PIAM Management: 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.
PIAM Management
Largest movements
- Current investments +€270,000
new in 2025: €270,000
- Tangible fixed assets -€85,137
no longer reported in 2025 (was €85,137)
of which Land and buildings: -€66,856
- Receivables within one year +€3,576
up €3,576 (+45.2%), from €7,920 to €11,497
of which Trade receivables: +€2,248
- Reserves +€196,951
up €196,951 (+10593.3%), from €1,859 to €198,810
of which Distributable reserves: +€196,951
- Short-term financial debts -€15,472
no longer reported in 2025 (was €15,472)
- Other debts +€10,716
up €10,716 (+37.9%), from €28,301 to €39,017
- Gross operating margin +€287,420
up €287,420, from -€7,813 to €279,608
- Taxes +€79,215
up €79,215 (+58370.7%), from €136 to €79,351
- Depreciation -€6,259
no longer reported in 2025 (was €6,259)
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 | €114,183 | €302,290 | +€188,107 | +164.7% |
| Fixed assets | 21/28 | €85,687 | - | -€85,687 | |
| Tangible fixed assets | 22/27 | €85,137 | - | -€85,137 | |
| Land and buildings | 22 | €66,856 | - | -€66,856 | |
| Plant, machinery and equipment | 23 | €18,281 | - | -€18,281 | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €550 | - | -€550 | |
| Current assets | 29/58 | €28,496 | €302,290 | +€273,794 | +960.8% |
| Amounts receivable within one year | 40/41 | €7,920 | €11,497 | +€3,576 | +45.2% |
| Trade receivables | 40 | €7,905 | €10,153 | +€2,248 | +28.4% |
| Other amounts receivable | 41 | €15 | €1,344 | +€1,328 | +8786.0% |
| Current investments | 50/53 | - | €270,000 | +€270,000 | |
| Cash at bank and in hand | 54/58 | €19,781 | €20,793 | +€1,012 | +5.1% |
| Deferred charges and accrued income | 490/1 | €795 | - | -€795 | |
| Total equity and liabilities | 10/49 | €114,183 | €302,290 | +€188,107 | +164.7% |
| Equity | 10/15 | €66,114 | €263,065 | +€196,951 | +297.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €198,810 | +€196,951 | +10593.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | - | €196,951 | +€196,951 | |
| Profit (loss) carried forward | 14 | €45,663 | €45,663 | = | 0.0% |
| Amounts payable | 17/49 | €48,069 | €39,225 | -€8,844 | -18.4% |
| Amounts payable within one year | 42/48 | €47,573 | €39,225 | -€8,348 | -17.5% |
| Financial debts | 43 | €15,472 | - | -€15,472 | |
| Credit institutions | 430/8 | €15,472 | - | -€15,472 | |
| Trade debts | 44 | €2,104 | €0 | -€2,104 | -100.0% |
| Suppliers | 440/4 | €2,104 | €0 | -€2,104 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,695 | €207 | -€1,488 | -87.8% |
| Taxes | 450/3 | €1,695 | €207 | -€1,488 | -87.8% |
| Other amounts payable | 47/48 | €28,301 | €39,017 | +€10,716 | +37.9% |
| Accrued charges and deferred income | 492/3 | €496 | - | -€496 | |
| Non-recurring operating income | 76A | €1,079 | €800 | -€279 | -25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,259 | - | -€6,259 | |
| Other operating charges | 640/8 | €2,651 | €1,075 | -€1,576 | -59.4% |
| Non-recurring operating charges | 66A | €683 | - | -€683 | |
| Gross operating margin | 9900 | -€7,813 | €279,608 | +€287,420 | |
| Operating profit (loss) | 9901 | -€17,406 | €278,533 | +€295,938 | |
| Financial income | 75/76B | €141 | €604 | +€462 | +327.5% |
| Recurring financial income | 75 | €141 | €604 | +€462 | +327.5% |
| Financial charges | 65/66B | €2,445 | €2,835 | +€390 | +16.0% |
| Recurring financial charges | 65 | €2,445 | €2,835 | +€390 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | -€19,709 | €276,302 | +€296,011 | |
| Income taxes | 67/77 | €136 | €79,351 | +€79,215 | +58370.7% |
| Profit (loss) for the period | 9904 | -€19,845 | €196,951 | +€216,796 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,845 | €196,951 | +€216,796 |
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.