €27,104 | €7,808 | -€19,296 | -71.2% |
| Profit (loss) for the period | 9904 | €70,138 | €19,471 | -€50,667 | -72.2% |
| Profit (loss) for the period to be appropriated | 9905 | €70,138 | €19,471 | -€50,667 | -72.2% |
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 1 October 2026 via checked.be.