PISCINI: 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.
PISCINI
Largest movements
- Tangible fixed assets -€9,074
down €9,074 (-71.8%), from €12,631 to €3,557
of which Leasing and similar rights: -€9,000
- Stocks and contracts -€8,864
down €8,864 (-21.7%), from €40,845 to €31,981
- Receivables within one year -€5,408
down €5,408 (-4.2%), from €130,079 to €124,671
of which Trade receivables: -€9,893
- Cash -€5,071
down €5,071 (-33.7%), from €15,060 to €9,990
mainly Trade debts (-€7,126) and Tax, wage and social debts (-€6,826)
- Trade debts -€7,126
down €7,126 (-14.3%), from €49,951 to €42,825
- Tax, wage and social debts -€6,826
down €6,826 (-83.0%), from €8,220 to €1,394
of which Taxes: -€6,655
- Profit (loss) carried forward -€6,540
down €6,540 (-5.5%), from €119,678 to €113,139
- Debts after one year -€4,911
no longer reported in 2025 (was €4,911)
- Current portion of long-term debt -€3,015
down €3,015 (-38.0%), from €7,926 to €4,911
- Gross operating margin -€31,289
down €31,289 (-87.2%), from €35,871 to €4,582
- Staff costs -€7,585
down €7,585 (-98.7%), from €7,683 to €99
- Taxes -€4,200
no longer reported in 2025 (was €4,200)
- Depreciation -€789
down €789 (-8.0%), from €9,863 to €9,074
- Financial income +€516
up €516 (+9653.9%), from €5 to €521
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 | €198,746 | €170,329 | -€28,418 | -14.3% |
| Fixed assets | 21/28 | €12,761 | €3,687 | -€9,074 | -71.1% |
| Tangible fixed assets | 22/27 | €12,631 | €3,557 | -€9,074 | -71.8% |
| Furniture and vehicles | 24 | €204 | €130 | -€74 | -36.4% |
| Leasing and similar rights | 25 | €12,427 | €3,427 | -€9,000 | -72.4% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €185,985 | €166,642 | -€19,343 | -10.4% |
| Stocks and contracts in progress | 3 | €40,845 | €31,981 | -€8,864 | -21.7% |
| Stocks | 30/36 | €40,845 | €31,981 | -€8,864 | -21.7% |
| Amounts receivable within one year | 40/41 | €130,079 | €124,671 | -€5,408 | -4.2% |
| Trade receivables | 40 | €25,490 | €15,597 | -€9,893 | -38.8% |
| Other amounts receivable | 41 | €104,589 | €109,074 | +€4,485 | +4.3% |
| Cash at bank and in hand | 54/58 | €15,060 | €9,990 | -€5,071 | -33.7% |
| Total equity and liabilities | 10/49 | €198,746 | €170,329 | -€28,418 | -14.3% |
| Equity | 10/15 | €127,738 | €121,199 | -€6,540 | -5.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,678 | €113,139 | -€6,540 | -5.5% |
| Amounts payable | 17/49 | €71,008 | €49,130 | -€21,878 | -30.8% |
| Amounts payable after more than one year | 17 | €4,911 | - | -€4,911 | |
| Financial debts | 170/4 | €4,911 | - | -€4,911 | |
| Amounts payable within one year | 42/48 | €66,096 | €49,130 | -€16,966 | -25.7% |
| Current portion of amounts payable after more than one year | 42 | €7,926 | €4,911 | -€3,015 | -38.0% |
| Trade debts | 44 | €49,951 | €42,825 | -€7,126 | -14.3% |
| Suppliers | 440/4 | €49,951 | €42,825 | -€7,126 | -14.3% |
| Taxes, remuneration and social security | 45 | €8,220 | €1,394 | -€6,826 | -83.0% |
| Taxes | 450/3 | €8,049 | €1,394 | -€6,655 | -82.7% |
| Remuneration and social security | 454/9 | €170 | - | -€170 | |
| Remuneration, social security and pensions | 62 | €7,683 | €99 | -€7,585 | -98.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,863 | €9,074 | -€789 | -8.0% |
| Other operating charges | 640/8 | €2,025 | €1,832 | -€192 | -9.5% |
| Gross operating margin | 9900 | €35,871 | €4,582 | -€31,289 | -87.2% |
| Operating profit (loss) | 9901 | €16,300 | -€6,423 | -€22,723 | |
| Financial income | 75/76B | €5 | €521 | +€516 | +9653.9% |
| Recurring financial income | 75 | €5 | €521 | +€516 | +9653.9% |
| Financial charges | 65/66B | €913 | €637 | -€276 | -30.2% |
| Recurring financial charges | 65 | €913 | €637 | -€276 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | €15,392 | -€6,540 | -€21,932 | |
| Income taxes | 67/77 | €4,200 | - | -€4,200 | |
| Profit (loss) for the period | 9904 | €11,192 | -€6,540 | -€17,732 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,192 | -€6,540 | -€17,732 |
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 1 October 2026 via checked.be.