PI4MGT: 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.
PI4MGT
Largest movements
- Cash -€34,005
down €34,005 (-44.4%), from €76,591 to €42,586
mainly Other debts (-€21,969) and Contributions, distributions and other (-€15,000)
- Tangible fixed assets +€10,257
up €10,257 (+318.8%), from €3,217 to €13,474
- Deferred charges and accrued income +€5,030
up €5,030 (+101.5%), from €4,954 to €9,985
- Receivables within one year +€1,644
up €1,644 (+12.7%), from €12,983 to €14,628
of which Other amounts receivable: +€1,850
- Other debts -€21,969
down €21,969 (-57.1%), from €38,446 to €16,477
- Reserves +€7,205
up €7,205 (+19.9%), from €36,135 to €43,340
- Tax, wage and social debts -€3,149
down €3,149 (-74.1%), from €4,250 to €1,101
- Gross operating margin -€11,657
down €11,657 (-24.4%), from €47,684 to €36,027
- Taxes -€2,518
down €2,518 (-23.6%), from €10,691 to €8,172
- Depreciation +€2,407
up €2,407 (+181.9%), from €1,323 to €3,730
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 | €97,746 | €80,673 | -€17,073 | -17.5% |
| Fixed assets | 21/28 | €3,217 | €13,474 | +€10,257 | +318.8% |
| Tangible fixed assets | 22/27 | €3,217 | €13,474 | +€10,257 | +318.8% |
| Furniture and vehicles | 24 | €3,217 | €13,474 | +€10,257 | +318.8% |
| Current assets | 29/58 | €94,529 | €67,198 | -€27,330 | -28.9% |
| Amounts receivable within one year | 40/41 | €12,983 | €14,628 | +€1,644 | +12.7% |
| Trade receivables | 40 | €12,983 | €12,778 | -€206 | -1.6% |
| Other amounts receivable | 41 | €0 | €1,850 | +€1,850 | |
| Cash at bank and in hand | 54/58 | €76,591 | €42,586 | -€34,005 | -44.4% |
| Deferred charges and accrued income | 490/1 | €4,954 | €9,985 | +€5,030 | +101.5% |
| Total equity and liabilities | 10/49 | €97,746 | €80,673 | -€17,073 | -17.5% |
| Equity | 10/15 | €54,735 | €61,940 | +€7,205 | +13.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,135 | €43,340 | +€7,205 | +19.9% |
| Distributable reserves | 133 | €36,135 | €43,340 | +€7,205 | +19.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €43,011 | €18,733 | -€24,278 | -56.4% |
| Amounts payable within one year | 42/48 | €43,011 | €18,733 | -€24,278 | -56.4% |
| Trade debts | 44 | €315 | €1,155 | +€840 | +266.3% |
| Suppliers | 440/4 | €315 | €1,155 | +€840 | +266.3% |
| Taxes, remuneration and social security | 45 | €4,250 | €1,101 | -€3,149 | -74.1% |
| Taxes | 450/3 | €4,250 | €1,101 | -€3,149 | -74.1% |
| Other amounts payable | 47/48 | €38,446 | €16,477 | -€21,969 | -57.1% |
| Non-recurring operating income | 76A | - | €4,545 | +€4,545 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,323 | €3,730 | +€2,407 | +181.9% |
| Other operating charges | 640/8 | €691 | €870 | +€179 | +26.0% |
| Gross operating margin | 9900 | €47,684 | €36,027 | -€11,657 | -24.4% |
| Operating profit (loss) | 9901 | €45,670 | €31,427 | -€14,243 | -31.2% |
| Financial charges | 65/66B | €1,154 | €1,049 | -€105 | -9.1% |
| Recurring financial charges | 65 | €1,154 | €1,049 | -€105 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €44,516 | €30,378 | -€14,138 | -31.8% |
| Income taxes | 67/77 | €10,691 | €8,172 | -€2,518 | -23.6% |
| Profit (loss) for the period | 9904 | €33,825 | €22,205 | -€11,620 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €33,825 | €22,205 | -€11,620 | -34.4% |
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 10 October 2026 via checked.be.