PIMG: 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.
PIMG
Largest movements
- Receivables within one year -€24,935
down €24,935 (-69.5%), from €35,872 to €10,937
of which Other amounts receivable: -€27,423
- Current investments +€15,000
up €15,000 (+93.8%), from €16,000 to €31,000
- Cash +€7,900
up €7,900 (+8.9%), from €88,495 to €96,396
mainly Net result for the year (+€72,877) and Receivables within one year (+€24,935)
- Tangible fixed assets -€6,466
down €6,466 (-8.4%), from €77,139 to €70,673
of which Other tangible fixed assets: -€5,506
- Other debts -€13,528
down €13,528 (-22.8%), from €59,312 to €45,784
- Trade debts +€2,782
up €2,782 (+61.6%), from €4,517 to €7,299
- Provisions -€13,234
down €13,234 (-93.7%), from €14,130 to €896
- Financial charges +€12,694
up €12,694 (+58.4%), from €21,720 to €34,414
- Taxes -€3,175
down €3,175 (-9.0%), from €35,447 to €32,272
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 | €230,117 | €221,889 | -€8,228 | -3.6% |
| Fixed assets | 21/28 | €77,549 | €70,673 | -€6,876 | -8.9% |
| Intangible fixed assets | 21 | €410 | - | -€410 | |
| Tangible fixed assets | 22/27 | €77,139 | €70,673 | -€6,466 | -8.4% |
| Furniture and vehicles | 24 | €1,989 | €1,030 | -€960 | -48.2% |
| Other tangible fixed assets | 26 | €75,150 | €69,643 | -€5,506 | -7.3% |
| Current assets | 29/58 | €152,569 | €151,216 | -€1,353 | -0.9% |
| Stocks and contracts in progress | 3 | €10,287 | €10,813 | +€527 | +5.1% |
| Stocks | 30/36 | €10,287 | €10,813 | +€527 | +5.1% |
| Amounts receivable within one year | 40/41 | €35,872 | €10,937 | -€24,935 | -69.5% |
| Trade receivables | 40 | €873 | €3,361 | +€2,488 | +285.0% |
| Other amounts receivable | 41 | €34,999 | €7,577 | -€27,423 | -78.4% |
| Current investments | 50/53 | €16,000 | €31,000 | +€15,000 | +93.8% |
| Cash at bank and in hand | 54/58 | €88,495 | €96,396 | +€7,900 | +8.9% |
| Deferred charges and accrued income | 490/1 | €1,914 | €2,070 | +€155 | +8.1% |
| Total equity and liabilities | 10/49 | €230,117 | €221,889 | -€8,228 | -3.6% |
| Equity | 10/15 | €120,372 | €120,372 | = | 0.0% |
| Contributions | 10/11 | €18,859 | €18,859 | = | 0.0% |
| Reserves | 13 | €101,513 | €101,513 | = | 0.0% |
| Distributable reserves | 133 | €101,513 | €101,513 | = | 0.0% |
| Provisions and deferred taxes | 16 | €28,838 | €29,734 | +€896 | +3.1% |
| Provisions for liabilities and charges | 160/5 | €28,838 | €29,734 | +€896 | +3.1% |
| Other liabilities and charges | 164/5 | €28,838 | €29,734 | +€896 | +3.1% |
| Amounts payable | 17/49 | €80,908 | €71,783 | -€9,124 | -11.3% |
| Amounts payable within one year | 42/48 | €80,908 | €71,783 | -€9,124 | -11.3% |
| Financial debts | 43 | €582 | €438 | -€143 | -24.6% |
| Credit institutions | 430/8 | €582 | €438 | -€143 | -24.6% |
| Trade debts | 44 | €4,517 | €7,299 | +€2,782 | +61.6% |
| Suppliers | 440/4 | €4,517 | €7,299 | +€2,782 | +61.6% |
| Taxes, remuneration and social security | 45 | €16,497 | €18,263 | +€1,766 | +10.7% |
| Taxes | 450/3 | €16,497 | €18,263 | +€1,766 | +10.7% |
| Other amounts payable | 47/48 | €59,312 | €45,784 | -€13,528 | -22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,264 | €10,310 | +€46 | +0.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €14,130 | €896 | -€13,234 | -93.7% |
| Other operating charges | 640/8 | €892 | €550 | -€342 | -38.4% |
| Gross operating margin | 9900 | €150,420 | €150,463 | +€42 | 0.0% |
| Operating profit (loss) | 9901 | €125,134 | €138,707 | +€13,573 | +10.8% |
| Financial income | 75/76B | €1,812 | €856 | -€956 | -52.8% |
| Recurring financial income | 75 | €1,812 | €856 | -€956 | -52.8% |
| Financial charges | 65/66B | €21,720 | €34,414 | +€12,694 | +58.4% |
| Recurring financial charges | 65 | €21,720 | €34,414 | +€12,694 | +58.4% |
| Profit (loss) for the period before taxes | 9903 | €105,226 | €105,149 | -€77 | -0.1% |
| Income taxes | 67/77 | €35,447 | €32,272 | -€3,175 | -9.0% |
| Profit (loss) for the period | 9904 | €69,779 | €72,877 | +€3,098 | +4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €69,779 | €72,877 | +€3,098 | +4.4% |
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 9 October 2026 via checked.be.