PIBACO: 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.
PIBACO
Largest movements
- Cash +€152,867
up €152,867 (+107%), from €142,703 to €295,571
mainly Receivables within one year (+€139,879) and Net result for the year (+€92,305)
- Receivables within one year -€139,879
down €139,879 (-68.8%), from €203,437 to €63,558
of which Other amounts receivable: -€144,114
- Tangible fixed assets -€6,442
down €6,442 (-8.1%), from €80,014 to €73,571
of which Furniture and vehicles: -€3,656
- Reserves +€24,258
up €24,258 (+6.4%), from €377,577 to €401,835
of which Distributable reserves: +€24,258
- Trade debts -€13,507
down €13,507 (-67.6%), from €19,978 to €6,471
- Tax, wage and social debts -€11,319
down €11,319 (-51.1%), from €22,149 to €10,830
- Other debts +€7,114
new in 2025: €7,114
- Gross operating margin +€6,332
up €6,332 (+4.5%), from €141,021 to €147,353
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 | €426,154 | €432,700 | +€6,546 | +1.5% |
| Fixed assets | 21/28 | €80,014 | €73,571 | -€6,442 | -8.1% |
| Tangible fixed assets | 22/27 | €80,014 | €73,571 | -€6,442 | -8.1% |
| Plant, machinery and equipment | 23 | €9,430 | €6,645 | -€2,786 | -29.5% |
| Furniture and vehicles | 24 | €70,583 | €66,927 | -€3,656 | -5.2% |
| Current assets | 29/58 | €346,140 | €359,128 | +€12,988 | +3.8% |
| Amounts receivable within one year | 40/41 | €203,437 | €63,558 | -€139,879 | -68.8% |
| Trade receivables | 40 | €51,715 | €55,950 | +€4,235 | +8.2% |
| Other amounts receivable | 41 | €151,722 | €7,608 | -€144,114 | -95.0% |
| Cash at bank and in hand | 54/58 | €142,703 | €295,571 | +€152,867 | +107% |
| Total equity and liabilities | 10/49 | €426,154 | €432,700 | +€6,546 | +1.5% |
| Equity | 10/15 | €383,777 | €408,035 | +€24,258 | +6.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €377,577 | €401,835 | +€24,258 | +6.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €375,717 | €399,975 | +€24,258 | +6.5% |
| Amounts payable | 17/49 | €42,377 | €24,665 | -€17,712 | -41.8% |
| Amounts payable within one year | 42/48 | €42,127 | €24,415 | -€17,712 | -42.0% |
| Trade debts | 44 | €19,978 | €6,471 | -€13,507 | -67.6% |
| Suppliers | 440/4 | €19,978 | €6,471 | -€13,507 | -67.6% |
| Taxes, remuneration and social security | 45 | €22,149 | €10,830 | -€11,319 | -51.1% |
| Taxes | 450/3 | €22,149 | €10,830 | -€11,319 | -51.1% |
| Other amounts payable | 47/48 | - | €7,114 | +€7,114 | |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,538 | €21,212 | +€673 | +3.3% |
| Other operating charges | 640/8 | €384 | €1,096 | +€711 | +185% |
| Gross operating margin | 9900 | €141,021 | €147,353 | +€6,332 | +4.5% |
| Operating profit (loss) | 9901 | €120,098 | €125,046 | +€4,948 | +4.1% |
| Financial income | 75/76B | €6,217 | €5,007 | -€1,210 | -19.5% |
| Recurring financial income | 75 | €6,217 | €5,007 | -€1,210 | -19.5% |
| Financial charges | 65/66B | €113 | €325 | +€212 | +189% |
| Recurring financial charges | 65 | €113 | €325 | +€212 | +189% |
| Profit (loss) for the period before taxes | 9903 | €126,203 | €129,728 | +€3,525 | +2.8% |
| Income taxes | 67/77 | €36,639 | €37,423 | +€784 | +2.1% |
| Profit (loss) for the period | 9904 | €89,564 | €92,305 | +€2,741 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €89,564 | €92,305 | +€2,741 | +3.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.