PIEVAST B.V.: 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.
What changed
PIEVAST B.V.
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€174,962
2024 · €150,545+€24,417
Equity
€105.4m
2024 · €105.2m+€174,962
Cash
€5.3m
2024 · €739,528+€4.5m
Balance sheet total
€105.4m
2024 · €105.3m+€141,197
Largest movements
Assets
- Financial fixed assets -€5.0m
down €5.0m (-5.4%), from €93.4m to €88.4m
- Cash +€4.5m
up €4.5m (+610%), from €739,528 to €5.3m
mainly Investment in fixed assets (net) (+€5.0m) and Net result for the year (+€174,962)
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Turnover -€285,035
no longer reported in 2025 (was €285,035)
- Goods and materials -€197,815
no longer reported in 2025 (was €197,815)
of which Purchases: -€195,041
- Financial income +€152,816
up €152,816 (+68.9%), from €221,825 to €374,641
of which Financial income: +€152,816
- Services and other goods -€81,223
no longer reported in 2025 (was €81,223)
- Taxes +€52,792
up €52,792 (+181%), from €29,149 to €81,941
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.
Result 2024
€150,545
Turnover
-€285,035
Goods and materials
+€197,815
Services and other goods
+€81,223
Staff costs
-€23,833
Depreciation
-€11
Other operating charges
-€20,324
Other operating items
-€19,104
Financial income
+€152,816
Financial charges
-€6,338
Taxes
-€52,792
Result 2025
€174,962
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€346,854
Investment
+€4.9m
Financing
€0
Cash 2024
€739,528
From operations (derived)
-€346,854
Net result for the year
+€174,962
Depreciation
+€9,036
Stocks and contracts
+€23,018
Receivables within one year
-€558,269
Deferred charges and accrued income
+€38,164
Smaller working-capital items
-€7,313
Tax, wage and social debts
-€26,452
Investment (derived)
+€4.9m
Investment in fixed assets (net)
+€5.0m
Current investments
-€140,927
Cash 2025
€5.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €105,295,680 | €105,436,877 | +€141,197 | +0.1% |
| Fixed assets | 21/28 | €93,454,478 | €88,445,321 | -€5.0m | -5.4% |
| Intangible fixed assets | 21 | €27,529 | €19,056 | -€8,473 | -30.8% |
| Tangible fixed assets | 22/27 | €4,518 | €3,955 | -€563 | -12.5% |
| Plant, machinery and equipment | 23 | €2,018 | €1,455 | -€563 | -27.9% |
| Furniture and vehicles | 24 | €2,500 | €2,500 | = | 0.0% |
| Financial fixed assets | 28 | €93,422,431 | €88,422,310 | -€5.0m | -5.4% |
| Affiliated companies | 280/1 | €93,422,431 | - | -€93.4m | |
| Participating interests | 280 | €93,422,431 | - | -€93.4m | |
| Current assets | 29/58 | €11,841,202 | €16,991,555 | +€5.2m | +43.5% |
| Stocks and contracts in progress | 3 | €87,651 | €64,632 | -€23,018 | -26.3% |
| Stocks | 30/36 | €87,651 | €64,632 | -€23,018 | -26.3% |
| Goods purchased for resale | 34 | €87,651 | - | -€87,651 | |
| Amounts receivable within one year | 40/41 | €5,302,550 | €5,860,819 | +€558,269 | +10.5% |
| Trade receivables | 40 | €2,400 | €1,008 | -€1,391 | -58.0% |
| Other amounts receivable | 41 | €5,300,150 | €5,859,811 | +€559,661 | +10.6% |
| Current investments | 50/53 | €5,618,975 | €5,759,902 | +€140,927 | +2.5% |
| Other investments | 51/53 | €5,618,975 | - | -€5.6m | |
| Cash at bank and in hand | 54/58 | €739,528 | €5,251,867 | +€4.5m | +610% |
| Deferred charges and accrued income | 490/1 | €92,499 | €54,334 | -€38,164 | -41.3% |
| Total equity and liabilities | 10/49 | €105,295,680 | €105,436,877 | +€141,197 | +0.1% |
| Equity | 10/15 | €105,240,357 | €105,415,319 | +€174,962 | +0.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €91,305,367 | €91,305,367 | = | 0.0% |
| Distributable reserves | 133 | €91,305,367 | €91,305,367 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,916,440 | €14,091,402 | +€174,962 | +1.3% |
| Amounts payable | 17/49 | €55,323 | €21,558 | -€33,765 | -61.0% |
| Amounts payable within one year | 42/48 | €53,573 | €19,808 | -€33,765 | -63.0% |
| Trade debts | 44 | €13,149 | €6,340 | -€6,809 | -51.8% |
| Suppliers | 440/4 | €13,149 | €6,340 | -€6,809 | -51.8% |
| Taxes, remuneration and social security | 45 | €35,213 | €8,761 | -€26,452 | -75.1% |
| Taxes | 450/3 | €33,658 | €6,860 | -€26,798 | -79.6% |
| Remuneration and social security | 454/9 | €1,556 | €1,901 | +€346 | +22.2% |
| Other amounts payable | 47/48 | €5,211 | €4,706 | -€504 | -9.7% |
| Accrued charges and deferred income | 492/3 | €1,750 | €1,750 | = | 0.0% |
| Operating income | 70/76A | €285,035 | - | -€285,035 | |
| Turnover | 70 | €285,035 | - | -€285,035 | |
| Non-recurring operating income | 76A | - | €54 | +€54 | |
| Operating charges | 60/66A | €319,495 | - | -€319,495 | |
| Goods for resale, raw materials and consumables | 60 | €197,815 | - | -€197,815 | |
| Purchases | 600/8 | €195,041 | - | -€195,041 | |
| Change in stocks: decrease (increase) | 609 | €2,773 | - | -€2,773 | |
| Services and other goods | 61 | €81,223 | - | -€81,223 | |
| Remuneration, social security and pensions | 62 | €29,774 | €53,607 | +€23,833 | +80.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,025 | €9,036 | +€11 | +0.1% |
| Other operating charges | 640/8 | €1,659 | €21,982 | +€20,324 | +1,225% |
| Gross operating margin | 9900 | - | -€19,104 | -€19,104 | |
| Operating profit (loss) | 9901 | -€34,460 | -€103,729 | -€69,269 | -201% |
| Financial income | 75/76B | €221,825 | €374,641 | +€152,816 | +68.9% |
| Recurring financial income | 75 | €221,825 | €374,641 | +€152,816 | +68.9% |
| Income from current assets | 751 | €221,807 | - | -€221,807 | |
| Other financial income | 752/9 | €18 | - | -€18 | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €7,671 | €14,009 | +€6,338 | +82.6% |
| Recurring financial charges | 65 | €7,671 | €14,009 | +€6,338 | +82.6% |
| Other financial charges | 652/9 | €7,671 | - | -€7,671 | |
| Profit (loss) for the period before taxes | 9903 | €179,693 | €256,903 | +€77,209 | +43.0% |
| Income taxes | 67/77 | €29,149 | €81,941 | +€52,792 | +181% |
| Taxes | 670/3 | €29,149 | - | -€29,149 | |
| Profit (loss) for the period | 9904 | €150,545 | €174,962 | +€24,417 | +16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €150,545 | €174,962 | +€24,417 | +16.2% |
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 26 October 2026 via checked.be.