PIESSENS: 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.
PIESSENS
Largest movements
- Receivables within one year -€8,940
down €8,940 (-87.5%), from €10,221 to €1,281
of which Trade receivables: -€9,788
- Cash -€2,072
down €2,072 (-36.4%), from €5,696 to €3,624
mainly Debts after one year (-€16,404) and Stocks and contracts (-€1,980)
- Stocks and contracts +€1,980
up €1,980 (+289%), from €686 to €2,666
- Debts after one year -€16,404
down €16,404 (-25.6%), from €64,117 to €47,714
- Profit (loss) carried forward +€6,524
up €6,524 (+7.4%), from -€87,630 to -€81,106
- Current portion of long-term debt +€2,963
up €2,963 (+21.9%), from €13,537 to €16,500
- Trade debts -€1,811
down €1,811 (-28.5%), from €6,362 to €4,550
- Depreciation -€7,865
down €7,865 (-93.3%), from €8,432 to €568
- Gross operating margin -€7,838
down €7,838 (-30.7%), from €25,536 to €17,698
- Financial charges -€521
down €521 (-7.0%), from €7,424 to €6,903
of which Financial charges: -€484
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 | €136,895 | €127,296 | -€9,599 | -7.0% |
| Fixed assets | 21/28 | €120,292 | €119,724 | -€568 | -0.5% |
| Tangible fixed assets | 22/27 | €118,292 | €117,724 | -€568 | -0.5% |
| Land and buildings | 22 | €117,430 | €117,271 | -€158 | -0.1% |
| Plant, machinery and equipment | 23 | €862 | €453 | -€409 | -47.5% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €16,603 | €7,571 | -€9,032 | -54.4% |
| Stocks and contracts in progress | 3 | €686 | €2,666 | +€1,980 | +289% |
| Stocks | 30/36 | €686 | €2,666 | +€1,980 | +289% |
| Amounts receivable within one year | 40/41 | €10,221 | €1,281 | -€8,940 | -87.5% |
| Trade receivables | 40 | €10,205 | €416 | -€9,788 | -95.9% |
| Other amounts receivable | 41 | €16 | €865 | +€849 | +5,192% |
| Cash at bank and in hand | 54/58 | €5,696 | €3,624 | -€2,072 | -36.4% |
| Total equity and liabilities | 10/49 | €136,895 | €127,296 | -€9,599 | -7.0% |
| Equity | 10/15 | €26,632 | €33,155 | +€6,524 | +24.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €95,517 | €95,517 | = | 0.0% |
| Reserves | 13 | €144 | €144 | = | 0.0% |
| Non-distributable reserves | 130/1 | €144 | €144 | = | 0.0% |
| Reserves not available under the articles | 1311 | €144 | €144 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€87,630 | -€81,106 | +€6,524 | +7.4% |
| Amounts payable | 17/49 | €110,263 | €94,140 | -€16,123 | -14.6% |
| Amounts payable after more than one year | 17 | €64,117 | €47,714 | -€16,404 | -25.6% |
| Financial debts | 170/4 | €64,117 | €47,714 | -€16,404 | -25.6% |
| Amounts payable within one year | 42/48 | €46,146 | €46,426 | +€280 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €13,537 | €16,500 | +€2,963 | +21.9% |
| Financial debts | 43 | €10,013 | €9,863 | -€150 | -1.5% |
| Credit institutions | 430/8 | €10,013 | €9,863 | -€150 | -1.5% |
| Trade debts | 44 | €6,362 | €4,550 | -€1,811 | -28.5% |
| Suppliers | 440/4 | €6,362 | €4,550 | -€1,811 | -28.5% |
| Taxes, remuneration and social security | 45 | €664 | €613 | -€51 | -7.7% |
| Taxes | 450/3 | €664 | €613 | -€51 | -7.7% |
| Other amounts payable | 47/48 | €15,570 | €14,900 | -€670 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,432 | €568 | -€7,865 | -93.3% |
| Other operating charges | 640/8 | €3,602 | €3,423 | -€179 | -5.0% |
| Gross operating margin | 9900 | €25,536 | €17,698 | -€7,838 | -30.7% |
| Operating profit (loss) | 9901 | €13,502 | €13,708 | +€206 | +1.5% |
| Financial charges | 65/66B | €7,424 | €6,903 | -€521 | -7.0% |
| Recurring financial charges | 65 | €7,387 | €6,903 | -€484 | -6.6% |
| Non-recurring financial charges | 66B | €37 | - | -€37 | |
| Profit (loss) for the period before taxes | 9903 | €6,078 | €6,805 | +€727 | +12.0% |
| Income taxes | 67/77 | €112 | €281 | +€169 | +151% |
| Profit (loss) for the period | 9904 | €5,966 | €6,524 | +€558 | +9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,966 | €6,524 | +€558 | +9.4% |
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 16 October 2026 via checked.be.