PINCEEL-SMETS: what changed
PINCEEL-SMETS
Largest movements
- Cash +€29,205
up €29,205 (+64.8%), from €45,067 to €74,272
mainly Net result for the year (+€31,796) and Receivables within one year (+€26,060)
- Receivables within one year -€26,060
down €26,060 (-65.9%), from €39,542 to €13,482
of which Trade receivables: -€30,000
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€100,131
down €100,131 (-99.8%), from €100,382 to €250
- Taxes -€7,754
down €7,754 (-34.3%), from €22,592 to €14,838
- Gross operating margin +€4,416
up €4,416 (+10.3%), from €42,965 to €47,380
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €558,990 | €559,012 | +€22 | 0.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €466,001 | €466,001 | = | 0.0% |
| Financial fixed assets | 28 | €466,001 | €466,001 | = | 0.0% |
| Current assets | 29/58 | €92,989 | €93,012 | +€22 | 0.0% |
| Amounts receivable within one year | 40/41 | €39,542 | €13,482 | -€26,060 | -65.9% |
| Trade receivables | 40 | €30,000 | - | -€30,000 | |
| Other amounts receivable | 41 | €9,542 | €13,482 | +€3,940 | +41.3% |
| Cash at bank and in hand | 54/58 | €45,067 | €74,272 | +€29,205 | +64.8% |
| Deferred charges and accrued income | 490/1 | €8,381 | €5,257 | -€3,124 | -37.3% |
| Total equity and liabilities | 10/49 | €558,990 | €559,012 | +€22 | 0.0% |
| Equity | 10/15 | €507,191 | €509,399 | +€2,208 | +0.4% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €432,191 | €434,399 | +€2,208 | +0.5% |
| Distributable reserves | 133 | €432,191 | €434,399 | +€2,208 | +0.5% |
| Amounts payable | 17/49 | €51,799 | €49,613 | -€2,186 | -4.2% |
| Amounts payable within one year | 42/48 | €51,799 | €49,613 | -€2,186 | -4.2% |
| Trade debts | 44 | €949 | €30 | -€919 | -96.8% |
| Suppliers | 440/4 | €949 | €30 | -€919 | -96.8% |
| Taxes, remuneration and social security | 45 | €19,731 | €19,995 | +€265 | +1.3% |
| Taxes | 450/3 | €15,272 | €19,995 | +€4,723 | +30.9% |
| Remuneration and social security | 454/9 | €4,459 | - | -€4,459 | |
| Other amounts payable | 47/48 | €31,119 | €29,588 | -€1,531 | -4.9% |
| Other operating charges | 640/8 | €505 | €595 | +€89 | +17.7% |
| Gross operating margin | 9900 | €42,965 | €47,380 | +€4,416 | +10.3% |
| Operating profit (loss) | 9901 | €42,459 | €46,786 | +€4,326 | +10.2% |
| Financial income | 75/76B | €100,382 | €250 | -€100,131 | -99.8% |
| Recurring financial income | 75 | €100,382 | €250 | -€100,131 | -99.8% |
| Financial charges | 65/66B | €409 | €402 | -€7 | -1.7% |
| Recurring financial charges | 65 | €409 | €402 | -€7 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €142,432 | €46,634 | -€95,798 | -67.3% |
| Income taxes | 67/77 | €22,592 | €14,838 | -€7,754 | -34.3% |
| Profit (loss) for the period | 9904 | €119,840 | €31,796 | -€88,044 | -73.5% |
| Profit (loss) for the period to be appropriated | 9905 | €119,840 | €31,796 | -€88,044 | -73.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.