PIADMG: what changed
What changed
PIADMG
filed annual accounts (NBB)
Net result for the year
€118,608
2024 · €113,450+€5,158
Equity
€351,705
2024 · €233,096+€118,608
Cash
€363,841
2024 · €243,841+€120,000
Balance sheet total
€399,724
2024 · €294,828+€104,896
Largest movements
Assets
- Cash +€120,000
up €120,000 (+49.2%), from €243,841 to €363,841
mainly Net result for the year (+€118,608) and Depreciation (+€18,072)
- Tangible fixed assets -€16,499
down €16,499 (-42.4%), from €38,937 to €22,438
of which Furniture and vehicles: -€13,454
Equity and liabilities
- Profit (loss) carried forward +€118,608
up €118,608 (+50.9%), from €232,996 to €351,605
- Debts after one year -€11,558
no longer reported in 2025 (was €11,558)
Income statement
- Gross operating margin +€8,324
up €8,324 (+5.1%), from €161,898 to €170,221
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€113,450
Gross operating margin
+€8,324
Depreciation
-€966
Other operating charges
-€819
Financial income
-€416
Financial charges
+€517
Taxes
-€1,482
Result 2025
€118,608
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€136,540
Investment
-€1,573
Financing
-€14,967
Cash 2024
€243,841
From operations (derived)
+€136,540
Net result for the year
+€118,608
Depreciation
+€18,072
Receivables within one year
-€1,526
Smaller working-capital items
-€86
Tax, wage and social debts
+€1,471
Investment (derived)
-€1,573
Investment in fixed assets (net)
-€1,573
Financing
-€14,967
Debts after one year
-€11,558
Current portion of long-term debt
-€3,410
Cash 2025
€363,841
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €294,828 | €399,724 | +€104,896 | +35.6% |
| Fixed assets | 21/28 | €38,937 | €22,438 | -€16,499 | -42.4% |
| Tangible fixed assets | 22/27 | €38,937 | €22,438 | -€16,499 | -42.4% |
| Plant, machinery and equipment | 23 | €13,097 | €10,052 | -€3,045 | -23.2% |
| Furniture and vehicles | 24 | €25,840 | €12,386 | -€13,454 | -52.1% |
| Current assets | 29/58 | €255,891 | €377,286 | +€121,395 | +47.4% |
| Amounts receivable within one year | 40/41 | €9,371 | €10,897 | +€1,526 | +16.3% |
| Trade receivables | 40 | €6,030 | €7,274 | +€1,244 | +20.6% |
| Other amounts receivable | 41 | €3,342 | €3,623 | +€281 | +8.4% |
| Cash at bank and in hand | 54/58 | €243,841 | €363,841 | +€120,000 | +49.2% |
| Deferred charges and accrued income | 490/1 | €2,678 | €2,548 | -€130 | -4.9% |
| Total equity and liabilities | 10/49 | €294,828 | €399,724 | +€104,896 | +35.6% |
| Equity | 10/15 | €233,096 | €351,705 | +€118,608 | +50.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €232,996 | €351,605 | +€118,608 | +50.9% |
| Amounts payable | 17/49 | €61,732 | €48,020 | -€13,712 | -22.2% |
| Amounts payable after more than one year | 17 | €11,558 | - | -€11,558 | |
| Financial debts | 170/4 | €11,558 | - | -€11,558 | |
| Amounts payable within one year | 42/48 | €50,174 | €48,020 | -€2,154 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €14,967 | €11,558 | -€3,410 | -22.8% |
| Trade debts | 44 | €1,003 | €788 | -€216 | -21.5% |
| Suppliers | 440/4 | €1,003 | €788 | -€216 | -21.5% |
| Taxes, remuneration and social security | 45 | €34,204 | €35,675 | +€1,471 | +4.3% |
| Taxes | 450/3 | €34,204 | €35,675 | +€1,471 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,106 | €18,072 | +€966 | +5.6% |
| Other operating charges | 640/8 | €517 | €1,336 | +€819 | +158% |
| Gross operating margin | 9900 | €161,898 | €170,221 | +€8,324 | +5.1% |
| Operating profit (loss) | 9901 | €144,275 | €150,813 | +€6,538 | +4.5% |
| Financial income | 75/76B | €3,100 | €2,685 | -€416 | -13.4% |
| Recurring financial income | 75 | €3,100 | €2,685 | -€416 | -13.4% |
| Financial charges | 65/66B | €1,338 | €821 | -€517 | -38.7% |
| Recurring financial charges | 65 | €1,338 | €821 | -€517 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | €146,037 | €152,677 | +€6,640 | +4.5% |
| Income taxes | 67/77 | €32,587 | €34,069 | +€1,482 | +4.5% |
| Profit (loss) for the period | 9904 | €113,450 | €118,608 | +€5,158 | +4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €113,450 | €118,608 | +€5,158 | +4.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.