PINDEC: 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.
PINDEC
Largest movements
- Cash +€50,300
up €50,300 (+236%), from €21,340 to €71,640
mainly Net result for the year (+€53,867) and Receivables within one year (+€38,035)
- Receivables within one year -€38,035
down €38,035 (-92.5%), from €41,139 to €3,104
of which Other amounts receivable: -€40,812
- Tangible fixed assets -€14,421
down €14,421 (-5.1%), from €282,576 to €268,155
of which Land and buildings: -€8,939
- Intangible fixed assets -€7,527
down €7,527 (-26.6%), from €28,330 to €20,804
- Reserves +€53,867
up €53,867 (+38.1%), from €141,448 to €195,315
- Other debts -€29,919
down €29,919 (-99.4%), from €30,105 to €185
- Debts after one year -€16,077
down €16,077 (-9.9%), from €162,803 to €146,726
- Trade debts -€10,970
down €10,970 (-86.6%), from €12,664 to €1,694
- Tax, wage and social debts -€5,031
no longer reported in 2025 (was €5,031)
- Gross operating margin +€59,612
up €59,612 (+75.1%), from €79,345 to €138,957
- Taxes +€15,122
up €15,122 (+332%), from €4,552 to €19,673
- Other operating charges +€3,014
up €3,014 (+116%), from €2,591 to €5,605
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 | €392,969 | €385,363 | -€7,606 | -1.9% |
| Fixed assets | 21/28 | €310,906 | €288,958 | -€21,948 | -7.1% |
| Intangible fixed assets | 21 | €28,330 | €20,804 | -€7,527 | -26.6% |
| Tangible fixed assets | 22/27 | €282,576 | €268,155 | -€14,421 | -5.1% |
| Land and buildings | 22 | €269,746 | €260,807 | -€8,939 | -3.3% |
| Plant, machinery and equipment | 23 | €3,654 | €441 | -€3,213 | -87.9% |
| Furniture and vehicles | 24 | €9,175 | €6,906 | -€2,269 | -24.7% |
| Current assets | 29/58 | €82,063 | €96,404 | +€14,341 | +17.5% |
| Amounts receivable within one year | 40/41 | €41,139 | €3,104 | -€38,035 | -92.5% |
| Trade receivables | 40 | - | €2,777 | +€2,777 | |
| Other amounts receivable | 41 | €41,139 | €327 | -€40,812 | -99.2% |
| Cash at bank and in hand | 54/58 | €21,340 | €71,640 | +€50,300 | +236% |
| Deferred charges and accrued income | 490/1 | €19,584 | €21,660 | +€2,076 | +10.6% |
| Total equity and liabilities | 10/49 | €392,969 | €385,363 | -€7,606 | -1.9% |
| Equity | 10/15 | €160,048 | €213,915 | +€53,867 | +33.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €141,448 | €195,315 | +€53,867 | +38.1% |
| Distributable reserves | 133 | €141,448 | €195,315 | +€53,867 | +38.1% |
| Amounts payable | 17/49 | €232,921 | €171,447 | -€61,474 | -26.4% |
| Amounts payable after more than one year | 17 | €162,803 | €146,726 | -€16,077 | -9.9% |
| Financial debts | 170/4 | €162,803 | €146,726 | -€16,077 | -9.9% |
| Amounts payable within one year | 42/48 | €70,118 | €24,721 | -€45,397 | -64.7% |
| Current portion of amounts payable after more than one year | 42 | €22,318 | €22,842 | +€524 | +2.3% |
| Trade debts | 44 | €12,664 | €1,694 | -€10,970 | -86.6% |
| Suppliers | 440/4 | €12,664 | €1,694 | -€10,970 | -86.6% |
| Taxes, remuneration and social security | 45 | €5,031 | - | -€5,031 | |
| Remuneration and social security | 454/9 | €5,031 | - | -€5,031 | |
| Other amounts payable | 47/48 | €30,105 | €185 | -€29,919 | -99.4% |
| Remuneration, social security and pensions | 62 | €34,298 | €33,074 | -€1,224 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,042 | €19,171 | +€129 | +0.7% |
| Other operating charges | 640/8 | €2,591 | €5,605 | +€3,014 | +116% |
| Gross operating margin | 9900 | €79,345 | €138,957 | +€59,612 | +75.1% |
| Operating profit (loss) | 9901 | €23,413 | €81,107 | +€57,694 | +246% |
| Financial income | 75/76B | €39 | €252 | +€213 | +548% |
| Recurring financial income | 75 | €39 | €252 | +€213 | +548% |
| Financial charges | 65/66B | €8,326 | €7,818 | -€508 | -6.1% |
| Recurring financial charges | 65 | €8,326 | €7,818 | -€508 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €15,126 | €73,541 | +€58,415 | +386% |
| Income taxes | 67/77 | €4,552 | €19,673 | +€15,122 | +332% |
| Profit (loss) for the period | 9904 | €10,574 | €53,867 | +€43,293 | +409% |
| Profit (loss) for the period to be appropriated | 9905 | €10,574 | €53,867 | +€43,293 | +409% |
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 21 October 2026 via checked.be.