Pietlane: 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.
Pietlane
Largest movements
- Tangible fixed assets +€148,536
up €148,536 (+27.7%), from €535,273 to €683,809
of which Land and buildings: +€156,382
- Cash +€38,460
up €38,460 (+31.6%), from €121,896 to €160,357
mainly Net result for the year (+€279,145) and Debts after one year (+€81,178)
- Profit (loss) carried forward +€149,145
up €149,145 (+168%), from €88,654 to €237,799
- Debts after one year +€81,178
up €81,178 (+17.7%), from €457,937 to €539,115
- Other debts -€72,495
down €72,495 (-14.8%), from €490,155 to €417,660
- Tax, wage and social debts +€19,084
up €19,084 (+84.1%), from €22,679 to €41,763
- Current portion of long-term debt +€18,807
up €18,807 (+156%), from €12,063 to €30,870
- Financial income +€133,186
up €133,186 (+90.7%), from €146,814 to €280,000
- Depreciation -€41,832
down €41,832 (-52.5%), from €79,646 to €37,814
- Gross operating margin +€22,094
up €22,094 (+37.1%), from €59,546 to €81,639
- Financial charges +€5,146
up €5,146 (+13.6%), from €37,869 to €43,015
- Other operating charges +€1,453
up €1,453 (+930%), from €156 to €1,609
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 | €1,115,220 | €1,305,897 | +€190,677 | +17.1% |
| Fixed assets | 21/28 | €978,364 | €1,126,900 | +€148,536 | +15.2% |
| Tangible fixed assets | 22/27 | €535,273 | €683,809 | +€148,536 | +27.7% |
| Land and buildings | 22 | €500,976 | €657,357 | +€156,382 | +31.2% |
| Furniture and vehicles | 24 | €34,297 | €26,452 | -€7,846 | -22.9% |
| Financial fixed assets | 28 | €443,091 | €443,091 | = | 0.0% |
| Current assets | 29/58 | €136,856 | €178,997 | +€42,141 | +30.8% |
| Amounts receivable within one year | 40/41 | €13,915 | €17,565 | +€3,650 | +26.2% |
| Trade receivables | 40 | €13,915 | €13,915 | = | 0.0% |
| Other amounts receivable | 41 | - | €3,650 | +€3,650 | |
| Cash at bank and in hand | 54/58 | €121,896 | €160,357 | +€38,460 | +31.6% |
| Deferred charges and accrued income | 490/1 | €1,045 | €1,076 | +€31 | +2.9% |
| Total equity and liabilities | 10/49 | €1,115,220 | €1,305,897 | +€190,677 | +17.1% |
| Equity | 10/15 | €126,152 | €275,298 | +€149,145 | +118% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €17,498 | €17,498 | = | 0.0% |
| Distributable reserves | 133 | €17,498 | €17,498 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,654 | €237,799 | +€149,145 | +168% |
| Amounts payable | 17/49 | €989,068 | €1,030,600 | +€41,532 | +4.2% |
| Amounts payable after more than one year | 17 | €457,937 | €539,115 | +€81,178 | +17.7% |
| Financial debts | 170/4 | €457,937 | €539,115 | +€81,178 | +17.7% |
| Amounts payable within one year | 42/48 | €531,131 | €491,484 | -€39,646 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €12,063 | €30,870 | +€18,807 | +156% |
| Trade debts | 44 | €6,234 | €1,191 | -€5,042 | -80.9% |
| Suppliers | 440/4 | €6,234 | €1,191 | -€5,042 | -80.9% |
| Taxes, remuneration and social security | 45 | €22,679 | €41,763 | +€19,084 | +84.1% |
| Taxes | 450/3 | €22,679 | €41,763 | +€19,084 | +84.1% |
| Other amounts payable | 47/48 | €490,155 | €417,660 | -€72,495 | -14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,646 | €37,814 | -€41,832 | -52.5% |
| Other operating charges | 640/8 | €156 | €1,609 | +€1,453 | +930% |
| Gross operating margin | 9900 | €59,546 | €81,639 | +€22,094 | +37.1% |
| Operating profit (loss) | 9901 | -€20,257 | €42,216 | +€62,473 | |
| Financial income | 75/76B | €146,814 | €280,000 | +€133,186 | +90.7% |
| Recurring financial income | 75 | €146,814 | €280,000 | +€133,186 | +90.7% |
| Financial charges | 65/66B | €37,869 | €43,015 | +€5,146 | +13.6% |
| Recurring financial charges | 65 | €37,869 | €43,015 | +€5,146 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | €88,688 | €279,201 | +€190,513 | +215% |
| Income taxes | 67/77 | €34 | €56 | +€22 | +63.7% |
| Profit (loss) for the period | 9904 | €88,654 | €279,145 | +€190,491 | +215% |
| Profit (loss) for the period to be appropriated | 9905 | €88,654 | €279,145 | +€190,491 | +215% |
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 22 October 2026 via checked.be.