PIZSANI: 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.
PIZSANI
Largest movements
- Receivables within one year +€31,557
up €31,557 (+13.5%), from €233,918 to €265,475
- Tangible fixed assets -€16,508
down €16,508 (-30.9%), from €53,337 to €36,829
of which Land and buildings: -€11,607
- Cash -€13,784
down €13,784 (-44.2%), from €31,175 to €17,392
mainly Receivables within one year (-€31,557) and Debts after one year (-€25,000)
- Short-term financial debts +€36,361
new in 2025: €36,361
- Debts after one year -€25,000
down €25,000 (-27.9%), from €89,711 to €64,711
- Trade debts -€10,299
no longer reported in 2025 (was €10,299)
- Profit (loss) carried forward +€7,926
up €7,926 (+14.0%), from €56,748 to €64,674
- Taxes -€11,781
down €11,781, from €4,128 to -€7,653
- Financial charges +€5,138
up €5,138 (+84.6%), from €6,070 to €11,207
- Gross operating margin -€4,686
down €4,686 (-5.6%), from €84,150 to €79,463
- Staff costs -€4,059
down €4,059 (-7.8%), from €51,902 to €47,842
- Depreciation -€1,053
down €1,053 (-6.0%), from €17,561 to €16,508
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 | €325,114 | €326,730 | +€1,616 | +0.5% |
| Fixed assets | 21/28 | €54,527 | €38,020 | -€16,508 | -30.3% |
| Tangible fixed assets | 22/27 | €53,337 | €36,829 | -€16,508 | -30.9% |
| Land and buildings | 22 | €46,341 | €34,734 | -€11,607 | -25.0% |
| Plant, machinery and equipment | 23 | €2,603 | - | -€2,603 | |
| Furniture and vehicles | 24 | €4,394 | €2,096 | -€2,298 | -52.3% |
| Financial fixed assets | 28 | €1,191 | €1,191 | = | 0.0% |
| Current assets | 29/58 | €270,587 | €288,711 | +€18,124 | +6.7% |
| Stocks and contracts in progress | 3 | €3,439 | €3,789 | +€350 | +10.2% |
| Stocks | 30/36 | €3,439 | €3,789 | +€350 | +10.2% |
| Amounts receivable within one year | 40/41 | €233,918 | €265,475 | +€31,557 | +13.5% |
| Other amounts receivable | 41 | €233,918 | €265,475 | +€31,557 | +13.5% |
| Cash at bank and in hand | 54/58 | €31,175 | €17,392 | -€13,784 | -44.2% |
| Deferred charges and accrued income | 490/1 | €2,055 | €2,055 | = | 0.0% |
| Total equity and liabilities | 10/49 | €325,114 | €326,730 | +€1,616 | +0.5% |
| Equity | 10/15 | €126,643 | €134,569 | +€7,926 | +6.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €7,896 | €7,896 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,896 | €7,896 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,748 | €64,674 | +€7,926 | +14.0% |
| Amounts payable | 17/49 | €198,471 | €192,161 | -€6,310 | -3.2% |
| Amounts payable after more than one year | 17 | €89,711 | €64,711 | -€25,000 | -27.9% |
| Financial debts | 170/4 | €89,711 | €64,711 | -€25,000 | -27.9% |
| Amounts payable within one year | 42/48 | €108,760 | €127,450 | +€18,690 | +17.2% |
| Current portion of amounts payable after more than one year | 42 | €23,852 | €21,296 | -€2,556 | -10.7% |
| Financial debts | 43 | - | €36,361 | +€36,361 | |
| Credit institutions | 430/8 | - | €36,361 | +€36,361 | |
| Trade debts | 44 | €10,299 | - | -€10,299 | |
| Suppliers | 440/4 | €10,299 | - | -€10,299 | |
| Taxes, remuneration and social security | 45 | €25,791 | €22,625 | -€3,166 | -12.3% |
| Taxes | 450/3 | €12,135 | €11,238 | -€896 | -7.4% |
| Remuneration and social security | 454/9 | €13,656 | €11,386 | -€2,270 | -16.6% |
| Other amounts payable | 47/48 | €48,818 | €47,168 | -€1,650 | -3.4% |
| Remuneration, social security and pensions | 62 | €51,902 | €47,842 | -€4,059 | -7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,561 | €16,508 | -€1,053 | -6.0% |
| Other operating charges | 640/8 | €3,883 | €3,698 | -€184 | -4.7% |
| Gross operating margin | 9900 | €84,150 | €79,463 | -€4,686 | -5.6% |
| Operating profit (loss) | 9901 | €10,804 | €11,415 | +€611 | +5.7% |
| Financial income | 75/76B | €453 | €66 | -€387 | -85.5% |
| Recurring financial income | 75 | €453 | €66 | -€387 | -85.5% |
| Financial charges | 65/66B | €6,070 | €11,207 | +€5,138 | +84.6% |
| Recurring financial charges | 65 | €6,070 | €11,207 | +€5,138 | +84.6% |
| Profit (loss) for the period before taxes | 9903 | €5,187 | €273 | -€4,914 | -94.7% |
| Income taxes | 67/77 | €4,128 | -€7,653 | -€11,781 | |
| Profit (loss) for the period | 9904 | €1,058 | €7,926 | +€6,868 | +649% |
| Profit (loss) for the period to be appropriated | 9905 | €1,058 | €7,926 | +€6,868 | +649% |
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.