PIVETE: 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.
What changed
PIVETE
NACE 22.210, Manufacture of rubber and plastic products
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2,774
2024 · €52,098-€49,325
Equity
€167,063
2024 · €164,289+€2,774
Cash
€44
2024 · €729-€685
Balance sheet total
€471,819
2024 · €598,710-€126,891
Largest movements
Assets
- Receivables within one year -€122,304
down €122,304 (-24.9%), from €490,921 to €368,616
of which Trade receivables: -€110,133
Equity and liabilities
- Other debts -€72,462
down €72,462 (-59.9%), from €120,934 to €48,472
- Trade debts -€33,240
down €33,240 (-19.0%), from €175,022 to €141,781
- Short-term financial debts -€17,380
down €17,380 (-18.8%), from €92,380 to €75,000
- Debts after one year -€6,928
down €6,928 (-30.0%), from €23,130 to €16,201
Income statement
- Gross operating margin -€70,923
down €70,923 (-45.9%), from €154,667 to €83,744
- Taxes -€16,290
down €16,290 (-93.7%), from €17,389 to €1,099
- Depreciation -€4,559
down €4,559 (-62.1%), from €7,343 to €2,784
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.
Result 2024
€52,098
Gross operating margin
-€70,923
Staff costs
-€1,427
Depreciation
+€4,559
Other operating charges
-€31
Financial income
+€1,241
Financial charges
+€966
Taxes
+€16,290
Result 2025
€2,774
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.
From operations
+€26,078
Investment
€0
Financing
-€26,764
Cash 2024
€729
From operations (derived)
+€26,078
Net result for the year
+€2,774
Depreciation
+€2,784
Stocks and contracts
+€464
Receivables within one year
+€122,304
Deferred charges and accrued income
+€654
Trade debts
-€33,240
Tax, wage and social debts
+€1,561
Other debts
-€72,462
Accrued charges and deferred income
+€1,240
Financing
-€26,764
Debts after one year
-€6,928
Current portion of long-term debt
-€2,455
Short-term financial debts
-€17,380
Cash 2025
€44
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €598,710 | €471,819 | -€126,891 | -21.2% |
| Fixed assets | 21/28 | €4,718 | €1,934 | -€2,784 | -59.0% |
| Intangible fixed assets | 21 | €356 | €0 | -€356 | -100.0% |
| Tangible fixed assets | 22/27 | €4,362 | €1,934 | -€2,428 | -55.7% |
| Plant, machinery and equipment | 23 | €4,362 | €1,934 | -€2,428 | -55.7% |
| Current assets | 29/58 | €593,993 | €469,885 | -€124,108 | -20.9% |
| Stocks and contracts in progress | 3 | €100,641 | €100,177 | -€464 | -0.5% |
| Stocks | 30/36 | €100,641 | €100,177 | -€464 | -0.5% |
| Amounts receivable within one year | 40/41 | €490,921 | €368,616 | -€122,304 | -24.9% |
| Trade receivables | 40 | €460,133 | €350,000 | -€110,133 | -23.9% |
| Other amounts receivable | 41 | €30,788 | €18,616 | -€12,172 | -39.5% |
| Cash at bank and in hand | 54/58 | €729 | €44 | -€685 | -94.0% |
| Deferred charges and accrued income | 490/1 | €1,702 | €1,048 | -€654 | -38.4% |
| Total equity and liabilities | 10/49 | €598,710 | €471,819 | -€126,891 | -21.2% |
| Equity | 10/15 | €164,289 | €167,063 | +€2,774 | +1.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €158,089 | €160,863 | +€2,774 | +1.8% |
| Non-distributable reserves | 130/1 | €826 | €826 | = | 0.0% |
| Reserves not available under the articles | 1311 | €826 | €826 | = | 0.0% |
| Distributable reserves | 133 | €157,263 | €160,036 | +€2,774 | +1.8% |
| Amounts payable | 17/49 | €434,422 | €304,756 | -€129,665 | -29.8% |
| Amounts payable after more than one year | 17 | €23,130 | €16,201 | -€6,928 | -30.0% |
| Financial debts | 170/4 | €23,130 | €16,201 | -€6,928 | -30.0% |
| Amounts payable within one year | 42/48 | €411,292 | €287,315 | -€123,977 | -30.1% |
| Current portion of amounts payable after more than one year | 42 | €9,383 | €6,928 | -€2,455 | -26.2% |
| Financial debts | 43 | €92,380 | €75,000 | -€17,380 | -18.8% |
| Credit institutions | 430/8 | €92,380 | €75,000 | -€17,380 | -18.8% |
| Trade debts | 44 | €175,022 | €141,781 | -€33,240 | -19.0% |
| Suppliers | 440/4 | €175,022 | €141,781 | -€33,240 | -19.0% |
| Taxes, remuneration and social security | 45 | €13,572 | €15,133 | +€1,561 | +11.5% |
| Taxes | 450/3 | €1,816 | €2,966 | +€1,149 | +63.3% |
| Remuneration and social security | 454/9 | €11,756 | €12,167 | +€412 | +3.5% |
| Other amounts payable | 47/48 | €120,934 | €48,472 | -€72,462 | -59.9% |
| Accrued charges and deferred income | 492/3 | - | €1,240 | +€1,240 | |
| Remuneration, social security and pensions | 62 | €66,008 | €67,436 | +€1,427 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,343 | €2,784 | -€4,559 | -62.1% |
| Other operating charges | 640/8 | €2,055 | €2,085 | +€31 | +1.5% |
| Gross operating margin | 9900 | €154,667 | €83,744 | -€70,923 | -45.9% |
| Operating profit (loss) | 9901 | €79,261 | €11,439 | -€67,822 | -85.6% |
| Financial income | 75/76B | €220 | €1,461 | +€1,241 | +564.9% |
| Recurring financial income | 75 | €220 | €1,461 | +€1,241 | +564.9% |
| Financial charges | 65/66B | €9,993 | €9,027 | -€966 | -9.7% |
| Recurring financial charges | 65 | €9,993 | €9,027 | -€966 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €69,487 | €3,873 | -€65,615 | -94.4% |
| Income taxes | 67/77 | €17,389 | €1,099 | -€16,290 | -93.7% |
| Profit (loss) for the period | 9904 | €52,098 | €2,774 | -€49,325 | -94.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,098 | €2,774 | -€49,325 | -94.7% |
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 10 October 2026 via checked.be.