PINAKES: 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.
PINAKES
Largest movements
- Receivables within one year -€133,679
down €133,679 (-23.1%), from €578,756 to €445,077
of which Trade receivables: -€288,634
- Cash -€16,888
down €16,888 (-5.1%), from €330,366 to €313,479
mainly Trade debts (-€219,311) and Investment in fixed assets (net) (-€9,750)
- Trade debts -€219,311
down €219,311 (-69.3%), from €316,339 to €97,028
- Profit (loss) carried forward +€81,712
up €81,712 (+23.3%), from €350,543 to €432,255
- Write-downs -€54,157
down €54,157, from €45,890 to -€8,267
- Gross operating margin -€52,088
down €52,088 (-10.5%), from €497,452 to €445,364
- Depreciation -€51,540
down €51,540 (-82.8%), from €62,222 to €10,682
- Taxes +€21,980
up €21,980 (+241.3%), from €9,109 to €31,089
- Staff costs +€20,159
up €20,159 (+6.5%), from €309,328 to €329,487
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €948,370 | €794,882 | -€153,488 | -16.2% |
| Fixed assets | 21/28 | €20,108 | €19,176 | -€932 | -4.6% |
| Intangible fixed assets | 21 | €19,808 | €18,876 | -€932 | -4.7% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €928,262 | €775,705 | -€152,556 | -16.4% |
| Amounts receivable within one year | 40/41 | €578,756 | €445,077 | -€133,679 | -23.1% |
| Trade receivables | 40 | €569,709 | €281,075 | -€288,634 | -50.7% |
| Other amounts receivable | 41 | €9,047 | €164,002 | +€154,955 | +1712.7% |
| Cash at bank and in hand | 54/58 | €330,366 | €313,479 | -€16,888 | -5.1% |
| Deferred charges and accrued income | 490/1 | €19,139 | €17,150 | -€1,989 | -10.4% |
| Total equity and liabilities | 10/49 | €948,370 | €794,882 | -€153,488 | -16.2% |
| Equity | 10/15 | €500,143 | €581,855 | +€81,712 | +16.3% |
| Contributions | 10/11 | €136,000 | €136,000 | = | 0.0% |
| Capital | 10 | €136,000 | €136,000 | = | 0.0% |
| Issued capital | 100 | €136,000 | €136,000 | = | 0.0% |
| Reserves | 13 | €13,600 | €13,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,600 | €13,600 | = | 0.0% |
| Legal reserve | 130 | €13,600 | €13,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €350,543 | €432,255 | +€81,712 | +23.3% |
| Amounts payable | 17/49 | €448,227 | €213,027 | -€235,200 | -52.5% |
| Amounts payable within one year | 42/48 | €442,440 | €213,027 | -€229,413 | -51.9% |
| Trade debts | 44 | €316,339 | €97,028 | -€219,311 | -69.3% |
| Suppliers | 440/4 | €316,339 | €97,028 | -€219,311 | -69.3% |
| Advances received on contracts in progress | 46 | - | €1,140 | +€1,140 | |
| Taxes, remuneration and social security | 45 | €123,732 | €114,859 | -€8,874 | -7.2% |
| Taxes | 450/3 | €88,038 | €74,221 | -€13,817 | -15.7% |
| Remuneration and social security | 454/9 | €35,694 | €40,638 | +€4,944 | +13.9% |
| Other amounts payable | 47/48 | €2,369 | - | -€2,369 | |
| Accrued charges and deferred income | 492/3 | €5,787 | - | -€5,787 | |
| Remuneration, social security and pensions | 62 | €309,328 | €329,487 | +€20,159 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,222 | €10,682 | -€51,540 | -82.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €45,890 | -€8,267 | -€54,157 | |
| Other operating charges | 640/8 | €960 | €968 | +€7 | +0.8% |
| Non-recurring operating charges | 66A | €50,003 | - | -€50,003 | |
| Gross operating margin | 9900 | €497,452 | €445,364 | -€52,088 | -10.5% |
| Operating profit (loss) | 9901 | €29,049 | €112,495 | +€83,446 | +287.3% |
| Financial income | 75/76B | €8,311 | €2,641 | -€5,670 | -68.2% |
| Recurring financial income | 75 | €8,311 | €2,641 | -€5,670 | -68.2% |
| Financial charges | 65/66B | €6,782 | €2,335 | -€4,447 | -65.6% |
| Recurring financial charges | 65 | €6,782 | €2,335 | -€4,447 | -65.6% |
| Profit (loss) for the period before taxes | 9903 | €30,578 | €112,801 | +€82,223 | +268.9% |
| Income taxes | 67/77 | €9,109 | €31,089 | +€21,980 | +241.3% |
| Profit (loss) for the period | 9904 | €21,470 | €81,712 | +€60,242 | +280.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,470 | €81,712 | +€60,242 | +280.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.