Pipa Pro: 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.
Pipa Pro
Largest movements
- Tangible fixed assets +€29,180
up €29,180 (+63.6%), from €45,867 to €75,047
of which Furniture and vehicles: +€20,124
- Cash -€3,013
down €3,013 (-1.7%), from €179,659 to €176,646
mainly Investment in fixed assets (net) (-€42,749) and Tax, wage and social debts (-€15,281)
- Receivables within one year -€2,693
down €2,693 (-16.4%), from €16,388 to €13,695
- Reserves +€50,699
up €50,699 (+28.7%), from €176,849 to €227,548
- Tax, wage and social debts -€15,281
down €15,281 (-34.7%), from €43,988 to €28,707
of which Taxes: -€14,084
- Other debts -€7,561
down €7,561 (-71.3%), from €10,602 to €3,041
- Trade debts -€3,240
down €3,240 (-58.5%), from €5,542 to €2,302
- Taxes -€13,542
down €13,542 (-46.7%), from €28,968 to €15,425
- Gross operating margin -€13,022
down €13,022 (-13.6%), from €95,407 to €82,384
- Financial income -€2,041
down €2,041 (-56.2%), from €3,633 to €1,592
- Financial charges +€1,974
up €1,974 (+304.5%), from €648 to €2,622
of which Non-recurring financial charges: +€1,446
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 | €242,619 | €267,222 | +€24,603 | +10.1% |
| Fixed assets | 21/28 | €45,867 | €75,047 | +€29,180 | +63.6% |
| Tangible fixed assets | 22/27 | €45,867 | €75,047 | +€29,180 | +63.6% |
| Plant, machinery and equipment | 23 | €1,535 | €1,097 | -€438 | -28.5% |
| Furniture and vehicles | 24 | €38,324 | €58,448 | +€20,124 | +52.5% |
| Other tangible fixed assets | 26 | €6,008 | €15,502 | +€9,495 | +158.0% |
| Current assets | 29/58 | €196,752 | €192,175 | -€4,577 | -2.3% |
| Amounts receivable within one year | 40/41 | €16,388 | €13,695 | -€2,693 | -16.4% |
| Trade receivables | 40 | €16,388 | €13,695 | -€2,693 | -16.4% |
| Cash at bank and in hand | 54/58 | €179,659 | €176,646 | -€3,013 | -1.7% |
| Deferred charges and accrued income | 490/1 | €706 | €1,834 | +€1,128 | +159.9% |
| Total equity and liabilities | 10/49 | €242,619 | €267,222 | +€24,603 | +10.1% |
| Equity | 10/15 | €181,849 | €232,548 | +€50,699 | +27.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €176,849 | €227,548 | +€50,699 | +28.7% |
| Distributable reserves | 133 | €176,849 | €227,548 | +€50,699 | +28.7% |
| Amounts payable | 17/49 | €60,770 | €34,674 | -€26,096 | -42.9% |
| Amounts payable within one year | 42/48 | €60,132 | €34,050 | -€26,082 | -43.4% |
| Trade debts | 44 | €5,542 | €2,302 | -€3,240 | -58.5% |
| Suppliers | 440/4 | €5,542 | €2,302 | -€3,240 | -58.5% |
| Taxes, remuneration and social security | 45 | €43,988 | €28,707 | -€15,281 | -34.7% |
| Taxes | 450/3 | €42,791 | €28,707 | -€14,084 | -32.9% |
| Remuneration and social security | 454/9 | €1,197 | €0 | -€1,197 | -100.0% |
| Other amounts payable | 47/48 | €10,602 | €3,041 | -€7,561 | -71.3% |
| Accrued charges and deferred income | 492/3 | €638 | €624 | -€14 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,201 | €13,569 | -€632 | -4.4% |
| Other operating charges | 640/8 | €1,664 | €1,661 | -€3 | -0.2% |
| Gross operating margin | 9900 | €95,407 | €82,384 | -€13,022 | -13.6% |
| Operating profit (loss) | 9901 | €79,541 | €67,154 | -€12,387 | -15.6% |
| Financial income | 75/76B | €3,633 | €1,592 | -€2,041 | -56.2% |
| Recurring financial income | 75 | €3,633 | €1,592 | -€2,041 | -56.2% |
| Financial charges | 65/66B | €648 | €2,622 | +€1,974 | +304.5% |
| Recurring financial charges | 65 | €648 | €1,177 | +€528 | +81.5% |
| Non-recurring financial charges | 66B | - | €1,446 | +€1,446 | |
| Profit (loss) for the period before taxes | 9903 | €82,526 | €66,124 | -€16,402 | -19.9% |
| Income taxes | 67/77 | €28,968 | €15,425 | -€13,542 | -46.7% |
| Profit (loss) for the period | 9904 | €53,559 | €50,699 | -€2,860 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €53,559 | €50,699 | -€2,860 | -5.3% |
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.