Pietput: 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.
Pietput
Largest movements
- Tangible fixed assets -€33,522
down €33,522 (-19.3%), from €174,101 to €140,579
of which Plant, machinery and equipment: -€27,981
- Receivables within one year +€24,593
up €24,593 (+40.1%), from €61,256 to €85,849
of which Trade receivables: +€15,437
- Deferred charges and accrued income -€13,604
down €13,604 (-93.6%), from €14,528 to €924
- Stocks and contracts +€4,051
up €4,051 (+10.1%), from €40,070 to €44,121
- Debts after one year -€34,607
down €34,607 (-20.4%), from €169,436 to €134,829
- Trade debts +€19,354
up €19,354 (+77.5%), from €24,968 to €44,322
- Other debts +€7,801
up €7,801 (+28.1%), from €27,776 to €35,577
- Short-term financial debts -€5,704
down €5,704 (-27.3%), from €20,890 to €15,186
- Tax, wage and social debts -€4,828
down €4,828 (-73.5%), from €6,565 to €1,737
of which Remuneration and social security: -€3,240
- Depreciation -€6,544
down €6,544 (-17.5%), from €37,380 to €30,837
- Write-downs +€5,805
new in 2025: €5,805
- Gross operating margin -€4,352
down €4,352 (-4.0%), from €107,865 to €103,513
- Financial charges -€4,116
down €4,116 (-25.9%), from €15,878 to €11,762
- Staff costs +€2,454
up €2,454 (+5.0%), from €49,090 to €51,544
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €292,556 | €271,474 | -€21,082 | -7.2% |
| Fixed assets | 21/28 | €176,701 | €140,579 | -€36,122 | -20.4% |
| Tangible fixed assets | 22/27 | €174,101 | €140,579 | -€33,522 | -19.3% |
| Plant, machinery and equipment | 23 | €127,156 | €99,175 | -€27,981 | -22.0% |
| Furniture and vehicles | 24 | €46,945 | €41,404 | -€5,541 | -11.8% |
| Financial fixed assets | 28 | €2,600 | €0 | -€2,600 | -100.0% |
| Current assets | 29/58 | €115,854 | €130,894 | +€15,040 | +13.0% |
| Stocks and contracts in progress | 3 | €40,070 | €44,121 | +€4,051 | +10.1% |
| Stocks | 30/36 | €40,070 | €44,121 | +€4,051 | +10.1% |
| Amounts receivable within one year | 40/41 | €61,256 | €85,849 | +€24,593 | +40.1% |
| Trade receivables | 40 | €57,600 | €73,037 | +€15,437 | +26.8% |
| Other amounts receivable | 41 | €3,656 | €12,813 | +€9,157 | +250.5% |
| Deferred charges and accrued income | 490/1 | €14,528 | €924 | -€13,604 | -93.6% |
| Total equity and liabilities | 10/49 | €292,556 | €271,474 | -€21,082 | -7.2% |
| Equity | 10/15 | €3,508 | €4,192 | +€683 | +19.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €1,192 | +€1,192 | |
| Distributable reserves | 133 | - | €1,192 | +€1,192 | |
| Profit (loss) carried forward | 14 | €508 | €0 | -€508 | -100.0% |
| Amounts payable | 17/49 | €289,047 | €267,282 | -€21,765 | -7.5% |
| Amounts payable after more than one year | 17 | €169,436 | €134,829 | -€34,607 | -20.4% |
| Financial debts | 170/4 | €169,436 | €134,829 | -€34,607 | -20.4% |
| Amounts payable within one year | 42/48 | €119,611 | €132,453 | +€12,842 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €39,411 | €35,631 | -€3,781 | -9.6% |
| Financial debts | 43 | €20,890 | €15,186 | -€5,704 | -27.3% |
| Credit institutions | 430/8 | €20,890 | €15,186 | -€5,704 | -27.3% |
| Trade debts | 44 | €24,968 | €44,322 | +€19,354 | +77.5% |
| Suppliers | 440/4 | €24,968 | €44,322 | +€19,354 | +77.5% |
| Taxes, remuneration and social security | 45 | €6,565 | €1,737 | -€4,828 | -73.5% |
| Taxes | 450/3 | €2,059 | €471 | -€1,588 | -77.1% |
| Remuneration and social security | 454/9 | €4,506 | €1,266 | -€3,240 | -71.9% |
| Other amounts payable | 47/48 | €27,776 | €35,577 | +€7,801 | +28.1% |
| Non-recurring operating income | 76A | €3,214 | €18,295 | +€15,081 | +469.2% |
| Remuneration, social security and pensions | 62 | €49,090 | €51,544 | +€2,454 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,380 | €30,837 | -€6,544 | -17.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,805 | +€5,805 | |
| Other operating charges | 640/8 | €1,716 | €2,834 | +€1,118 | +65.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €107,865 | €103,513 | -€4,352 | -4.0% |
| Operating profit (loss) | 9901 | €19,679 | €12,495 | -€7,184 | -36.5% |
| Financial income | 75/76B | €0 | €373 | +€373 | |
| Recurring financial income | 75 | €0 | €373 | +€373 | |
| Financial charges | 65/66B | €15,878 | €11,762 | -€4,116 | -25.9% |
| Recurring financial charges | 65 | €15,878 | €11,762 | -€4,116 | -25.9% |
| Profit (loss) for the period before taxes | 9903 | €3,801 | €1,106 | -€2,695 | -70.9% |
| Income taxes | 67/77 | €27 | €423 | +€396 | +1443.6% |
| Profit (loss) for the period | 9904 | €3,774 | €683 | -€3,091 | -81.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,774 | €683 | -€3,091 | -81.9% |
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 12 October 2026 via checked.be.