PIVA: 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.
PIVA
Largest movements
- Cash -€54,971
down €54,971 (-21.2%), from €259,671 to €204,700
mainly Contributions, distributions and other (-€69,336) and Tax, wage and social debts (-€22,161)
- Tangible fixed assets -€26,784
down €26,784 (-13.8%), from €193,746 to €166,961
of which Land and buildings: -€18,985
- Reserves -€50,147
down €50,147 (-15.7%), from €318,430 to €268,283
of which Distributable reserves: -€50,147
- Tax, wage and social debts -€22,161
down €22,161 (-51.7%), from €42,886 to €20,725
of which Taxes: -€27,916
- Trade debts -€6,385
down €6,385 (-52.8%), from €12,103 to €5,718
- Gross operating margin -€121,480
down €121,480 (-60.4%), from €201,261 to €79,781
- Taxes -€37,969
down €37,969 (-74.3%), from €51,112 to €13,143
- Other operating charges +€12,900
up €12,900 (+233.9%), from €5,515 to €18,414
- Depreciation -€8,988
down €8,988 (-25.1%), from €35,773 to €26,784
- Financial income +€3,503
up €3,503 (+1529.5%), from €229 to €3,732
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 | €491,220 | €411,492 | -€79,728 | -16.2% |
| Fixed assets | 21/28 | €193,746 | €166,961 | -€26,784 | -13.8% |
| Tangible fixed assets | 22/27 | €193,746 | €166,961 | -€26,784 | -13.8% |
| Land and buildings | 22 | €163,198 | €144,213 | -€18,985 | -11.6% |
| Furniture and vehicles | 24 | €30,548 | €22,748 | -€7,799 | -25.5% |
| Current assets | 29/58 | €297,474 | €244,530 | -€52,944 | -17.8% |
| Amounts receivable within one year | 40/41 | €33,304 | €35,427 | +€2,123 | +6.4% |
| Trade receivables | 40 | €33,304 | €20,570 | -€12,734 | -38.2% |
| Other amounts receivable | 41 | - | €14,857 | +€14,857 | |
| Cash at bank and in hand | 54/58 | €259,671 | €204,700 | -€54,971 | -21.2% |
| Deferred charges and accrued income | 490/1 | €4,499 | €4,403 | -€95 | -2.1% |
| Total equity and liabilities | 10/49 | €491,220 | €411,492 | -€79,728 | -16.2% |
| Equity | 10/15 | €380,430 | €330,283 | -€50,147 | -13.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €318,430 | €268,283 | -€50,147 | -15.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €312,230 | €262,083 | -€50,147 | -16.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €110,790 | €81,209 | -€29,581 | -26.7% |
| Amounts payable after more than one year | 17 | €53,731 | €53,731 | = | 0.0% |
| Other amounts payable | 178/9 | €53,731 | €53,731 | = | 0.0% |
| Amounts payable within one year | 42/48 | €57,059 | €27,478 | -€29,581 | -51.8% |
| Trade debts | 44 | €12,103 | €5,718 | -€6,385 | -52.8% |
| Suppliers | 440/4 | €12,103 | €5,718 | -€6,385 | -52.8% |
| Taxes, remuneration and social security | 45 | €42,886 | €20,725 | -€22,161 | -51.7% |
| Taxes | 450/3 | €42,886 | €14,970 | -€27,916 | -65.1% |
| Remuneration and social security | 454/9 | €0 | €5,756 | +€5,756 | |
| Other amounts payable | 47/48 | €2,070 | €1,035 | -€1,035 | -50.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,773 | €26,784 | -€8,988 | -25.1% |
| Other operating charges | 640/8 | €5,515 | €18,414 | +€12,900 | +233.9% |
| Gross operating margin | 9900 | €201,261 | €79,781 | -€121,480 | -60.4% |
| Operating profit (loss) | 9901 | €159,974 | €34,583 | -€125,391 | -78.4% |
| Financial income | 75/76B | €229 | €3,732 | +€3,503 | +1529.5% |
| Recurring financial income | 75 | €229 | €3,732 | +€3,503 | +1529.5% |
| Financial charges | 65/66B | €6,003 | €5,983 | -€20 | -0.3% |
| Recurring financial charges | 65 | €6,003 | €5,983 | -€20 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €154,200 | €32,331 | -€121,868 | -79.0% |
| Income taxes | 67/77 | €51,112 | €13,143 | -€37,969 | -74.3% |
| Profit (loss) for the period | 9904 | €103,087 | €19,188 | -€83,899 | -81.4% |
| Profit (loss) for the period to be appropriated | 9905 | €103,087 | €19,188 | -€83,899 | -81.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.