PINA: what changed
Two fiscal 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.
PINA
Largest movements
- Tangible fixed assets -€14,588
down €14,588 (-27.1%), from €53,824 to €39,236
of which Leasing and similar rights: -€21,574
- Receivables within one year +€8,707
up €8,707 (+763.9%), from €1,140 to €9,847
of which Trade receivables: +€7,043
- Cash +€5,265
up €5,265 (+153.9%), from €3,422 to €8,687
mainly Net result for the year (+€23,194) and Investment in fixed assets (net) (+€7,690)
- Profit (loss) carried forward +€23,194
up €23,194 (+43.3%), from -€53,568 to -€30,374
- Debts after one year -€13,747
no longer reported in 2025 (was €13,747)
- Current portion of long-term debt -€7,808
no longer reported in 2025 (was €7,808)
- Other debts -€5,428
down €5,428 (-9.6%), from €56,602 to €51,174
- Tax, wage and social debts +€1,590
up €1,590 (+55.8%), from €2,848 to €4,439
- Gross operating margin +€9,564
up €9,564 (+38.6%), from €24,773 to €34,337
- Depreciation -€8,602
down €8,602 (-55.5%), from €15,500 to €6,898
- Financial charges +€1,438
up €1,438 (+109.8%), from €1,309 to €2,748
- Other operating charges -€923
down €923 (-38.1%), from €2,422 to €1,499
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.
Cash bridge derived
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 | €59,058 | €57,895 | -€1,163 | -2.0% |
| Fixed assets | 21/28 | €53,824 | €39,236 | -€14,588 | -27.1% |
| Tangible fixed assets | 22/27 | €53,824 | €39,236 | -€14,588 | -27.1% |
| Land and buildings | 22 | €18,737 | €27,703 | +€8,966 | +47.9% |
| Plant, machinery and equipment | 23 | €2,707 | €4,878 | +€2,171 | +80.2% |
| Furniture and vehicles | 24 | €10,807 | €6,655 | -€4,152 | -38.4% |
| Leasing and similar rights | 25 | €21,574 | - | -€21,574 | |
| Current assets | 29/58 | €5,233 | €18,659 | +€13,425 | +256.5% |
| Amounts receivable within one year | 40/41 | €1,140 | €9,847 | +€8,707 | +763.9% |
| Trade receivables | 40 | €1,140 | €8,183 | +€7,043 | +617.9% |
| Other amounts receivable | 41 | - | €1,664 | +€1,664 | |
| Cash at bank and in hand | 54/58 | €3,422 | €8,687 | +€5,265 | +153.9% |
| Deferred charges and accrued income | 490/1 | €671 | €125 | -€547 | -81.4% |
| Total equity and liabilities | 10/49 | €59,058 | €57,895 | -€1,163 | -2.0% |
| Equity | 10/15 | -€23,671 | -€477 | +€23,194 | +98.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €23,697 | €23,697 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €21,697 | €21,697 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,568 | -€30,374 | +€23,194 | +43.3% |
| Amounts payable | 17/49 | €82,729 | €58,371 | -€24,357 | -29.4% |
| Amounts payable after more than one year | 17 | €13,747 | - | -€13,747 | |
| Financial debts | 170/4 | €13,747 | - | -€13,747 | |
| Amounts payable within one year | 42/48 | €68,981 | €58,371 | -€10,610 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €7,808 | - | -€7,808 | |
| Trade debts | 44 | €1,723 | €2,759 | +€1,035 | +60.1% |
| Suppliers | 440/4 | €1,723 | €2,759 | +€1,035 | +60.1% |
| Taxes, remuneration and social security | 45 | €2,848 | €4,439 | +€1,590 | +55.8% |
| Taxes | 450/3 | €2,848 | €4,439 | +€1,590 | +55.8% |
| Other amounts payable | 47/48 | €56,602 | €51,174 | -€5,428 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,500 | €6,898 | -€8,602 | -55.5% |
| Other operating charges | 640/8 | €2,422 | €1,499 | -€923 | -38.1% |
| Gross operating margin | 9900 | €24,773 | €34,337 | +€9,564 | +38.6% |
| Operating profit (loss) | 9901 | €6,851 | €25,940 | +€19,089 | +278.6% |
| Financial income | 75/76B | €1 | €1 | -€0 | -1.4% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -1.4% |
| Financial charges | 65/66B | €1,309 | €2,748 | +€1,438 | +109.8% |
| Recurring financial charges | 65 | €1,309 | €2,748 | +€1,438 | +109.8% |
| Profit (loss) for the period before taxes | 9903 | €5,543 | €23,194 | +€17,651 | +318.4% |
| Profit (loss) for the period | 9904 | €5,543 | €23,194 | +€17,651 | +318.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,543 | €23,194 | +€17,651 | +318.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.