PINE
Annual accounts 2025
micro format, filed on 29-06-2026, 32 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €450,000. Estimated: probably between €300,000 and €700,000.
Balance sheet
balance sheet total €193,721 on 31-12-2025in euro
in euro
Position in the sector
70.7%
Higher than 82% of 2,880 companies in 2025.
3.26
Higher than 82% of 2,765 companies in 2025.
34.8%
Higher than 91% of 2,789 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: middle half · Working capital: top quarter
Staff
€37,976
Staff costs divided by the average number of full-time equivalents.
level
In 2025, 1 person joined and 1 left.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||
20/58 |
193,721 | 76,933 | 102,011 | 42,285 | 37,539 | 31,819 | 43,879 | 86,642 | 40,352 | |
20 |
- | - | - | - | 0 | 216 | 432 | 648 | 864 | |
21/28 |
8,866 | 6,576 | 10,054 | - | 0 | 60 | - | - | - | |
22/27 |
6,866 | 6,576 | 10,054 | - | - | - | - | - | - | |
24 |
6,866 | 6,576 | 10,054 | - | - | - | - | - | - | |
28 |
2,000 | - | - | - | 0 | 60 | - | - | - | |
29/58 |
184,855 | 70,357 | 91,957 | 42,285 | 37,539 | 31,543 | 43,447 | 85,995 | 39,488 | |
40/41 |
23,164 | 19,212 | 27,278 | 22,319 | 27,043 | 20,507 | 35,992 | 55,416 | 6,772 | |
40 |
23,164 | 19,165 | 24,775 | 18,000 | 25,952 | 20,507 | 35,992 | 41,054 | 262 | |
41 |
- | 47 | 2,503 | 4,319 | 1,091 | - | - | 14,362 | 6,509 | |
54/58 |
161,691 | 51,145 | 64,679 | 19,966 | 10,496 | 11,036 | 6,826 | 30,579 | 32,716 | |
490/1 |
- | - | - | - | - | 0 | 629 | - | - | |
| Balance sheet: equity and liabilities | ||||||||||
10/49 |
193,721 | 76,933 | 102,011 | 42,285 | 37,539 | 31,819 | 43,879 | 86,642 | 40,352 | |
10/15 |
136,962 | 69,456 | 58,083 | 34,971 | -26,262 | -32,271 | -21,227 | -22,052 | -31,524 | |
10/11 |
75,000 | 75,000 | 75,000 | 75,000 | 18,600 | 18,600 | 18,600 | 18,600 | 15,500 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | - | - | 3,100 | |
13 |
61,000 | - | - | - | - | - | - | - | - | |
133 |
61,000 | - | - | - | - | - | - | - | - | |
14 |
962 | -5,544 | -16,917 | -40,029 | -44,862 | -50,871 | -39,827 | -40,652 | -47,024 | |
17/49 |
56,758 | 7,476 | 43,927 | 7,314 | 63,801 | 64,090 | 65,106 | 108,694 | 71,875 | |
17 |
3 | - | - | - | 56,400 | 56,400 | 56,400 | 56,400 | 56,400 | |
170/4 |
3 | - | - | - | 56,400 | 56,400 | 56,400 | 56,400 | 56,400 | |
42/48 |
56,756 | 7,476 | 43,927 | 7,314 | 7,401 | 7,690 | 8,706 | 52,294 | 15,475 | |
44 |
10,669 | - | 42,715 | 6,102 | 2,322 | 6,094 | 5,285 | 52,294 | 15,475 | |
440/4 |
10,669 | - | 1,908 | 6,102 | 2,322 | 6,094 | 5,285 | 52,294 | 15,475 | |
441 |
- | - | 40,807 | - | - | - | - | - | - | |
45 |
45,088 | 6,264 | - | - | 3,867 | 428 | 3,420 | - | - | |
450/3 |
31,025 | 1,758 | - | - | 3,867 | 428 | 3,420 | - | - | |
454/9 |
14,064 | 4,507 | - | - | - | - | - | - | - | |
47/48 |
998 | 1,212 | 1,212 | 1,212 | 1,212 | 1,169 | - | - | - | |
| Income statement | ||||||||||
9900 |
180,349 | 36,470 | 24,579 | 7,034 | 6,821 | -10,355 | 1,577 | 6,803 | -43,029 | |
62 |
79,750 | 18,082 | - | - | - | - | - | - | - | |
630 |
3,873 | 3,478 | 486 | 1,729 | 216 | 216 | 216 | 216 | 216 | |
640/8 |
907 | 118 | 493 | 450 | 421 | 402 | 348 | - | - | |
66A |
- | - | - | - | 60 | - | - | - | - | |
9901 |
95,820 | 14,793 | 23,599 | 4,855 | 6,125 | -10,973 | 1,014 | 6,587 | -43,245 | |
75/76B |
8,252 | 1,641 | 3,313 | 115 | 16 | 0 | 10 | 514 | - | |
