Pipster & Co: 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.
Pipster & Co
Largest movements
- Tangible fixed assets +€93,048
up €93,048 (+375%), from €24,792 to €117,839
of which Land and buildings: +€97,527
- Cash -€2,573
down €2,573 (-64.0%), from €4,021 to €1,448
mainly Investment in fixed assets (net) (-€102,884) and Net result for the year (-€96,565)
- Other debts +€187,418
up €187,418 (+108%), from €173,897 to €361,315
- Profit (loss) carried forward -€94,946
down €94,946 (-60.7%), from -€156,320 to -€251,266
- Short-term financial debts -€7,409
down €7,409 (-100%), from €7,409 to €0
- Trade debts +€3,859
up €3,859 (+141%), from €2,738 to €6,597
- Tax, wage and social debts +€1,504
up €1,504 (+60.3%), from €2,493 to €3,998
- Gross operating margin -€44,805
down €44,805 (-111%), from -€40,514 to -€85,318
- Depreciation +€5,668
up €5,668 (+136%), from €4,168 to €9,836
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 | €35,217 | €125,644 | +€90,427 | +257% |
| Fixed assets | 21/28 | €24,792 | €117,839 | +€93,048 | +375% |
| Tangible fixed assets | 22/27 | €24,792 | €117,839 | +€93,048 | +375% |
| Land and buildings | 22 | - | €97,527 | +€97,527 | |
| Furniture and vehicles | 24 | €14,060 | €12,705 | -€1,355 | -9.6% |
| Other tangible fixed assets | 26 | €10,731 | €7,607 | -€3,124 | -29.1% |
| Current assets | 29/58 | €10,425 | €7,805 | -€2,621 | -25.1% |
| Amounts receivable within one year | 40/41 | €6,404 | €6,356 | -€48 | -0.7% |
| Trade receivables | 40 | €691 | €0 | -€691 | -100% |
| Other amounts receivable | 41 | €5,713 | €6,356 | +€644 | +11.3% |
| Current investments | 50/53 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,021 | €1,448 | -€2,573 | -64.0% |
| Total equity and liabilities | 10/49 | €35,217 | €125,644 | +€90,427 | +257% |
| Equity | 10/15 | -€151,320 | -€246,266 | -€94,946 | -62.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€156,320 | -€251,266 | -€94,946 | -60.7% |
| Amounts payable | 17/49 | €186,537 | €371,910 | +€185,373 | +99.4% |
| Amounts payable within one year | 42/48 | €186,537 | €371,910 | +€185,373 | +99.4% |
| Financial debts | 43 | €7,409 | €0 | -€7,409 | -100% |
| Credit institutions | 430/8 | €7,409 | €0 | -€7,409 | -100% |
| Trade debts | 44 | €2,738 | €6,597 | +€3,859 | +141% |
| Suppliers | 440/4 | €2,738 | €6,597 | +€3,859 | +141% |
| Taxes, remuneration and social security | 45 | €2,493 | €3,998 | +€1,504 | +60.3% |
| Taxes | 450/3 | €2,493 | €3,998 | +€1,504 | +60.3% |
| Other amounts payable | 47/48 | €173,897 | €361,315 | +€187,418 | +108% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,168 | €9,836 | +€5,668 | +136% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €118 | €686 | +€568 | +481% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€40,514 | -€85,318 | -€44,805 | -111% |
| Operating profit (loss) | 9901 | -€44,800 | -€95,841 | -€51,041 | -114% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €106 | €54 | -€52 | -49.3% |
| Recurring financial charges | 65 | €106 | €54 | -€52 | -49.3% |
| Profit (loss) for the period before taxes | 9903 | -€44,905 | -€95,894 | -€50,989 | -114% |
| Income taxes | 67/77 | €526 | €670 | +€144 | +27.4% |
| Profit (loss) for the period | 9904 | -€45,431 | -€96,565 | -€51,133 | -113% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,431 | -€96,565 | -€51,133 | -113% |
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.