Pizo: what changed
Pizo
Largest movements
- Cash -€31,146
down €31,146 (-92.8%), from €33,546 to €2,401
mainly Net result for the year (-€23,925) and Other debts (-€4,948)
- Deferred charges and accrued income +€3,958
up €3,958 (+15,985%), from €25 to €3,983
- Profit (loss) carried forward -€12,174
new in 2025: -€12,174
- Reserves -€11,751
no longer reported in 2025 (was €11,751)
- Trade debts +€5,442
new in 2025: €5,442
- Other debts -€4,948
down €4,948 (-29.8%), from €16,593 to €11,645
- Tax, wage and social debts -€3,758
down €3,758 (-74.0%), from €5,077 to €1,320
- Gross operating margin -€40,472
down €40,472, from €17,150 to -€23,322
- Taxes -€1,056
down €1,056 (-88.9%), from €1,188 to €132
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,571 | €6,383 | -€27,188 | -81.0% |
| Current assets | 29/58 | €33,571 | €6,383 | -€27,188 | -81.0% |
| Cash at bank and in hand | 54/58 | €33,546 | €2,401 | -€31,146 | -92.8% |
| Deferred charges and accrued income | 490/1 | €25 | €3,983 | +€3,958 | +15,985% |
| Total equity and liabilities | 10/49 | €33,571 | €6,383 | -€27,188 | -81.0% |
| Equity | 10/15 | €11,901 | -€12,024 | -€23,925 | |
| Contributions | 10/11 | €150 | €150 | = | 0.0% |
| Reserves | 13 | €11,751 | - | -€11,751 | |
| Distributable reserves | 133 | €11,751 | - | -€11,751 | |
| Profit (loss) carried forward | 14 | - | -€12,174 | -€12,174 | |
| Amounts payable | 17/49 | €21,670 | €18,407 | -€3,263 | -15.1% |
| Amounts payable within one year | 42/48 | €21,670 | €18,407 | -€3,263 | -15.1% |
| Trade debts | 44 | - | €5,442 | +€5,442 | |
| Suppliers | 440/4 | - | €5,442 | +€5,442 | |
| Taxes, remuneration and social security | 45 | €5,077 | €1,320 | -€3,758 | -74.0% |
| Taxes | 450/3 | €5,077 | €1,320 | -€3,758 | -74.0% |
| Other amounts payable | 47/48 | €16,593 | €11,645 | -€4,948 | -29.8% |
| Other operating charges | 640/8 | €293 | €416 | +€123 | +41.9% |
| Gross operating margin | 9900 | €17,150 | -€23,322 | -€40,472 | |
| Operating profit (loss) | 9901 | €16,857 | -€23,738 | -€40,595 | |
| Financial charges | 65/66B | €44 | €55 | +€12 | +26.4% |
| Recurring financial charges | 65 | €44 | €55 | +€12 | +26.4% |
| Profit (loss) for the period before taxes | 9903 | €16,813 | -€23,793 | -€40,606 | |
| Income taxes | 67/77 | €1,188 | €132 | -€1,056 | -88.9% |
| Profit (loss) for the period | 9904 | €15,626 | -€23,925 | -€39,551 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,626 | -€23,925 | -€39,551 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.