Pinot: what changed
Two fiscal 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.
Pinot
Largest movements
- Deferred charges and accrued income -€2,751
down €2,751 (-91.6%), from €3,004 to €253
- Cash -€2,324
down €2,324 (-1.8%), from €128,327 to €126,003
mainly Contributions, distributions and other (-€42,857) and Trade debts (-€2,891)
- Stocks and contracts +€2,317
up €2,317 (+30.3%), from €7,637 to €9,954
- Other debts +€14,286
up €14,286 (+49.9%), from €28,622 to €42,908
- Reserves -€12,492
down €12,492 (-14.7%), from €85,171 to €72,679
- Trade debts -€2,891
down €2,891 (-46.7%), from €6,196 to €3,306
- Tax, wage and social debts -€1,977
down €1,977 (-15.6%), from €12,685 to €10,708
of which Remuneration and social security: -€3,441
- Gross operating margin +€11,133
up €11,133 (+9.5%), from €116,875 to €128,008
- Other operating charges +€3,743
up €3,743 (+266.0%), from €1,407 to €5,150
- Staff costs -€1,497
down €1,497 (-1.9%), from €80,938 to €79,441
- Taxes +€1,371
up €1,371 (+21.5%), from €6,378 to €7,749
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 | €151,275 | €148,200 | -€3,074 | -2.0% |
| Fixed assets | 21/28 | €10,707 | €10,030 | -€677 | -6.3% |
| Intangible fixed assets | 21 | €875 | €0 | -€875 | -100.0% |
| Tangible fixed assets | 22/27 | €4,789 | €4,988 | +€198 | +4.1% |
| Plant, machinery and equipment | 23 | €2,819 | €2,050 | -€769 | -27.3% |
| Furniture and vehicles | 24 | €728 | €490 | -€238 | -32.8% |
| Other tangible fixed assets | 26 | €1,242 | €2,448 | +€1,206 | +97.1% |
| Financial fixed assets | 28 | €5,043 | €5,043 | = | 0.0% |
| Current assets | 29/58 | €140,568 | €138,170 | -€2,397 | -1.7% |
| Stocks and contracts in progress | 3 | €7,637 | €9,954 | +€2,317 | +30.3% |
| Stocks | 30/36 | €7,637 | €9,954 | +€2,317 | +30.3% |
| Amounts receivable within one year | 40/41 | €1,599 | €1,959 | +€360 | +22.5% |
| Trade receivables | 40 | €1,002 | €1,416 | +€414 | +41.3% |
| Other amounts receivable | 41 | €597 | €543 | -€54 | -9.0% |
| Cash at bank and in hand | 54/58 | €128,327 | €126,003 | -€2,324 | -1.8% |
| Deferred charges and accrued income | 490/1 | €3,004 | €253 | -€2,751 | -91.6% |
| Total equity and liabilities | 10/49 | €151,275 | €148,200 | -€3,074 | -2.0% |
| Equity | 10/15 | €103,771 | €91,279 | -€12,492 | -12.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €85,171 | €72,679 | -€12,492 | -14.7% |
| Distributable reserves | 133 | €85,171 | €72,679 | -€12,492 | -14.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €47,503 | €56,922 | +€9,418 | +19.8% |
| Amounts payable within one year | 42/48 | €47,503 | €56,922 | +€9,418 | +19.8% |
| Trade debts | 44 | €6,196 | €3,306 | -€2,891 | -46.7% |
| Suppliers | 440/4 | €6,196 | €3,306 | -€2,891 | -46.7% |
| Taxes, remuneration and social security | 45 | €12,685 | €10,708 | -€1,977 | -15.6% |
| Taxes | 450/3 | €6,378 | €7,843 | +€1,465 | +23.0% |
| Remuneration and social security | 454/9 | €6,307 | €2,866 | -€3,441 | -54.6% |
| Other amounts payable | 47/48 | €28,622 | €42,908 | +€14,286 | +49.9% |
| Remuneration, social security and pensions | 62 | €80,938 | €79,441 | -€1,497 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,574 | €2,985 | -€589 | -16.5% |
| Other operating charges | 640/8 | €1,407 | €5,150 | +€3,743 | +266.0% |
| Gross operating margin | 9900 | €116,875 | €128,008 | +€11,133 | +9.5% |
| Operating profit (loss) | 9901 | €30,955 | €40,432 | +€9,477 | +30.6% |
| Financial income | 75/76B | €4 | €1 | -€3 | -77.0% |
| Recurring financial income | 75 | €4 | €1 | -€3 | -77.0% |
| Financial charges | 65/66B | €2,165 | €2,319 | +€153 | +7.1% |
| Recurring financial charges | 65 | €2,165 | €2,319 | +€153 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | €28,794 | €38,114 | +€9,320 | +32.4% |
| Income taxes | 67/77 | €6,378 | €7,749 | +€1,371 | +21.5% |
| Profit (loss) for the period | 9904 | €22,416 | €30,365 | +€7,949 | +35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,416 | €30,365 | +€7,949 | +35.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.