PIENJA: 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.
PIENJA
Largest movements
- Cash +€21,124
up €21,124 (+28.5%), from €74,216 to €95,341
mainly Net result for the year (+€23,408) and Receivables within one year (+€7,473)
- Receivables within one year -€7,473
down €7,473 (-28.8%), from €25,975 to €18,502
of which Trade receivables: -€5,155
- Tangible fixed assets -€1,631
down €1,631 (-26.8%), from €6,080 to €4,449
of which Furniture and vehicles: -€910
- Reserves +€23,408
up €23,408 (+29.9%), from €78,377 to €101,785
- Trade debts -€6,764
down €6,764 (-86.7%), from €7,801 to €1,037
- Other debts -€3,336
down €3,336 (-60.8%), from €5,490 to €2,155
- Tax, wage and social debts -€1,932
down €1,932 (-14.4%), from €13,433 to €11,501
- Gross operating margin -€1,640
down €1,640 (-4.3%), from €38,570 to €36,931
From the 2025 result to the 2026 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.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €107,602 | €118,978 | +€11,376 | +10.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €6,080 | €4,449 | -€1,631 | -26.8% |
| Tangible fixed assets | 22/27 | €6,080 | €4,449 | -€1,631 | -26.8% |
| Plant, machinery and equipment | 23 | €4,187 | €3,466 | -€721 | -17.2% |
| Furniture and vehicles | 24 | €1,893 | €983 | -€910 | -48.1% |
| Current assets | 29/58 | €101,522 | €114,528 | +€13,007 | +12.8% |
| Amounts receivable within one year | 40/41 | €25,975 | €18,502 | -€7,473 | -28.8% |
| Trade receivables | 40 | €23,515 | €18,360 | -€5,155 | -21.9% |
| Other amounts receivable | 41 | €2,460 | €142 | -€2,318 | -94.2% |
| Cash at bank and in hand | 54/58 | €74,216 | €95,341 | +€21,124 | +28.5% |
| Deferred charges and accrued income | 490/1 | €1,330 | €686 | -€645 | -48.5% |
| Total equity and liabilities | 10/49 | €107,602 | €118,978 | +€11,376 | +10.6% |
| Equity | 10/15 | €80,877 | €104,285 | +€23,408 | +28.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €78,377 | €101,785 | +€23,408 | +29.9% |
| Distributable reserves | 133 | €78,377 | €101,785 | +€23,408 | +29.9% |
| Amounts payable | 17/49 | €26,724 | €14,692 | -€12,032 | -45.0% |
| Amounts payable within one year | 42/48 | €26,724 | €14,692 | -€12,032 | -45.0% |
| Trade debts | 44 | €7,801 | €1,037 | -€6,764 | -86.7% |
| Suppliers | 440/4 | €7,801 | €1,037 | -€6,764 | -86.7% |
| Taxes, remuneration and social security | 45 | €13,433 | €11,501 | -€1,932 | -14.4% |
| Taxes | 450/3 | €13,433 | €11,501 | -€1,932 | -14.4% |
| Other amounts payable | 47/48 | €5,490 | €2,155 | -€3,336 | -60.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,464 | €1,631 | +€167 | +11.4% |
| Other operating charges | 640/8 | €528 | €560 | +€32 | +6.0% |
| Gross operating margin | 9900 | €38,570 | €36,931 | -€1,640 | -4.3% |
| Operating profit (loss) | 9901 | €36,579 | €34,740 | -€1,838 | -5.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,169 | €1,859 | -€310 | -14.3% |
| Recurring financial charges | 65 | €2,169 | €1,859 | -€310 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €34,410 | €32,882 | -€1,528 | -4.4% |
| Income taxes | 67/77 | €9,830 | €9,474 | -€356 | -3.6% |
| Profit (loss) for the period | 9904 | €24,580 | €23,408 | -€1,172 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,580 | €23,408 | -€1,172 | -4.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.