Piekaven: 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.
Piekaven
Largest movements
- Receivables within one year -€66,280
down €66,280 (-100%), from €66,280 to €0
- Tangible fixed assets -€47,634
down €47,634 (-7.9%), from €606,622 to €558,988
of which Land and buildings: -€26,470
- Cash -€45,157
down €45,157 (-48.5%), from €93,118 to €47,962
mainly Debts after one year (-€90,939) and Net result for the year (-€33,067)
- Debts after one year -€90,939
down €90,939 (-90.4%), from €100,612 to €9,673
of which Other amounts payable: -€72,900
- Reserves -€33,067
down €33,067 (-17.5%), from €189,460 to €156,393
- Gross operating margin +€6,236
up €6,236 (+38.4%), from €16,244 to €22,480
- Financial charges -€3,042
down €3,042 (-76.9%), from €3,958 to €916
- Other operating charges +€503
up €503 (+8.0%), from €6,284 to €6,787
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 | €2,266,496 | €2,107,790 | -€158,706 | -7.0% |
| Fixed assets | 21/28 | €2,106,622 | €2,058,988 | -€47,634 | -2.3% |
| Tangible fixed assets | 22/27 | €606,622 | €558,988 | -€47,634 | -7.9% |
| Land and buildings | 22 | €559,837 | €533,367 | -€26,470 | -4.7% |
| Furniture and vehicles | 24 | €46,785 | €25,621 | -€21,164 | -45.2% |
| Financial fixed assets | 28 | €1,500,000 | €1,500,000 | = | 0.0% |
| Current assets | 29/58 | €159,874 | €48,802 | -€111,072 | -69.5% |
| Amounts receivable within one year | 40/41 | €66,280 | €0 | -€66,280 | -100% |
| Other amounts receivable | 41 | €66,280 | €0 | -€66,280 | -100% |
| Cash at bank and in hand | 54/58 | €93,118 | €47,962 | -€45,157 | -48.5% |
| Deferred charges and accrued income | 490/1 | €475 | €840 | +€365 | +76.8% |
| Total equity and liabilities | 10/49 | €2,266,496 | €2,107,790 | -€158,706 | -7.0% |
| Equity | 10/15 | €2,102,460 | €2,069,393 | -€33,067 | -1.6% |
| Contributions | 10/11 | €1,913,000 | €1,913,000 | = | 0.0% |
| Reserves | 13 | €189,460 | €156,393 | -€33,067 | -17.5% |
| Distributable reserves | 133 | €189,460 | €156,393 | -€33,067 | -17.5% |
| Amounts payable | 17/49 | €164,036 | €38,396 | -€125,639 | -76.6% |
| Amounts payable after more than one year | 17 | €100,612 | €9,673 | -€90,939 | -90.4% |
| Financial debts | 170/4 | €27,712 | €9,673 | -€18,039 | -65.1% |
| Other amounts payable | 178/9 | €72,900 | €0 | -€72,900 | -100% |
| Amounts payable within one year | 42/48 | €46,094 | €28,158 | -€17,936 | -38.9% |
| Current portion of amounts payable after more than one year | 42 | €23,055 | €18,039 | -€5,015 | -21.8% |
| Trade debts | 44 | €2,991 | €165 | -€2,826 | -94.5% |
| Suppliers | 440/4 | €2,991 | €165 | -€2,826 | -94.5% |
| Taxes, remuneration and social security | 45 | €6,127 | €209 | -€5,918 | -96.6% |
| Taxes | 450/3 | €6,127 | €209 | -€5,918 | -96.6% |
| Other amounts payable | 47/48 | €13,921 | €9,745 | -€4,177 | -30.0% |
| Accrued charges and deferred income | 492/3 | €17,329 | €565 | -€16,764 | -96.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,523 | €47,634 | +€111 | +0.2% |
| Other operating charges | 640/8 | €6,284 | €6,787 | +€503 | +8.0% |
| Gross operating margin | 9900 | €16,244 | €22,480 | +€6,236 | +38.4% |
| Operating profit (loss) | 9901 | -€37,563 | -€31,941 | +€5,622 | +15.0% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €3,958 | €916 | -€3,042 | -76.9% |
| Recurring financial charges | 65 | €3,958 | €916 | -€3,042 | -76.9% |
| Profit (loss) for the period before taxes | 9903 | -€41,521 | -€32,857 | +€8,663 | +20.9% |
| Income taxes | 67/77 | €230 | €209 | -€20 | -8.9% |
| Profit (loss) for the period | 9904 | -€41,750 | -€33,067 | +€8,684 | +20.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,750 | -€33,067 | +€8,684 | +20.8% |
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 28 October 2026 via checked.be.