Pettineo: what changed
Pettineo
Largest movements
- Receivables within one year +€48,499
up €48,499 (+32.8%), from €147,716 to €196,214
of which Other amounts receivable: +€28,037
- Cash -€5,772
down €5,772 (-12.0%), from €48,121 to €42,349
mainly Receivables within one year (-€48,499) and Investment in fixed assets (net) (-€21,810)
- Reserves +€20,535
up €20,535 (+19.5%), from €105,167 to €125,702
of which Distributable reserves: +€20,535
- Trade debts +€19,832
up €19,832 (+1,051%), from €1,888 to €21,720
- Current portion of long-term debt +€11,801
up €11,801 (+385%), from €3,068 to €14,870
- Other debts -€9,058
down €9,058 (-32.6%), from €27,776 to €18,718
- Gross operating margin +€11,285
up €11,285 (+19.0%), from €59,360 to €70,646
- Taxes +€3,382
up €3,382 (+29.4%), from €11,509 to €14,891
- Depreciation +€1,418
up €1,418 (+6.4%), from €22,226 to €23,644
- Financial income +€1,199
up €1,199 (+16.2%), from €7,419 to €8,618
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €393,640 | €434,534 | +€40,894 | +10.4% |
| Fixed assets | 21/28 | €178,275 | €176,442 | -€1,833 | -1.0% |
| Tangible fixed assets | 22/27 | €178,275 | €176,442 | -€1,833 | -1.0% |
| Land and buildings | 22 | €156,486 | €138,781 | -€17,704 | -11.3% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | 0.0% |
| Furniture and vehicles | 24 | €2,489 | €22,205 | +€19,715 | +792% |
| Other tangible fixed assets | 26 | €19,300 | €15,456 | -€3,844 | -19.9% |
| Current assets | 29/58 | €215,365 | €258,092 | +€42,727 | +19.8% |
| Amounts receivable after more than one year | 29 | €19,528 | €19,528 | = | 0.0% |
| Other amounts receivable | 291 | €19,528 | €19,528 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €147,716 | €196,214 | +€48,499 | +32.8% |
| Trade receivables | 40 | - | €20,462 | +€20,462 | |
| Other amounts receivable | 41 | €147,716 | €175,752 | +€28,037 | +19.0% |
| Cash at bank and in hand | 54/58 | €48,121 | €42,349 | -€5,772 | -12.0% |
| Total equity and liabilities | 10/49 | €393,640 | €434,534 | +€40,894 | +10.4% |
| Equity | 10/15 | €353,041 | €373,811 | +€20,770 | +5.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €105,167 | €125,702 | +€20,535 | +19.5% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,437 | €7,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €95,730 | €116,265 | +€20,535 | +21.5% |
| Profit (loss) carried forward | 14 | €229,325 | €229,560 | +€235 | +0.1% |
| Amounts payable | 17/49 | €40,599 | €60,722 | +€20,124 | +49.6% |
| Amounts payable within one year | 42/48 | €39,478 | €60,722 | +€21,245 | +53.8% |
| Current portion of amounts payable after more than one year | 42 | €3,068 | €14,870 | +€11,801 | +385% |
| Trade debts | 44 | €1,888 | €21,720 | +€19,832 | +1,051% |
| Suppliers | 440/4 | €1,888 | €21,720 | +€19,832 | +1,051% |
| Taxes, remuneration and social security | 45 | €6,745 | €5,414 | -€1,331 | -19.7% |
| Taxes | 450/3 | €6,745 | €5,414 | -€1,331 | -19.7% |
| Other amounts payable | 47/48 | €27,776 | €18,718 | -€9,058 | -32.6% |
| Accrued charges and deferred income | 492/3 | €1,121 | - | -€1,121 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,226 | €23,644 | +€1,418 | +6.4% |
| Other operating charges | 640/8 | €8,456 | €8,721 | +€265 | +3.1% |
| Gross operating margin | 9900 | €59,360 | €70,646 | +€11,285 | +19.0% |
| Operating profit (loss) | 9901 | €28,678 | €38,281 | +€9,603 | +33.5% |
| Financial income | 75/76B | €7,419 | €8,618 | +€1,199 | +16.2% |
| Recurring financial income | 75 | €7,419 | €8,618 | +€1,199 | +16.2% |
| Financial charges | 65/66B | €624 | €772 | +€148 | +23.7% |
| Recurring financial charges | 65 | €624 | €772 | +€148 | +23.7% |
| Profit (loss) for the period before taxes | 9903 | €35,473 | €46,126 | +€10,653 | +30.0% |
| Income taxes | 67/77 | €11,509 | €14,891 | +€3,382 | +29.4% |
| Profit (loss) for the period | 9904 | €23,964 | €31,235 | +€7,271 | +30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,964 | €31,235 | +€7,271 | +30.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.