PIVOTONS: 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.
PIVOTONS
Largest movements
- Tangible fixed assets -€21,736
down €21,736 (-5.6%), from €389,483 to €367,747
of which Land and buildings: -€15,743
- Profit (loss) carried forward -€12,604
down €12,604 (-20.0%), from -€63,088 to -€75,691
- Debts after one year -€10,194
down €10,194 (-10.9%), from €93,337 to €83,143
- Other operating charges +€412
up €412 (+52.8%), from €781 to €1,194
- Financial charges -€132
down €132 (-7.7%), from €1,717 to €1,585
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 | €418,846 | €397,020 | -€21,825 | -5.2% |
| Fixed assets | 21/28 | €389,483 | €367,747 | -€21,736 | -5.6% |
| Tangible fixed assets | 22/27 | €389,483 | €367,747 | -€21,736 | -5.6% |
| Land and buildings | 22 | €334,621 | €318,878 | -€15,743 | -4.7% |
| Other tangible fixed assets | 26 | €54,862 | €48,868 | -€5,993 | -10.9% |
| Current assets | 29/58 | €29,363 | €29,274 | -€89 | -0.3% |
| Cash at bank and in hand | 54/58 | €28,494 | €28,362 | -€132 | -0.5% |
| Deferred charges and accrued income | 490/1 | €869 | €911 | +€43 | +4.9% |
| Total equity and liabilities | 10/49 | €418,846 | €397,020 | -€21,825 | -5.2% |
| Equity | 10/15 | €236,912 | €224,309 | -€12,604 | -5.3% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,088 | -€75,691 | -€12,604 | -20.0% |
| Amounts payable | 17/49 | €181,933 | €172,712 | -€9,222 | -5.1% |
| Amounts payable after more than one year | 17 | €93,337 | €83,143 | -€10,194 | -10.9% |
| Financial debts | 170/4 | €93,337 | €83,143 | -€10,194 | -10.9% |
| Amounts payable within one year | 42/48 | €88,596 | €89,568 | +€972 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €10,050 | €10,194 | +€144 | +1.4% |
| Trade debts | 44 | - | €1,042 | +€1,042 | |
| Suppliers | 440/4 | - | €1,042 | +€1,042 | |
| Other amounts payable | 47/48 | €78,546 | €78,332 | -€214 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,736 | €21,736 | = | 0.0% |
| Other operating charges | 640/8 | €781 | €1,194 | +€412 | +52.8% |
| Gross operating margin | 9900 | €11,818 | €11,912 | +€94 | +0.8% |
| Operating profit (loss) | 9901 | -€10,700 | -€11,018 | -€319 | -3.0% |
| Financial charges | 65/66B | €1,717 | €1,585 | -€132 | -7.7% |
| Recurring financial charges | 65 | €1,717 | €1,585 | -€132 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | -€12,417 | -€12,604 | -€187 | -1.5% |
| Profit (loss) for the period | 9904 | -€12,417 | -€12,604 | -€187 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,417 | -€12,604 | -€187 | -1.5% |
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 30 September 2026 via checked.be.