PIWIDINVEST: 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.
PIWIDINVEST
Largest movements
- Cash +€406,670
up €406,670 (+91.1%), from €446,501 to €853,171
mainly Investment in fixed assets (net) (+€313,563) and Receivables within one year (+€147,958)
- Tangible fixed assets -€321,831
down €321,831 (-61.2%), from €525,671 to €203,840
of which Land and buildings: -€320,535
- Receivables within one year -€147,958
down €147,958 (-90.1%), from €164,179 to €16,221
of which Other amounts receivable: -€149,376
- Tax, wage and social debts -€108,621
down €108,621 (-82.7%), from €131,359 to €22,738
of which Taxes: -€105,619
- Reserves +€42,530
up €42,530 (+4.5%), from €952,805 to €995,335
of which Distributable reserves: +€42,530
- Profit (loss) carried forward -€34,286
down €34,286 (-12.7%), from €269,145 to €234,859
- Other debts +€34,286
new in 2025: €34,286
- Other operating charges +€47,735
up €47,735 (+239%), from €19,977 to €67,712
- Gross operating margin +€45,102
up €45,102 (+52.8%), from €85,468 to €130,570
- Depreciation -€21,974
down €21,974 (-72.7%), from €30,242 to €8,268
- Taxes +€4,986
up €4,986 (+40.8%), from €12,210 to €17,197
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 | €1,438,123 | €1,373,010 | -€65,114 | -4.5% |
| Fixed assets | 21/28 | €823,614 | €501,783 | -€321,831 | -39.1% |
| Tangible fixed assets | 22/27 | €525,671 | €203,840 | -€321,831 | -61.2% |
| Land and buildings | 22 | €518,392 | €197,857 | -€320,535 | -61.8% |
| Plant, machinery and equipment | 23 | €7,279 | €5,983 | -€1,296 | -17.8% |
| Financial fixed assets | 28 | €297,944 | €297,944 | = | 0.0% |
| Current assets | 29/58 | €614,509 | €871,226 | +€256,718 | +41.8% |
| Amounts receivable within one year | 40/41 | €164,179 | €16,221 | -€147,958 | -90.1% |
| Trade receivables | 40 | - | €1,418 | +€1,418 | |
| Other amounts receivable | 41 | €164,179 | €14,803 | -€149,376 | -91.0% |
| Cash at bank and in hand | 54/58 | €446,501 | €853,171 | +€406,670 | +91.1% |
| Deferred charges and accrued income | 490/1 | €3,828 | €1,834 | -€1,994 | -52.1% |
| Total equity and liabilities | 10/49 | €1,438,123 | €1,373,010 | -€65,114 | -4.5% |
| Equity | 10/15 | €1,303,950 | €1,312,194 | +€8,244 | +0.6% |
| Contributions | 10/11 | €82,000 | €82,000 | = | 0.0% |
| Capital | 10 | €82,000 | €82,000 | = | 0.0% |
| Issued capital | 100 | €82,000 | €82,000 | = | 0.0% |
| Reserves | 13 | €952,805 | €995,335 | +€42,530 | +4.5% |
| Non-distributable reserves | 130/1 | €8,200 | €8,200 | = | 0.0% |
| Legal reserve | 130 | €8,200 | €8,200 | = | 0.0% |
| Distributable reserves | 133 | €944,605 | €987,135 | +€42,530 | +4.5% |
| Profit (loss) carried forward | 14 | €269,145 | €234,859 | -€34,286 | -12.7% |
| Amounts payable | 17/49 | €134,173 | €60,815 | -€73,358 | -54.7% |
| Amounts payable within one year | 42/48 | €134,173 | €60,815 | -€73,358 | -54.7% |
| Trade debts | 44 | €2,814 | €3,792 | +€978 | +34.8% |
| Suppliers | 440/4 | €2,814 | €3,792 | +€978 | +34.8% |
| Taxes, remuneration and social security | 45 | €131,359 | €22,738 | -€108,621 | -82.7% |
| Taxes | 450/3 | €123,394 | €17,776 | -€105,619 | -85.6% |
| Remuneration and social security | 454/9 | €7,965 | €4,962 | -€3,003 | -37.7% |
| Other amounts payable | 47/48 | - | €34,286 | +€34,286 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,242 | €8,268 | -€21,974 | -72.7% |
| Other operating charges | 640/8 | €19,977 | €67,712 | +€47,735 | +239% |
| Gross operating margin | 9900 | €85,468 | €130,570 | +€45,102 | +52.8% |
| Operating profit (loss) | 9901 | €35,249 | €54,590 | +€19,341 | +54.9% |
| Financial income | 75/76B | €7,007 | €6,749 | -€258 | -3.7% |
| Recurring financial income | 75 | €7,007 | €6,749 | -€258 | -3.7% |
| Financial charges | 65/66B | €1,788 | €1,612 | -€176 | -9.8% |
| Recurring financial charges | 65 | €1,788 | €1,612 | -€176 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €40,468 | €59,727 | +€19,259 | +47.6% |
| Income taxes | 67/77 | €12,210 | €17,197 | +€4,986 | +40.8% |
| Profit (loss) for the period | 9904 | €28,258 | €42,530 | +€14,272 | +50.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,258 | €42,530 | +€14,272 | +50.5% |
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 22 October 2026 via checked.be.