PINCHO: 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.
PINCHO
Largest movements
- Tangible fixed assets +€34,206
up €34,206 (+422%), from €8,104 to €42,309
of which Furniture and vehicles: +€22,697
- Cash -€20,031
down €20,031 (-64.6%), from €31,028 to €10,997
mainly Investment in fixed assets (net) (-€45,679) and Trade debts (-€4,181)
- Receivables within one year +€2,557
up €2,557 (+25.4%), from €10,062 to €12,619
- Profit (loss) carried forward +€20,999
up €20,999 (+74.7%), from €28,108 to €49,107
- Trade debts -€4,181
down €4,181 (-62.6%), from €6,681 to €2,500
- Other debts +€1,433
up €1,433 (+59.9%), from €2,393 to €3,826
- Tax, wage and social debts -€1,396
down €1,396 (-11.9%), from €11,735 to €10,339
of which Taxes: -€2,896
- Depreciation +€11,122
up €11,122 (+3,160%), from €352 to €11,474
- Taxes -€2,169
down €2,169 (-28.1%), from €7,730 to €5,561
- Gross operating margin +€1,865
up €1,865 (+5.1%), from €36,780 to €38,644
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 | €49,417 | €66,272 | +€16,855 | +34.1% |
| Fixed assets | 21/28 | €8,104 | €42,309 | +€34,206 | +422% |
| Tangible fixed assets | 22/27 | €8,104 | €42,309 | +€34,206 | +422% |
| Plant, machinery and equipment | 23 | €8,104 | €19,613 | +€11,509 | +142% |
| Furniture and vehicles | 24 | - | €22,697 | +€22,697 | |
| Current assets | 29/58 | €41,314 | €23,963 | -€17,350 | -42.0% |
| Amounts receivable within one year | 40/41 | €10,062 | €12,619 | +€2,557 | +25.4% |
| Trade receivables | 40 | €10,062 | €12,619 | +€2,557 | +25.4% |
| Cash at bank and in hand | 54/58 | €31,028 | €10,997 | -€20,031 | -64.6% |
| Deferred charges and accrued income | 490/1 | €224 | €347 | +€123 | +55.1% |
| Total equity and liabilities | 10/49 | €49,417 | €66,272 | +€16,855 | +34.1% |
| Equity | 10/15 | €28,608 | €49,607 | +€20,999 | +73.4% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,108 | €49,107 | +€20,999 | +74.7% |
| Amounts payable | 17/49 | €20,809 | €16,665 | -€4,144 | -19.9% |
| Amounts payable within one year | 42/48 | €20,809 | €16,665 | -€4,144 | -19.9% |
| Trade debts | 44 | €6,681 | €2,500 | -€4,181 | -62.6% |
| Suppliers | 440/4 | €6,681 | €2,500 | -€4,181 | -62.6% |
| Taxes, remuneration and social security | 45 | €11,735 | €10,339 | -€1,396 | -11.9% |
| Taxes | 450/3 | €11,735 | €8,839 | -€2,896 | -24.7% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €2,393 | €3,826 | +€1,433 | +59.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €352 | €11,474 | +€11,122 | +3,160% |
| Other operating charges | 640/8 | €554 | €555 | +€1 | +0.2% |
| Gross operating margin | 9900 | €36,780 | €38,644 | +€1,865 | +5.1% |
| Operating profit (loss) | 9901 | €35,873 | €26,615 | -€9,258 | -25.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €35 | €55 | +€20 | +58.3% |
| Recurring financial charges | 65 | €35 | €55 | +€20 | +58.3% |
| Profit (loss) for the period before taxes | 9903 | €35,838 | €26,560 | -€9,278 | -25.9% |
| Income taxes | 67/77 | €7,730 | €5,561 | -€2,169 | -28.1% |
| Profit (loss) for the period | 9904 | €28,108 | €20,999 | -€7,109 | -25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,108 | €20,999 | -€7,109 | -25.3% |
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 15 October 2026 via checked.be.