PIMASTER: 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.
PIMASTER
Largest movements
- Receivables within one year +€44,207
up €44,207 (+621%), from €7,118 to €51,325
of which Other amounts receivable: +€41,840
- Tangible fixed assets -€4,047
down €4,047 (-21.8%), from €18,587 to €14,540
- Intangible fixed assets +€2,790
up €2,790 (+84.0%), from €3,320 to €6,110
- Cash +€1,324
up €1,324 (+51.0%), from €2,594 to €3,918
mainly Net result for the year (+€45,097) and Depreciation (+€6,000)
- Reserves +€45,097
up €45,097 (+279%), from €16,183 to €61,280
- Other debts -€6,948
no longer reported in 2025 (was €6,948)
- Tax, wage and social debts +€3,262
up €3,262 (+38.9%), from €8,376 to €11,638
- Trade debts +€2,950
up €2,950 (+171%), from €1,720 to €4,670
- Gross operating margin +€44,272
up €44,272 (+182%), from €24,311 to €68,583
- Taxes +€10,926
up €10,926 (+174%), from €6,270 to €17,196
- Depreciation +€4,815
up €4,815 (+406%), from €1,185 to €6,000
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 | €35,227 | €79,588 | +€44,361 | +126% |
| Formation expenses | 20 | €2,819 | €2,227 | -€592 | -21.0% |
| Fixed assets | 21/28 | €21,907 | €20,649 | -€1,258 | -5.7% |
| Intangible fixed assets | 21 | €3,320 | €6,110 | +€2,790 | +84.0% |
| Tangible fixed assets | 22/27 | €18,587 | €14,540 | -€4,047 | -21.8% |
| Furniture and vehicles | 24 | €18,587 | €14,540 | -€4,047 | -21.8% |
| Current assets | 29/58 | €10,501 | €56,712 | +€46,211 | +440% |
| Amounts receivable within one year | 40/41 | €7,118 | €51,325 | +€44,207 | +621% |
| Trade receivables | 40 | €7,118 | €9,486 | +€2,368 | +33.3% |
| Other amounts receivable | 41 | - | €41,840 | +€41,840 | |
| Cash at bank and in hand | 54/58 | €2,594 | €3,918 | +€1,324 | +51.0% |
| Deferred charges and accrued income | 490/1 | €789 | €1,469 | +€680 | +86.2% |
| Total equity and liabilities | 10/49 | €35,227 | €79,588 | +€44,361 | +126% |
| Equity | 10/15 | €18,183 | €63,280 | +€45,097 | +248% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €16,183 | €61,280 | +€45,097 | +279% |
| Distributable reserves | 133 | €16,183 | €61,280 | +€45,097 | +279% |
| Amounts payable | 17/49 | €17,044 | €16,308 | -€736 | -4.3% |
| Amounts payable within one year | 42/48 | €17,044 | €16,308 | -€736 | -4.3% |
| Trade debts | 44 | €1,720 | €4,670 | +€2,950 | +171% |
| Suppliers | 440/4 | €1,720 | €4,670 | +€2,950 | +171% |
| Taxes, remuneration and social security | 45 | €8,376 | €11,638 | +€3,262 | +38.9% |
| Taxes | 450/3 | €8,376 | €11,638 | +€3,262 | +38.9% |
| Other amounts payable | 47/48 | €6,948 | - | -€6,948 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,185 | €6,000 | +€4,815 | +406% |
| Other operating charges | 640/8 | €642 | €656 | +€14 | +2.2% |
| Gross operating margin | 9900 | €24,311 | €68,583 | +€44,272 | +182% |
| Operating profit (loss) | 9901 | €22,484 | €61,927 | +€39,443 | +175% |
| Financial income | 75/76B | - | €656 | +€656 | |
| Recurring financial income | 75 | - | €656 | +€656 | |
| Financial charges | 65/66B | €31 | €289 | +€258 | +831% |
| Recurring financial charges | 65 | €31 | €289 | +€258 | +831% |
| Profit (loss) for the period before taxes | 9903 | €22,453 | €62,294 | +€39,841 | +177% |
| Income taxes | 67/77 | €6,270 | €17,196 | +€10,926 | +174% |
| Profit (loss) for the period | 9904 | €16,183 | €45,097 | +€28,914 | +179% |
| Profit (loss) for the period to be appropriated | 9905 | €16,183 | €45,097 | +€28,914 | +179% |
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 17 October 2026 via checked.be.