Pink Horizon: what changed
What changed
Pink Horizon
NACE 77.320, Rental and leasing activities
filed annual accounts (NBB)
Net result for the year
-€861
2024 · €13,536-€14,398
Equity
-€11,592
2024 · -€10,731-€861
Cash
€8,100
2024 · €7,935+€165
Balance sheet total
€156,005
2024 · €50,183+€105,822
Largest movements
Assets
- Tangible fixed assets +€39,711
up €39,711 (+6,597%), from €602 to €40,313
of which Furniture and vehicles: +€23,810
- Intangible fixed assets +€33,908
new in 2025: €33,908
- Receivables within one year +€18,673
up €18,673 (+45.4%), from €41,147 to €59,820
of which Trade receivables: +€15,831
- Stocks and contracts +€11,928
new in 2025: €11,928
- Financial fixed assets +€1,937
new in 2025: €1,937
Equity and liabilities
- Debts after one year +€70,138
new in 2025: €70,138
of which Other amounts payable: +€50,000
- Other debts +€65,510
new in 2025: €65,510
- Accrued charges and deferred income -€48,868
down €48,868 (-88.4%), from €55,282 to €6,413
- Trade debts +€18,276
new in 2025: €18,276
Income statement
- Gross operating margin -€6,860
down €6,860 (-34.6%), from €19,841 to €12,980
- Depreciation +€6,495
up €6,495 (+1,115%), from €582 to €7,077
- Taxes +€3,344
new in 2025: €3,344
- Financial charges +€1,049
up €1,049 (+529%), from €198 to €1,247
- Other operating charges +€719
up €719 (+49.4%), from €1,455 to €2,174
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€13,536
Gross operating margin
-€6,860
Depreciation
-€6,495
Other operating charges
-€719
Other operating items
+€4,068
Financial income
-€0
Financial charges
-€1,049
Taxes
-€3,344
Result 2025
-€861
lowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€12,405
Investment
-€82,633
Financing
+€70,394
Cash 2024
€7,935
From operations (derived)
+€12,405
Net result for the year
-€861
Depreciation
+€7,077
Stocks and contracts
-€11,928
Receivables within one year
-€18,673
Deferred charges and accrued income
+€499
Trade debts
+€18,276
Tax, wage and social debts
+€954
Advances received
+€418
Other debts
+€65,510
Accrued charges and deferred income
-€48,868
Investment (derived)
-€82,633
Investment in fixed assets (net)
-€82,633
Financing
+€70,394
Debts after one year
+€70,138
Current portion of long-term debt
+€256
Cash 2025
€8,100
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €50,183 | €156,005 | +€105,822 | +211% |
| Fixed assets | 21/28 | €602 | €76,158 | +€75,556 | +12,552% |
| Intangible fixed assets | 21 | - | €33,908 | +€33,908 | |
| Tangible fixed assets | 22/27 | €602 | €40,313 | +€39,711 | +6,597% |
| Plant, machinery and equipment | 23 | - | €3,741 | +€3,741 | |
| Furniture and vehicles | 24 | €602 | €24,412 | +€23,810 | +3,956% |
| Other tangible fixed assets | 26 | - | €12,160 | +€12,160 | |
| Financial fixed assets | 28 | - | €1,937 | +€1,937 | |
| Current assets | 29/58 | €49,581 | €79,847 | +€30,266 | +61.0% |
| Stocks and contracts in progress | 3 | - | €11,928 | +€11,928 | |
| Stocks | 30/36 | - | €11,928 | +€11,928 | |
| Amounts receivable within one year | 40/41 | €41,147 | €59,820 | +€18,673 | +45.4% |
| Trade receivables | 40 | €40,275 | €56,106 | +€15,831 | +39.3% |
| Other amounts receivable | 41 | €873 | €3,714 | +€2,842 | +326% |
| Cash at bank and in hand | 54/58 | €7,935 | €8,100 | +€165 | +2.1% |
| Deferred charges and accrued income | 490/1 | €499 | - | -€499 | |
| Total equity and liabilities | 10/49 | €50,183 | €156,005 | +€105,822 | +211% |
| Equity | 10/15 | -€10,731 | -€11,592 | -€861 | -8.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,331 | -€30,192 | -€861 | -2.9% |
| Amounts payable | 17/49 | €60,914 | €167,597 | +€106,683 | +175% |
| Amounts payable after more than one year | 17 | - | €70,138 | +€70,138 | |
| Financial debts | 170/4 | - | €20,138 | +€20,138 | |
| Other amounts payable | 178/9 | - | €50,000 | +€50,000 | |
| Amounts payable within one year | 42/48 | €5,632 | €91,046 | +€85,414 | +1,516% |
| Current portion of amounts payable after more than one year | 42 | €5,521 | €5,777 | +€256 | +4.6% |
| Trade debts | 44 | - | €18,276 | +€18,276 | |
| Suppliers | 440/4 | - | €18,276 | +€18,276 | |
| Advances received on contracts in progress | 46 | - | €418 | +€418 | |
| Taxes, remuneration and social security | 45 | €111 | €1,066 | +€954 | +856% |
| Taxes | 450/3 | €111 | €116 | +€4 | +3.8% |
| Remuneration and social security | 454/9 | - | €950 | +€950 | |
| Other amounts payable | 47/48 | - | €65,510 | +€65,510 | |
| Accrued charges and deferred income | 492/3 | €55,282 | €6,413 | -€48,868 | -88.4% |
| Non-recurring operating income | 76A | €4,364 | €42,249 | +€37,886 | +868% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €582 | €7,077 | +€6,495 | +1,115% |
| Other operating charges | 640/8 | €1,455 | €2,174 | +€719 | +49.4% |
| Non-recurring operating charges | 66A | €4,068 | - | -€4,068 | |
| Gross operating margin | 9900 | €19,841 | €12,980 | -€6,860 | -34.6% |
| Operating profit (loss) | 9901 | €13,735 | €3,729 | -€10,005 | -72.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €198 | €1,247 | +€1,049 | +529% |
| Recurring financial charges | 65 | €198 | €1,247 | +€1,049 | +529% |
| Profit (loss) for the period before taxes | 9903 | €13,536 | €2,483 | -€11,054 | -81.7% |
| Income taxes | 67/77 | - | €3,344 | +€3,344 | |
| Profit (loss) for the period | 9904 | €13,536 | -€861 | -€14,398 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,536 | -€861 | -€14,398 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.