PIMAREL: 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.
PIMAREL
Largest movements
- Tangible fixed assets +€29,729
up €29,729 (+7.4%), from €403,487 to €433,216
of which Land and buildings: +€43,148
- Cash -€9,630
down €9,630 (-11.4%), from €84,688 to €75,059
mainly Investment in fixed assets (net) (-€72,740) and Receivables within one year (-€2,302)
- Reserves +€69,455
up €69,455 (+160%), from €43,278 to €112,733
of which Distributable reserves: +€69,455
- Profit (loss) carried forward -€55,155
down €55,155 (-100%), from €55,155 to €0
- Tax, wage and social debts +€7,358
new in 2025: €7,358
- Gross operating margin +€30,567
up €30,567 (+65.3%), from €46,778 to €77,344
- Depreciation +€9,741
up €9,741 (+29.3%), from €33,271 to €43,012
- Taxes +€7,096
up €7,096 (+1,920%), from €369 to €7,465
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 | €490,806 | €513,207 | +€22,402 | +4.6% |
| Fixed assets | 21/28 | €403,487 | €433,216 | +€29,729 | +7.4% |
| Tangible fixed assets | 22/27 | €403,487 | €433,216 | +€29,729 | +7.4% |
| Land and buildings | 22 | €373,562 | €416,710 | +€43,148 | +11.6% |
| Plant, machinery and equipment | 23 | €1,695 | €1,451 | -€244 | -14.4% |
| Furniture and vehicles | 24 | €28,230 | €15,055 | -€13,175 | -46.7% |
| Current assets | 29/58 | €87,319 | €79,992 | -€7,327 | -8.4% |
| Amounts receivable within one year | 40/41 | €2,631 | €4,933 | +€2,302 | +87.5% |
| Trade receivables | 40 | €0 | €4,235 | +€4,235 | |
| Other amounts receivable | 41 | €2,631 | €698 | -€1,933 | -73.5% |
| Cash at bank and in hand | 54/58 | €84,688 | €75,059 | -€9,630 | -11.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €490,806 | €513,207 | +€22,402 | +4.6% |
| Equity | 10/15 | €454,892 | €469,191 | +€14,300 | +3.1% |
| Contributions | 10/11 | €356,458 | €356,458 | = | 0.0% |
| Reserves | 13 | €43,278 | €112,733 | +€69,455 | +160% |
| Tax-exempt reserves | 132 | €5,892 | €5,892 | = | 0.0% |
| Distributable reserves | 133 | €37,386 | €106,841 | +€69,455 | +186% |
| Profit (loss) carried forward | 14 | €55,155 | €0 | -€55,155 | -100% |
| Amounts payable | 17/49 | €35,914 | €44,016 | +€8,102 | +22.6% |
| Amounts payable within one year | 42/48 | €33,447 | €41,773 | +€8,326 | +24.9% |
| Trade debts | 44 | €2,568 | €2,000 | -€567 | -22.1% |
| Suppliers | 440/4 | €2,568 | €2,000 | -€567 | -22.1% |
| Taxes, remuneration and social security | 45 | - | €7,358 | +€7,358 | |
| Taxes | 450/3 | - | €7,358 | +€7,358 | |
| Other amounts payable | 47/48 | €30,879 | €32,414 | +€1,535 | +5.0% |
| Accrued charges and deferred income | 492/3 | €2,467 | €2,244 | -€224 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,271 | €43,012 | +€9,741 | +29.3% |
| Other operating charges | 640/8 | €8,805 | €8,481 | -€325 | -3.7% |
| Gross operating margin | 9900 | €46,778 | €77,344 | +€30,567 | +65.3% |
| Operating profit (loss) | 9901 | €4,702 | €25,852 | +€21,150 | +450% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,592 | €2,421 | -€171 | -6.6% |
| Recurring financial charges | 65 | €2,592 | €2,421 | -€171 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €2,110 | €23,431 | +€21,321 | +1,011% |
| Income taxes | 67/77 | €369 | €7,465 | +€7,096 | +1,920% |
| Profit (loss) for the period | 9904 | €1,740 | €15,966 | +€14,226 | +818% |
| Profit (loss) for the period to be appropriated | 9905 | €1,740 | €15,966 | +€14,226 | +818% |
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 27 October 2026 via checked.be.