PIONA: 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.
PIONA
Largest movements
- Cash +€11,161
up €11,161 (+15.4%), from €72,608 to €83,770
mainly Depreciation (+€11,021) and Trade debts (+€1,631)
- Tangible fixed assets -€9,964
down €9,964 (-5.4%), from €183,539 to €173,575
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€3,135
up €3,135 (+31.6%), from €9,907 to €13,042
- Depreciation +€168
up €168 (+1.6%), from €10,853 to €11,021
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 | €258,662 | €259,852 | +€1,190 | +0.5% |
| Fixed assets | 21/28 | €183,539 | €173,575 | -€9,964 | -5.4% |
| Tangible fixed assets | 22/27 | €183,539 | €173,575 | -€9,964 | -5.4% |
| Land and buildings | 22 | €183,539 | €173,575 | -€9,964 | -5.4% |
| Current assets | 29/58 | €75,123 | €86,276 | +€11,153 | +14.8% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €72,608 | €83,770 | +€11,161 | +15.4% |
| Deferred charges and accrued income | 490/1 | €2,515 | €2,507 | -€8 | -0.3% |
| Total equity and liabilities | 10/49 | €258,662 | €259,852 | +€1,190 | +0.5% |
| Equity | 10/15 | €256,354 | €256,312 | -€42 | 0.0% |
| Contributions | 10/11 | €392,000 | €392,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€135,646 | -€135,688 | -€42 | 0.0% |
| Amounts payable | 17/49 | €2,308 | €3,540 | +€1,231 | +53.4% |
| Amounts payable within one year | 42/48 | €1,908 | €3,540 | +€1,631 | +85.5% |
| Trade debts | 44 | €1,188 | €2,820 | +€1,631 | +137.3% |
| Suppliers | 440/4 | €1,188 | €2,820 | +€1,631 | +137.3% |
| Other amounts payable | 47/48 | €720 | €720 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €400 | €0 | -€400 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,853 | €11,021 | +€168 | +1.6% |
| Other operating charges | 640/8 | €1,939 | €1,999 | +€60 | +3.1% |
| Gross operating margin | 9900 | €9,907 | €13,042 | +€3,135 | +31.6% |
| Operating profit (loss) | 9901 | -€2,884 | €22 | +€2,907 | |
| Financial charges | 65/66B | €61 | €64 | +€4 | +5.8% |
| Recurring financial charges | 65 | €61 | €64 | +€4 | +5.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,945 | -€42 | +€2,903 | +98.6% |
| Profit (loss) for the period | 9904 | -€2,945 | -€42 | +€2,903 | +98.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,945 | -€42 | +€2,903 | +98.6% |
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 30 September 2026 via checked.be.