PAIN LOI: 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.
PAIN LOI
Largest movements
- Cash +€106,096
up €106,096 (+166%), from €63,809 to €169,904
mainly Current investments (+€100,000) and Depreciation (+€8,630)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Receivables within one year +€6,239
up €6,239 (+35.0%), from €17,806 to €24,045
of which Other amounts receivable: +€4,307
- Profit (loss) carried forward +€9,653
up €9,653 (+92.8%), from €10,398 to €20,051
- Other debts +€5,971
up €5,971 (+70.3%), from €8,488 to €14,460
- Debts after one year -€4,593
down €4,593 (-11.4%), from €40,242 to €35,649
- Financial charges -€3,034
down €3,034 (-56.4%), from €5,383 to €2,349
- Financial income +€1,926
up €1,926 (+133%), from €1,446 to €3,372
- Taxes +€1,214
up €1,214 (+78.9%), from €1,539 to €2,753
- Depreciation +€1,037
up €1,037 (+13.7%), from €7,593 to €8,630
- Gross operating margin +€278
up €278 (+1.5%), from €18,241 to €18,519
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 | €357,534 | €366,635 | +€9,100 | +2.5% |
| Fixed assets | 21/28 | €175,919 | €172,685 | -€3,234 | -1.8% |
| Tangible fixed assets | 22/27 | €175,919 | €172,685 | -€3,234 | -1.8% |
| Land and buildings | 22 | €154,544 | €149,987 | -€4,557 | -2.9% |
| Furniture and vehicles | 24 | €1,310 | €2,200 | +€890 | +68.0% |
| Other tangible fixed assets | 26 | €20,066 | €20,498 | +€432 | +2.2% |
| Current assets | 29/58 | €181,615 | €193,949 | +€12,335 | +6.8% |
| Amounts receivable within one year | 40/41 | €17,806 | €24,045 | +€6,239 | +35.0% |
| Trade receivables | 40 | €9,911 | €11,843 | +€1,932 | +19.5% |
| Other amounts receivable | 41 | €7,895 | €12,202 | +€4,307 | +54.6% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €63,809 | €169,904 | +€106,096 | +166% |
| Total equity and liabilities | 10/49 | €357,534 | €366,635 | +€9,100 | +2.5% |
| Equity | 10/15 | €269,182 | €277,009 | +€7,827 | +2.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €197,285 | €195,458 | -€1,827 | -0.9% |
| Tax-exempt reserves | 132 | €52,285 | €50,458 | -€1,827 | -3.5% |
| Distributable reserves | 133 | €145,000 | €145,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,398 | €20,051 | +€9,653 | +92.8% |
| Provisions and deferred taxes | 16 | €13,069 | €12,612 | -€457 | -3.5% |
| Deferred taxes | 168 | €13,069 | €12,612 | -€457 | -3.5% |
| Amounts payable | 17/49 | €75,283 | €77,014 | +€1,731 | +2.3% |
| Amounts payable after more than one year | 17 | €40,242 | €35,649 | -€4,593 | -11.4% |
| Financial debts | 170/4 | €40,242 | €35,649 | -€4,593 | -11.4% |
| Amounts payable within one year | 42/48 | €26,384 | €32,111 | +€5,727 | +21.7% |
| Current portion of amounts payable after more than one year | 42 | €4,433 | €4,593 | +€160 | +3.6% |
| Financial debts | 43 | €3,041 | - | -€3,041 | |
| Credit institutions | 430/8 | €3,041 | - | -€3,041 | |
| Trade debts | 44 | €7,724 | €10,735 | +€3,011 | +39.0% |
| Suppliers | 440/4 | €7,724 | €10,735 | +€3,011 | +39.0% |
| Taxes, remuneration and social security | 45 | €2,698 | €2,324 | -€374 | -13.9% |
| Taxes | 450/3 | €2,698 | €2,324 | -€374 | -13.9% |
| Other amounts payable | 47/48 | €8,488 | €14,460 | +€5,971 | +70.3% |
| Accrued charges and deferred income | 492/3 | €8,656 | €9,253 | +€596 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,593 | €8,630 | +€1,037 | +13.7% |
| Other operating charges | 640/8 | €990 | €789 | -€200 | -20.2% |
| Gross operating margin | 9900 | €18,241 | €18,519 | +€278 | +1.5% |
| Operating profit (loss) | 9901 | €9,658 | €9,099 | -€559 | -5.8% |
| Financial income | 75/76B | €1,446 | €3,372 | +€1,926 | +133% |
| Recurring financial income | 75 | €1,446 | €3,372 | +€1,926 | +133% |
| Financial charges | 65/66B | €5,383 | €2,349 | -€3,034 | -56.4% |
| Recurring financial charges | 65 | €5,383 | €2,349 | -€3,034 | -56.4% |
| Profit (loss) for the period before taxes | 9903 | €5,722 | €10,123 | +€4,401 | +76.9% |
| Transfer from deferred taxes | 780 | €457 | €457 | = | 0.0% |
| Income taxes | 67/77 | €1,539 | €2,753 | +€1,214 | +78.9% |
| Profit (loss) for the period | 9904 | €4,639 | €7,827 | +€3,187 | +68.7% |
| Transfer from tax-exempt reserves | 789 | €1,827 | €1,827 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,466 | €9,653 | +€3,187 | +49.3% |
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 31 October 2026 via checked.be.