PIE&COL: what changed
What changed
PIE&COL
filed annual accounts (NBB)
Net result for the year
-€33,680
2024 · -€2,713-€30,967
Equity
€909,923
2024 · €943,604-€33,680
Cash
€13,723
2024 · €35,313-€21,590
Balance sheet total
€2.1m
2024 · €2.2m-€69,622
Largest movements
Assets
- Tangible fixed assets -€52,418
down €52,418 (-2.5%), from €2.1m to €2.1m
of which Land and buildings: -€36,898
Equity and liabilities
- Other debts -€30,525
down €30,525 (-3.2%), from €965,437 to €934,912
Income statement
- Purchases and services +€45,259
up €45,259 (+124%), from €36,365 to €81,625
- Gross operating margin -€32,257
down €32,257 (-54.3%), from €59,357 to €27,100
- Taxes -€6,734
down €6,734 (-96.6%), from €6,972 to €238
- Financial income -€4,692
down €4,692 (-89.2%), from €5,261 to €569
- Other operating charges +€1,565
up €1,565 (+20.0%), from €7,808 to €9,373
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.
Result 2024
-€2,713
Gross operating margin
-€32,257
Depreciation
+€766
Other operating charges
-€1,565
Financial income
-€4,692
Financial charges
+€241
Taxes
+€6,734
Deferred taxes and other
-€193
Result 2025
-€33,680
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€17,179
Investment
-€4,411
Financing
€0
Cash 2024
€35,313
From operations (derived)
-€17,179
Net result for the year
-€33,680
Depreciation
+€56,340
Receivables within one year
-€1,566
Deferred charges and accrued income
-€2,331
Provisions
-€4,663
Trade debts
+€36
Other debts
-€30,525
Accrued charges and deferred income
-€790
Investment (derived)
-€4,411
Investment in fixed assets (net)
-€3,922
Current investments
-€489
Cash 2025
€13,723
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,160,475 | €2,090,853 | -€69,622 | -3.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,109,967 | €2,057,549 | -€52,418 | -2.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €2,109,717 | €2,057,299 | -€52,418 | -2.5% |
| Land and buildings | 22 | €1,645,710 | €1,608,812 | -€36,898 | -2.2% |
| Plant, machinery and equipment | 23 | €463,770 | €448,487 | -€15,282 | -3.3% |
| Furniture and vehicles | 24 | €237 | €0 | -€237 | -100% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €50,507 | €33,304 | -€17,204 | -34.1% |
| Amounts receivable within one year | 40/41 | €1,199 | €2,765 | +€1,566 | +131% |
| Other amounts receivable | 41 | €1,199 | €2,765 | +€1,566 | +131% |
| Current investments | 50/53 | €12,826 | €13,315 | +€489 | +3.8% |
| Cash at bank and in hand | 54/58 | €35,313 | €13,723 | -€21,590 | -61.1% |
| Deferred charges and accrued income | 490/1 | €1,169 | €3,501 | +€2,331 | +199% |
| Total equity and liabilities | 10/49 | €2,160,475 | €2,090,853 | -€69,622 | -3.2% |
| Equity | 10/15 | €943,604 | €909,923 | -€33,680 | -3.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €800,751 | €786,763 | -€13,988 | -1.7% |
| Tax-exempt reserves | 132 | €795,859 | €781,871 | -€13,988 | -1.8% |
| Distributable reserves | 133 | €4,892 | €4,892 | = | 0.0% |
| Profit (loss) carried forward | 14 | €124,302 | €104,610 | -€19,692 | -15.8% |
| Provisions and deferred taxes | 16 | €246,536 | €241,874 | -€4,663 | -1.9% |
| Deferred taxes | 168 | €246,536 | €241,874 | -€4,663 | -1.9% |
| Amounts payable | 17/49 | €970,335 | €939,056 | -€31,279 | -3.2% |
| Amounts payable within one year | 42/48 | €967,408 | €936,920 | -€30,489 | -3.2% |
| Trade debts | 44 | €0 | €36 | +€36 | |
| Suppliers | 440/4 | €0 | €36 | +€36 | |
| Taxes, remuneration and social security | 45 | €1,971 | €1,971 | = | 0.0% |
| Taxes | 450/3 | €1,971 | €1,971 | = | 0.0% |
| Other amounts payable | 47/48 | €965,437 | €934,912 | -€30,525 | -3.2% |
| Accrued charges and deferred income | 492/3 | €2,926 | €2,136 | -€790 | -27.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €36,365 | €81,625 | +€45,259 | +124% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,106 | €56,340 | -€766 | -1.3% |
| Other operating charges | 640/8 | €7,808 | €9,373 | +€1,565 | +20.0% |
| Gross operating margin | 9900 | €59,357 | €27,100 | -€32,257 | -54.3% |
| Operating profit (loss) | 9901 | -€5,557 | -€38,614 | -€33,057 | -595% |
| Financial income | 75/76B | €5,261 | €569 | -€4,692 | -89.2% |
| Recurring financial income | 75 | €5,261 | €569 | -€4,692 | -89.2% |
| Financial charges | 65/66B | €301 | €60 | -€241 | -80.0% |
| Recurring financial charges | 65 | €301 | €60 | -€241 | -80.0% |
| Profit (loss) for the period before taxes | 9903 | -€597 | -€38,105 | -€37,508 | -6,285% |
| Transfer from deferred taxes | 780 | €4,855 | €4,663 | -€193 | -4.0% |
| Income taxes | 67/77 | €6,972 | €238 | -€6,734 | -96.6% |
| Profit (loss) for the period | 9904 | -€2,713 | -€33,680 | -€30,967 | -1,141% |
| Transfer from tax-exempt reserves | 789 | €14,566 | €13,988 | -€578 | -4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,854 | -€19,692 | -€31,546 |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.