PINKHAGE: 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.
PINKHAGE
Largest movements
- Cash +€607,867
up €607,867 (+209%), from €291,435 to €899,302
mainly Current investments (+€600,000) and Tax, wage and social debts (+€154,122)
- Current investments -€600,000
down €600,000 (-100%), from €600,000 to €0
- Reserves -€158,603
down €158,603 (-18.7%), from €850,064 to €691,461
of which Tax-exempt reserves: -€466,664
- Tax, wage and social debts +€154,122
new in 2025: €154,122
- Taxes +€154,122
new in 2025: €154,122
- Financial income -€6,414
down €6,414 (-46.6%), from €13,761 to €7,347
- Gross operating margin -€3,317
down €3,317 (-74.9%), from €4,430 to €1,113
- Financial charges -€195
down €195 (-6.2%), from €3,158 to €2,963
- Other operating charges +€63
up €63 (+3.2%), from €1,978 to €2,041
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 | €942,564 | €947,534 | +€4,970 | +0.5% |
| Fixed assets | 21/28 | €51,129 | €48,167 | -€2,962 | -5.8% |
| Tangible fixed assets | 22/27 | €51,129 | €48,167 | -€2,962 | -5.8% |
| Land and buildings | 22 | €51,129 | €48,167 | -€2,962 | -5.8% |
| Current assets | 29/58 | €891,435 | €899,367 | +€7,932 | +0.9% |
| Amounts receivable within one year | 40/41 | - | €66 | +€66 | |
| Other amounts receivable | 41 | - | €66 | +€66 | |
| Current investments | 50/53 | €600,000 | €0 | -€600,000 | -100% |
| Cash at bank and in hand | 54/58 | €291,435 | €899,302 | +€607,867 | +209% |
| Total equity and liabilities | 10/49 | €942,564 | €947,534 | +€4,970 | +0.5% |
| Equity | 10/15 | €910,090 | €756,461 | -€153,629 | -16.9% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €850,064 | €691,461 | -€158,603 | -18.7% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €466,664 | €0 | -€466,664 | -100% |
| Distributable reserves | 133 | €376,900 | €684,961 | +€308,061 | +81.7% |
| Profit (loss) carried forward | 14 | -€4,974 | €0 | +€4,974 | |
| Amounts payable | 17/49 | €32,474 | €191,073 | +€158,599 | +488% |
| Amounts payable within one year | 42/48 | €32,474 | €191,073 | +€158,599 | +488% |
| Trade debts | 44 | - | €2,178 | +€2,178 | |
| Suppliers | 440/4 | - | €2,178 | +€2,178 | |
| Taxes, remuneration and social security | 45 | - | €154,122 | +€154,122 | |
| Taxes | 450/3 | - | €154,122 | +€154,122 | |
| Other amounts payable | 47/48 | €32,474 | €34,773 | +€2,299 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,962 | €2,962 | = | 0.0% |
| Other operating charges | 640/8 | €1,978 | €2,041 | +€63 | +3.2% |
| Gross operating margin | 9900 | €4,430 | €1,113 | -€3,317 | -74.9% |
| Operating profit (loss) | 9901 | -€511 | -€3,891 | -€3,380 | -662% |
| Financial income | 75/76B | €13,761 | €7,347 | -€6,414 | -46.6% |
| Recurring financial income | 75 | €13,761 | €7,347 | -€6,414 | -46.6% |
| Financial charges | 65/66B | €3,158 | €2,963 | -€195 | -6.2% |
| Recurring financial charges | 65 | €3,158 | €2,963 | -€195 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €10,092 | €493 | -€9,599 | -95.1% |
| Income taxes | 67/77 | - | €154,122 | +€154,122 | |
| Profit (loss) for the period | 9904 | €10,092 | -€153,629 | -€163,721 | |
| Transfer from tax-exempt reserves | 789 | - | €466,664 | +€466,664 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,092 | €313,035 | +€302,943 | +3,002% |
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 16 October 2026 via checked.be.