PIVANTO: 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.
PIVANTO
Largest movements
- Receivables within one year +€1.3m
up €1.3m (+1254.3%), from €106,573 to €1.4m
of which Trade receivables: +€1.3m
- Cash +€193,238
up €193,238 (+325.4%), from €59,381 to €252,619
mainly Net result for the year (+€1.1m) and Tax, wage and social debts (+€383,003)
- Reserves +€1.1m
up €1.1m (+950.4%), from €120,932 to €1.3m
- Tax, wage and social debts +€383,003
up €383,003 (+820.3%), from €46,690 to €429,693
- Gross operating margin +€1.4m
up €1.4m (+881.8%), from €156,474 to €1.5m
- Taxes +€345,635
up €345,635 (+996.1%), from €34,698 to €380,333
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 | €172,651 | €1,709,671 | +€1.5m | +890.2% |
| Fixed assets | 21/28 | €6,696 | €13,695 | +€6,998 | +104.5% |
| Tangible fixed assets | 22/27 | €6,696 | €13,695 | +€6,998 | +104.5% |
| Plant, machinery and equipment | 23 | - | €1,170 | +€1,170 | |
| Furniture and vehicles | 24 | €6,696 | €12,525 | +€5,829 | +87.0% |
| Current assets | 29/58 | €165,954 | €1,695,976 | +€1.5m | +922.0% |
| Amounts receivable within one year | 40/41 | €106,573 | €1,443,357 | +€1.3m | +1254.3% |
| Trade receivables | 40 | €106,572 | €1,416,895 | +€1.3m | +1229.5% |
| Other amounts receivable | 41 | €2 | €26,462 | +€26,460 | +1378127.1% |
| Cash at bank and in hand | 54/58 | €59,381 | €252,619 | +€193,238 | +325.4% |
| Total equity and liabilities | 10/49 | €172,651 | €1,709,671 | +€1.5m | +890.2% |
| Equity | 10/15 | €123,532 | €1,272,850 | +€1.1m | +930.4% |
| Contributions | 10/11 | €2,600 | €2,600 | = | 0.0% |
| Reserves | 13 | €120,932 | €1,270,250 | +€1.1m | +950.4% |
| Distributable reserves | 133 | €120,932 | €1,270,250 | +€1.1m | +950.4% |
| Amounts payable | 17/49 | €49,118 | €436,821 | +€387,703 | +789.3% |
| Amounts payable within one year | 42/48 | €49,118 | €436,821 | +€387,703 | +789.3% |
| Trade debts | 44 | €1,452 | €7,128 | +€5,675 | +390.7% |
| Suppliers | 440/4 | €1,452 | €7,128 | +€5,675 | +390.7% |
| Taxes, remuneration and social security | 45 | €46,690 | €429,693 | +€383,003 | +820.3% |
| Taxes | 450/3 | €46,690 | €429,693 | +€383,003 | +820.3% |
| Other amounts payable | 47/48 | €976 | - | -€976 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4 | €2,981 | +€2,978 | +81137.1% |
| Other operating charges | 640/8 | - | €700 | +€700 | |
| Gross operating margin | 9900 | €156,474 | €1,536,260 | +€1.4m | +881.8% |
| Operating profit (loss) | 9901 | €156,470 | €1,532,578 | +€1.4m | +879.5% |
| Financial charges | 65/66B | €7 | €2,928 | +€2,921 | +42772.6% |
| Recurring financial charges | 65 | €7 | €2,928 | +€2,921 | +42772.6% |
| Profit (loss) for the period before taxes | 9903 | €156,463 | €1,529,650 | +€1.4m | +877.6% |
| Income taxes | 67/77 | €34,698 | €380,333 | +€345,635 | +996.1% |
| Profit (loss) for the period | 9904 | €121,765 | €1,149,318 | +€1.0m | +843.9% |
| Profit (loss) for the period to be appropriated | 9905 | €121,765 | €1,149,318 | +€1.0m | +843.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.