PIEPEL: 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.
PIEPEL
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€22,000
new in 2025: €22,000
- Reserves -€18,400
down €18,400 (-6.4%), from €287,300 to €268,900
of which Distributable reserves: -€18,400
- Financial income -€3,537
down €3,537 (-44.0%), from €8,039 to €4,502
- Gross operating margin +€1,320
up €1,320, from -€764 to €556
- Taxes -€61
down €61 (-11.2%), from €549 to €488
- Other operating charges +€27
up €27 (+3.3%), from €820 to €847
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 | €298,017 | €301,695 | +€3,679 | +1.2% |
| Current assets | 29/58 | €298,017 | €301,695 | +€3,679 | +1.2% |
| Amounts receivable within one year | 40/41 | €9,734 | €11,592 | +€1,858 | +19.1% |
| Trade receivables | 40 | €787 | - | -€787 | |
| Other amounts receivable | 41 | €8,948 | €11,592 | +€2,644 | +29.6% |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €38,283 | €40,104 | +€1,821 | +4.8% |
| Total equity and liabilities | 10/49 | €298,017 | €301,695 | +€3,679 | +1.2% |
| Equity | 10/15 | €297,351 | €279,030 | -€18,321 | -6.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €287,300 | €268,900 | -€18,400 | -6.4% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,000 | €1,000 | = | 0.0% |
| Distributable reserves | 133 | €286,300 | €267,900 | -€18,400 | -6.4% |
| Profit (loss) carried forward | 14 | €51 | €130 | +€79 | +154% |
| Amounts payable | 17/49 | €666 | €22,666 | +€22,000 | +3,306% |
| Amounts payable within one year | 42/48 | €666 | €22,666 | +€22,000 | +3,306% |
| Trade debts | 44 | €666 | €666 | = | 0.0% |
| Suppliers | 440/4 | €666 | €666 | = | 0.0% |
| Other amounts payable | 47/48 | - | €22,000 | +€22,000 | |
| Other operating charges | 640/8 | €820 | €847 | +€27 | +3.3% |
| Gross operating margin | 9900 | -€764 | €556 | +€1,320 | |
| Operating profit (loss) | 9901 | -€1,584 | -€291 | +€1,293 | +81.6% |
| Financial income | 75/76B | €8,039 | €4,502 | -€3,537 | -44.0% |
| Recurring financial income | 75 | €8,039 | €4,502 | -€3,537 | -44.0% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €6,410 | €4,167 | -€2,243 | -35.0% |
| Income taxes | 67/77 | €549 | €488 | -€61 | -11.2% |
| Profit (loss) for the period | 9904 | €5,861 | €3,679 | -€2,182 | -37.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,861 | €3,679 | -€2,182 | -37.2% |
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 14 October 2026 via checked.be.