PIED PIPER: 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.
PIED PIPER
Largest movements
- Cash +€72,750
up €72,750 (+70.9%), from €102,615 to €175,365
mainly Net result for the year (+€164,911) and Other debts (+€56,131)
- Receivables within one year -€2,588
down €2,588 (-12.1%), from €21,375 to €18,787
- Other debts +€56,131
up €56,131 (+51.6%), from €108,779 to €164,911
- Tax, wage and social debts +€13,654
up €13,654 (+106%), from €12,864 to €26,518
of which Taxes: +€13,544
- Gross operating margin +€75,917
up €75,917 (+51.8%), from €146,468 to €222,386
- Taxes +€19,295
up €19,295 (+64.3%), from €30,015 to €49,310
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 | €124,643 | €194,428 | +€69,785 | +56.0% |
| Fixed assets | 21/28 | €653 | €277 | -€377 | -57.7% |
| Tangible fixed assets | 22/27 | €653 | €277 | -€377 | -57.7% |
| Furniture and vehicles | 24 | €653 | €277 | -€377 | -57.7% |
| Current assets | 29/58 | €123,990 | €194,152 | +€70,162 | +56.6% |
| Amounts receivable within one year | 40/41 | €21,375 | €18,787 | -€2,588 | -12.1% |
| Trade receivables | 40 | €21,375 | €18,787 | -€2,588 | -12.1% |
| Cash at bank and in hand | 54/58 | €102,615 | €175,365 | +€72,750 | +70.9% |
| Total equity and liabilities | 10/49 | €124,643 | €194,428 | +€69,785 | +56.0% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €121,643 | €191,428 | +€69,785 | +57.4% |
| Amounts payable within one year | 42/48 | €121,643 | €191,428 | +€69,785 | +57.4% |
| Taxes, remuneration and social security | 45 | €12,864 | €26,518 | +€13,654 | +106% |
| Taxes | 450/3 | €12,849 | €26,393 | +€13,544 | +105% |
| Remuneration and social security | 454/9 | €15 | €125 | +€110 | +733% |
| Other amounts payable | 47/48 | €108,779 | €164,911 | +€56,131 | +51.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €377 | €377 | = | 0.0% |
| Other operating charges | 640/8 | €6,803 | €6,569 | -€234 | -3.4% |
| Gross operating margin | 9900 | €146,468 | €222,386 | +€75,917 | +51.8% |
| Operating profit (loss) | 9901 | €139,288 | €215,440 | +€76,151 | +54.7% |
| Financial income | 75/76B | €582 | €0 | -€582 | -100% |
| Recurring financial income | 75 | €582 | €0 | -€582 | -100% |
| Financial charges | 65/66B | €1,163 | €1,219 | +€56 | +4.8% |
| Recurring financial charges | 65 | €1,163 | €1,219 | +€56 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €138,708 | €214,221 | +€75,513 | +54.4% |
| Income taxes | 67/77 | €30,015 | €49,310 | +€19,295 | +64.3% |
| Profit (loss) for the period | 9904 | €108,693 | €164,911 | +€56,218 | +51.7% |
| Profit (loss) for the period to be appropriated | 9905 | €108,693 | €164,911 | +€56,218 | +51.7% |
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 24 October 2026 via checked.be.