PIVAN: 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.
PIVAN
Largest movements
- Cash +€562,299
up €562,299 (+98.3%), from €572,015 to €1.1m
mainly Net result for the year (+€579,229) and Trade debts (+€153,804)
- Reserves +€359,279
up €359,279 (+5.0%), from €7.2m to €7.6m
of which Distributable reserves: +€359,279
- Trade debts +€153,804
up €153,804 (+558%), from €27,563 to €181,367
- Gross operating margin +€199,084
up €199,084 (+15.9%), from €1.3m to €1.5m
- Staff costs +€106,876
up €106,876 (+18.8%), from €569,201 to €676,077
- Financial income -€16,918
down €16,918 (-60.2%), from €28,083 to €11,166
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 | €7,976,694 | €8,552,217 | +€575,522 | +7.2% |
| Fixed assets | 21/28 | €6,812,750 | €6,767,526 | -€45,224 | -0.7% |
| Tangible fixed assets | 22/27 | €1,078,226 | €1,033,002 | -€45,224 | -4.2% |
| Land and buildings | 22 | €1,078,226 | €1,033,002 | -€45,224 | -4.2% |
| Financial fixed assets | 28 | €5,734,524 | €5,734,524 | = | 0.0% |
| Current assets | 29/58 | €1,163,945 | €1,784,691 | +€620,746 | +53.3% |
| Amounts receivable within one year | 40/41 | €81,004 | €131,271 | +€50,267 | +62.1% |
| Trade receivables | 40 | €14,433 | €131,271 | +€116,839 | +810% |
| Other amounts receivable | 41 | €66,572 | €0 | -€66,572 | -100% |
| Current investments | 50/53 | €507,684 | €515,098 | +€7,414 | +1.5% |
| Cash at bank and in hand | 54/58 | €572,015 | €1,134,314 | +€562,299 | +98.3% |
| Deferred charges and accrued income | 490/1 | €3,242 | €4,008 | +€767 | +23.7% |
| Total equity and liabilities | 10/49 | €7,976,694 | €8,552,217 | +€575,522 | +7.2% |
| Equity | 10/15 | €7,683,730 | €8,043,009 | +€359,279 | +4.7% |
| Contributions | 10/11 | €478,825 | €478,825 | = | 0.0% |
| Reserves | 13 | €7,204,905 | €7,564,184 | +€359,279 | +5.0% |
| Non-distributable reserves | 130/1 | €47,883 | €47,883 | = | 0.0% |
| Reserves not available under the articles | 1311 | €47,883 | €47,883 | = | 0.0% |
| Distributable reserves | 133 | €7,157,022 | €7,516,302 | +€359,279 | +5.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €292,965 | €509,207 | +€216,243 | +73.8% |
| Amounts payable within one year | 42/48 | €292,965 | €509,164 | +€216,200 | +73.8% |
| Trade debts | 44 | €27,563 | €181,367 | +€153,804 | +558% |
| Suppliers | 440/4 | €27,563 | €181,367 | +€153,804 | +558% |
| Taxes, remuneration and social security | 45 | €61,231 | €99,847 | +€38,616 | +63.1% |
| Taxes | 450/3 | €8,033 | €32,695 | +€24,662 | +307% |
| Remuneration and social security | 454/9 | €53,198 | €67,152 | +€13,955 | +26.2% |
| Other amounts payable | 47/48 | €204,171 | €227,950 | +€23,779 | +11.6% |
| Accrued charges and deferred income | 492/3 | €0 | €43 | +€43 | |
| Non-recurring operating income | 76A | - | €714 | +€714 | |
| Remuneration, social security and pensions | 62 | €569,201 | €676,077 | +€106,876 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,224 | €45,224 | = | 0.0% |
| Other operating charges | 640/8 | €29,962 | €31,645 | +€1,684 | +5.6% |
| Gross operating margin | 9900 | €1,253,712 | €1,452,796 | +€199,084 | +15.9% |
| Operating profit (loss) | 9901 | €609,326 | €699,851 | +€90,525 | +14.9% |
| Financial income | 75/76B | €28,083 | €11,166 | -€16,918 | -60.2% |
| Recurring financial income | 75 | €28,083 | €11,166 | -€16,918 | -60.2% |
| Financial charges | 65/66B | €986 | €731 | -€254 | -25.8% |
| Recurring financial charges | 65 | €986 | €731 | -€254 | -25.8% |
| Profit (loss) for the period before taxes | 9903 | €636,423 | €710,285 | +€73,862 | +11.6% |
| Income taxes | 67/77 | €124,353 | €131,055 | +€6,702 | +5.4% |
| Profit (loss) for the period | 9904 | €512,070 | €579,229 | +€67,159 | +13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €512,070 | €579,229 | +€67,159 | +13.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.