PIGNA: 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.
PIGNA
Largest movements
- Cash +€17,843
up €17,843 (+33.2%), from €53,689 to €71,533
mainly Net result for the year (+€7,037) and Depreciation (+€6,740)
- Tangible fixed assets -€6,740
down €6,740 (-39.6%), from €17,015 to €10,275
of which Furniture and vehicles: -€5,992
- Reserves +€6,204
up €6,204 (+9.5%), from €65,051 to €71,255
- Other debts +€2,498
up €2,498 (+74.8%), from €3,337 to €5,835
- Tax, wage and social debts +€2,204
up €2,204 (+2709.2%), from €81 to €2,285
- Gross operating margin +€13,749
up €13,749 (+514.5%), from €2,672 to €16,422
- Taxes +€1,938
new in 2025: €1,938
- Other operating charges +€352
up €352 (+60.7%), from €580 to €932
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €77,150 | €88,056 | +€10,906 | +14.1% |
| Fixed assets | 21/28 | €17,015 | €10,275 | -€6,740 | -39.6% |
| Tangible fixed assets | 22/27 | €17,015 | €10,275 | -€6,740 | -39.6% |
| Plant, machinery and equipment | 23 | €1,092 | €343 | -€749 | -68.6% |
| Furniture and vehicles | 24 | €15,923 | €9,932 | -€5,992 | -37.6% |
| Current assets | 29/58 | €60,135 | €77,781 | +€17,647 | +29.3% |
| Amounts receivable within one year | 40/41 | €6,445 | €6,249 | -€197 | -3.0% |
| Trade receivables | 40 | €6,041 | €6,249 | +€208 | +3.4% |
| Other amounts receivable | 41 | €405 | - | -€405 | |
| Cash at bank and in hand | 54/58 | €53,689 | €71,533 | +€17,843 | +33.2% |
| Total equity and liabilities | 10/49 | €77,150 | €88,056 | +€10,906 | +14.1% |
| Equity | 10/15 | €73,731 | €79,935 | +€6,204 | +8.4% |
| Contributions | 10/11 | €8,680 | €8,680 | = | 0.0% |
| Reserves | 13 | €65,051 | €71,255 | +€6,204 | +9.5% |
| Distributable reserves | 133 | €65,051 | €71,255 | +€6,204 | +9.5% |
| Amounts payable | 17/49 | €3,419 | €8,121 | +€4,702 | +137.5% |
| Amounts payable within one year | 42/48 | €3,419 | €8,121 | +€4,702 | +137.5% |
| Taxes, remuneration and social security | 45 | €81 | €2,285 | +€2,204 | +2709.2% |
| Taxes | 450/3 | €81 | €2,285 | +€2,204 | +2709.2% |
| Other amounts payable | 47/48 | €3,337 | €5,835 | +€2,498 | +74.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,798 | €6,740 | -€58 | -0.9% |
| Other operating charges | 640/8 | €580 | €932 | +€352 | +60.7% |
| Gross operating margin | 9900 | €2,672 | €16,422 | +€13,749 | +514.5% |
| Operating profit (loss) | 9901 | -€4,706 | €8,749 | +€13,455 | |
| Financial income | 75/76B | €217 | €376 | +€159 | +72.9% |
| Recurring financial income | 75 | €217 | €376 | +€159 | +72.9% |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,624 | €8,975 | +€13,599 | |
| Income taxes | 67/77 | - | €1,938 | +€1,938 | |
| Profit (loss) for the period | 9904 | -€4,624 | €7,037 | +€11,661 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,624 | €7,037 | +€11,661 |
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.