PIKO: 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.
PIKO
Largest movements
- Receivables within one year +€15,545
up €15,545 (+7.2%), from €216,052 to €231,597
of which Trade receivables: +€7,924
- Tangible fixed assets -€2,403
down €2,403 (-22.1%), from €10,866 to €8,463
of which Plant, machinery and equipment: -€1,223
- Profit (loss) carried forward +€35,788
up €35,788 (+20.5%), from €174,982 to €210,770
- Trade debts -€18,397
down €18,397 (-65.7%), from €27,982 to €9,585
- Tax, wage and social debts -€4,249
down €4,249 (-24.7%), from €17,206 to €12,957
- Gross operating margin -€23,921
down €23,921 (-31.4%), from €76,116 to €52,195
- Taxes -€17,205
no longer reported in 2025 (was €17,205)
- Depreciation +€7,497
up €7,497 (+118.9%), from €6,307 to €13,804
- Other operating charges +€1,566
up €1,566 (+158.2%), from €990 to €2,556
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 | €226,918 | €240,060 | +€13,142 | +5.8% |
| Fixed assets | 21/28 | €10,866 | €8,463 | -€2,403 | -22.1% |
| Tangible fixed assets | 22/27 | €10,866 | €8,463 | -€2,403 | -22.1% |
| Plant, machinery and equipment | 23 | €1,783 | €560 | -€1,223 | -68.6% |
| Furniture and vehicles | 24 | €9,083 | €7,903 | -€1,180 | -13.0% |
| Current assets | 29/58 | €216,052 | €231,597 | +€15,545 | +7.2% |
| Amounts receivable within one year | 40/41 | €216,052 | €231,597 | +€15,545 | +7.2% |
| Trade receivables | 40 | €157,438 | €165,362 | +€7,924 | +5.0% |
| Other amounts receivable | 41 | €58,614 | €66,235 | +€7,621 | +13.0% |
| Total equity and liabilities | 10/49 | €226,918 | €240,060 | +€13,142 | +5.8% |
| Equity | 10/15 | €181,730 | €217,518 | +€35,788 | +19.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €1,748 | €1,748 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,748 | €1,748 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,748 | €1,748 | = | 0.0% |
| Profit (loss) carried forward | 14 | €174,982 | €210,770 | +€35,788 | +20.5% |
| Amounts payable | 17/49 | €45,188 | €22,542 | -€22,646 | -50.1% |
| Amounts payable within one year | 42/48 | €45,188 | €22,542 | -€22,646 | -50.1% |
| Trade debts | 44 | €27,982 | €9,585 | -€18,397 | -65.7% |
| Suppliers | 440/4 | €27,982 | €9,585 | -€18,397 | -65.7% |
| Taxes, remuneration and social security | 45 | €17,206 | €12,957 | -€4,249 | -24.7% |
| Taxes | 450/3 | €17,206 | €12,957 | -€4,249 | -24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,307 | €13,804 | +€7,497 | +118.9% |
| Other operating charges | 640/8 | €990 | €2,556 | +€1,566 | +158.2% |
| Gross operating margin | 9900 | €76,116 | €52,195 | -€23,921 | -31.4% |
| Operating profit (loss) | 9901 | €68,819 | €35,835 | -€32,984 | -47.9% |
| Financial charges | 65/66B | - | €47 | +€47 | |
| Recurring financial charges | 65 | - | €47 | +€47 | |
| Profit (loss) for the period before taxes | 9903 | €68,819 | €35,788 | -€33,031 | -48.0% |
| Income taxes | 67/77 | €17,205 | - | -€17,205 | |
| Profit (loss) for the period | 9904 | €51,614 | €35,788 | -€15,826 | -30.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,614 | €35,788 | -€15,826 | -30.7% |
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 3 October 2026 via checked.be.