PIVA IMMO: 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.
PIVA IMMO
Largest movements
- Tangible fixed assets +€188,885
up €188,885 (+50.1%), from €376,706 to €565,592
of which Land and buildings: +€172,644
- Cash -€21,604
down €21,604 (-74.8%), from €28,880 to €7,276
mainly Investment in fixed assets (net) (-€232,676) and Net result for the year (-€20,633)
- Receivables within one year +€6,562
up €6,562 (+253.7%), from €2,586 to €9,149
of which Trade receivables: +€5,136
- Debts after one year +€181,133
up €181,133 (+65.3%), from €277,508 to €458,640
of which Other amounts payable: +€100,364
- Profit (loss) carried forward -€20,633
down €20,633 (-41.0%), from €50,376 to €29,743
- Current portion of long-term debt +€5,868
up €5,868 (+31.0%), from €18,949 to €24,817
- Depreciation +€23,952
up €23,952 (+132.6%), from €18,059 to €42,011
- Gross operating margin -€15,020
down €15,020 (-25.1%), from €59,897 to €44,877
- Financial charges +€5,475
up €5,475 (+61.6%), from €8,886 to €14,360
- Taxes -€5,046
no longer reported in 2025 (was €5,046)
- Other operating charges +€802
up €802 (+9.6%), from €8,337 to €9,138
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 | €408,241 | €584,615 | +€176,374 | +43.2% |
| Fixed assets | 21/28 | €376,706 | €567,371 | +€190,665 | +50.6% |
| Intangible fixed assets | 21 | - | €1,779 | +€1,779 | |
| Tangible fixed assets | 22/27 | €376,706 | €565,592 | +€188,885 | +50.1% |
| Land and buildings | 22 | €304,016 | €476,660 | +€172,644 | +56.8% |
| Plant, machinery and equipment | 23 | €11,416 | €27,282 | +€15,866 | +139.0% |
| Assets under construction and advance payments | 27 | €61,274 | €61,649 | +€375 | +0.6% |
| Current assets | 29/58 | €31,535 | €17,244 | -€14,291 | -45.3% |
| Amounts receivable within one year | 40/41 | €2,586 | €9,149 | +€6,562 | +253.7% |
| Trade receivables | 40 | - | €5,136 | +€5,136 | |
| Other amounts receivable | 41 | €2,586 | €4,012 | +€1,426 | +55.1% |
| Cash at bank and in hand | 54/58 | €28,880 | €7,276 | -€21,604 | -74.8% |
| Deferred charges and accrued income | 490/1 | €68 | €820 | +€751 | +1100.6% |
| Total equity and liabilities | 10/49 | €408,241 | €584,615 | +€176,374 | +43.2% |
| Equity | 10/15 | €100,376 | €79,743 | -€20,633 | -20.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,376 | €29,743 | -€20,633 | -41.0% |
| Amounts payable | 17/49 | €307,865 | €504,872 | +€197,007 | +64.0% |
| Amounts payable after more than one year | 17 | €277,508 | €458,640 | +€181,133 | +65.3% |
| Financial debts | 170/4 | €274,208 | €354,976 | +€80,768 | +29.5% |
| Other amounts payable | 178/9 | €3,300 | €103,664 | +€100,364 | +3041.3% |
| Amounts payable within one year | 42/48 | €26,607 | €43,232 | +€16,624 | +62.5% |
| Current portion of amounts payable after more than one year | 42 | €18,949 | €24,817 | +€5,868 | +31.0% |
| Trade debts | 44 | - | €4,754 | +€4,754 | |
| Suppliers | 440/4 | - | €4,754 | +€4,754 | |
| Taxes, remuneration and social security | 45 | €7,659 | €8,034 | +€375 | +4.9% |
| Taxes | 450/3 | €7,659 | €8,034 | +€375 | +4.9% |
| Other amounts payable | 47/48 | - | €5,627 | +€5,627 | |
| Accrued charges and deferred income | 492/3 | €3,750 | €3,000 | -€750 | -20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,059 | €42,011 | +€23,952 | +132.6% |
| Other operating charges | 640/8 | €8,337 | €9,138 | +€802 | +9.6% |
| Gross operating margin | 9900 | €59,897 | €44,877 | -€15,020 | -25.1% |
| Operating profit (loss) | 9901 | €33,501 | -€6,273 | -€39,773 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €8,886 | €14,360 | +€5,475 | +61.6% |
| Recurring financial charges | 65 | €8,886 | €14,360 | +€5,475 | +61.6% |
| Profit (loss) for the period before taxes | 9903 | €24,615 | -€20,633 | -€45,248 | |
| Income taxes | 67/77 | €5,046 | - | -€5,046 | |
| Profit (loss) for the period | 9904 | €19,569 | -€20,633 | -€40,202 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,569 | -€20,633 | -€40,202 |
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 9 October 2026 via checked.be.