PITECO: 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.
PITECO
Largest movements
- Cash -€156,197
down €156,197 (-82.7%), from €188,974 to €32,778
mainly Debts after one year (-€268,015) and Receivables within one year (-€100,800)
- Receivables within one year +€100,800
up €100,800 (+12,600%), from €800 to €101,600
of which Other amounts receivable: +€100,800
- Financial fixed assets +€45,544
up €45,544 (+2.0%), from €2.2m to €2.3m
- Debts after one year -€268,015
down €268,015 (-17.0%), from €1.6m to €1.3m
- Profit (loss) carried forward +€186,114
up €186,114 (+84.1%), from €221,209 to €407,323
- Other debts +€60,544
up €60,544, from €0 to €60,544
- Financial income -€97,333
down €97,333 (-32.2%), from €302,667 to €205,333
- Financial charges -€17,991
down €17,991 (-18.8%), from €95,538 to €77,547
- Gross operating margin -€15,364
down €15,364 (-17.1%), from €89,690 to €74,326
- Depreciation -€1,104
down €1,104 (-100%), from €1,104 to €0
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 | €2,417,506 | €2,407,654 | -€9,853 | -0.4% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €2,227,732 | €2,273,276 | +€45,544 | +2.0% |
| Financial fixed assets | 28 | €2,227,732 | €2,273,276 | +€45,544 | +2.0% |
| Current assets | 29/58 | €189,774 | €134,378 | -€55,397 | -29.2% |
| Amounts receivable within one year | 40/41 | €800 | €101,600 | +€100,800 | +12,600% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €800 | €101,600 | +€100,800 | +12,600% |
| Cash at bank and in hand | 54/58 | €188,974 | €32,778 | -€156,197 | -82.7% |
| Total equity and liabilities | 10/49 | €2,417,506 | €2,407,654 | -€9,853 | -0.4% |
| Equity | 10/15 | €571,209 | €757,323 | +€186,114 | +32.6% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €221,209 | €407,323 | +€186,114 | +84.1% |
| Amounts payable | 17/49 | €1,846,297 | €1,650,331 | -€195,966 | -10.6% |
| Amounts payable after more than one year | 17 | €1,579,191 | €1,311,176 | -€268,015 | -17.0% |
| Financial debts | 170/4 | €1,579,191 | €1,311,176 | -€268,015 | -17.0% |
| Amounts payable within one year | 42/48 | €260,921 | €332,838 | +€71,917 | +27.6% |
| Current portion of amounts payable after more than one year | 42 | €256,251 | €268,015 | +€11,764 | +4.6% |
| Trade debts | 44 | €1,086 | €1,369 | +€283 | +26.0% |
| Suppliers | 440/4 | €1,086 | €1,369 | +€283 | +26.0% |
| Taxes, remuneration and social security | 45 | €3,583 | €2,910 | -€673 | -18.8% |
| Taxes | 450/3 | €3,583 | €2,910 | -€673 | -18.8% |
| Other amounts payable | 47/48 | €0 | €60,544 | +€60,544 | |
| Accrued charges and deferred income | 492/3 | €6,185 | €6,316 | +€131 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,104 | €0 | -€1,104 | -100% |
| Other operating charges | 640/8 | €387 | €998 | +€611 | +158% |
| Gross operating margin | 9900 | €89,690 | €74,326 | -€15,364 | -17.1% |
| Operating profit (loss) | 9901 | €88,198 | €73,327 | -€14,871 | -16.9% |
| Financial income | 75/76B | €302,667 | €205,333 | -€97,333 | -32.2% |
| Recurring financial income | 75 | €302,667 | €205,333 | -€97,333 | -32.2% |
| Financial charges | 65/66B | €95,538 | €77,547 | -€17,991 | -18.8% |
| Recurring financial charges | 65 | €95,538 | €77,547 | -€17,991 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €295,327 | €201,114 | -€94,213 | -31.9% |
| Profit (loss) for the period | 9904 | €295,327 | €201,114 | -€94,213 | -31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €295,327 | €201,114 | -€94,213 | -31.9% |
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 17 October 2026 via checked.be.