Pine Tree Managment & Consultancy: 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 Tree Managment & Consultancy
Largest movements
- Cash -€41,994
down €41,994 (-71.8%), from €58,485 to €16,491
mainly Contributions, distributions and other (-€84,018) and Investment in fixed assets (net) (-€18,705)
- Tangible fixed assets +€16,496
up €16,496 (+510%), from €3,234 to €19,731
of which Furniture and vehicles: +€16,876
- Receivables within one year -€2,787
down €2,787 (-14.5%), from €19,243 to €16,456
of which Other amounts receivable: -€5,086
- Profit (loss) carried forward -€27,115
down €27,115 (-41.9%), from €64,760 to €37,645
- Tax, wage and social debts -€6,585
down €6,585 (-47.4%), from €13,906 to €7,321
- Current portion of long-term debt +€3,387
new in 2025: €3,387
- Other debts +€1,573
new in 2025: €1,573
- Gross operating margin +€26,455
up €26,455 (+53.0%), from €49,889 to €76,344
- Taxes +€5,495
up €5,495 (+53.5%), from €10,263 to €15,757
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 | €81,858 | €53,701 | -€28,157 | -34.4% |
| Fixed assets | 21/28 | €3,234 | €19,731 | +€16,496 | +510% |
| Tangible fixed assets | 22/27 | €3,234 | €19,731 | +€16,496 | +510% |
| Plant, machinery and equipment | 23 | €1,022 | €642 | -€380 | -37.2% |
| Furniture and vehicles | 24 | €2,212 | €19,088 | +€16,876 | +763% |
| Current assets | 29/58 | €78,624 | €33,970 | -€44,654 | -56.8% |
| Amounts receivable within one year | 40/41 | €19,243 | €16,456 | -€2,787 | -14.5% |
| Trade receivables | 40 | €14,157 | €16,456 | +€2,299 | +16.2% |
| Other amounts receivable | 41 | €5,086 | €0 | -€5,086 | -100% |
| Cash at bank and in hand | 54/58 | €58,485 | €16,491 | -€41,994 | -71.8% |
| Deferred charges and accrued income | 490/1 | €896 | €1,023 | +€127 | +14.2% |
| Total equity and liabilities | 10/49 | €81,858 | €53,701 | -€28,157 | -34.4% |
| Equity | 10/15 | €65,970 | €38,855 | -€27,115 | -41.1% |
| Contributions | 10/11 | €1,210 | €1,210 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,760 | €37,645 | -€27,115 | -41.9% |
| Amounts payable | 17/49 | €15,888 | €14,846 | -€1,042 | -6.6% |
| Amounts payable within one year | 42/48 | €15,888 | €14,846 | -€1,042 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | - | €3,387 | +€3,387 | |
| Trade debts | 44 | €1,982 | €2,565 | +€583 | +29.4% |
| Suppliers | 440/4 | €1,982 | €2,565 | +€583 | +29.4% |
| Taxes, remuneration and social security | 45 | €13,906 | €7,321 | -€6,585 | -47.4% |
| Taxes | 450/3 | €13,906 | €7,321 | -€6,585 | -47.4% |
| Other amounts payable | 47/48 | - | €1,573 | +€1,573 | |
| Remuneration, social security and pensions | 62 | €458 | €544 | +€86 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,468 | €2,208 | +€741 | +50.5% |
| Other operating charges | 640/8 | €164 | €596 | +€432 | +263% |
| Gross operating margin | 9900 | €49,889 | €76,344 | +€26,455 | +53.0% |
| Operating profit (loss) | 9901 | €47,799 | €72,996 | +€25,196 | +52.7% |
| Financial income | 75/76B | €301 | €0 | -€301 | -100.0% |
| Recurring financial income | 75 | €301 | €0 | -€301 | -100.0% |
| Financial charges | 65/66B | €120 | €335 | +€215 | +180% |
| Recurring financial charges | 65 | €120 | €335 | +€215 | +180% |
| Profit (loss) for the period before taxes | 9903 | €47,980 | €72,660 | +€24,680 | +51.4% |
| Income taxes | 67/77 | €10,263 | €15,757 | +€5,495 | +53.5% |
| Profit (loss) for the period | 9904 | €37,717 | €56,903 | +€19,186 | +50.9% |
| Profit (loss) for the period to be appropriated | 9905 | €37,717 | €56,903 | +€19,186 | +50.9% |
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 17 October 2026 via checked.be.