PITTI: 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.
PITTI
Largest movements
- Tangible fixed assets -€10,274
down €10,274 (-19.1%), from €53,751 to €43,476
- Reserves +€26,955
up €26,955 (+27.8%), from €96,885 to €123,840
- Debts after one year -€15,584
down €15,584 (-8.0%), from €195,069 to €179,486
- Current portion of long-term debt -€12,740
down €12,740 (-39.6%), from €32,148 to €19,408
- Other debts -€9,051
down €9,051 (-4.8%), from €188,822 to €179,770
- Gross operating margin -€14,083
down €14,083 (-23.6%), from €59,566 to €45,483
- Taxes -€3,303
down €3,303 (-22.4%), from €14,716 to €11,412
- Depreciation +€3,081
up €3,081 (+26.3%), from €11,721 to €14,802
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 | €520,363 | €508,815 | -€11,548 | -2.2% |
| Fixed assets | 21/28 | €53,776 | €43,501 | -€10,274 | -19.1% |
| Tangible fixed assets | 22/27 | €53,751 | €43,476 | -€10,274 | -19.1% |
| Furniture and vehicles | 24 | €53,751 | €43,476 | -€10,274 | -19.1% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €466,588 | €465,314 | -€1,274 | -0.3% |
| Amounts receivable within one year | 40/41 | €430,646 | €426,768 | -€3,878 | -0.9% |
| Trade receivables | 40 | €15,581 | €16,940 | +€1,359 | +8.7% |
| Other amounts receivable | 41 | €415,065 | €409,828 | -€5,237 | -1.3% |
| Cash at bank and in hand | 54/58 | €32,449 | €37,043 | +€4,594 | +14.2% |
| Deferred charges and accrued income | 490/1 | €3,492 | €1,503 | -€1,989 | -57.0% |
| Total equity and liabilities | 10/49 | €520,363 | €508,815 | -€11,548 | -2.2% |
| Equity | 10/15 | €91,702 | €118,659 | +€26,957 | +29.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €96,885 | €123,840 | +€26,955 | +27.8% |
| Distributable reserves | 133 | €96,885 | €123,840 | +€26,955 | +27.8% |
| Profit (loss) carried forward | 14 | -€23,783 | -€23,781 | +€2 | 0.0% |
| Amounts payable | 17/49 | €428,661 | €390,156 | -€38,505 | -9.0% |
| Amounts payable after more than one year | 17 | €195,069 | €179,486 | -€15,584 | -8.0% |
| Financial debts | 170/4 | €195,069 | €179,486 | -€15,584 | -8.0% |
| Amounts payable within one year | 42/48 | €233,592 | €210,670 | -€22,922 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €32,148 | €19,408 | -€12,740 | -39.6% |
| Trade debts | 44 | €3,021 | €1,349 | -€1,672 | -55.3% |
| Suppliers | 440/4 | €3,021 | €1,349 | -€1,672 | -55.3% |
| Taxes, remuneration and social security | 45 | €9,601 | €10,142 | +€541 | +5.6% |
| Taxes | 450/3 | €9,601 | €10,142 | +€541 | +5.6% |
| Other amounts payable | 47/48 | €188,822 | €179,770 | -€9,051 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,721 | €14,802 | +€3,081 | +26.3% |
| Other operating charges | 640/8 | €868 | €544 | -€324 | -37.3% |
| Gross operating margin | 9900 | €59,566 | €45,483 | -€14,083 | -23.6% |
| Operating profit (loss) | 9901 | €46,977 | €30,138 | -€16,840 | -35.8% |
| Financial income | 75/76B | €15,001 | €14,814 | -€188 | -1.2% |
| Recurring financial income | 75 | €15,001 | €14,814 | -€188 | -1.2% |
| Financial charges | 65/66B | €5,778 | €5,749 | -€30 | -0.5% |
| Recurring financial charges | 65 | €5,778 | €5,749 | -€30 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €56,200 | €39,203 | -€16,998 | -30.2% |
| Income taxes | 67/77 | €14,716 | €11,412 | -€3,303 | -22.4% |
| Profit (loss) for the period | 9904 | €41,485 | €27,790 | -€13,695 | -33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €41,485 | €27,790 | -€13,695 | -33.0% |
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 5 October 2026 via checked.be.