PIHAFIN: 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.
PIHAFIN
Largest movements
- Current investments +€173,828
up €173,828 (+76.6%), from €227,069 to €400,897
- Cash +€33,503
up €33,503 (+125%), from €26,733 to €60,236
mainly Net result for the year (+€193,472) and Depreciation (+€11,206)
- Tangible fixed assets -€11,206
down €11,206 (-29.5%), from €37,968 to €26,762
of which Furniture and vehicles: -€10,973
- Reserves +€174,740
up €174,740 (+65.5%), from €266,760 to €441,500
- Profit (loss) carried forward +€18,732
up €18,732 (+262%), from €7,163 to €25,895
- Gross operating margin +€230,266
up €230,266 (+351%), from €65,534 to €295,799
- Turnover +€202,848
up €202,848 (+135%), from €150,286 to €353,134
- Taxes +€77,619
up €77,619 (+503%), from €15,431 to €93,050
- Purchases and services -€28,175
down €28,175 (-30.8%), from €91,384 to €63,209
- Other operating charges -€5,219
down €5,219 (-84.9%), from €6,151 to €932
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 | €294,629 | €488,066 | +€193,437 | +65.7% |
| Fixed assets | 21/28 | €38,664 | €26,762 | -€11,902 | -30.8% |
| Tangible fixed assets | 22/27 | €37,968 | €26,762 | -€11,206 | -29.5% |
| Plant, machinery and equipment | 23 | €615 | €382 | -€233 | -37.9% |
| Furniture and vehicles | 24 | €37,353 | €26,380 | -€10,973 | -29.4% |
| Financial fixed assets | 28 | €696 | - | -€696 | |
| Current assets | 29/58 | €255,965 | €461,305 | +€205,339 | +80.2% |
| Amounts receivable within one year | 40/41 | €2,164 | €172 | -€1,992 | -92.1% |
| Trade receivables | 40 | - | €140 | +€140 | |
| Other amounts receivable | 41 | €2,164 | €31 | -€2,132 | -98.5% |
| Current investments | 50/53 | €227,069 | €400,897 | +€173,828 | +76.6% |
| Cash at bank and in hand | 54/58 | €26,733 | €60,236 | +€33,503 | +125% |
| Total equity and liabilities | 10/49 | €294,629 | €488,066 | +€193,437 | +65.7% |
| Equity | 10/15 | €292,523 | €485,995 | +€193,472 | +66.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €266,760 | €441,500 | +€174,740 | +65.5% |
| Distributable reserves | 133 | €266,760 | €441,500 | +€174,740 | +65.5% |
| Profit (loss) carried forward | 14 | €7,163 | €25,895 | +€18,732 | +262% |
| Amounts payable | 17/49 | €2,107 | €2,072 | -€35 | -1.7% |
| Amounts payable within one year | 42/48 | €2,107 | €2,072 | -€35 | -1.7% |
| Trade debts | 44 | €849 | - | -€849 | |
| Suppliers | 440/4 | €849 | - | -€849 | |
| Taxes, remuneration and social security | 45 | - | €2,072 | +€2,072 | |
| Taxes | 450/3 | - | €2,072 | +€2,072 | |
| Other amounts payable | 47/48 | €1,258 | - | -€1,258 | |
| Turnover | 70 | €150,286 | €353,134 | +€202,848 | +135% |
| Goods, raw materials, services and sundry goods | 60/61 | €91,384 | €63,209 | -€28,175 | -30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,466 | €11,206 | +€2,740 | +32.4% |
| Other operating charges | 640/8 | €6,151 | €932 | -€5,219 | -84.9% |
| Gross operating margin | 9900 | €65,534 | €295,799 | +€230,266 | +351% |
| Operating profit (loss) | 9901 | €50,916 | €283,662 | +€232,745 | +457% |
| Financial income | 75/76B | €2,184 | €3,384 | +€1,200 | +54.9% |
| Recurring financial income | 75 | €2,184 | €3,384 | +€1,200 | +54.9% |
| Financial charges | 65/66B | €905 | €523 | -€382 | -42.2% |
| Recurring financial charges | 65 | €905 | €523 | -€382 | -42.2% |
| Profit (loss) for the period before taxes | 9903 | €52,195 | €286,522 | +€234,327 | +449% |
| Income taxes | 67/77 | €15,431 | €93,050 | +€77,619 | +503% |
| Profit (loss) for the period | 9904 | €36,764 | €193,472 | +€156,709 | +426% |
| Profit (loss) for the period to be appropriated | 9905 | €36,764 | €193,472 | +€156,709 | +426% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.