PIOU: 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.
PIOU
Largest movements
- Receivables within one year -€14,759
down €14,759 (-18.6%), from €79,168 to €64,409
of which Trade receivables: -€10,508
- Cash -€11,948
down €11,948 (-23.2%), from €51,409 to €39,460
mainly Net result for the year (-€23,497) and Advances received (-€17,371)
- Tangible fixed assets -€8,270
down €8,270 (-19.7%), from €41,956 to €33,686
of which Other tangible fixed assets: -€4,246
- Profit (loss) carried forward -€23,497
down €23,497, from €15,485 to -€8,013
- Advances received -€17,371
no longer reported in 2025 (was €17,371)
- Trade debts +€6,336
up €6,336 (+54.9%), from €11,534 to €17,871
- Tax, wage and social debts +€2,820
up €2,820 (+8.7%), from €32,253 to €35,073
of which Remuneration and social security: +€9,481
- Turnover -€435,774
no longer reported in 2025 (was €435,774)
- Purchases and services -€290,243
no longer reported in 2025 (was €290,243)
- Staff costs +€89,315
up €89,315 (+95.6%), from €93,420 to €182,735
- Gross operating margin +€24,253
up €24,253 (+16.0%), from €151,715 to €175,969
- Taxes -€8,475
no longer reported in 2025 (was €8,475)
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 | €205,171 | €172,584 | -€32,588 | -15.9% |
| Fixed assets | 21/28 | €53,003 | €44,096 | -€8,907 | -16.8% |
| Tangible fixed assets | 22/27 | €41,956 | €33,686 | -€8,270 | -19.7% |
| Plant, machinery and equipment | 23 | €5,397 | €4,301 | -€1,096 | -20.3% |
| Furniture and vehicles | 24 | €4,477 | €3,078 | -€1,399 | -31.2% |
| Leasing and similar rights | 25 | €5,111 | €3,582 | -€1,529 | -29.9% |
| Other tangible fixed assets | 26 | €26,971 | €22,725 | -€4,246 | -15.7% |
| Financial fixed assets | 28 | €11,047 | €10,410 | -€637 | -5.8% |
| Current assets | 29/58 | €152,168 | €128,487 | -€23,681 | -15.6% |
| Stocks and contracts in progress | 3 | €16,284 | €17,390 | +€1,106 | +6.8% |
| Stocks | 30/36 | €16,284 | €17,390 | +€1,106 | +6.8% |
| Amounts receivable within one year | 40/41 | €79,168 | €64,409 | -€14,759 | -18.6% |
| Trade receivables | 40 | €20,488 | €9,981 | -€10,508 | -51.3% |
| Other amounts receivable | 41 | €58,680 | €54,428 | -€4,252 | -7.2% |
| Cash at bank and in hand | 54/58 | €51,409 | €39,460 | -€11,948 | -23.2% |
| Deferred charges and accrued income | 490/1 | €5,307 | €7,227 | +€1,920 | +36.2% |
| Total equity and liabilities | 10/49 | €205,171 | €172,584 | -€32,588 | -15.9% |
| Equity | 10/15 | €142,145 | €118,647 | -€23,497 | -16.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €108,060 | €108,060 | = | 0.0% |
| Distributable reserves | 133 | €108,060 | €108,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,485 | -€8,013 | -€23,497 | |
| Amounts payable | 17/49 | €63,027 | €53,936 | -€9,091 | -14.4% |
| Amounts payable within one year | 42/48 | €63,027 | €52,944 | -€10,083 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | €1,541 | - | -€1,541 | |
| Trade debts | 44 | €11,534 | €17,871 | +€6,336 | +54.9% |
| Suppliers | 440/4 | €11,534 | €17,871 | +€6,336 | +54.9% |
| Advances received on contracts in progress | 46 | €17,371 | - | -€17,371 | |
| Taxes, remuneration and social security | 45 | €32,253 | €35,073 | +€2,820 | +8.7% |
| Taxes | 450/3 | €25,365 | €18,703 | -€6,662 | -26.3% |
| Remuneration and social security | 454/9 | €6,888 | €16,370 | +€9,481 | +137.6% |
| Other amounts payable | 47/48 | €327 | - | -€327 | |
| Accrued charges and deferred income | 492/3 | - | €993 | +€993 | |
| Turnover | 70 | €435,774 | - | -€435,774 | |
| Non-recurring operating income | 76A | €1,679 | €103 | -€1,576 | -93.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €290,243 | - | -€290,243 | |
| Remuneration, social security and pensions | 62 | €93,420 | €182,735 | +€89,315 | +95.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,305 | €11,228 | -€1,077 | -8.8% |
| Other operating charges | 640/8 | €5,176 | €954 | -€4,222 | -81.6% |
| Gross operating margin | 9900 | €151,715 | €175,969 | +€24,253 | +16.0% |
| Operating profit (loss) | 9901 | €40,814 | -€18,948 | -€59,762 | |
| Financial income | 75/76B | €0 | €2 | +€2 | +670.0% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +670.0% |
| Financial charges | 65/66B | €4,442 | €4,552 | +€110 | +2.5% |
| Recurring financial charges | 65 | €4,442 | €4,552 | +€110 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €36,372 | -€23,497 | -€59,869 | |
| Income taxes | 67/77 | €8,475 | - | -€8,475 | |
| Profit (loss) for the period | 9904 | €27,897 | -€23,497 | -€51,394 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,897 | -€23,497 | -€51,394 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.