PINE HILLS: 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.
PINE HILLS
Largest movements
- Stocks and contracts -€47,037
down €47,037 (-63.8%), from €73,681 to €26,644
- Receivables within one year +€41,025
up €41,025 (+137%), from €29,905 to €70,930
of which Trade receivables: +€42,038
- Cash +€4,975
up €4,975 (+57.9%), from €8,588 to €13,563
mainly Stocks and contracts (+€47,037) and Trade debts (+€34,678)
- Deferred charges and accrued income +€3,697
up €3,697 (+229%), from €1,617 to €5,314
- Tangible fixed assets -€1,593
down €1,593 (-57.1%), from €2,790 to €1,198
of which Furniture and vehicles: -€1,044
- Other debts -€36,674
down €36,674 (-92.5%), from €39,663 to €2,990
- Trade debts +€34,678
up €34,678 (+79.6%), from €43,559 to €78,237
- Short-term financial debts -€5,827
no longer reported in 2024 (was €5,827)
- Profit (loss) carried forward +€5,334
up €5,334 (+43.4%), from €12,287 to €17,622
- Tax, wage and social debts +€1,712
up €1,712 (+19.6%), from €8,733 to €10,445
of which Taxes: +€2,876
- Gross operating margin +€7,706
up €7,706 (+14.7%), from €52,256 to €59,962
- Taxes +€1,581
new in 2024: €1,581
- Financial charges +€1,430
up €1,430 (+39.3%), from €3,642 to €5,072
- Other operating charges -€1,013
down €1,013 (-26.6%), from €3,813 to €2,800
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €121,569 | €122,193 | +€624 | +0.5% |
| Fixed assets | 21/28 | €7,778 | €5,743 | -€2,035 | -26.2% |
| Intangible fixed assets | 21 | €2,447 | €2,005 | -€443 | -18.1% |
| Tangible fixed assets | 22/27 | €2,790 | €1,198 | -€1,593 | -57.1% |
| Plant, machinery and equipment | 23 | €672 | €124 | -€549 | -81.6% |
| Furniture and vehicles | 24 | €2,118 | €1,074 | -€1,044 | -49.3% |
| Financial fixed assets | 28 | €2,540 | €2,540 | = | 0.0% |
| Current assets | 29/58 | €113,792 | €116,451 | +€2,659 | +2.3% |
| Stocks and contracts in progress | 3 | €73,681 | €26,644 | -€47,037 | -63.8% |
| Stocks | 30/36 | €73,681 | €26,644 | -€47,037 | -63.8% |
| Amounts receivable within one year | 40/41 | €29,905 | €70,930 | +€41,025 | +137% |
| Trade receivables | 40 | €28,892 | €70,930 | +€42,038 | +146% |
| Other amounts receivable | 41 | €1,013 | - | -€1,013 | |
| Cash at bank and in hand | 54/58 | €8,588 | €13,563 | +€4,975 | +57.9% |
| Deferred charges and accrued income | 490/1 | €1,617 | €5,314 | +€3,697 | +229% |
| Total equity and liabilities | 10/49 | €121,569 | €122,193 | +€624 | +0.5% |
| Equity | 10/15 | €23,787 | €29,122 | +€5,334 | +22.4% |
| Contributions | 10/11 | €11,500 | €11,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,287 | €17,622 | +€5,334 | +43.4% |
| Amounts payable | 17/49 | €97,782 | €93,071 | -€4,711 | -4.8% |
| Amounts payable within one year | 42/48 | €97,782 | €91,671 | -€6,111 | -6.2% |
| Financial debts | 43 | €5,827 | - | -€5,827 | |
| Credit institutions | 430/8 | €5,827 | - | -€5,827 | |
| Trade debts | 44 | €43,559 | €78,237 | +€34,678 | +79.6% |
| Suppliers | 440/4 | €43,559 | €78,237 | +€34,678 | +79.6% |
| Taxes, remuneration and social security | 45 | €8,733 | €10,445 | +€1,712 | +19.6% |
| Taxes | 450/3 | €1,268 | €4,144 | +€2,876 | +227% |
| Remuneration and social security | 454/9 | €7,465 | €6,301 | -€1,165 | -15.6% |
| Other amounts payable | 47/48 | €39,663 | €2,990 | -€36,674 | -92.5% |
| Accrued charges and deferred income | 492/3 | - | €1,400 | +€1,400 | |
| Remuneration, social security and pensions | 62 | €43,673 | €43,176 | -€497 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,598 | €2,035 | -€562 | -21.6% |
| Other operating charges | 640/8 | €3,813 | €2,800 | -€1,013 | -26.6% |
| Gross operating margin | 9900 | €52,256 | €59,962 | +€7,706 | +14.7% |
| Operating profit (loss) | 9901 | €2,172 | €11,952 | +€9,779 | +450% |
| Financial income | 75/76B | €0 | €36 | +€35 | +18,595% |
| Recurring financial income | 75 | €0 | €36 | +€35 | +18,595% |
| Financial charges | 65/66B | €3,642 | €5,072 | +€1,430 | +39.3% |
| Recurring financial charges | 65 | €3,642 | €5,072 | +€1,430 | +39.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,470 | €6,915 | +€8,385 | |
| Income taxes | 67/77 | - | €1,581 | +€1,581 | |
| Profit (loss) for the period | 9904 | -€1,470 | €5,334 | +€6,804 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,470 | €5,334 | +€6,804 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.