PIBU: what changed
Two fiscal 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.
PIBU
Largest movements
- Stocks and contracts +€1.5m
up €1.5m (+166.4%), from €901,900 to €2.4m
- Cash -€277,411
down €277,411 (-74.8%), from €370,956 to €93,545
mainly Stocks and contracts (-€1.5m) and Other debts (-€411,298)
- Receivables within one year +€47,849
up €47,849 (+59.7%), from €80,177 to €128,027
of which Other amounts receivable: +€61,430
- Advances received +€1.7m
up €1.7m (+195.8%), from €848,109 to €2.5m
- Other debts -€411,298
down €411,298 (-80.4%), from €511,298 to €100,000
- Profit (loss) carried forward +€27,493
up €27,493 (+29.1%), from -€94,525 to -€67,032
- Financial charges -€51,478
down €51,478 (-87.9%), from €58,571 to €7,092
- Gross operating margin +€33,131
up €33,131, from -€6,699 to €26,432
- Financial income +€7,481
up €7,481 (+623.4%), from €1,200 to €8,681
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 | €1,355,539 | €2,624,745 | +€1.3m | +93.6% |
| Fixed assets | 21/28 | €400 | €400 | = | 0.0% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €1,355,139 | €2,624,345 | +€1.3m | +93.7% |
| Stocks and contracts in progress | 3 | €901,900 | €2,402,285 | +€1.5m | +166.4% |
| Stocks | 30/36 | €901,900 | €2,402,285 | +€1.5m | +166.4% |
| Amounts receivable within one year | 40/41 | €80,177 | €128,027 | +€47,849 | +59.7% |
| Trade receivables | 40 | €16,950 | €3,369 | -€13,581 | -80.1% |
| Other amounts receivable | 41 | €63,227 | €124,657 | +€61,430 | +97.2% |
| Cash at bank and in hand | 54/58 | €370,956 | €93,545 | -€277,411 | -74.8% |
| Deferred charges and accrued income | 490/1 | €2,106 | €488 | -€1,618 | -76.8% |
| Total equity and liabilities | 10/49 | €1,355,539 | €2,624,745 | +€1.3m | +93.6% |
| Equity | 10/15 | -€74,525 | -€47,032 | +€27,493 | +36.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,525 | -€67,032 | +€27,493 | +29.1% |
| Amounts payable | 17/49 | €1,430,064 | €2,671,777 | +€1.2m | +86.8% |
| Amounts payable within one year | 42/48 | €1,430,064 | €2,671,777 | +€1.2m | +86.8% |
| Trade debts | 44 | €1,676 | €13,116 | +€11,440 | +682.8% |
| Suppliers | 440/4 | €1,676 | €13,116 | +€11,440 | +682.8% |
| Advances received on contracts in progress | 46 | €848,109 | €2,508,848 | +€1.7m | +195.8% |
| Taxes, remuneration and social security | 45 | €68,982 | €49,813 | -€19,169 | -27.8% |
| Taxes | 450/3 | €68,982 | €49,813 | -€19,169 | -27.8% |
| Other amounts payable | 47/48 | €511,298 | €100,000 | -€411,298 | -80.4% |
| Other operating charges | 640/8 | €665 | €528 | -€138 | -20.7% |
| Gross operating margin | 9900 | -€6,699 | €26,432 | +€33,131 | |
| Operating profit (loss) | 9901 | -€7,364 | €25,904 | +€33,268 | |
| Financial income | 75/76B | €1,200 | €8,681 | +€7,481 | +623.4% |
| Recurring financial income | 75 | €1,200 | €8,681 | +€7,481 | +623.4% |
| Financial charges | 65/66B | €58,571 | €7,092 | -€51,478 | -87.9% |
| Recurring financial charges | 65 | €58,571 | €7,092 | -€51,478 | -87.9% |
| Profit (loss) for the period before taxes | 9903 | -€64,735 | €27,493 | +€92,227 | |
| Profit (loss) for the period | 9904 | -€64,735 | €27,493 | +€92,227 | |
| Profit (loss) for the period to be appropriated | 9905 | -€64,735 | €27,493 | +€92,227 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.