PIPING LOGISTICS: 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.
What changed
PIPING LOGISTICS
NACE 46.842, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.0m
2024 · €710,295+€1.2m
Equity
€4.5m
2024 · €3.8m+€692,667
Cash
€475,498
2024 · €379,535+€95,963
Balance sheet total
€14.9m
2024 · €11.9m+€3.0m
Largest movements
Assets
- Financial fixed assets +€1.5m
up €1.5m, from €0 to €1.5m
of which Affiliated companies: +€1.5m
- Receivables after one year +€800,000
up €800,000 (+42.3%), from €1.9m to €2.7m
- Receivables within one year +€653,603
up €653,603 (+13.8%), from €4.8m to €5.4m
of which Trade receivables: +€807,278
- Stocks and contracts -€302,035
down €302,035 (-7.0%), from €4.3m to €4.0m
- Deferred charges and accrued income +€249,498
up €249,498 (+94.6%), from €263,609 to €513,107
Equity and liabilities
- Other debts +€2.5m
up €2.5m (+294%), from €867,630 to €3.4m
- Profit (loss) carried forward +€692,667
up €692,667 (+18.2%), from €3.8m to €4.5m
- Trade debts -€587,055
down €587,055 (-38.5%), from €1.5m to €938,799
- Short-term financial debts +€495,085
up €495,085 (+13.2%), from €3.7m to €4.2m
- Debts after one year -€279,714
down €279,714 (-19.4%), from €1.4m to €1.2m
of which Financial debts: -€285,714
Income statement
- Turnover +€4.7m
up €4.7m (+29.3%), from €16.1m to €20.8m
- Goods and materials +€3.3m
up €3.3m (+34.7%), from €9.5m to €12.9m
of which Purchases: +€2.3m
- Services and other goods +€852,204
up €852,204 (+27.3%), from €3.1m to €4.0m
- Provisions +€346,637
up €346,637, from -€290,000 to €56,637
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.
Result 2024
€710,295
Turnover
+€4.7m
Other operating income
+€81,701
Goods and materials
-€3.3m
Services and other goods
-€852,204
Staff costs
-€137,416
Depreciation
-€17,533
Write-downs
+€46,538
Provisions
-€346,637
Other operating charges
-€11,207
Other operating items
+€1.3m
Financial income
-€60,050
Financial charges
-€141,110
Taxes
-€19,838
Result 2025
€2.0m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.7m
Investment
-€1.6m
Financing
-€1.0m
Cash 2024
€379,535
From operations (derived)
+€2.7m
Net result for the year
+€2.0m
Depreciation
+€71,794
Receivables after one year
-€800,000
Stocks and contracts
+€302,035
Receivables within one year
-€653,603
Deferred charges and accrued income
-€249,498
Provisions
+€56,637
Trade debts
-€587,055
Tax, wage and social debts
+€14,794
Other debts
+€2.5m
Accrued charges and deferred income
+€57,774
Investment (derived)
-€1.6m
Investment in fixed assets (net)
-€1.6m
Financing
-€1.0m
Debts after one year
-€279,714
Short-term financial debts
+€495,085
Contributions, distributions and other
-€1.3m
Cash 2025
€475,498
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,873,279 | €14,872,294 | +€3.0m | +25.3% |
| Fixed assets | 21/28 | €261,951 | €1,763,937 | +€1.5m | +573% |
| Intangible fixed assets | 21 | €17,430 | €10,020 | -€7,410 | -42.5% |
| Tangible fixed assets | 22/27 | €244,521 | €253,917 | +€9,396 | +3.8% |
| Plant, machinery and equipment | 23 | €175,648 | €182,614 | +€6,965 | +4.0% |
| Furniture and vehicles | 24 | €68,873 | €71,303 | +€2,430 | +3.5% |
| Financial fixed assets | 28 | €0 | €1,500,000 | +€1.5m | |
| Affiliated companies | 280/1 | - | €1,500,000 | +€1.5m | |
| Participating interests | 280 | - | €1,400,000 | +€1.4m | |
| Amounts receivable | 281 | - | €100,000 | +€100,000 | |
| Other financial fixed assets | 284/8 | €0 | - | = | |
| Amounts receivable and cash guarantees | 285/8 | €0 | - | = | |
| Current assets | 29/58 | €11,611,328 | €13,108,356 | +€1.5m | +12.9% |
| Amounts receivable after more than one year | 29 | €1,890,000 | €2,690,000 | +€800,000 | +42.3% |
| Other amounts receivable | 291 | €1,890,000 | €2,690,000 | +€800,000 | +42.3% |
| Stocks and contracts in progress | 3 | €4,326,045 | €4,024,010 | -€302,035 | -7.0% |
| Stocks | 30/36 | €4,326,045 | €4,024,010 | -€302,035 | -7.0% |
| Goods purchased for resale | 34 | €4,326,045 | €4,024,010 | -€302,035 | -7.0% |
| Amounts receivable within one year | 40/41 | €4,752,139 | €5,405,742 | +€653,603 | +13.8% |
| Trade receivables | 40 | €4,532,728 | €5,340,006 | +€807,278 | +17.8% |
| Other amounts receivable | 41 | €219,411 | €65,736 | -€153,675 | -70.0% |
| Cash at bank and in hand | 54/58 | €379,535 | €475,498 | +€95,963 | +25.3% |
