PIM CAPITAL: 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.
PIM CAPITAL
Largest movements
- Financial fixed assets -€150,000
down €150,000 (-100%), from €150,000 to €0
- Cash +€59,561
up €59,561 (+94.1%), from €63,284 to €122,845
mainly Investment in fixed assets (net) (+€148,659) and Net result for the year (+€33,881)
- Debts after one year -€105,753
down €105,753 (-86.0%), from €122,910 to €17,157
- Profit (loss) carried forward -€34,000
down €34,000 (-99.1%), from €34,312 to €312
- Reserves +€33,881
new in 2025: €33,881
- Other debts +€27,804
up €27,804 (+1,519%), from €1,830 to €29,634
- Current portion of long-term debt -€19,941
down €19,941 (-62.3%), from €31,996 to €12,055
- Gross operating margin +€26,560
up €26,560 (+70.5%), from €37,660 to €64,219
- Taxes +€8,712
up €8,712 (+94.2%), from €9,252 to €17,964
- Financial charges +€4,198
up €4,198 (+126%), from €3,325 to €7,523
- Depreciation +€877
up €877 (+288%), from €305 to €1,182
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €215,031 | €124,373 | -€90,659 | -42.2% |
| Fixed assets | 21/28 | €151,369 | €1,528 | -€149,841 | -99.0% |
| Tangible fixed assets | 22/27 | €1,369 | €1,528 | +€159 | +11.6% |
| Furniture and vehicles | 24 | €1,369 | €1,528 | +€159 | +11.6% |
| Financial fixed assets | 28 | €150,000 | €0 | -€150,000 | -100% |
| Current assets | 29/58 | €63,662 | €122,845 | +€59,182 | +93.0% |
| Amounts receivable within one year | 40/41 | €378 | - | -€378 | |
| Trade receivables | 40 | €378 | - | -€378 | |
| Cash at bank and in hand | 54/58 | €63,284 | €122,845 | +€59,561 | +94.1% |
| Total equity and liabilities | 10/49 | €215,031 | €124,373 | -€90,659 | -42.2% |
| Equity | 10/15 | €38,312 | €38,194 | -€119 | -0.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | - | €33,881 | +€33,881 | |
| Distributable reserves | 133 | - | €33,881 | +€33,881 | |
| Profit (loss) carried forward | 14 | €34,312 | €312 | -€34,000 | -99.1% |
| Amounts payable | 17/49 | €176,719 | €86,179 | -€90,540 | -51.2% |
| Amounts payable after more than one year | 17 | €122,910 | €17,157 | -€105,753 | -86.0% |
| Financial debts | 170/4 | €122,910 | €17,157 | -€105,753 | -86.0% |
| Amounts payable within one year | 42/48 | €53,809 | €69,021 | +€15,213 | +28.3% |
| Current portion of amounts payable after more than one year | 42 | €31,996 | €12,055 | -€19,941 | -62.3% |
| Trade debts | 44 | €3,435 | €2,516 | -€920 | -26.8% |
| Suppliers | 440/4 | €3,435 | €2,516 | -€920 | -26.8% |
| Taxes, remuneration and social security | 45 | €16,546 | €24,816 | +€8,269 | +50.0% |
| Taxes | 450/3 | €15,546 | €23,816 | +€8,269 | +53.2% |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €1,830 | €29,634 | +€27,804 | +1,519% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €305 | €1,182 | +€877 | +288% |
| Other operating charges | 640/8 | €3,893 | €3,669 | -€224 | -5.7% |
| Gross operating margin | 9900 | €37,660 | €64,219 | +€26,560 | +70.5% |
| Operating profit (loss) | 9901 | €33,462 | €59,369 | +€25,907 | +77.4% |
| Financial charges | 65/66B | €3,325 | €7,523 | +€4,198 | +126% |
| Recurring financial charges | 65 | €3,325 | €7,523 | +€4,198 | +126% |
| Profit (loss) for the period before taxes | 9903 | €30,137 | €51,846 | +€21,709 | +72.0% |
| Income taxes | 67/77 | €9,252 | €17,964 | +€8,712 | +94.2% |
| Profit (loss) for the period | 9904 | €20,885 | €33,881 | +€12,996 | +62.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,885 | €33,881 | +€12,996 | +62.2% |
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 22 October 2026 via checked.be.