PiAnTho: 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.
PiAnTho
Largest movements
- Tangible fixed assets -€100,605
down €100,605 (-3.2%), from €3.2m to €3.1m
- Debts after one year -€78,421
down €78,421 (-3.5%), from €2.2m to €2.1m
- Current portion of long-term debt +€58,784
up €58,784 (+46.0%), from €127,764 to €186,548
- Profit (loss) carried forward -€57,194
down €57,194 (-15.7%), from -€364,694 to -€421,888
- Depreciation +€13,767
up €13,767 (+15.9%), from €86,838 to €100,605
- Gross operating margin +€11,723
up €11,723 (+13.3%), from €88,097 to €99,820
- Financial charges +€6,580
up €6,580 (+24.8%), from €26,551 to €33,131
- Other operating charges +€1,935
up €1,935 (+9.1%), from €21,355 to €23,290
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 | €3,172,009 | €3,089,082 | -€82,927 | -2.6% |
| Fixed assets | 21/28 | €3,165,099 | €3,064,494 | -€100,605 | -3.2% |
| Tangible fixed assets | 22/27 | €3,165,099 | €3,064,494 | -€100,605 | -3.2% |
| Land and buildings | 22 | €3,165,099 | €3,064,494 | -€100,605 | -3.2% |
| Current assets | 29/58 | €6,910 | €24,588 | +€17,678 | +256% |
| Amounts receivable within one year | 40/41 | €5,000 | - | -€5,000 | |
| Other amounts receivable | 41 | €5,000 | - | -€5,000 | |
| Cash at bank and in hand | 54/58 | €1,910 | €24,588 | +€22,678 | +1,187% |
| Total equity and liabilities | 10/49 | €3,172,009 | €3,089,082 | -€82,927 | -2.6% |
| Equity | 10/15 | €751,656 | €694,462 | -€57,194 | -7.6% |
| Contributions | 10/11 | €1,116,350 | €1,116,350 | = | 0.0% |
| Capital | 10 | €1,116,350 | €1,116,350 | = | 0.0% |
| Issued capital | 100 | €1,116,350 | €1,116,350 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€364,694 | -€421,888 | -€57,194 | -15.7% |
| Provisions and deferred taxes | 16 | €30,000 | €30,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €30,000 | €30,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable | 17/49 | €2,390,353 | €2,364,620 | -€25,733 | -1.1% |
| Amounts payable after more than one year | 17 | €2,228,041 | €2,149,620 | -€78,421 | -3.5% |
| Financial debts | 170/4 | €2,228,041 | €2,149,620 | -€78,421 | -3.5% |
| Amounts payable within one year | 42/48 | €162,312 | €215,000 | +€52,688 | +32.5% |
| Current portion of amounts payable after more than one year | 42 | €127,764 | €186,548 | +€58,784 | +46.0% |
| Trade debts | 44 | €20,296 | €3,942 | -€16,354 | -80.6% |
| Suppliers | 440/4 | €20,296 | €3,942 | -€16,354 | -80.6% |
| Advances received on contracts in progress | 46 | - | €5,235 | +€5,235 | |
| Taxes, remuneration and social security | 45 | €2,153 | €6,448 | +€4,295 | +199% |
| Taxes | 450/3 | €2,153 | €6,448 | +€4,295 | +199% |
| Other amounts payable | 47/48 | €12,099 | €12,827 | +€728 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,838 | €100,605 | +€13,767 | +15.9% |
| Other operating charges | 640/8 | €21,355 | €23,290 | +€1,935 | +9.1% |
| Gross operating margin | 9900 | €88,097 | €99,820 | +€11,723 | +13.3% |
| Operating profit (loss) | 9901 | -€20,096 | -€24,075 | -€3,979 | -19.8% |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Financial charges | 65/66B | €26,551 | €33,131 | +€6,580 | +24.8% |
| Recurring financial charges | 65 | €26,551 | €33,131 | +€6,580 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | -€46,647 | -€57,194 | -€10,547 | -22.6% |
| Profit (loss) for the period | 9904 | -€46,647 | -€57,194 | -€10,547 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,647 | -€57,194 | -€10,547 | -22.6% |
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 16 October 2026 via checked.be.