PIZZICO: 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.
PIZZICO
Largest movements
- Cash +€19,585
up €19,585 (+21.3%), from €91,755 to €111,340
mainly Net result for the year (+€37,973) and Depreciation (+€25,700)
- Tangible fixed assets -€18,457
down €18,457 (-6.9%), from €268,782 to €250,325
of which Land and buildings: -€12,839
- Reserves +€37,973
up €37,973 (+23.9%), from €158,739 to €196,711
- Debts after one year -€19,684
no longer reported in 2025 (was €19,684)
- Current portion of long-term debt -€11,247
down €11,247 (-36.5%), from €30,828 to €19,581
- Gross operating margin +€19,970
up €19,970 (+25.8%), from €77,456 to €97,426
- Taxes +€6,736
up €6,736 (+60.2%), from €11,181 to €17,917
- Other operating charges -€3,909
down €3,909 (-52.5%), from €7,450 to €3,541
- Depreciation +€1,484
up €1,484 (+6.1%), from €24,216 to €25,700
- Staff costs -€1,369
down €1,369 (-15.7%), from €8,693 to €7,324
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 | €372,661 | €373,562 | +€902 | +0.2% |
| Fixed assets | 21/28 | €271,571 | €253,114 | -€18,457 | -6.8% |
| Tangible fixed assets | 22/27 | €268,782 | €250,325 | -€18,457 | -6.9% |
| Land and buildings | 22 | €241,766 | €228,928 | -€12,839 | -5.3% |
| Plant, machinery and equipment | 23 | €8,234 | €7,390 | -€844 | -10.2% |
| Furniture and vehicles | 24 | €18,782 | €9,179 | -€9,603 | -51.1% |
| Leasing and similar rights | 25 | - | €4,829 | +€4,829 | |
| Financial fixed assets | 28 | €2,789 | €2,789 | = | 0.0% |
| Current assets | 29/58 | €101,090 | €120,448 | +€19,359 | +19.1% |
| Stocks and contracts in progress | 3 | €4,238 | €3,750 | -€488 | -11.5% |
| Stocks | 30/36 | €4,238 | €3,750 | -€488 | -11.5% |
| Amounts receivable within one year | 40/41 | €2,357 | €2,811 | +€454 | +19.3% |
| Trade receivables | 40 | €1,082 | €183 | -€899 | -83.1% |
| Other amounts receivable | 41 | €1,276 | €2,629 | +€1,353 | +106% |
| Cash at bank and in hand | 54/58 | €91,755 | €111,340 | +€19,585 | +21.3% |
| Deferred charges and accrued income | 490/1 | €2,740 | €2,547 | -€193 | -7.0% |
| Total equity and liabilities | 10/49 | €372,661 | €373,562 | +€902 | +0.2% |
| Equity | 10/15 | €257,060 | €295,033 | +€37,973 | +14.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €158,739 | €196,711 | +€37,973 | +23.9% |
| Distributable reserves | 133 | €158,739 | €196,711 | +€37,973 | +23.9% |
| Profit (loss) carried forward | 14 | €77,862 | €77,862 | = | 0.0% |
| Amounts payable | 17/49 | €115,600 | €78,529 | -€37,071 | -32.1% |
| Amounts payable after more than one year | 17 | €19,684 | - | -€19,684 | |
| Financial debts | 170/4 | €19,684 | - | -€19,684 | |
| Amounts payable within one year | 42/48 | €95,917 | €78,529 | -€17,388 | -18.1% |
| Current portion of amounts payable after more than one year | 42 | €30,828 | €19,581 | -€11,247 | -36.5% |
| Trade debts | 44 | €11,590 | €7,864 | -€3,727 | -32.2% |
| Suppliers | 440/4 | €11,590 | €7,864 | -€3,727 | -32.2% |
| Taxes, remuneration and social security | 45 | €16,034 | €13,505 | -€2,530 | -15.8% |
| Taxes | 450/3 | €1,124 | €9,027 | +€7,903 | +703% |
| Remuneration and social security | 454/9 | €14,910 | €4,478 | -€10,433 | -70.0% |
| Other amounts payable | 47/48 | €37,464 | €37,580 | +€116 | +0.3% |
| Remuneration, social security and pensions | 62 | €8,693 | €7,324 | -€1,369 | -15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,216 | €25,700 | +€1,484 | +6.1% |
| Other operating charges | 640/8 | €7,450 | €3,541 | -€3,909 | -52.5% |
| Non-recurring operating charges | 66A | - | €173 | +€173 | |
| Gross operating margin | 9900 | €77,456 | €97,426 | +€19,970 | +25.8% |
| Operating profit (loss) | 9901 | €37,096 | €60,688 | +€23,592 | +63.6% |
| Financial income | 75/76B | €203 | €26 | -€178 | -87.4% |
| Recurring financial income | 75 | €203 | €26 | -€178 | -87.4% |
| Financial charges | 65/66B | €4,070 | €4,824 | +€753 | +18.5% |
| Recurring financial charges | 65 | €4,070 | €4,824 | +€753 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | €33,229 | €55,890 | +€22,660 | +68.2% |
| Income taxes | 67/77 | €11,181 | €17,917 | +€6,736 | +60.2% |
| Profit (loss) for the period | 9904 | €22,048 | €37,973 | +€15,924 | +72.2% |
| Profit (loss) for the period to be appropriated | 9905 | €22,048 | €37,973 | +€15,924 | +72.2% |
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 27 October 2026 via checked.be.