PINCH: 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.
PINCH
Largest movements
- Receivables within one year +€96,654
up €96,654 (+152%), from €63,727 to €160,381
of which Other amounts receivable: +€101,250
- Cash -€49,914
down €49,914 (-32.3%), from €154,673 to €104,758
mainly Receivables within one year (-€96,654) and Debts after one year (-€26,722)
- Intangible fixed assets -€10,807
no longer reported in 2025 (was €10,807)
- Tangible fixed assets -€5,352
down €5,352 (-16.9%), from €31,705 to €26,353
of which Furniture and vehicles: -€3,462
- Profit (loss) carried forward +€80,437
up €80,437 (+9.8%), from -€821,516 to -€741,079
- Debts after one year -€26,722
down €26,722 (-9.9%), from €270,683 to €243,961
- Other debts -€22,165
no longer reported in 2025 (was €22,165)
- Gross operating margin -€2,706
down €2,706 (-2.6%), from €102,347 to €99,642
- Financial income +€1,250
up €1,250 (+6,249,900%), from €0 to €1,250
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 | €283,111 | €313,692 | +€30,581 | +10.8% |
| Fixed assets | 21/28 | €64,711 | €48,553 | -€16,159 | -25.0% |
| Intangible fixed assets | 21 | €10,807 | - | -€10,807 | |
| Tangible fixed assets | 22/27 | €31,705 | €26,353 | -€5,352 | -16.9% |
| Plant, machinery and equipment | 23 | €5,973 | €4,083 | -€1,890 | -31.6% |
| Furniture and vehicles | 24 | €25,732 | €22,270 | -€3,462 | -13.5% |
| Financial fixed assets | 28 | €22,200 | €22,200 | = | 0.0% |
| Current assets | 29/58 | €218,400 | €265,139 | +€46,740 | +21.4% |
| Amounts receivable within one year | 40/41 | €63,727 | €160,381 | +€96,654 | +152% |
| Trade receivables | 40 | €63,727 | €59,131 | -€4,596 | -7.2% |
| Other amounts receivable | 41 | - | €101,250 | +€101,250 | |
| Cash at bank and in hand | 54/58 | €154,673 | €104,758 | -€49,914 | -32.3% |
| Total equity and liabilities | 10/49 | €283,111 | €313,692 | +€30,581 | +10.8% |
| Equity | 10/15 | -€21,516 | €58,921 | +€80,437 | |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Capital | 10 | €800,000 | €800,000 | = | 0.0% |
| Issued capital | 100 | €800,000 | €800,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€821,516 | -€741,079 | +€80,437 | +9.8% |
| Amounts payable | 17/49 | €304,627 | €254,771 | -€49,856 | -16.4% |
| Amounts payable after more than one year | 17 | €270,683 | €243,961 | -€26,722 | -9.9% |
| Financial debts | 170/4 | €270,683 | €243,961 | -€26,722 | -9.9% |
| Amounts payable within one year | 42/48 | €33,944 | €10,810 | -€23,134 | -68.2% |
| Trade debts | 44 | - | €1,832 | +€1,832 | |
| Suppliers | 440/4 | - | €1,832 | +€1,832 | |
| Taxes, remuneration and social security | 45 | €11,779 | €8,978 | -€2,801 | -23.8% |
| Taxes | 450/3 | €11,779 | €8,978 | -€2,801 | -23.8% |
| Other amounts payable | 47/48 | €22,165 | - | -€22,165 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,759 | €19,136 | +€377 | +2.0% |
| Other operating charges | 640/8 | €569 | €630 | +€61 | +10.8% |
| Non-recurring operating charges | 66A | €15 | - | -€15 | |
| Gross operating margin | 9900 | €102,347 | €99,642 | -€2,706 | -2.6% |
| Operating profit (loss) | 9901 | €83,005 | €79,876 | -€3,129 | -3.8% |
| Financial income | 75/76B | €0 | €1,250 | +€1,250 | +6,249,900% |
| Recurring financial income | 75 | €0 | €1,250 | +€1,250 | +6,249,900% |
| Financial charges | 65/66B | €838 | €620 | -€218 | -26.0% |
| Recurring financial charges | 65 | €838 | €620 | -€218 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €82,167 | €80,506 | -€1,660 | -2.0% |
| Income taxes | 67/77 | €100 | €70 | -€30 | -30.1% |
| Profit (loss) for the period | 9904 | €82,067 | €80,437 | -€1,630 | -2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €82,067 | €80,437 | -€1,630 | -2.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.