PIA Advisory: 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.
PIA Advisory
Largest movements
- Receivables within one year +€247,029
up €247,029 (+127.7%), from €193,421 to €440,450
of which Trade receivables: +€327,024
- Cash +€40,072
up €40,072 (+177.6%), from €22,558 to €62,631
mainly Trade debts (+€675,918) and Tax, wage and social debts (+€80,995)
- Trade debts +€675,918
up €675,918 (+404.2%), from €167,212 to €843,131
- Profit (loss) carried forward -€471,192
down €471,192 (-919.7%), from -€51,233 to -€522,425
- Tax, wage and social debts +€80,995
new in 2025: €80,995
of which Remuneration and social security: +€50,000
- Gross operating margin -€414,614
down €414,614 (-817.6%), from -€50,712 to -€465,326
- Financial charges +€6,044
up €6,044 (+5488.4%), from €110 to €6,155
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 | €215,979 | €503,081 | +€287,102 | +132.9% |
| Current assets | 29/58 | €215,979 | €503,081 | +€287,102 | +132.9% |
| Amounts receivable within one year | 40/41 | €193,421 | €440,450 | +€247,029 | +127.7% |
| Trade receivables | 40 | €112,998 | €440,022 | +€327,024 | +289.4% |
| Other amounts receivable | 41 | €80,423 | €428 | -€79,995 | -99.5% |
| Cash at bank and in hand | 54/58 | €22,558 | €62,631 | +€40,072 | +177.6% |
| Total equity and liabilities | 10/49 | €215,979 | €503,081 | +€287,102 | +132.9% |
| Equity | 10/15 | €48,767 | -€422,425 | -€471,192 | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,233 | -€522,425 | -€471,192 | -919.7% |
| Amounts payable | 17/49 | €167,212 | €925,507 | +€758,294 | +453.5% |
| Amounts payable within one year | 42/48 | €167,212 | €925,507 | +€758,294 | +453.5% |
| Trade debts | 44 | €167,212 | €843,131 | +€675,918 | +404.2% |
| Suppliers | 440/4 | €167,212 | €843,131 | +€675,918 | +404.2% |
| Advances received on contracts in progress | 46 | - | €1,381 | +€1,381 | |
| Taxes, remuneration and social security | 45 | - | €80,995 | +€80,995 | |
| Taxes | 450/3 | - | €30,995 | +€30,995 | |
| Remuneration and social security | 454/9 | - | €50,000 | +€50,000 | |
| Other operating charges | 640/8 | €537 | €550 | +€12 | +2.3% |
| Gross operating margin | 9900 | -€50,712 | -€465,326 | -€414,614 | -817.6% |
| Operating profit (loss) | 9901 | -€51,249 | -€465,876 | -€414,627 | -809.0% |
| Financial income | 75/76B | €127 | €838 | +€711 | +560.7% |
| Recurring financial income | 75 | €127 | €838 | +€711 | +560.7% |
| Financial charges | 65/66B | €110 | €6,155 | +€6,044 | +5488.4% |
| Recurring financial charges | 65 | €110 | €6,155 | +€6,044 | +5488.4% |
| Profit (loss) for the period before taxes | 9903 | -€51,233 | -€471,192 | -€419,960 | -819.7% |
| Profit (loss) for the period | 9904 | -€51,233 | -€471,192 | -€419,960 | -819.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,233 | -€471,192 | -€419,960 | -819.7% |
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.