PIANCO: 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.
PIANCO
Largest movements
- Tangible fixed assets +€160,684
up €160,684 (+55.5%), from €289,471 to €450,155
- Cash +€73,880
up €73,880 (+2,584%), from €2,860 to €76,739
mainly Debts after one year (+€213,750) and Current investments (+€16,000)
- Current investments -€16,000
no longer reported in 2025 (was €16,000)
- Debts after one year +€213,750
new in 2025: €213,750
- Financial income -€1,408
down €1,408 (-90.4%), from €1,557 to €150
- Depreciation -€1,385
down €1,385 (-14.0%), from €9,927 to €8,543
- Gross operating margin -€1,075
down €1,075 (-7.2%), from €14,924 to €13,849
- Other operating charges -€755
down €755 (-19.3%), from €3,917 to €3,162
- Financial charges +€542
up €542 (+188%), from €288 to €830
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.
Derived cash bridge
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 | €313,369 | €534,112 | +€220,743 | +70.4% |
| Fixed assets | 21/28 | €289,471 | €450,155 | +€160,684 | +55.5% |
| Tangible fixed assets | 22/27 | €289,471 | €450,155 | +€160,684 | +55.5% |
| Land and buildings | 22 | €289,471 | €450,155 | +€160,684 | +55.5% |
| Current assets | 29/58 | €23,897 | €83,957 | +€60,059 | +251% |
| Amounts receivable within one year | 40/41 | €4,409 | €6,588 | +€2,180 | +49.4% |
| Other amounts receivable | 41 | €4,409 | €6,588 | +€2,180 | +49.4% |
| Current investments | 50/53 | €16,000 | - | -€16,000 | |
| Cash at bank and in hand | 54/58 | €2,860 | €76,739 | +€73,880 | +2,584% |
| Deferred charges and accrued income | 490/1 | €629 | €629 | = | 0.0% |
| Total equity and liabilities | 10/49 | €313,369 | €534,112 | +€220,743 | +70.4% |
| Equity | 10/15 | €273,293 | €274,757 | +€1,464 | +0.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €2,750 | €2,750 | = | 0.0% |
| Distributable reserves | 133 | €2,750 | €2,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €240,543 | €242,007 | +€1,464 | +0.6% |
| Provisions and deferred taxes | 16 | €3,500 | €3,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €3,500 | €3,500 | = | 0.0% |
| Major repairs and maintenance | 162 | €3,500 | - | -€3,500 | |
| Other liabilities and charges | 164/5 | - | €3,500 | +€3,500 | |
| Amounts payable | 17/49 | €36,576 | €255,854 | +€219,279 | +600% |
| Amounts payable after more than one year | 17 | - | €213,750 | +€213,750 | |
| Other amounts payable | 178/9 | - | €213,750 | +€213,750 | |
| Amounts payable within one year | 42/48 | €36,403 | €41,258 | +€4,855 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €6,250 | €11,250 | +€5,000 | +80.0% |
| Trade debts | 44 | €145 | - | -€145 | |
| Suppliers | 440/4 | €145 | - | -€145 | |
| Other amounts payable | 47/48 | €30,008 | €30,008 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €173 | €847 | +€674 | +390% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,927 | €8,543 | -€1,385 | -14.0% |
| Other operating charges | 640/8 | €3,917 | €3,162 | -€755 | -19.3% |
| Gross operating margin | 9900 | €14,924 | €13,849 | -€1,075 | -7.2% |
| Operating profit (loss) | 9901 | €1,080 | €2,145 | +€1,065 | +98.6% |
| Financial income | 75/76B | €1,557 | €150 | -€1,408 | -90.4% |
| Recurring financial income | 75 | €1,557 | €150 | -€1,408 | -90.4% |
| Financial charges | 65/66B | €288 | €830 | +€542 | +188% |
| Recurring financial charges | 65 | €288 | €830 | +€542 | +188% |
| Profit (loss) for the period before taxes | 9903 | €2,349 | €1,464 | -€885 | -37.7% |
| Profit (loss) for the period | 9904 | €2,349 | €1,464 | -€885 | -37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,349 | €1,464 | -€885 | -37.7% |
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 15 October 2026 via checked.be.