PIANC: 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.
PIANC
Largest movements
- Cash +€127,003
up €127,003 (+55.8%), from €227,468 to €354,470
mainly Net result for the year (+€148,284) and Depreciation (+€80,628)
- Intangible fixed assets -€79,485
down €79,485 (-30.6%), from €259,349 to €179,864
- Receivables within one year +€47,367
up €47,367 (+35.9%), from €132,099 to €179,465
of which Trade receivables: +€46,848
- Current investments +€29,209
up €29,209 (+2.2%), from €1.3m to €1.3m
- Profit (loss) carried forward +€148,284
up €148,284 (+12.0%), from €1.2m to €1.4m
- Turnover +€165,868
up €165,868 (+22.6%), from €733,372 to €899,240
- Gross operating margin +€97,050
up €97,050 (+21.2%), from €458,775 to €555,824
- Purchases and services +€68,819
up €68,819 (+25.1%), from €274,597 to €343,416
- Financial income -€36,867
down €36,867 (-49.8%), from €74,041 to €37,173
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 | €1,949,906 | €2,073,429 | +€123,524 | +6.3% |
| Fixed assets | 21/28 | €260,646 | €180,018 | -€80,628 | -30.9% |
| Intangible fixed assets | 21 | €259,349 | €179,864 | -€79,485 | -30.6% |
| Tangible fixed assets | 22/27 | €1,297 | €154 | -€1,143 | -88.1% |
| Furniture and vehicles | 24 | €1,297 | €154 | -€1,143 | -88.1% |
| Current assets | 29/58 | €1,689,260 | €1,893,411 | +€204,151 | +12.1% |
| Amounts receivable within one year | 40/41 | €132,099 | €179,465 | +€47,367 | +35.9% |
| Trade receivables | 40 | €131,748 | €178,596 | +€46,848 | +35.6% |
| Other amounts receivable | 41 | €351 | €870 | +€519 | +147.9% |
| Current investments | 50/53 | €1,313,097 | €1,342,306 | +€29,209 | +2.2% |
| Cash at bank and in hand | 54/58 | €227,468 | €354,470 | +€127,003 | +55.8% |
| Deferred charges and accrued income | 490/1 | €16,596 | €17,169 | +€573 | +3.5% |
| Total equity and liabilities | 10/49 | €1,949,906 | €2,073,429 | +€123,524 | +6.3% |
| Equity | 10/15 | €1,824,901 | €1,973,184 | +€148,284 | +8.1% |
| Reserves | 13 | €589,993 | €589,993 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,234,908 | €1,383,191 | +€148,284 | +12.0% |
| Amounts payable | 17/49 | €125,005 | €100,245 | -€24,760 | -19.8% |
| Amounts payable within one year | 42/48 | €125,005 | €98,345 | -€26,660 | -21.3% |
| Trade debts | 44 | €45,378 | €29,784 | -€15,594 | -34.4% |
| Suppliers | 440/4 | €45,378 | €29,784 | -€15,594 | -34.4% |
| Advances received on contracts in progress | 46 | €19,000 | €7,866 | -€11,134 | -58.6% |
| Taxes, remuneration and social security | 45 | €60,627 | €60,695 | +€68 | +0.1% |
| Taxes | 450/3 | €12,791 | €12,520 | -€271 | -2.1% |
| Remuneration and social security | 454/9 | €47,836 | €48,174 | +€339 | +0.7% |
| Accrued charges and deferred income | 492/3 | - | €1,900 | +€1,900 | |
| Turnover | 70 | €733,372 | €899,240 | +€165,868 | +22.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €274,597 | €343,416 | +€68,819 | +25.1% |
| Remuneration, social security and pensions | 62 | €347,838 | €345,113 | -€2,725 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,393 | €80,628 | +€2,234 | +2.9% |
| Other operating charges | 640/8 | €17,471 | €15,357 | -€2,114 | -12.1% |
| Non-recurring operating charges | 66A | €1,227 | - | -€1,227 | |
| Gross operating margin | 9900 | €458,775 | €555,824 | +€97,050 | +21.2% |
| Operating profit (loss) | 9901 | €13,846 | €114,726 | +€100,881 | +728.6% |
| Financial income | 75/76B | €74,041 | €37,173 | -€36,867 | -49.8% |
| Recurring financial income | 75 | €74,041 | €37,173 | -€36,867 | -49.8% |
| Financial charges | 65/66B | €4,557 | €3,616 | -€941 | -20.6% |
| Recurring financial charges | 65 | €4,557 | €3,616 | -€941 | -20.6% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €83,329 | €148,284 | +€64,954 | +77.9% |
| Profit (loss) for the period | 9904 | €83,329 | €148,284 | +€64,954 | +77.9% |
| Profit (loss) for the period to be appropriated | 9905 | €83,329 | €148,284 | +€64,954 | +77.9% |
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 9 October 2026 via checked.be.