PIERJOSIMMO: what changed
Two fiscal 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.
PIERJOSIMMO
Largest movements
- Tangible fixed assets -€33,547
down €33,547 (-2.7%), from €1.2m to €1.2m
of which Land and buildings: -€41,462
- Cash -€13,686
down €13,686 (-47.0%), from €29,129 to €15,442
mainly Other debts (-€23,423) and Investment in fixed assets (net) (-€23,373)
- Other debts -€23,423
down €23,423 (-3.3%), from €706,540 to €683,117
- Profit (loss) carried forward -€15,926
down €15,926 (-13.3%), from -€119,295 to -€135,221
- Gross operating margin -€15,311
down €15,311 (-19.2%), from €79,620 to €64,309
- Other operating charges +€3,991
up €3,991 (+22.2%), from €17,966 to €21,957
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.
Cash bridge derived
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 | €1,270,022 | €1,222,792 | -€47,230 | -3.7% |
| Fixed assets | 21/28 | €1,237,866 | €1,204,319 | -€33,547 | -2.7% |
| Tangible fixed assets | 22/27 | €1,237,866 | €1,204,319 | -€33,547 | -2.7% |
| Land and buildings | 22 | €1,152,914 | €1,111,452 | -€41,462 | -3.6% |
| Plant, machinery and equipment | 23 | €84,774 | €90,176 | +€5,402 | +6.4% |
| Furniture and vehicles | 24 | €178 | €2,691 | +€2,513 | +1412.2% |
| Current assets | 29/58 | €32,156 | €18,473 | -€13,683 | -42.6% |
| Amounts receivable within one year | 40/41 | €2,932 | €2,932 | = | 0.0% |
| Trade receivables | 40 | €2,932 | €2,932 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €29,129 | €15,442 | -€13,686 | -47.0% |
| Deferred charges and accrued income | 490/1 | €95 | €98 | +€3 | +3.4% |
| Total equity and liabilities | 10/49 | €1,270,022 | €1,222,792 | -€47,230 | -3.7% |
| Equity | 10/15 | €366,050 | €351,193 | -€14,857 | -4.1% |
| Contributions | 10/11 | €294,993 | €294,993 | = | 0.0% |
| Capital | 10 | €294,993 | €294,993 | = | 0.0% |
| Issued capital | 100 | €294,993 | €294,993 | = | 0.0% |
| Reserves | 13 | €190,351 | €191,420 | +€1,069 | +0.6% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Legal reserve | 130 | €5,000 | €5,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €52,372 | €49,164 | -€3,207 | -6.1% |
| Distributable reserves | 133 | €132,980 | €137,256 | +€4,276 | +3.2% |
| Profit (loss) carried forward | 14 | -€119,295 | -€135,221 | -€15,926 | -13.3% |
| Provisions and deferred taxes | 16 | €17,458 | €16,389 | -€1,069 | -6.1% |
| Deferred taxes | 168 | €17,458 | €16,389 | -€1,069 | -6.1% |
| Amounts payable | 17/49 | €886,515 | €855,211 | -€31,304 | -3.5% |
| Amounts payable after more than one year | 17 | €144,552 | €136,976 | -€7,577 | -5.2% |
| Financial debts | 170/4 | €144,050 | €136,473 | -€7,577 | -5.3% |
| Other amounts payable | 178/9 | €502 | €502 | = | 0.0% |
| Amounts payable within one year | 42/48 | €741,963 | €718,235 | -€23,728 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €7,237 | €7,577 | +€339 | +4.7% |
| Trade debts | 44 | €27,484 | €25,996 | -€1,487 | -5.4% |
| Suppliers | 440/4 | €27,484 | €25,996 | -€1,487 | -5.4% |
| Taxes, remuneration and social security | 45 | €702 | €1,546 | +€844 | +120.2% |
| Taxes | 450/3 | €402 | €46 | -€356 | -88.6% |
| Remuneration and social security | 454/9 | €300 | €1,500 | +€1,200 | +400.0% |
| Other amounts payable | 47/48 | €706,540 | €683,117 | -€23,423 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,570 | €56,920 | +€351 | +0.6% |
| Other operating charges | 640/8 | €17,966 | €21,957 | +€3,991 | +22.2% |
| Gross operating margin | 9900 | €79,620 | €64,309 | -€15,311 | -19.2% |
| Operating profit (loss) | 9901 | €5,084 | -€14,569 | -€19,653 | |
| Financial charges | 65/66B | €1,632 | €1,513 | -€120 | -7.3% |
| Recurring financial charges | 65 | €1,632 | €1,513 | -€120 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €3,452 | -€16,081 | -€19,533 | |
| Income taxes | 67/77 | €402 | €46 | -€356 | -88.6% |
| Profit (loss) for the period | 9904 | €3,050 | -€16,127 | -€19,177 | |
| Transfer from tax-exempt reserves | 789 | €4,276 | €4,276 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,326 | -€11,851 | -€19,177 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.