Pivot Invest: 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.
Pivot Invest
Largest movements
- Tangible fixed assets +€3.7m
up €3.7m (+46.4%), from €7.9m to €11.5m
of which Land and buildings: +€3.7m
- Debts after one year +€3.0m
up €3.0m (+49.9%), from €6.1m to €9.1m
of which Financial debts: +€3.0m
- Contributions +€689,999
up €689,999 (+29.9%), from €2.3m to €3.0m
- Profit (loss) carried forward -€394,664
down €394,664 (-51.2%), from -€770,538 to -€1.2m
- Other debts +€298,413
new in 2025: €298,413
- Other operating charges +€445,669
up €445,669 (+3470.9%), from €12,840 to €458,509
- Gross operating margin -€53,779
down €53,779 (-10.3%), from €524,007 to €470,228
- Financial charges -€51,521
down €51,521 (-21.1%), from €244,087 to €192,567
- Financial income -€5,316
down €5,316 (-100.0%), from €5,316 to €0
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 | €7,948,632 | €11,679,841 | +€3.7m | +46.9% |
| Fixed assets | 21/28 | €7,886,131 | €11,549,032 | +€3.7m | +46.4% |
| Tangible fixed assets | 22/27 | €7,886,131 | €11,549,032 | +€3.7m | +46.4% |
| Land and buildings | 22 | €7,878,192 | €11,538,651 | +€3.7m | +46.5% |
| Plant, machinery and equipment | 23 | €3,335 | €2,126 | -€1,209 | -36.3% |
| Furniture and vehicles | 24 | €4,604 | €8,255 | +€3,651 | +79.3% |
| Current assets | 29/58 | €62,501 | €130,809 | +€68,308 | +109.3% |
| Amounts receivable within one year | 40/41 | €0 | €3,083 | +€3,083 | |
| Trade receivables | 40 | €0 | €3,083 | +€3,083 | |
| Cash at bank and in hand | 54/58 | €60,564 | €125,339 | +€64,775 | +107.0% |
| Deferred charges and accrued income | 490/1 | €1,937 | €2,388 | +€451 | +23.3% |
| Total equity and liabilities | 10/49 | €7,948,632 | €11,679,841 | +€3.7m | +46.9% |
| Equity | 10/15 | €1,539,463 | €1,834,798 | +€295,335 | +19.2% |
| Contributions | 10/11 | €2,310,001 | €3,000,000 | +€689,999 | +29.9% |
| Capital | 10 | €2,310,001 | €3,000,000 | +€689,999 | +29.9% |
| Issued capital | 100 | €3,000,000 | €3,000,000 | = | 0.0% |
| Uncalled capital | 101 | €689,999 | €0 | -€689,999 | -100.0% |
| Profit (loss) carried forward | 14 | -€770,538 | -€1,165,202 | -€394,664 | -51.2% |
| Amounts payable | 17/49 | €6,409,169 | €9,845,043 | +€3.4m | +53.6% |
| Amounts payable after more than one year | 17 | €6,095,740 | €9,136,427 | +€3.0m | +49.9% |
| Financial debts | 170/4 | €6,014,338 | €9,057,831 | +€3.0m | +50.6% |
| Other amounts payable | 178/9 | €81,402 | €78,597 | -€2,805 | -3.4% |
| Amounts payable within one year | 42/48 | €313,430 | €664,719 | +€351,289 | +112.1% |
| Current portion of amounts payable after more than one year | 42 | €284,696 | €356,507 | +€71,812 | +25.2% |
| Financial debts | 43 | €4,633 | €7,510 | +€2,878 | +62.1% |
| Credit institutions | 430/8 | €0 | €7,303 | +€7,303 | |
| Other loans | 439 | €4,633 | €207 | -€4,426 | -95.5% |
| Trade debts | 44 | €24,101 | €2,288 | -€21,813 | -90.5% |
| Suppliers | 440/4 | €24,101 | €2,288 | -€21,813 | -90.5% |
| Other amounts payable | 47/48 | - | €298,413 | +€298,413 | |
| Accrued charges and deferred income | 492/3 | €0 | €43,897 | +€43,897 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €209,984 | €213,817 | +€3,832 | +1.8% |
| Other operating charges | 640/8 | €12,840 | €458,509 | +€445,669 | +3470.9% |
| Gross operating margin | 9900 | €524,007 | €470,228 | -€53,779 | -10.3% |
| Operating profit (loss) | 9901 | €301,182 | -€202,097 | -€503,279 | |
| Financial income | 75/76B | €5,316 | €0 | -€5,316 | -100.0% |
| Recurring financial income | 75 | €5,316 | €0 | -€5,316 | -100.0% |
| Financial charges | 65/66B | €244,087 | €192,567 | -€51,521 | -21.1% |
| Recurring financial charges | 65 | €244,087 | €192,567 | -€51,521 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €62,410 | -€394,664 | -€457,074 | |
| Profit (loss) for the period | 9904 | €62,410 | -€394,664 | -€457,074 | |
| Profit (loss) for the period to be appropriated | 9905 | €62,410 | -€394,664 | -€457,074 |
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 11 October 2026 via checked.be.