PINAP: 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.
PINAP
Largest movements
- Cash +€37,519
up €37,519 (+56.0%), from €66,942 to €104,461
mainly Net result for the year (+€58,979) and Receivables within one year (+€13,227)
- Tangible fixed assets +€24,868
up €24,868 (+228.9%), from €10,863 to €35,731
of which Furniture and vehicles: +€23,694
- Stocks and contracts +€13,459
new in 2025: €13,459
- Receivables within one year -€13,227
down €13,227 (-40.6%), from €32,594 to €19,366
of which Trade receivables: -€13,010
- Reserves +€58,979
up €58,979 (+58.1%), from €101,545 to €160,525
- Trade debts +€3,077
up €3,077 (+92.2%), from €3,338 to €6,415
- Gross operating margin +€6,143
up €6,143 (+6.9%), from €88,607 to €94,750
- Depreciation -€2,198
down €2,198 (-62.9%), from €3,496 to €1,298
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 | €111,356 | €173,334 | +€61,978 | +55.7% |
| Fixed assets | 21/28 | €10,863 | €35,731 | +€24,868 | +228.9% |
| Tangible fixed assets | 22/27 | €10,863 | €35,731 | +€24,868 | +228.9% |
| Plant, machinery and equipment | 23 | - | €1,174 | +€1,174 | |
| Furniture and vehicles | 24 | €10,863 | €34,558 | +€23,694 | +218.1% |
| Current assets | 29/58 | €100,492 | €137,602 | +€37,110 | +36.9% |
| Stocks and contracts in progress | 3 | - | €13,459 | +€13,459 | |
| Stocks | 30/36 | - | €13,459 | +€13,459 | |
| Amounts receivable within one year | 40/41 | €32,594 | €19,366 | -€13,227 | -40.6% |
| Trade receivables | 40 | €32,376 | €19,366 | -€13,010 | -40.2% |
| Other amounts receivable | 41 | €217 | €0 | -€217 | -100.0% |
| Cash at bank and in hand | 54/58 | €66,942 | €104,461 | +€37,519 | +56.0% |
| Deferred charges and accrued income | 490/1 | €956 | €316 | -€641 | -67.0% |
| Total equity and liabilities | 10/49 | €111,356 | €173,334 | +€61,978 | +55.7% |
| Equity | 10/15 | €104,545 | €163,525 | +€58,979 | +56.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €101,545 | €160,525 | +€58,979 | +58.1% |
| Distributable reserves | 133 | €101,545 | €160,525 | +€58,979 | +58.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €6,810 | €9,809 | +€2,999 | +44.0% |
| Amounts payable within one year | 42/48 | €6,810 | €9,809 | +€2,999 | +44.0% |
| Trade debts | 44 | €3,338 | €6,415 | +€3,077 | +92.2% |
| Suppliers | 440/4 | €3,338 | €6,415 | +€3,077 | +92.2% |
| Taxes, remuneration and social security | 45 | €3,290 | €2,640 | -€650 | -19.8% |
| Taxes | 450/3 | €3,290 | €2,640 | -€650 | -19.8% |
| Other amounts payable | 47/48 | €183 | €755 | +€572 | +312.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,496 | €1,298 | -€2,198 | -62.9% |
| Other operating charges | 640/8 | €553 | €478 | -€75 | -13.6% |
| Non-recurring operating charges | 66A | - | €9,166 | +€9,166 | |
| Gross operating margin | 9900 | €88,607 | €94,750 | +€6,143 | +6.9% |
| Operating profit (loss) | 9901 | €84,558 | €83,808 | -€750 | -0.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €34 | €51 | +€17 | +49.8% |
| Recurring financial charges | 65 | €34 | €51 | +€17 | +49.8% |
| Profit (loss) for the period before taxes | 9903 | €84,524 | €83,757 | -€767 | -0.9% |
| Income taxes | 67/77 | €24,793 | €24,778 | -€15 | -0.1% |
| Profit (loss) for the period | 9904 | €59,731 | €58,979 | -€752 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €59,731 | €58,979 | -€752 | -1.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.