PIPENPOY: 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.
PIPENPOY
Largest movements
- Current investments -€45,261
down €45,261 (-43.8%), from €103,360 to €58,099
- Stocks and contracts +€14,324
up €14,324 (+1.7%), from €821,196 to €835,520
of which Stocks: +€18,046
- Receivables within one year +€13,270
up €13,270 (+164%), from €8,116 to €21,386
of which Other amounts receivable: +€11,508
- Short-term financial debts -€20,000
down €20,000 (-2.6%), from €760,000 to €740,000
of which Other loans: -€20,000
- Gross operating margin -€42,131
down €42,131, from €41,058 to -€1,073
- Financial income +€7,067
up €7,067 (+41.1%), from €17,200 to €24,267
of which Financial income: +€7,067
- Financial charges -€5,784
down €5,784 (-40.2%), from €14,386 to €8,602
of which Financial charges: -€6,264
- Other operating charges -€3,383
down €3,383 (-38.0%), from €8,905 to €5,522
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 | €936,469 | €920,771 | -€15,698 | -1.7% |
| Fixed assets | 21/28 | €1,000 | €670 | -€330 | -33.0% |
| Tangible fixed assets | 22/27 | €1,000 | €670 | -€330 | -33.0% |
| Plant, machinery and equipment | 23 | €1,000 | €670 | -€330 | -33.0% |
| Current assets | 29/58 | €935,469 | €920,101 | -€15,368 | -1.6% |
| Stocks and contracts in progress | 3 | €821,196 | €835,520 | +€14,324 | +1.7% |
| Stocks | 30/36 | €817,474 | €835,520 | +€18,046 | +2.2% |
| Contracts in progress | 37 | €3,722 | - | -€3,722 | |
| Amounts receivable within one year | 40/41 | €8,116 | €21,386 | +€13,270 | +164% |
| Trade receivables | 40 | €1,922 | €3,684 | +€1,762 | +91.7% |
| Other amounts receivable | 41 | €6,194 | €17,702 | +€11,508 | +186% |
| Current investments | 50/53 | €103,360 | €58,099 | -€45,261 | -43.8% |
| Cash at bank and in hand | 54/58 | €2,797 | €5,096 | +€2,299 | +82.2% |
| Total equity and liabilities | 10/49 | €936,469 | €920,771 | -€15,698 | -1.7% |
| Equity | 10/15 | €148,430 | €157,500 | +€9,070 | +6.1% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €125,000 | €125,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€226,570 | -€217,500 | +€9,070 | +4.0% |
| Provisions and deferred taxes | 16 | €20,000 | €20,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €20,000 | €20,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable | 17/49 | €768,039 | €743,271 | -€24,768 | -3.2% |
| Amounts payable within one year | 42/48 | €768,039 | €743,271 | -€24,768 | -3.2% |
| Financial debts | 43 | €760,000 | €740,000 | -€20,000 | -2.6% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €760,000 | €740,000 | -€20,000 | -2.6% |
| Trade debts | 44 | €6,734 | €2,939 | -€3,795 | -56.4% |
| Suppliers | 440/4 | €6,734 | €2,939 | -€3,795 | -56.4% |
| Taxes, remuneration and social security | 45 | €163 | €332 | +€169 | +104% |
| Taxes | 450/3 | €163 | €332 | +€169 | +104% |
| Other amounts payable | 47/48 | €1,142 | - | -€1,142 | |
| Other operating charges | 640/8 | €8,905 | €5,522 | -€3,383 | -38.0% |
| Gross operating margin | 9900 | €41,058 | -€1,073 | -€42,131 | |
| Operating profit (loss) | 9901 | €32,153 | -€6,595 | -€38,748 | |
| Financial income | 75/76B | €17,200 | €24,267 | +€7,067 | +41.1% |
| Recurring financial income | 75 | €17,200 | €24,267 | +€7,067 | +41.1% |
| Non-recurring financial income | 76B | €17,200 | €24,267 | +€7,067 | +41.1% |
| Financial charges | 65/66B | €14,386 | €8,602 | -€5,784 | -40.2% |
| Recurring financial charges | 65 | €13,847 | €7,583 | -€6,264 | -45.2% |
| Non-recurring financial charges | 66B | €539 | €1,019 | +€480 | +89.1% |
| Profit (loss) for the period before taxes | 9903 | €34,967 | €9,070 | -€25,897 | -74.1% |
| Profit (loss) for the period | 9904 | €34,967 | €9,070 | -€25,897 | -74.1% |
| Profit (loss) for the period to be appropriated | 9905 | €34,967 | €9,070 | -€25,897 | -74.1% |
Source: filed annual accounts (NBB), financial years ended 9 January 2025 and 9 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.