PIENS: what changed
What changed
PIENS
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€783,497
2024 · -€34,396+€817,894
Equity
€8.2m
2024 · €7.5m+€783,497
Cash
€8,074
2024 · €3,584+€4,490
Balance sheet total
€9.0m
2024 · €10.1m-€1.1m
Largest movements
Assets
- Tangible fixed assets -€1.1m
down €1.1m (-43.4%), from €2.5m to €1.4m
of which Land and buildings: -€1.1m
Equity and liabilities
- Other debts -€1.2m
down €1.2m (-62.2%), from €2.0m to €738,050
- Profit (loss) carried forward +€783,497
up €783,497 (+38.8%), from -€2.0m to -€1.2m
- Short-term financial debts -€600,000
down €600,000 (-100%), from €600,000 to €0
Income statement
- Gross operating margin +€880,260
up €880,260 (+16,956%), from €5,191 to €885,452
- Financial charges -€23,982
down €23,982 (-71.0%), from €33,774 to €9,792
of which Financial charges: -€23,982
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€34,396
Gross operating margin
+€880,260
Depreciation
-€2,839
Other operating charges
+€1,594
Other operating items
-€80,000
Financial income
+€3
Financial charges
+€23,982
Taxes
-€5,107
Result 2025
€783,497
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€434,632
Investment
+€1.1m
Financing
-€650,000
Cash 2024
€3,584
From operations (derived)
-€434,632
Net result for the year
+€783,497
Depreciation
+€3,295
Receivables within one year
-€6,015
Smaller working-capital items
-€2,003
Trade debts
-€5,723
Tax, wage and social debts
+€5,107
Other debts
-€1.2m
Investment (derived)
+€1.1m
Investment in fixed assets (net)
+€1.1m
Financing
-€650,000
Debts after one year
-€30,000
Current portion of long-term debt
-€20,000
Short-term financial debts
-€600,000
Cash 2025
€8,074
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,062,147 | €8,981,039 | -€1.1m | -10.7% |
| Fixed assets | 21/28 | €9,509,236 | €8,416,820 | -€1.1m | -11.5% |
| Tangible fixed assets | 22/27 | €2,518,218 | €1,425,802 | -€1.1m | -43.4% |
| Land and buildings | 22 | €2,225,653 | €1,121,413 | -€1.1m | -49.6% |
| Plant, machinery and equipment | 23 | €3,933 | €15,757 | +€11,824 | +301% |
| Other tangible fixed assets | 26 | €288,632 | €288,632 | = | 0.0% |
| Financial fixed assets | 28 | €6,991,018 | €6,991,018 | = | 0.0% |
| Current assets | 29/58 | €552,910 | €564,219 | +€11,308 | +2.0% |
| Amounts receivable within one year | 40/41 | €544,229 | €550,244 | +€6,015 | +1.1% |
| Trade receivables | 40 | - | €1,815 | +€1,815 | |
| Other amounts receivable | 41 | €544,229 | €548,429 | +€4,200 | +0.8% |
| Cash at bank and in hand | 54/58 | €3,584 | €8,074 | +€4,490 | +125% |
| Deferred charges and accrued income | 490/1 | €5,097 | €5,900 | +€803 | +15.8% |
| Total equity and liabilities | 10/49 | €10,062,147 | €8,981,039 | -€1.1m | -10.7% |
| Equity | 10/15 | €7,454,286 | €8,237,784 | +€783,497 | +10.5% |
| Contributions | 10/11 | €9,439,500 | €9,439,500 | = | 0.0% |
| Capital | 10 | €9,439,500 | €9,439,500 | = | 0.0% |
| Issued capital | 100 | €9,439,500 | €9,439,500 | = | 0.0% |
| Reserves | 13 | €35,084 | €35,084 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €31,986 | €31,986 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,020,298 | -€1,236,801 | +€783,497 | +38.8% |
| Amounts payable | 17/49 | €2,607,860 | €743,255 | -€1.9m | -71.5% |
| Amounts payable after more than one year | 17 | €30,000 | €0 | -€30,000 | -100% |
| Financial debts | 170/4 | €30,000 | €0 | -€30,000 | -100% |
| Amounts payable within one year | 42/48 | €2,576,661 | €743,255 | -€1.8m | -71.2% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €0 | -€20,000 | -100% |
| Financial debts | 43 | €600,000 | €0 | -€600,000 | -100% |
| Credit institutions | 430/8 | €600,000 | €0 | -€600,000 | -100% |
| Trade debts | 44 | €5,821 | €98 | -€5,723 | -98.3% |
| Suppliers | 440/4 | €5,821 | €98 | -€5,723 | -98.3% |
| Taxes, remuneration and social security | 45 | - | €5,107 | +€5,107 | |
| Taxes | 450/3 | - | €5,107 | +€5,107 | |
| Other amounts payable | 47/48 | €1,950,840 | €738,050 | -€1.2m | -62.2% |
| Accrued charges and deferred income | 492/3 | €1,200 | €0 | -€1,200 | -100% |
| Non-recurring operating income | 76A | €0 | €1,057,135 | +€1.1m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €457 | €3,295 | +€2,839 | +621% |
| Other operating charges | 640/8 | €5,356 | €3,763 | -€1,594 | -29.8% |
| Non-recurring operating charges | 66A | - | €80,000 | +€80,000 | |
| Gross operating margin | 9900 | €5,191 | €885,452 | +€880,260 | +16,956% |
| Operating profit (loss) | 9901 | -€622 | €798,393 | +€799,015 | |
| Financial income | 75/76B | €0 | €3 | +€3 | |
| Recurring financial income | 75 | €0 | €3 | +€3 | |
| Financial charges | 65/66B | €33,774 | €9,792 | -€23,982 | -71.0% |
| Recurring financial charges | 65 | €33,774 | €9,792 | -€23,982 | -71.0% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€34,396 | €788,604 | +€823,000 | |
| Income taxes | 67/77 | - | €5,107 | +€5,107 | |
| Profit (loss) for the period | 9904 | -€34,396 | €783,497 | +€817,894 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,396 | €783,497 | +€817,894 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.