Pikally: 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.
Pikally
Largest movements
- Tangible fixed assets +€188,399
up €188,399 (+50.9%), from €369,933 to €558,332
of which Land and buildings: +€205,942
- Current investments -€187,318
down €187,318 (-100.0%), from €187,318 to €0
- Cash +€104,437
up €104,437 (+116.5%), from €89,632 to €194,068
mainly Current investments (+€187,318) and Debts after one year (+€151,934)
- Receivables within one year +€54,261
up €54,261 (+644.5%), from €8,419 to €62,681
- Debts after one year +€151,934
up €151,934 (+165.6%), from €91,761 to €243,695
- Reserves -€52,717
down €52,717 (-18.2%), from €289,931 to €237,214
of which Distributable reserves: -€45,119
- Trade debts +€40,086
up €40,086 (+25053.7%), from €160 to €40,246
- Other debts +€23,223
up €23,223 (+96.7%), from €24,003 to €47,226
- Depreciation +€15,685
up €15,685 (+843.9%), from €1,859 to €17,543
- Financial charges +€5,783
up €5,783 (+290.1%), from €1,993 to €7,776
- Taxes -€5,606
down €5,606 (-96.4%), from €5,816 to €211
- Other operating charges +€2,892
up €2,892 (+50.6%), from €5,711 to €8,603
- Financial income +€2,445
up €2,445 (+28.5%), from €8,583 to €11,029
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
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 | €656,231 | €816,099 | +€159,867 | +24.4% |
| Fixed assets | 21/28 | €369,933 | €558,332 | +€188,399 | +50.9% |
| Tangible fixed assets | 22/27 | €369,933 | €558,332 | +€188,399 | +50.9% |
| Land and buildings | 22 | - | €205,942 | +€205,942 | |
| Other tangible fixed assets | 26 | €369,933 | €352,390 | -€17,543 | -4.7% |
| Current assets | 29/58 | €286,299 | €257,766 | -€28,532 | -10.0% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €8,419 | €62,681 | +€54,261 | +644.5% |
| Other amounts receivable | 41 | €8,419 | €62,681 | +€54,261 | +644.5% |
| Current investments | 50/53 | €187,318 | €0 | -€187,318 | -100.0% |
| Cash at bank and in hand | 54/58 | €89,632 | €194,068 | +€104,437 | +116.5% |
| Deferred charges and accrued income | 490/1 | €929 | €1,018 | +€89 | +9.5% |
| Total equity and liabilities | 10/49 | €656,231 | €816,099 | +€159,867 | +24.4% |
| Equity | 10/15 | €469,931 | €417,214 | -€52,717 | -11.2% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €289,931 | €237,214 | -€52,717 | -18.2% |
| Tax-exempt reserves | 132 | €151,151 | €143,553 | -€7,598 | -5.0% |
| Distributable reserves | 133 | €138,780 | €93,661 | -€45,119 | -32.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €50,384 | €47,851 | -€2,533 | -5.0% |
| Deferred taxes | 168 | €50,384 | €47,851 | -€2,533 | -5.0% |
| Amounts payable | 17/49 | €135,917 | €351,033 | +€215,116 | +158.3% |
| Amounts payable after more than one year | 17 | €91,761 | €243,695 | +€151,934 | +165.6% |
| Financial debts | 170/4 | €91,761 | €243,695 | +€151,934 | +165.6% |
| Amounts payable within one year | 42/48 | €43,030 | €106,339 | +€63,309 | +147.1% |
| Current portion of amounts payable after more than one year | 42 | €18,867 | €18,867 | = | 0.0% |
| Trade debts | 44 | €160 | €40,246 | +€40,086 | +25053.7% |
| Suppliers | 440/4 | €160 | €40,246 | +€40,086 | +25053.7% |
| Other amounts payable | 47/48 | €24,003 | €47,226 | +€23,223 | +96.7% |
| Accrued charges and deferred income | 492/3 | €1,126 | €1,000 | -€126 | -11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,859 | €17,543 | +€15,685 | +843.9% |
| Other operating charges | 640/8 | €5,711 | €8,603 | +€2,892 | +50.6% |
| Gross operating margin | 9900 | €17,444 | €15,082 | -€2,362 | -13.5% |
| Operating profit (loss) | 9901 | €9,874 | -€11,065 | -€20,939 | |
| Financial income | 75/76B | €8,583 | €11,029 | +€2,445 | +28.5% |
| Recurring financial income | 75 | €8,583 | €11,029 | +€2,445 | +28.5% |
| Financial charges | 65/66B | €1,993 | €7,776 | +€5,783 | +290.1% |
| Recurring financial charges | 65 | €1,993 | €7,776 | +€5,783 | +290.1% |
| Profit (loss) for the period before taxes | 9903 | €16,464 | -€7,812 | -€24,277 | |
| Transfer from deferred taxes | 780 | €270 | €2,533 | +€2,263 | +838.5% |
| Income taxes | 67/77 | €5,816 | €211 | -€5,606 | -96.4% |
| Profit (loss) for the period | 9904 | €10,918 | -€5,491 | -€16,408 | |
| Transfer from tax-exempt reserves | 789 | €810 | €7,598 | +€6,788 | +838.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,727 | €2,108 | -€9,620 | -82.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.