PINK: 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.
PINK
Largest movements
- Current investments -€69,858
down €69,858 (-11.8%), from €594,452 to €524,594
- Tangible fixed assets -€48,486
down €48,486 (-6.9%), from €702,405 to €653,918
of which Land and buildings: -€27,796
- Stocks and contracts -€26,755
down €26,755 (-6.9%), from €387,374 to €360,618
- Deferred charges and accrued income +€24,209
up €24,209 (+126.5%), from €19,132 to €43,341
- Cash -€20,948
down €20,948 (-10.0%), from €209,895 to €188,947
mainly Short-term financial debts (-€165,000) and Tax, wage and social debts (-€32,016)
- Short-term financial debts -€165,000
down €165,000 (-100.0%), from €165,000 to €0
- Reserves +€101,891
up €101,891 (+7.8%), from €1.3m to €1.4m
of which Distributable reserves: +€101,891
- Tax, wage and social debts -€32,016
down €32,016 (-35.9%), from €89,201 to €57,185
of which Remuneration and social security: -€22,295
- Debts after one year -€29,920
down €29,920 (-14.5%), from €205,654 to €175,734
- Gross operating margin -€92,194
down €92,194 (-14.8%), from €624,840 to €532,646
- Taxes -€34,123
down €34,123 (-42.7%), from €79,838 to €45,715
- Staff costs +€18,140
up €18,140 (+5.8%), from €311,070 to €329,210
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.
Cash bridge derived
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 | €1,913,867 | €1,778,602 | -€135,266 | -7.1% |
| Fixed assets | 21/28 | €702,433 | €653,947 | -€48,486 | -6.9% |
| Tangible fixed assets | 22/27 | €702,405 | €653,918 | -€48,486 | -6.9% |
| Land and buildings | 22 | €583,404 | €555,608 | -€27,796 | -4.8% |
| Furniture and vehicles | 24 | €119,001 | €98,310 | -€20,691 | -17.4% |
| Financial fixed assets | 28 | €29 | €29 | = | 0.0% |
| Current assets | 29/58 | €1,211,434 | €1,124,655 | -€86,779 | -7.2% |
| Stocks and contracts in progress | 3 | €387,374 | €360,618 | -€26,755 | -6.9% |
| Stocks | 30/36 | €387,374 | €360,618 | -€26,755 | -6.9% |
| Amounts receivable within one year | 40/41 | €581 | €7,154 | +€6,573 | +1131.2% |
| Trade receivables | 40 | €100 | €0 | -€100 | -100.0% |
| Other amounts receivable | 41 | €481 | €7,154 | +€6,672 | +1385.7% |
| Current investments | 50/53 | €594,452 | €524,594 | -€69,858 | -11.8% |
| Cash at bank and in hand | 54/58 | €209,895 | €188,947 | -€20,948 | -10.0% |
| Deferred charges and accrued income | 490/1 | €19,132 | €43,341 | +€24,209 | +126.5% |
| Total equity and liabilities | 10/49 | €1,913,867 | €1,778,602 | -€135,266 | -7.1% |
| Equity | 10/15 | €1,360,309 | €1,462,200 | +€101,891 | +7.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,298,309 | €1,400,200 | +€101,891 | +7.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,292,109 | €1,394,000 | +€101,891 | +7.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €553,558 | €316,401 | -€237,157 | -42.8% |
| Amounts payable after more than one year | 17 | €205,654 | €175,734 | -€29,920 | -14.5% |
| Financial debts | 170/4 | €205,654 | €175,734 | -€29,920 | -14.5% |
| Amounts payable within one year | 42/48 | €347,905 | €140,668 | -€207,237 | -59.6% |
| Current portion of amounts payable after more than one year | 42 | €29,466 | €29,920 | +€454 | +1.5% |
| Financial debts | 43 | €165,000 | €0 | -€165,000 | -100.0% |
| Other loans | 439 | €165,000 | €0 | -€165,000 | -100.0% |
| Trade debts | 44 | €60,860 | €47,019 | -€13,841 | -22.7% |
| Suppliers | 440/4 | €60,860 | €47,019 | -€13,841 | -22.7% |
| Taxes, remuneration and social security | 45 | €89,201 | €57,185 | -€32,016 | -35.9% |
| Taxes | 450/3 | €36,200 | €26,479 | -€9,721 | -26.9% |
| Remuneration and social security | 454/9 | €53,001 | €30,706 | -€22,295 | -42.1% |
| Other amounts payable | 47/48 | €3,378 | €6,543 | +€3,165 | +93.7% |
| Remuneration, social security and pensions | 62 | €311,070 | €329,210 | +€18,140 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,863 | €57,697 | -€5,167 | -8.2% |
| Other operating charges | 640/8 | €8,092 | €8,637 | +€545 | +6.7% |
| Gross operating margin | 9900 | €624,840 | €532,646 | -€92,194 | -14.8% |
| Operating profit (loss) | 9901 | €242,815 | €137,102 | -€105,713 | -43.5% |
| Financial income | 75/76B | €32,541 | €30,885 | -€1,656 | -5.1% |
| Recurring financial income | 75 | €32,541 | €30,885 | -€1,656 | -5.1% |
| Financial charges | 65/66B | €23,403 | €20,381 | -€3,022 | -12.9% |
| Recurring financial charges | 65 | €23,403 | €20,381 | -€3,022 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €251,953 | €147,606 | -€104,346 | -41.4% |
| Income taxes | 67/77 | €79,838 | €45,715 | -€34,123 | -42.7% |
| Profit (loss) for the period | 9904 | €172,115 | €101,891 | -€70,223 | -40.8% |
| Profit (loss) for the period to be appropriated | 9905 | €172,115 | €101,891 | -€70,223 | -40.8% |
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 10 October 2026 via checked.be.