PIVACO: 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.
PIVACO
Largest movements
- Receivables within one year -€2,198
down €2,198 (-44.7%), from €4,919 to €2,721
of which Other amounts receivable: -€1,464
- Cash -€1,939
down €1,939 (-54.9%), from €3,530 to €1,592
mainly Net result for the year (-€10,088) and Trade debts (-€184)
- Tangible fixed assets -€1,132
down €1,132 (-15.8%), from €7,148 to €6,016
of which Land and buildings: -€760
- Profit (loss) carried forward -€10,088
down €10,088 (-122.4%), from -€8,239 to -€18,327
- Other debts +€4,493
up €4,493 (+29.2%), from €15,385 to €19,878
- Tax, wage and social debts +€476
up €476 (+118.9%), from €400 to €876
- Trade debts -€184
down €184 (-4.9%), from €3,733 to €3,549
- Gross operating margin -€5,448
down €5,448 (-303.4%), from -€1,796 to -€7,244
- Financial charges -€2,177
down €2,177 (-62.9%), from €3,459 to €1,283
- Other operating charges -€912
down €912 (-76.5%), from €1,193 to €281
- Depreciation -€435
down €435 (-27.8%), from €1,567 to €1,132
- Taxes -€79
down €79 (-32.5%), from €242 to €163
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 | €16,279 | €10,976 | -€5,303 | -32.6% |
| Fixed assets | 21/28 | €7,148 | €6,016 | -€1,132 | -15.8% |
| Tangible fixed assets | 22/27 | €7,148 | €6,016 | -€1,132 | -15.8% |
| Land and buildings | 22 | €6,585 | €5,825 | -€760 | -11.5% |
| Furniture and vehicles | 24 | €563 | €192 | -€372 | -65.9% |
| Current assets | 29/58 | €9,131 | €4,960 | -€4,171 | -45.7% |
| Amounts receivable within one year | 40/41 | €4,919 | €2,721 | -€2,198 | -44.7% |
| Trade receivables | 40 | €2,454 | €1,720 | -€734 | -29.9% |
| Other amounts receivable | 41 | €2,465 | €1,001 | -€1,464 | -59.4% |
| Cash at bank and in hand | 54/58 | €3,530 | €1,592 | -€1,939 | -54.9% |
| Deferred charges and accrued income | 490/1 | €682 | €647 | -€34 | -5.0% |
| Total equity and liabilities | 10/49 | €16,279 | €10,976 | -€5,303 | -32.6% |
| Equity | 10/15 | -€3,239 | -€13,327 | -€10,088 | -311.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,239 | -€18,327 | -€10,088 | -122.4% |
| Amounts payable | 17/49 | €19,518 | €24,303 | +€4,785 | +24.5% |
| Amounts payable within one year | 42/48 | €19,518 | €24,303 | +€4,785 | +24.5% |
| Trade debts | 44 | €3,733 | €3,549 | -€184 | -4.9% |
| Suppliers | 440/4 | €3,733 | €3,549 | -€184 | -4.9% |
| Taxes, remuneration and social security | 45 | €400 | €876 | +€476 | +118.9% |
| Taxes | 450/3 | €400 | €876 | +€476 | +118.9% |
| Other amounts payable | 47/48 | €15,385 | €19,878 | +€4,493 | +29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,567 | €1,132 | -€435 | -27.8% |
| Other operating charges | 640/8 | €1,193 | €281 | -€912 | -76.5% |
| Gross operating margin | 9900 | -€1,796 | -€7,244 | -€5,448 | -303.4% |
| Operating profit (loss) | 9901 | -€4,556 | -€8,657 | -€4,101 | -90.0% |
| Financial income | 75/76B | €18 | €14 | -€3 | -19.1% |
| Recurring financial income | 75 | €18 | €14 | -€3 | -19.1% |
| Financial charges | 65/66B | €3,459 | €1,283 | -€2,177 | -62.9% |
| Recurring financial charges | 65 | €3,459 | €1,283 | -€2,177 | -62.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,997 | -€9,925 | -€1,928 | -24.1% |
| Income taxes | 67/77 | €242 | €163 | -€79 | -32.5% |
| Profit (loss) for the period | 9904 | -€8,239 | -€10,088 | -€1,849 | -22.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,239 | -€10,088 | -€1,849 | -22.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.