PINCEMAILLE: 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.
What changed
PINCEMAILLE
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€19,768
2024 · €25,144-€5,376
Equity
€848,980
2024 · €944,212-€95,232
Cash
€233,730
2024 · €235,245-€1,515
Balance sheet total
€1.1m
2024 · €1.1m-€22,035
Largest movements
Assets
- Tangible fixed assets -€33,743
down €33,743 (-5.8%), from €583,336 to €549,593
of which Furniture and vehicles: -€27,987
Equity and liabilities
- Other debts +€103,292
up €103,292 (+738%), from €14,000 to €117,292
- Profit (loss) carried forward -€95,232
down €95,232 (-14.2%), from €669,212 to €573,980
- Debts after one year -€26,600
down €26,600 (-34.8%), from €76,386 to €49,786
Income statement
- Gross operating margin +€30,288
up €30,288 (+58.1%), from €52,148 to €82,435
- Depreciation +€22,690
up €22,690 (+205%), from €11,053 to €33,743
- Financial income -€11,125
down €11,125 (-94.8%), from €11,736 to €610
of which Financial income: -€8,646
- Other operating charges -€4,257
down €4,257 (-29.7%), from €14,332 to €10,074
- Taxes +€3,896
up €3,896 (+47.3%), from €8,239 to €12,136
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.
Result 2024
€25,144
Gross operating margin
+€30,288
Depreciation
-€22,690
Other operating charges
+€4,257
Other operating items
-€3,000
Financial income
-€11,125
Financial charges
+€791
Taxes
-€3,896
Result 2025
€19,768
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€139,107
Investment
€0
Financing
-€140,622
Cash 2024
€235,245
From operations (derived)
+€139,107
Net result for the year
+€19,768
Depreciation
+€33,743
Receivables within one year
-€2,993
Deferred charges and accrued income
-€10,229
Trade debts
-€6,952
Tax, wage and social debts
+€2,812
Other debts
+€103,292
Accrued charges and deferred income
-€334
Financing
-€140,622
Debts after one year
-€26,600
Current portion of long-term debt
+€978
Contributions, distributions and other
-€115,000
Cash 2025
€233,730
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,075,998 | €1,053,963 | -€22,035 | -2.0% |
| Fixed assets | 21/28 | €583,336 | €549,593 | -€33,743 | -5.8% |
| Tangible fixed assets | 22/27 | €583,336 | €549,593 | -€33,743 | -5.8% |
| Land and buildings | 22 | €448,282 | €442,526 | -€5,756 | -1.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €135,054 | €107,067 | -€27,987 | -20.7% |
| Current assets | 29/58 | €492,662 | €504,369 | +€11,707 | +2.4% |
| Amounts receivable after more than one year | 29 | €182,000 | €182,000 | = | 0.0% |
| Other amounts receivable | 291 | €182,000 | €182,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €44,912 | €47,906 | +€2,993 | +6.7% |
| Trade receivables | 40 | €2,891 | €47,140 | +€44,249 | +1,531% |
| Other amounts receivable | 41 | €42,022 | €766 | -€41,255 | -98.2% |
| Cash at bank and in hand | 54/58 | €235,245 | €233,730 | -€1,515 | -0.6% |
| Deferred charges and accrued income | 490/1 | €30,505 | €40,734 | +€10,229 | +33.5% |
| Total equity and liabilities | 10/49 | €1,075,998 | €1,053,963 | -€22,035 | -2.0% |
| Equity | 10/15 | €944,212 | €848,980 | -€95,232 | -10.1% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €25,000 | €25,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €669,212 | €573,980 | -€95,232 | -14.2% |
| Amounts payable | 17/49 | €131,787 | €204,983 | +€73,196 | +55.5% |
| Amounts payable after more than one year | 17 | €76,386 | €49,786 | -€26,600 | -34.8% |
| Financial debts | 170/4 | €76,386 | €49,786 | -€26,600 | -34.8% |
| Amounts payable within one year | 42/48 | €51,693 | €151,823 | +€100,130 | +194% |
| Current portion of amounts payable after more than one year | 42 | €23,614 | €24,592 | +€978 | +4.1% |
| Trade debts | 44 | €13,333 | €6,381 | -€6,952 | -52.1% |
| Suppliers | 440/4 | €13,333 | €6,381 | -€6,952 | -52.1% |
| Taxes, remuneration and social security | 45 | €746 | €3,558 | +€2,812 | +377% |
| Taxes | 450/3 | €746 | €3,558 | +€2,812 | +377% |
| Other amounts payable | 47/48 | €14,000 | €117,292 | +€103,292 | +738% |
| Accrued charges and deferred income | 492/3 | €3,707 | €3,373 | -€334 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,053 | €33,743 | +€22,690 | +205% |
| Other operating charges | 640/8 | €14,332 | €10,074 | -€4,257 | -29.7% |
| Non-recurring operating charges | 66A | - | €3,000 | +€3,000 | |
| Gross operating margin | 9900 | €52,148 | €82,435 | +€30,288 | +58.1% |
| Operating profit (loss) | 9901 | €26,763 | €35,618 | +€8,855 | +33.1% |
| Financial income | 75/76B | €11,736 | €610 | -€11,125 | -94.8% |
| Recurring financial income | 75 | €9,256 | €610 | -€8,646 | -93.4% |
| Non-recurring financial income | 76B | €2,479 | €0 | -€2,479 | -100% |
| Financial charges | 65/66B | €5,115 | €4,324 | -€791 | -15.5% |
| Recurring financial charges | 65 | €901 | €4,324 | +€3,423 | +380% |
| Non-recurring financial charges | 66B | €4,214 | €0 | -€4,214 | -100% |
| Profit (loss) for the period before taxes | 9903 | €33,384 | €31,904 | -€1,480 | -4.4% |
| Income taxes | 67/77 | €8,239 | €12,136 | +€3,896 | +47.3% |
| Profit (loss) for the period | 9904 | €25,144 | €19,768 | -€5,376 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,144 | €19,768 | -€5,376 | -21.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.