PIENA: 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.
PIENA
Largest movements
- Receivables within one year -€11,121
down €11,121 (-99.6%), from €11,165 to €44
of which Trade receivables: -€11,165
- Tangible fixed assets -€8,589
down €8,589 (-6.3%), from €135,816 to €127,228
of which Land and buildings: -€6,419
- Cash -€3,205
down €3,205 (-87.1%), from €3,680 to €475
mainly Net result for the year (-€20,751) and Debts after one year (-€8,536)
- Deferred charges and accrued income +€1,592
up €1,592 (+418%), from €381 to €1,972
- Profit (loss) carried forward -€20,751
down €20,751 (-84.5%), from -€24,561 to -€45,312
- Debts after one year -€8,536
down €8,536 (-7.0%), from €121,717 to €113,182
- Trade debts +€5,473
up €5,473 (+66.2%), from €8,272 to €13,745
- Other debts +€4,452
up €4,452 (+18.3%), from €24,265 to €28,717
- Tax, wage and social debts -€2,077
down €2,077 (-70.9%), from €2,929 to €852
- Gross operating margin -€17,008
down €17,008, from €10,296 to -€6,712
- Other operating charges -€188
down €188 (-5.8%), from €3,237 to €3,049
- Depreciation -€176
down €176 (-2.0%), from €8,764 to €8,589
- Financial charges -€171
down €171 (-7.0%), from €2,450 to €2,279
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 | €151,042 | €129,719 | -€21,323 | -14.1% |
| Fixed assets | 21/28 | €135,816 | €127,228 | -€8,589 | -6.3% |
| Tangible fixed assets | 22/27 | €135,816 | €127,228 | -€8,589 | -6.3% |
| Land and buildings | 22 | €129,446 | €123,027 | -€6,419 | -5.0% |
| Furniture and vehicles | 24 | €6,370 | €4,201 | -€2,169 | -34.1% |
| Current assets | 29/58 | €15,225 | €2,491 | -€12,734 | -83.6% |
| Amounts receivable within one year | 40/41 | €11,165 | €44 | -€11,121 | -99.6% |
| Trade receivables | 40 | €11,165 | €0 | -€11,165 | -100% |
| Other amounts receivable | 41 | - | €44 | +€44 | |
| Cash at bank and in hand | 54/58 | €3,680 | €475 | -€3,205 | -87.1% |
| Deferred charges and accrued income | 490/1 | €381 | €1,972 | +€1,592 | +418% |
| Total equity and liabilities | 10/49 | €151,042 | €129,719 | -€21,323 | -14.1% |
| Equity | 10/15 | -€14,561 | -€35,312 | -€20,751 | -143% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,561 | -€45,312 | -€20,751 | -84.5% |
| Amounts payable | 17/49 | €165,603 | €165,032 | -€572 | -0.3% |
| Amounts payable after more than one year | 17 | €121,717 | €113,182 | -€8,536 | -7.0% |
| Financial debts | 170/4 | €121,717 | €113,182 | -€8,536 | -7.0% |
| Amounts payable within one year | 42/48 | €43,886 | €51,850 | +€7,964 | +18.1% |
| Current portion of amounts payable after more than one year | 42 | €8,419 | €8,536 | +€117 | +1.4% |
| Trade debts | 44 | €8,272 | €13,745 | +€5,473 | +66.2% |
| Suppliers | 440/4 | €8,272 | €13,745 | +€5,473 | +66.2% |
| Taxes, remuneration and social security | 45 | €2,929 | €852 | -€2,077 | -70.9% |
| Taxes | 450/3 | €2,929 | €852 | -€2,077 | -70.9% |
| Other amounts payable | 47/48 | €24,265 | €28,717 | +€4,452 | +18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,764 | €8,589 | -€176 | -2.0% |
| Other operating charges | 640/8 | €3,237 | €3,049 | -€188 | -5.8% |
| Gross operating margin | 9900 | €10,296 | -€6,712 | -€17,008 | |
| Operating profit (loss) | 9901 | -€1,705 | -€18,349 | -€16,644 | -976% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €2,450 | €2,279 | -€171 | -7.0% |
| Recurring financial charges | 65 | €2,450 | €2,279 | -€171 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,155 | -€20,627 | -€16,472 | -396% |
| Income taxes | 67/77 | €110 | €123 | +€14 | +12.4% |
| Profit (loss) for the period | 9904 | -€4,265 | -€20,751 | -€16,486 | -387% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,265 | -€20,751 | -€16,486 | -387% |
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 17 October 2026 via checked.be.