Pip & Flo: 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.
Pip & Flo
Largest movements
- Receivables within one year -€13,449
down €13,449 (-62.1%), from €21,653 to €8,204
of which Trade receivables: -€13,453
- Cash -€9,125
down €9,125 (-74.1%), from €12,309 to €3,183
mainly Advances received (-€14,119) and Debts after one year (-€12,963)
- Tangible fixed assets -€4,886
down €4,886 (-2.5%), from €192,839 to €187,953
of which Land and buildings: -€5,577
- Stocks and contracts -€3,839
down €3,839 (-5.9%), from €64,860 to €61,021
- Advances received -€14,119
no longer reported in 2026 (was €14,119)
- Debts after one year -€12,963
down €12,963 (-8.5%), from €153,145 to €140,182
- Reserves -€8,860
down €8,860 (-18.1%), from €48,995 to €40,134
of which Distributable reserves: -€8,860
- Trade debts +€3,562
up €3,562 (+11.4%), from €31,376 to €34,938
- Gross operating margin -€20,608
down €20,608 (-43.3%), from €47,564 to €26,956
- Staff costs +€1,981
up €1,981 (+9.0%), from €21,903 to €23,884
- Financial income -€703
down €703 (-26.7%), from €2,632 to €1,929
From the 2025 result to the 2026 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.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €299,975 | €269,783 | -€30,192 | -10.1% |
| Fixed assets | 21/28 | €192,839 | €187,953 | -€4,886 | -2.5% |
| Tangible fixed assets | 22/27 | €192,839 | €187,953 | -€4,886 | -2.5% |
| Land and buildings | 22 | €188,903 | €183,326 | -€5,577 | -3.0% |
| Plant, machinery and equipment | 23 | €1,180 | €1,417 | +€237 | +20.1% |
| Furniture and vehicles | 24 | €2,756 | €3,210 | +€453 | +16.5% |
| Current assets | 29/58 | €107,136 | €81,830 | -€25,306 | -23.6% |
| Stocks and contracts in progress | 3 | €64,860 | €61,021 | -€3,839 | -5.9% |
| Stocks | 30/36 | €64,860 | €61,021 | -€3,839 | -5.9% |
| Amounts receivable within one year | 40/41 | €21,653 | €8,204 | -€13,449 | -62.1% |
| Trade receivables | 40 | €21,544 | €8,091 | -€13,453 | -62.4% |
| Other amounts receivable | 41 | €109 | €113 | +€4 | +3.6% |
| Cash at bank and in hand | 54/58 | €12,309 | €3,183 | -€9,125 | -74.1% |
| Deferred charges and accrued income | 490/1 | €8,314 | €9,422 | +€1,108 | +13.3% |
| Total equity and liabilities | 10/49 | €299,975 | €269,783 | -€30,192 | -10.1% |
| Equity | 10/15 | €67,595 | €58,734 | -€8,860 | -13.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €48,995 | €40,134 | -€8,860 | -18.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €47,135 | €38,274 | -€8,860 | -18.8% |
| Amounts payable | 17/49 | €232,380 | €211,048 | -€21,332 | -9.2% |
| Amounts payable after more than one year | 17 | €153,145 | €140,182 | -€12,963 | -8.5% |
| Financial debts | 170/4 | €153,145 | €140,182 | -€12,963 | -8.5% |
| Amounts payable within one year | 42/48 | €79,236 | €70,866 | -€8,369 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €12,761 | €12,963 | +€202 | +1.6% |
| Trade debts | 44 | €31,376 | €34,938 | +€3,562 | +11.4% |
| Suppliers | 440/4 | €31,376 | €34,938 | +€3,562 | +11.4% |
| Advances received on contracts in progress | 46 | €14,119 | - | -€14,119 | |
| Taxes, remuneration and social security | 45 | €8,412 | €11,179 | +€2,767 | +32.9% |
| Taxes | 450/3 | €2,634 | €4,795 | +€2,161 | +82.1% |
| Remuneration and social security | 454/9 | €5,778 | €6,384 | +€606 | +10.5% |
| Other amounts payable | 47/48 | €12,569 | €11,786 | -€783 | -6.2% |
| Non-recurring operating income | 76A | €10,419 | - | -€10,419 | |
| Remuneration, social security and pensions | 62 | €21,903 | €23,884 | +€1,981 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,623 | €7,747 | +€124 | +1.6% |
| Other operating charges | 640/8 | €2,161 | €1,743 | -€419 | -19.4% |
| Non-recurring operating charges | 66A | €81 | - | -€81 | |
| Gross operating margin | 9900 | €47,564 | €26,956 | -€20,608 | -43.3% |
| Operating profit (loss) | 9901 | €15,796 | -€6,418 | -€22,214 | |
| Financial income | 75/76B | €2,632 | €1,929 | -€703 | -26.7% |
| Recurring financial income | 75 | €2,632 | €1,929 | -€703 | -26.7% |
| Financial charges | 65/66B | €4,551 | €4,218 | -€333 | -7.3% |
| Recurring financial charges | 65 | €4,551 | €4,218 | -€333 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €13,877 | -€8,707 | -€22,584 | |
| Income taxes | 67/77 | €160 | €153 | -€7 | -4.4% |
| Profit (loss) for the period | 9904 | €13,717 | -€8,860 | -€22,577 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,717 | -€8,860 | -€22,577 |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.