PIANELLO: what changed
PIANELLO
Largest movements
- Deferred charges and accrued income +€18,142
up €18,142 (+83.0%), from €21,858 to €40,000
- Cash -€4,974
down €4,974 (-48.5%), from €10,264 to €5,290
mainly Deferred charges and accrued income (-€18,142) and Tax, wage and social debts (-€9,577)
- Receivables within one year -€2,816
down €2,816 (-30.0%), from €9,383 to €6,567
of which Trade receivables: -€3,314
- Other debts +€21,162
up €21,162 (+66.3%), from €31,933 to €53,095
- Tax, wage and social debts -€9,577
no longer reported in 2025 (was €9,577)
of which Remuneration and social security: -€8,004
- Trade debts -€1,884
down €1,884 (-77.6%), from €2,428 to €544
- Reserves +€605
up €605 (+156%), from €388 to €992
- Staff costs -€77,503
down €77,503 (-87.6%), from €88,490 to €10,987
- Gross operating margin -€77,233
down €77,233 (-83.7%), from €92,271 to €15,038
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €46,974 | €57,032 | +€10,058 | +21.4% |
| Fixed assets | 21/28 | €5,469 | €5,175 | -€293 | -5.4% |
| Tangible fixed assets | 22/27 | €5,469 | €5,175 | -€293 | -5.4% |
| Furniture and vehicles | 24 | €5,469 | €5,175 | -€293 | -5.4% |
| Current assets | 29/58 | €41,505 | €51,856 | +€10,351 | +24.9% |
| Amounts receivable within one year | 40/41 | €9,383 | €6,567 | -€2,816 | -30.0% |
| Trade receivables | 40 | €9,313 | €5,999 | -€3,314 | -35.6% |
| Other amounts receivable | 41 | €70 | €567 | +€497 | +708% |
| Cash at bank and in hand | 54/58 | €10,264 | €5,290 | -€4,974 | -48.5% |
| Deferred charges and accrued income | 490/1 | €21,858 | €40,000 | +€18,142 | +83.0% |
| Total equity and liabilities | 10/49 | €46,974 | €57,032 | +€10,058 | +21.4% |
| Equity | 10/15 | €2,788 | €3,392 | +€605 | +21.7% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €388 | €992 | +€605 | +156% |
| Distributable reserves | 133 | €388 | €992 | +€605 | +156% |
| Amounts payable | 17/49 | €44,186 | €53,639 | +€9,453 | +21.4% |
| Amounts payable within one year | 42/48 | €44,186 | €53,639 | +€9,453 | +21.4% |
| Financial debts | 43 | €247 | - | -€247 | |
| Credit institutions | 430/8 | €247 | - | -€247 | |
| Trade debts | 44 | €2,428 | €544 | -€1,884 | -77.6% |
| Suppliers | 440/4 | €2,428 | €544 | -€1,884 | -77.6% |
| Taxes, remuneration and social security | 45 | €9,577 | - | -€9,577 | |
| Taxes | 450/3 | €1,573 | - | -€1,573 | |
| Remuneration and social security | 454/9 | €8,004 | - | -€8,004 | |
| Other amounts payable | 47/48 | €31,933 | €53,095 | +€21,162 | +66.3% |
| Remuneration, social security and pensions | 62 | €88,490 | €10,987 | -€77,503 | -87.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,931 | €2,967 | +€36 | +1.2% |
| Other operating charges | 640/8 | €393 | €387 | -€6 | -1.4% |
| Gross operating margin | 9900 | €92,271 | €15,038 | -€77,233 | -83.7% |
| Operating profit (loss) | 9901 | €457 | €697 | +€239 | +52.4% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €74 | €82 | +€8 | +10.1% |
| Recurring financial charges | 65 | €74 | €82 | +€8 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €390 | €615 | +€225 | +57.8% |
| Income taxes | 67/77 | €2 | €10 | +€8 | +429% |
| Profit (loss) for the period | 9904 | €388 | €605 | +€217 | +56.0% |
| Profit (loss) for the period to be appropriated | 9905 | €388 | €605 | +€217 | +56.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.