Piu di Piu: what changed
Piu di Piu
Largest movements
- Cash +€13,445
up €13,445 (+15.1%), from €88,988 to €102,433
mainly Depreciation (+€16,822) and Net result for the year (+€9,535)
- Tangible fixed assets -€12,668
down €12,668 (-11.8%), from €107,213 to €94,545
of which Other tangible fixed assets: -€10,501
- Stocks and contracts +€5,152
up €5,152 (+86.9%), from €5,931 to €11,083
- Debts after one year -€13,681
down €13,681 (-25.6%), from €53,458 to €39,777
- Reserves +€9,535
up €9,535 (+33.2%), from €28,685 to €38,221
- Other debts +€4,777
up €4,777 (+52.0%), from €9,193 to €13,970
- Tax, wage and social debts +€4,279
up €4,279 (+24.7%), from €17,327 to €21,606
of which Taxes: +€4,265
- Gross operating margin -€19,444
down €19,444 (-34.3%), from €56,736 to €37,292
- Taxes -€5,116
down €5,116 (-54.2%), from €9,437 to €4,321
- Depreciation +€849
up €849 (+5.3%), from €15,973 to €16,822
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €209,217 | €213,717 | +€4,501 | +2.2% |
| Fixed assets | 21/28 | €109,599 | €96,207 | -€13,391 | -12.2% |
| Intangible fixed assets | 21 | €2,386 | €1,663 | -€723 | -30.3% |
| Tangible fixed assets | 22/27 | €107,213 | €94,545 | -€12,668 | -11.8% |
| Plant, machinery and equipment | 23 | €10,417 | €6,250 | -€4,167 | -40.0% |
| Furniture and vehicles | 24 | €8,111 | €10,111 | +€2,000 | +24.7% |
| Other tangible fixed assets | 26 | €88,685 | €78,184 | -€10,501 | -11.8% |
| Current assets | 29/58 | €99,618 | €117,510 | +€17,892 | +18.0% |
| Stocks and contracts in progress | 3 | €5,931 | €11,083 | +€5,152 | +86.9% |
| Stocks | 30/36 | €5,931 | €11,083 | +€5,152 | +86.9% |
| Amounts receivable within one year | 40/41 | €3,596 | €2,863 | -€733 | -20.4% |
| Trade receivables | 40 | €2,983 | €2,863 | -€121 | -4.0% |
| Other amounts receivable | 41 | €612 | €0 | -€612 | -100% |
| Cash at bank and in hand | 54/58 | €88,988 | €102,433 | +€13,445 | +15.1% |
| Deferred charges and accrued income | 490/1 | €1,103 | €1,131 | +€28 | +2.5% |
| Total equity and liabilities | 10/49 | €209,217 | €213,717 | +€4,501 | +2.2% |
| Equity | 10/15 | €108,685 | €118,221 | +€9,535 | +8.8% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €28,685 | €38,221 | +€9,535 | +33.2% |
| Distributable reserves | 133 | €28,685 | €38,221 | +€9,535 | +33.2% |
| Amounts payable | 17/49 | €100,531 | €95,497 | -€5,035 | -5.0% |
| Amounts payable after more than one year | 17 | €53,458 | €39,777 | -€13,681 | -25.6% |
| Financial debts | 170/4 | €53,458 | €39,777 | -€13,681 | -25.6% |
| Amounts payable within one year | 42/48 | €47,074 | €55,720 | +€8,646 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €13,283 | €13,681 | +€398 | +3.0% |
| Trade debts | 44 | €7,271 | €6,463 | -€808 | -11.1% |
| Suppliers | 440/4 | €7,271 | €6,463 | -€808 | -11.1% |
| Taxes, remuneration and social security | 45 | €17,327 | €21,606 | +€4,279 | +24.7% |
| Taxes | 450/3 | €15,531 | €19,796 | +€4,265 | +27.5% |
| Remuneration and social security | 454/9 | €1,797 | €1,811 | +€14 | +0.8% |
| Other amounts payable | 47/48 | €9,193 | €13,970 | +€4,777 | +52.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,973 | €16,822 | +€849 | +5.3% |
| Other operating charges | 640/8 | €4,770 | €4,475 | -€295 | -6.2% |
| Gross operating margin | 9900 | €56,736 | €37,292 | -€19,444 | -34.3% |
| Operating profit (loss) | 9901 | €35,992 | €15,995 | -€19,998 | -55.6% |
| Financial income | 75/76B | €1 | €11 | +€9 | +629% |
| Recurring financial income | 75 | €1 | €11 | +€9 | +629% |
| Financial charges | 65/66B | €2,269 | €2,149 | -€120 | -5.3% |
| Recurring financial charges | 65 | €2,269 | €2,149 | -€120 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €33,725 | €13,856 | -€19,868 | -58.9% |
| Income taxes | 67/77 | €9,437 | €4,321 | -€5,116 | -54.2% |
| Profit (loss) for the period | 9904 | €24,287 | €9,535 | -€14,752 | -60.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,287 | €9,535 | -€14,752 | -60.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.