PIEDEVO: 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.
PIEDEVO
Largest movements
- Receivables within one year +€19,294
up €19,294 (+89.4%), from €21,579 to €40,874
of which Trade receivables: +€13,197
- Cash -€13,808
down €13,808 (-41.6%), from €33,198 to €19,390
mainly Debts after one year (-€251,143) and Receivables within one year (-€19,294)
- Debts after one year -€251,143
down €251,143 (-49.7%), from €504,953 to €253,810
- Reserves +€228,768
up €228,768 (+44.2%), from €517,728 to €746,496
- Tax, wage and social debts +€19,149
up €19,149 (+163%), from €11,765 to €30,914
- Financial income +€129,936
up €129,936, from €0 to €129,936
- Gross operating margin +€30,514
up €30,514 (+22.0%), from €138,641 to €169,155
- Taxes +€22,080
up €22,080 (+63.6%), from €34,699 to €56,780
- Staff costs -€3,802
down €3,802 (-100%), from €3,802 to €0
- Financial charges +€2,038
up €2,038 (+19.7%), from €10,362 to €12,400
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 | €1,154,319 | €1,159,806 | +€5,487 | +0.5% |
| Fixed assets | 21/28 | €1,099,542 | €1,099,542 | = | 0.0% |
| Financial fixed assets | 28 | €1,099,542 | €1,099,542 | = | 0.0% |
| Current assets | 29/58 | €54,777 | €60,264 | +€5,487 | +10.0% |
| Amounts receivable within one year | 40/41 | €21,579 | €40,874 | +€19,294 | +89.4% |
| Trade receivables | 40 | €21,579 | €34,777 | +€13,197 | +61.2% |
| Other amounts receivable | 41 | - | €6,097 | +€6,097 | |
| Cash at bank and in hand | 54/58 | €33,198 | €19,390 | -€13,808 | -41.6% |
| Total equity and liabilities | 10/49 | €1,154,319 | €1,159,806 | +€5,487 | +0.5% |
| Equity | 10/15 | €561,268 | €790,036 | +€228,768 | +40.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €517,728 | €746,496 | +€228,768 | +44.2% |
| Distributable reserves | 133 | €517,728 | €746,496 | +€228,768 | +44.2% |
| Profit (loss) carried forward | 14 | €24,940 | €24,940 | = | 0.0% |
| Amounts payable | 17/49 | €593,051 | €369,770 | -€223,281 | -37.6% |
| Amounts payable after more than one year | 17 | €504,953 | €253,810 | -€251,143 | -49.7% |
| Financial debts | 170/4 | €504,953 | €253,810 | -€251,143 | -49.7% |
| Amounts payable within one year | 42/48 | €77,868 | €106,682 | +€28,813 | +37.0% |
| Current portion of amounts payable after more than one year | 42 | €57,143 | €57,143 | = | 0.0% |
| Trade debts | 44 | €803 | €786 | -€17 | -2.1% |
| Suppliers | 440/4 | €803 | €786 | -€17 | -2.1% |
| Taxes, remuneration and social security | 45 | €11,765 | €30,914 | +€19,149 | +163% |
| Taxes | 450/3 | €11,765 | €30,914 | +€19,149 | +163% |
| Other amounts payable | 47/48 | €8,157 | €17,839 | +€9,681 | +119% |
| Accrued charges and deferred income | 492/3 | €10,230 | €9,278 | -€952 | -9.3% |
| Remuneration, social security and pensions | 62 | €3,802 | €0 | -€3,802 | -100% |
| Other operating charges | 640/8 | €1,136 | €1,143 | +€7 | +0.6% |
| Gross operating margin | 9900 | €138,641 | €169,155 | +€30,514 | +22.0% |
| Operating profit (loss) | 9901 | €133,703 | €168,012 | +€34,309 | +25.7% |
| Financial income | 75/76B | €0 | €129,936 | +€129,936 | |
| Recurring financial income | 75 | €0 | €129,936 | +€129,936 | |
| Financial charges | 65/66B | €10,362 | €12,400 | +€2,038 | +19.7% |
| Recurring financial charges | 65 | €10,362 | €12,400 | +€2,038 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | €123,341 | €285,548 | +€162,207 | +132% |
| Income taxes | 67/77 | €34,699 | €56,780 | +€22,080 | +63.6% |
| Profit (loss) for the period | 9904 | €88,642 | €228,768 | +€140,126 | +158% |
| Profit (loss) for the period to be appropriated | 9905 | €88,642 | €228,768 | +€140,126 | +158% |
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 26 October 2026 via checked.be.