PIÙ: 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.
PIÙ
Largest movements
- Receivables within one year -€48,570
down €48,570 (-97.8%), from €49,650 to €1,080
of which Trade receivables: -€46,354
- Stocks and contracts -€7,770
down €7,770 (-100%), from €7,770 to €0
- Deferred charges and accrued income -€3,055
down €3,055 (-88.1%), from €3,468 to €413
- Cash -€776
down €776 (-33.3%), from €2,329 to €1,554
mainly Trade debts (-€52,429) and Net result for the year (-€15,462)
- Trade debts -€52,429
down €52,429 (-100%), from €52,429 to €0
- Profit (loss) carried forward -€15,462
down €15,462 (-2.3%), from -€664,086 to -€679,547
- Other debts +€8,598
up €8,598 (+18.1%), from €47,500 to €56,099
- Advances received -€1,814
down €1,814 (-78.4%), from €2,314 to €500
- Accrued charges and deferred income +€924
new in 2025: €924
- Gross operating margin +€473,437
up €473,437 (+97.4%), from -€485,967 to -€12,530
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 | €63,217 | €3,047 | -€60,170 | -95.2% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €63,217 | €3,047 | -€60,170 | -95.2% |
| Stocks and contracts in progress | 3 | €7,770 | €0 | -€7,770 | -100% |
| Stocks | 30/36 | €7,770 | €0 | -€7,770 | -100% |
| Amounts receivable within one year | 40/41 | €49,650 | €1,080 | -€48,570 | -97.8% |
| Trade receivables | 40 | €47,434 | €1,080 | -€46,354 | -97.7% |
| Other amounts receivable | 41 | €2,216 | €0 | -€2,216 | -100% |
| Cash at bank and in hand | 54/58 | €2,329 | €1,554 | -€776 | -33.3% |
| Deferred charges and accrued income | 490/1 | €3,468 | €413 | -€3,055 | -88.1% |
| Total equity and liabilities | 10/49 | €63,217 | €3,047 | -€60,170 | -95.2% |
| Equity | 10/15 | -€439,026 | -€454,487 | -€15,462 | -3.5% |
| Contributions | 10/11 | €204,600 | €204,600 | = | 0.0% |
| Reserves | 13 | €20,460 | €20,460 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,460 | €20,460 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€664,086 | -€679,547 | -€15,462 | -2.3% |
| Amounts payable | 17/49 | €502,243 | €457,535 | -€44,708 | -8.9% |
| Amounts payable after more than one year | 17 | €400,000 | €400,000 | = | 0.0% |
| Financial debts | 170/4 | €400,000 | €400,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €102,243 | €56,611 | -€45,632 | -44.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €52,429 | €0 | -€52,429 | -100% |
| Suppliers | 440/4 | €52,429 | €0 | -€52,429 | -100% |
| Advances received on contracts in progress | 46 | €2,314 | €500 | -€1,814 | -78.4% |
| Taxes, remuneration and social security | 45 | €0 | €12 | +€12 | |
| Taxes | 450/3 | €0 | €12 | +€12 | |
| Other amounts payable | 47/48 | €47,500 | €56,099 | +€8,598 | +18.1% |
| Accrued charges and deferred income | 492/3 | - | €924 | +€924 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,259 | €1,274 | +€15 | +1.2% |
| Gross operating margin | 9900 | -€485,967 | -€12,530 | +€473,437 | +97.4% |
| Operating profit (loss) | 9901 | -€487,226 | -€13,804 | +€473,423 | +97.2% |
| Financial income | 75/76B | €65 | €0 | -€65 | -100% |
| Recurring financial income | 75 | €65 | €0 | -€65 | -100% |
| Financial charges | 65/66B | €3,664 | €1,658 | -€2,006 | -54.8% |
| Recurring financial charges | 65 | €3,664 | €1,658 | -€2,006 | -54.8% |
| Profit (loss) for the period before taxes | 9903 | -€490,825 | -€15,462 | +€475,363 | +96.8% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€490,825 | -€15,462 | +€475,363 | +96.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€490,825 | -€15,462 | +€475,363 | +96.8% |
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.