75 |
8,252 | 1,641 | 3,313 | 115 | 16 | 0 | 10 | 514 | - | |
65/66B |
10,445 | 3,561 | 3,799 | 137 | 132 | 71 | 199 | 729 | 3,779 | |
65 |
10,445 | 3,561 | 3,799 | 137 | 132 | 71 | 199 | 729 | 3,779 | |
9903 |
93,626 | 12,873 | 23,113 | 4,833 | 6,009 | -11,044 | 825 | 6,372 | -47,024 | |
67/77 |
26,120 | 1,500 | - | - | - | - | - | - | - | |
9904 |
67,506 | 11,373 | 23,113 | 4,833 | 6,009 | -11,044 | 825 | 6,372 | -47,024 | |
9905 |
67,506 | 11,373 | 23,113 | 4,833 | 6,009 | -11,044 | 825 | 6,372 | -47,024 | |
| Appropriation of the result | ||||||||||
9906 |
61,962 | -5,544 | -16,917 | -40,029 | -44,862 | -50,871 | -39,827 | -40,652 | -47,024 | |
14P |
-5,544 | -16,917 | -40,029 | -44,862 | -50,871 | - | - | - | - | |
691/2 |
61,000 | - | - | - | - | - | - | - | - | |
6921 |
61,000 | - | - | - | - | - | - | - | - | |
| Social balance sheet | ||||||||||
9087 |
2.1 | 1 | - | - | - | - | - | - | - | |
Hours worked1013 |
3,848 | 1,163 | - | - | - | - | - | - | - | |
| Document | ||||||||||
The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 29-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-06-2026 | 2026-00262785 | |
| 31-12-2024 | micro format | 24-06-2025 | 2025-00171686 | |
| 31-12-2023 | micro format | 17-06-2024 | 2024-00146367 | |
| 31-12-2022 | micro format | 27-06-2023 | 2023-00169813 | |
| 31-12-2021 | micro format | 02-06-2022 | 2022-20043770 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-64300539 | |
| 31-12-2019 | micro format | 02-07-2020 | 2020-26700249 | |
| 31-12-2018 | micro format | 22-07-2019 | 2019-37400104 | |
| 31-12-2017 | micro format | 23-07-2018 | 2018-36700039 |
Subsidies and aid
Flemish government 2023 to 2025, 6 entries, €34,478 awarded, €33,480 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 3 | €998 | €12,240 |
| 2024 | 1 | €0 | €12,240 |
| 2023 | 2 | €33,480 | €9,000 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| 99,692 | 18,271 | 24,085 | 6,584 | 6,341 | -10,757 | 1,230 | 6,803 | -43,029 | ||
| 71,379 | 14,851 | 23,599 | 6,562 | 6,225 | -10,828 | 1,041 | 6,588 | -46,808 | ||
| 6,163 | 0 | 10,540 | 1,729 | 156 | -156 | 0 | 0 | - | ||
| 110,546 | -13,534 | 44,714 | 9,470 | -541 | 4,210 | -23,753 | -2,137 | - | ||
| 128,099 | 62,881 | 48,030 | 34,971 | 30,138 | 23,853 | 34,741 | 33,700 | 24,012 | ||
| 70.7% | 90.3% | 56.9% | 82.7% | -70.0% | -101.4% | -48.4% | -25.5% | -78.1% | ||
| 3.26 | 9.41 | 2.09 | 5.78 | 5.07 | 4.10 | 4.99 | 1.64 | 2.55 | ||
| 0.41 | 0.11 | 0.76 | 0.21 | - | - | - | - | - | ||
| 49.3% | 16.4% | 39.8% | 13.8% | - | - | - | - | - | ||
| 34.8% | 14.8% | 22.7% | 11.4% | 16.0% | -34.7% | 1.9% | 7.4% | -116.5% | ||
| 9.54 | 5.13 | 6.34 | 48.06 | 47.86 | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 |
|---|---|---|
| Employees at the balance-sheet date | 2 | 1 |
| full-time | 2 | 1 |
| in full-time equivalents | 2 | 1 |
| 2.1 | 1 | |
| On a permanent contract | 2 | 1 |
| Joined | 1 | 1 |
| Left | 1 | 0 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,163 | - | €10,540 | - | - |
| Financial fixed assets | €2,000 | - | - | - | - |
| €3,873 | €3,478 | €486 | €1,729 | €216 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on PINE
The operating result for 2025 is 6.5 times that of 2024 and the highest since 2017. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total rises from 9.7% to 29.3%. Equity and debt are higher.