de pinxi: 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.
de pinxi
Largest movements
- Cash +€47,025
up €47,025 (+15.3%), from €307,985 to €355,010
mainly Net result for the year (+€63,833) and Depreciation (+€45,606)
- Tangible fixed assets +€41,300
up €41,300 (+33.1%), from €124,661 to €165,960
of which Other tangible fixed assets: +€48,640
- Receivables within one year +€37,630
up €37,630 (+15.1%), from €248,492 to €286,122
of which Other amounts receivable: +€19,235
- Deferred charges and accrued income -€21,486
down €21,486 (-25.2%), from €85,355 to €63,869
- Intangible fixed assets -€17,150
down €17,150 (-98.7%), from €17,370 to €220
- Reserves +€45,000
up €45,000 (+84.9%), from €53,000 to €98,000
of which Distributable reserves: +€45,000
- Trade debts +€25,571
up €25,571 (+1170.1%), from €2,185 to €27,757
- Profit (loss) carried forward +€18,833
up €18,833 (+6.5%), from €287,696 to €306,529
- Debts after one year -€16,174
down €16,174 (-7.0%), from €229,901 to €213,727
- Short-term financial debts +€10,716
up €10,716 (+23.8%), from €44,958 to €55,675
- Gross operating margin +€128,712
up €128,712 (+21.7%), from €593,699 to €722,411
- Staff costs +€122,758
up €122,758 (+27.5%), from €446,686 to €569,444
- Other operating charges -€17,475
down €17,475 (-64.1%), from €27,268 to €9,794
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.
Cash bridge derived
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 | €789,170 | €876,490 | +€87,320 | +11.1% |
| Fixed assets | 21/28 | €147,339 | €171,489 | +€24,150 | +16.4% |
| Intangible fixed assets | 21 | €17,370 | €220 | -€17,150 | -98.7% |
| Tangible fixed assets | 22/27 | €124,661 | €165,960 | +€41,300 | +33.1% |
| Plant, machinery and equipment | 23 | €10,711 | €9,611 | -€1,099 | -10.3% |
| Furniture and vehicles | 24 | €14,012 | €7,771 | -€6,240 | -44.5% |
| Other tangible fixed assets | 26 | €99,938 | €148,578 | +€48,640 | +48.7% |
| Financial fixed assets | 28 | €5,308 | €5,308 | = | 0.0% |
| Current assets | 29/58 | €641,831 | €705,001 | +€63,170 | +9.8% |
| Amounts receivable within one year | 40/41 | €248,492 | €286,122 | +€37,630 | +15.1% |
| Trade receivables | 40 | €234,834 | €253,229 | +€18,395 | +7.8% |
| Other amounts receivable | 41 | €13,658 | €32,893 | +€19,235 | +140.8% |
| Cash at bank and in hand | 54/58 | €307,985 | €355,010 | +€47,025 | +15.3% |
| Deferred charges and accrued income | 490/1 | €85,355 | €63,869 | -€21,486 | -25.2% |
| Total equity and liabilities | 10/49 | €789,170 | €876,490 | +€87,320 | +11.1% |
| Equity | 10/15 | €470,696 | €534,529 | +€63,833 | +13.6% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Capital | 10 | €130,000 | €130,000 | = | 0.0% |
| Issued capital | 100 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €53,000 | €98,000 | +€45,000 | +84.9% |
| Non-distributable reserves | 130/1 | €13,000 | €13,000 | = | 0.0% |
| Legal reserve | 130 | €13,000 | €13,000 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €85,000 | +€45,000 | +112.5% |
| Profit (loss) carried forward | 14 | €287,696 | €306,529 | +€18,833 | +6.5% |
| Amounts payable | 17/49 | €318,474 | €341,960 | +€23,486 | +7.4% |
| Amounts payable after more than one year | 17 | €229,901 | €213,727 | -€16,174 | -7.0% |
| Other amounts payable | 178/9 | €229,901 | €213,727 | -€16,174 | -7.0% |
| Amounts payable within one year | 42/48 | €76,225 | €122,849 | +€46,624 | +61.2% |
| Financial debts | 43 | €44,958 | €55,675 | +€10,716 | +23.8% |
| Credit institutions | 430/8 | €44,958 | €55,675 | +€10,716 | +23.8% |
| Trade debts | 44 | €2,185 | €27,757 | +€25,571 | +1170.1% |
| Suppliers | 440/4 | €2,185 | €27,757 | +€25,571 | +1170.1% |
| Taxes, remuneration and social security | 45 | €29,081 | €39,418 | +€10,337 | +35.5% |
| Taxes | 450/3 | €29,062 | €39,418 | +€10,355 | +35.6% |
| Remuneration and social security | 454/9 | €19 | - | -€19 | |
| Accrued charges and deferred income | 492/3 | €12,348 | €5,385 | -€6,964 | -56.4% |
| Remuneration, social security and pensions | 62 | €446,686 | €569,444 | +€122,758 | +27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,135 | €45,606 | +€1,471 | +3.3% |
| Other operating charges | 640/8 | €27,268 | €9,794 | -€17,475 | -64.1% |
| Gross operating margin | 9900 | €593,699 | €722,411 | +€128,712 | +21.7% |
| Operating profit (loss) | 9901 | €75,610 | €97,568 | +€21,958 | +29.0% |
| Financial income | 75/76B | €703 | €948 | +€244 | +34.8% |
| Recurring financial income | 75 | €703 | €948 | +€244 | +34.8% |
| Financial charges | 65/66B | €11,559 | €8,946 | -€2,613 | -22.6% |
| Recurring financial charges | 65 | €11,559 | €8,946 | -€2,613 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €64,754 | €89,570 | +€24,815 | +38.3% |
| Income taxes | 67/77 | €20,149 | €25,736 | +€5,587 | +27.7% |
| Profit (loss) for the period | 9904 | €44,605 | €63,833 | +€19,228 | +43.1% |
| Profit (loss) for the period to be appropriated | 9905 | €44,605 | €63,833 | +€19,228 | +43.1% |
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 10 October 2026 via checked.be.