PIPE FITTING SOLUTIONS: 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.
PIPE FITTING SOLUTIONS
Largest movements
- Cash +€98,516
up €98,516 (+274%), from €35,956 to €134,472
mainly Net result for the year (+€453,831) and Stocks and contracts (+€40,000)
- Receivables within one year +€85,615
up €85,615 (+132%), from €64,623 to €150,238
of which Other amounts receivable: +€103,090
- Stocks and contracts -€40,000
down €40,000 (-100%), from €40,000 to €0
- Tangible fixed assets -€21,348
down €21,348 (-3.2%), from €669,800 to €648,452
of which Furniture and vehicles: -€16,101
- Reserves +€347,831
up €347,831 (+288%), from €120,623 to €468,454
- Debts after one year -€172,197
down €172,197 (-34.8%), from €495,180 to €322,984
- Other debts -€38,782
down €38,782 (-26.8%), from €144,782 to €106,000
- Current portion of long-term debt -€21,501
down €21,501 (-63.4%), from €33,927 to €12,427
- Gross operating margin +€517,483
up €517,483 (+308%), from €168,057 to €685,540
- Taxes +€130,379
up €130,379 (+719%), from €18,145 to €148,525
- Depreciation -€40,172
down €40,172 (-52.8%), from €76,097 to €35,925
- Staff costs +€13,984
up €13,984 (+465%), from €3,008 to €16,992
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.
Derived cash bridge
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 | €820,472 | €940,812 | +€120,340 | +14.7% |
| Fixed assets | 21/28 | €669,800 | €648,452 | -€21,348 | -3.2% |
| Tangible fixed assets | 22/27 | €669,800 | €648,452 | -€21,348 | -3.2% |
| Land and buildings | 22 | €597,677 | €588,806 | -€8,871 | -1.5% |
| Plant, machinery and equipment | 23 | €17,214 | €11,431 | -€5,783 | -33.6% |
| Furniture and vehicles | 24 | €51,306 | €35,205 | -€16,101 | -31.4% |
| Other tangible fixed assets | 26 | €3,604 | €13,010 | +€9,407 | +261% |
| Current assets | 29/58 | €150,672 | €292,361 | +€141,688 | +94.0% |
| Stocks and contracts in progress | 3 | €40,000 | €0 | -€40,000 | -100% |
| Contracts in progress | 37 | €40,000 | €0 | -€40,000 | -100% |
| Amounts receivable within one year | 40/41 | €64,623 | €150,238 | +€85,615 | +132% |
| Trade receivables | 40 | €50,833 | €33,358 | -€17,475 | -34.4% |
| Other amounts receivable | 41 | €13,790 | €116,880 | +€103,090 | +748% |
| Cash at bank and in hand | 54/58 | €35,956 | €134,472 | +€98,516 | +274% |
| Deferred charges and accrued income | 490/1 | €10,092 | €7,650 | -€2,442 | -24.2% |
| Total equity and liabilities | 10/49 | €820,472 | €940,812 | +€120,340 | +14.7% |
| Equity | 10/15 | €121,623 | €469,454 | +€347,831 | +286% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €120,623 | €468,454 | +€347,831 | +288% |
| Distributable reserves | 133 | €120,623 | €468,454 | +€347,831 | +288% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €698,849 | €471,359 | -€227,491 | -32.6% |
| Amounts payable after more than one year | 17 | €495,180 | €322,984 | -€172,197 | -34.8% |
| Financial debts | 170/4 | €495,180 | €322,984 | -€172,197 | -34.8% |
| Amounts payable within one year | 42/48 | €203,520 | €148,226 | -€55,294 | -27.2% |
| Current portion of amounts payable after more than one year | 42 | €33,927 | €12,427 | -€21,501 | -63.4% |
| Financial debts | 43 | €4,819 | €4,072 | -€747 | -15.5% |
| Credit institutions | 430/8 | €4,819 | €4,072 | -€747 | -15.5% |
| Trade debts | 44 | €16,841 | €15,986 | -€856 | -5.1% |
| Suppliers | 440/4 | €16,841 | €15,986 | -€856 | -5.1% |
| Taxes, remuneration and social security | 45 | €3,150 | €9,742 | +€6,592 | +209% |
| Taxes | 450/3 | €3,150 | €7,332 | +€4,182 | +133% |
| Remuneration and social security | 454/9 | €0 | €2,409 | +€2,409 | |
| Other amounts payable | 47/48 | €144,782 | €106,000 | -€38,782 | -26.8% |
| Accrued charges and deferred income | 492/3 | €149 | €149 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €3,008 | €16,992 | +€13,984 | +465% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,097 | €35,925 | -€40,172 | -52.8% |
| Other operating charges | 640/8 | €5,999 | €10,195 | +€4,195 | +69.9% |
| Gross operating margin | 9900 | €168,057 | €685,540 | +€517,483 | +308% |
| Operating profit (loss) | 9901 | €82,953 | €622,429 | +€539,476 | +650% |
| Financial income | 75/76B | €513 | €2,359 | +€1,846 | +360% |
| Recurring financial income | 75 | €513 | €2,359 | +€1,846 | +360% |
| Financial charges | 65/66B | €16,439 | €22,432 | +€5,993 | +36.5% |
| Recurring financial charges | 65 | €16,439 | €22,432 | +€5,993 | +36.5% |
| Profit (loss) for the period before taxes | 9903 | €67,027 | €602,356 | +€535,329 | +799% |
| Income taxes | 67/77 | €18,145 | €148,525 | +€130,379 | +719% |
| Profit (loss) for the period | 9904 | €48,882 | €453,831 | +€404,949 | +828% |
| Profit (loss) for the period to be appropriated | 9905 | €48,882 | €453,831 | +€404,949 | +828% |
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 16 October 2026 via checked.be.