Pinaxis: 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.
Pinaxis
Largest movements
- Cash -€35,837
down €35,837 (-75.0%), from €47,795 to €11,958
mainly Contributions, distributions and other (-€55,583) and Other debts (-€35,613)
- Receivables within one year +€4,241
up €4,241 (+23.0%), from €18,406 to €22,647
of which Trade receivables: +€4,502
- Tangible fixed assets -€1,861
down €1,861 (-15.9%), from €11,681 to €9,821
of which Furniture and vehicles: -€1,647
- Deferred charges and accrued income +€1,269
up €1,269 (+41.2%), from €3,081 to €4,350
- Other debts -€35,613
down €35,613 (-59.2%), from €60,139 to €24,526
- Trade debts +€2,548
up €2,548 (+111%), from €2,298 to €4,847
- Tax, wage and social debts +€877
up €877 (+7.3%), from €12,027 to €12,903
- Gross operating margin -€3,941
down €3,941 (-5.0%), from €78,890 to €74,950
- Taxes -€1,155
down €1,155 (-7.2%), from €16,142 to €14,987
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 | €80,964 | €48,776 | -€32,188 | -39.8% |
| Fixed assets | 21/28 | €11,681 | €9,821 | -€1,861 | -15.9% |
| Tangible fixed assets | 22/27 | €11,681 | €9,821 | -€1,861 | -15.9% |
| Land and buildings | 22 | €4,859 | €4,259 | -€600 | -12.4% |
| Plant, machinery and equipment | 23 | €1,808 | €2,194 | +€386 | +21.4% |
| Furniture and vehicles | 24 | €5,015 | €3,368 | -€1,647 | -32.8% |
| Current assets | 29/58 | €69,283 | €38,955 | -€30,327 | -43.8% |
| Amounts receivable within one year | 40/41 | €18,406 | €22,647 | +€4,241 | +23.0% |
| Trade receivables | 40 | €16,764 | €21,267 | +€4,502 | +26.9% |
| Other amounts receivable | 41 | €1,642 | €1,380 | -€262 | -15.9% |
| Cash at bank and in hand | 54/58 | €47,795 | €11,958 | -€35,837 | -75.0% |
| Deferred charges and accrued income | 490/1 | €3,081 | €4,350 | +€1,269 | +41.2% |
| Total equity and liabilities | 10/49 | €80,964 | €48,776 | -€32,188 | -39.8% |
| Equity | 10/15 | €6,500 | €6,500 | = | 0.0% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Amounts payable | 17/49 | €74,464 | €42,276 | -€32,188 | -43.2% |
| Amounts payable within one year | 42/48 | €74,464 | €42,276 | -€32,188 | -43.2% |
| Trade debts | 44 | €2,298 | €4,847 | +€2,548 | +111% |
| Suppliers | 440/4 | €2,298 | €4,847 | +€2,548 | +111% |
| Taxes, remuneration and social security | 45 | €12,027 | €12,903 | +€877 | +7.3% |
| Taxes | 450/3 | €12,027 | €12,903 | +€877 | +7.3% |
| Other amounts payable | 47/48 | €60,139 | €24,526 | -€35,613 | -59.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,059 | €3,290 | +€230 | +7.5% |
| Other operating charges | 640/8 | €1,107 | €785 | -€323 | -29.1% |
| Gross operating margin | 9900 | €78,890 | €74,950 | -€3,941 | -5.0% |
| Operating profit (loss) | 9901 | €74,724 | €70,875 | -€3,849 | -5.2% |
| Financial income | 75/76B | €31 | €58 | +€27 | +88.8% |
| Recurring financial income | 75 | €31 | €58 | +€27 | +88.8% |
| Financial charges | 65/66B | €431 | €362 | -€68 | -15.9% |
| Recurring financial charges | 65 | €431 | €362 | -€68 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €74,324 | €70,570 | -€3,753 | -5.0% |
| Income taxes | 67/77 | €16,142 | €14,987 | -€1,155 | -7.2% |
| Profit (loss) for the period | 9904 | €58,181 | €55,583 | -€2,598 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €58,181 | €55,583 | -€2,598 | -4.5% |
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 18 October 2026 via checked.be.