PINON et Cie: 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.
PINON et Cie
Largest movements
- Receivables within one year +€393,897
up €393,897 (+624%), from €63,103 to €457,000
- Cash -€201,158
down €201,158 (-95.0%), from €211,815 to €10,657
mainly Receivables within one year (-€393,897) and Net result for the year (-€6,944)
- Other debts +€199,892
up €199,892 (+4,314%), from €4,633 to €204,525
- Profit (loss) carried forward -€6,944
down €6,944 (-3.4%), from €203,104 to €196,160
- Gross operating margin +€5,796
up €5,796 (+50.9%), from -€11,386 to -€5,590
- Depreciation +€269
up €269 (+44.2%), from €610 to €879
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 | €276,137 | €469,085 | +€192,948 | +69.9% |
| Fixed assets | 21/28 | €1,219 | €1,428 | +€209 | +17.1% |
| Tangible fixed assets | 22/27 | €1,219 | €1,418 | +€199 | +16.3% |
| Plant, machinery and equipment | 23 | €1,219 | €1,418 | +€199 | +16.3% |
| Financial fixed assets | 28 | - | €10 | +€10 | |
| Current assets | 29/58 | €274,918 | €467,657 | +€192,739 | +70.1% |
| Amounts receivable within one year | 40/41 | €63,103 | €457,000 | +€393,897 | +624% |
| Other amounts receivable | 41 | €63,103 | €457,000 | +€393,897 | +624% |
| Cash at bank and in hand | 54/58 | €211,815 | €10,657 | -€201,158 | -95.0% |
| Total equity and liabilities | 10/49 | €276,137 | €469,085 | +€192,948 | +69.9% |
| Equity | 10/15 | €270,754 | €263,810 | -€6,944 | -2.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €203,104 | €196,160 | -€6,944 | -3.4% |
| Amounts payable | 17/49 | €5,383 | €205,275 | +€199,892 | +3,713% |
| Amounts payable within one year | 42/48 | €5,383 | €205,275 | +€199,892 | +3,713% |
| Trade debts | 44 | €750 | €750 | = | 0.0% |
| Suppliers | 440/4 | €750 | €750 | = | 0.0% |
| Other amounts payable | 47/48 | €4,633 | €204,525 | +€199,892 | +4,314% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €610 | €879 | +€269 | +44.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€11,386 | -€5,590 | +€5,796 | +50.9% |
| Operating profit (loss) | 9901 | -€12,383 | -€6,869 | +€5,514 | +44.5% |
| Financial charges | 65/66B | €69 | €75 | +€6 | +8.7% |
| Recurring financial charges | 65 | €69 | €75 | +€6 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | -€12,452 | -€6,944 | +€5,508 | +44.2% |
| Profit (loss) for the period | 9904 | -€12,452 | -€6,944 | +€5,508 | +44.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,452 | -€6,944 | +€5,508 | +44.2% |
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 28 October 2026 via checked.be.