| Deferred charges and accrued income | 490/1 | €263,609 | €513,107 | +€249,498 | +94.6% |
| Total equity and liabilities | 10/49 | €11,873,279 | €14,872,294 | +€3.0m | +25.3% |
| Equity | 10/15 | €3,831,964 | €4,524,631 | +€692,667 | +18.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,851 | €1,851 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,851 | €1,851 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,851 | €1,851 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,811,513 | €4,504,180 | +€692,667 | +18.2% |
| Provisions and deferred taxes | 16 | €0 | €56,637 | +€56,637 | |
| Provisions for liabilities and charges | 160/5 | €0 | €56,637 | +€56,637 | |
| Other liabilities and charges | 164/5 | €0 | €56,637 | +€56,637 | |
| Amounts payable | 17/49 | €8,041,315 | €10,291,025 | +€2.2m | +28.0% |
| Amounts payable after more than one year | 17 | €1,439,072 | €1,159,357 | -€279,714 | -19.4% |
| Financial debts | 170/4 | €1,428,572 | €1,142,857 | -€285,714 | -20.0% |
| Credit institutions | 173 | €1,428,572 | €1,142,857 | -€285,714 | -20.0% |
| Other amounts payable | 178/9 | €10,500 | €16,500 | +€6,000 | +57.1% |
| Amounts payable within one year | 42/48 | €6,542,894 | €9,014,544 | +€2.5m | +37.8% |
| Current portion of amounts payable after more than one year | 42 | €285,714 | €285,714 | = | 0.0% |
| Financial debts | 43 | €3,747,307 | €4,242,392 | +€495,085 | +13.2% |
| Credit institutions | 430/8 | €3,747,307 | €4,242,392 | +€495,085 | +13.2% |
| Trade debts | 44 | €1,525,854 | €938,799 | -€587,055 | -38.5% |
| Suppliers | 440/4 | €1,525,854 | €938,799 | -€587,055 | -38.5% |
| Taxes, remuneration and social security | 45 | €116,388 | €131,182 | +€14,794 | +12.7% |
| Taxes | 450/3 | - | €336 | +€336 | |
| Remuneration and social security | 454/9 | €116,388 | €130,845 | +€14,458 | +12.4% |
| Other amounts payable | 47/48 | €867,630 | €3,416,457 | +€2.5m | +294% |
| Accrued charges and deferred income | 492/3 | €59,350 | €117,124 | +€57,774 | +97.3% |
| Operating income | 70/76A | €16,231,300 | €21,001,984 | +€4.8m | +29.4% |
| Turnover | 70 | €16,070,466 | €20,773,940 | +€4.7m | +29.3% |
| Other operating income | 74 | €146,343 | €228,044 | +€81,701 | +55.8% |
| Non-recurring operating income | 76A | €14,492 | €0 | -€14,492 | -100% |
| Operating charges | 60/66A | €15,000,655 | €18,310,469 | +€3.3m | +22.1% |
| Goods for resale, raw materials and consumables | 60 | €9,544,970 | €12,860,410 | +€3.3m | +34.7% |
| Purchases | 600/8 | €10,229,574 | €12,558,375 | +€2.3m | +22.8% |
| Change in stocks: decrease (increase) | 609 | -€684,604 | €302,035 | +€986,639 | |
| Services and other goods | 61 | €3,117,605 | €3,969,810 | +€852,204 | +27.3% |
| Remuneration, social security and pensions | 62 | €1,190,636 | €1,328,052 | +€137,416 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,262 | €71,794 | +€17,533 | +32.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €29,288 | -€17,251 | -€46,538 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€290,000 | €56,637 | +€346,637 | |
| Other operating charges | 640/8 | €15,073 | €26,280 | +€11,207 | +74.4% |
| Non-recurring operating charges | 66A | €1,338,822 | €14,736 | -€1.3m | -98.9% |
| Operating profit (loss) | 9901 | €1,230,645 | €2,691,515 | +€1.5m | +119% |
| Financial income | 75/76B | €208,410 | €148,360 | -€60,050 | -28.8% |
| Recurring financial income | 75 | €208,410 | €148,360 | -€60,050 | -28.8% |
| Income from current assets | 751 | €81,926 | €68,099 | -€13,827 | -16.9% |
| Other financial income | 752/9 | €126,484 | €80,261 | -€46,223 | -36.5% |
| Financial charges | 65/66B | €499,179 | €640,289 | +€141,110 | +28.3% |
| Recurring financial charges | 65 | €499,179 | €640,289 | +€141,110 | +28.3% |
| Debt charges | 650 | €353,595 | €327,242 | -€26,353 | -7.5% |
| Other financial charges | 652/9 | €145,584 | €313,047 | +€167,463 | +115% |
| Profit (loss) for the period before taxes | 9903 | €939,876 | €2,199,586 | +€1.3m | +134% |
| Income taxes | 67/77 | €229,581 | €249,418 | +€19,838 | +8.6% |
| Taxes | 670/3 | €229,581 | €249,418 | +€19,838 | +8.6% |
| Profit (loss) for the period | 9904 | €710,295 | €1,950,167 | +€1.2m | +175% |
| Profit (loss) for the period to be appropriated | 9905 | €710,295 | €1,950,167 | +€1.2m | +175% |
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 22 October 2026 via checked.be.