PINOT3: 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.
PINOT3
Largest movements
- Receivables within one year +€22,884
up €22,884 (+137.3%), from €16,672 to €39,556
- Stocks and contracts -€12,391
down €12,391 (-22.2%), from €55,925 to €43,534
- Profit (loss) carried forward -€14,105
down €14,105 (-7.8%), from €180,946 to €166,841
- Other debts +€9,998
up €9,998 (+4.8%), from €209,025 to €219,023
- Tax, wage and social debts +€8,098
up €8,098 (+2978.7%), from €272 to €8,370
of which Taxes: +€6,960
- Depreciation +€2,413
up €2,413 (+19.8%), from €12,205 to €14,618
- Gross operating margin -€2,375
down €2,375 (-36.5%), from €6,504 to €4,129
- Staff costs +€1,747
new in 2025: €1,747
- Other operating charges -€836
down €836 (-29.1%), from €2,869 to €2,033
- Financial income +€370
up €370 (+22567.7%), from €2 to €372
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 | €535,358 | €540,976 | +€5,618 | +1.0% |
| Fixed assets | 21/28 | €447,612 | €448,314 | +€701 | +0.2% |
| Tangible fixed assets | 22/27 | €447,612 | €448,314 | +€701 | +0.2% |
| Land and buildings | 22 | €362,500 | €362,500 | = | 0.0% |
| Plant, machinery and equipment | 23 | €76,338 | €78,925 | +€2,587 | +3.4% |
| Furniture and vehicles | 24 | €8,774 | €6,888 | -€1,886 | -21.5% |
| Current assets | 29/58 | €87,745 | €92,662 | +€4,917 | +5.6% |
| Stocks and contracts in progress | 3 | €55,925 | €43,534 | -€12,391 | -22.2% |
| Stocks | 30/36 | €55,925 | €43,534 | -€12,391 | -22.2% |
| Amounts receivable within one year | 40/41 | €16,672 | €39,556 | +€22,884 | +137.3% |
| Trade receivables | 40 | €16,672 | €39,556 | +€22,884 | +137.3% |
| Cash at bank and in hand | 54/58 | €14,386 | €9,280 | -€5,106 | -35.5% |
| Deferred charges and accrued income | 490/1 | €762 | €292 | -€470 | -61.7% |
| Total equity and liabilities | 10/49 | €535,358 | €540,976 | +€5,618 | +1.0% |
| Equity | 10/15 | €316,225 | €302,120 | -€14,105 | -4.5% |
| Contributions | 10/11 | €23,846 | €23,846 | = | 0.0% |
| Reserves | 13 | €111,434 | €111,434 | = | 0.0% |
| Distributable reserves | 133 | €111,434 | €111,434 | = | 0.0% |
| Profit (loss) carried forward | 14 | €180,946 | €166,841 | -€14,105 | -7.8% |
| Amounts payable | 17/49 | €219,132 | €238,855 | +€19,723 | +9.0% |
| Amounts payable within one year | 42/48 | €219,132 | €238,855 | +€19,723 | +9.0% |
| Trade debts | 44 | €9,835 | €11,462 | +€1,627 | +16.5% |
| Suppliers | 440/4 | €9,835 | €11,462 | +€1,627 | +16.5% |
| Taxes, remuneration and social security | 45 | €272 | €8,370 | +€8,098 | +2978.7% |
| Taxes | 450/3 | €272 | €7,232 | +€6,960 | +2560.2% |
| Remuneration and social security | 454/9 | - | €1,138 | +€1,138 | |
| Other amounts payable | 47/48 | €209,025 | €219,023 | +€9,998 | +4.8% |
| Remuneration, social security and pensions | 62 | - | €1,747 | +€1,747 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,205 | €14,618 | +€2,413 | +19.8% |
| Other operating charges | 640/8 | €2,869 | €2,033 | -€836 | -29.1% |
| Gross operating margin | 9900 | €6,504 | €4,129 | -€2,375 | -36.5% |
| Operating profit (loss) | 9901 | -€8,569 | -€14,269 | -€5,700 | -66.5% |
| Financial income | 75/76B | €2 | €372 | +€370 | +22567.7% |
| Recurring financial income | 75 | €2 | €372 | +€370 | +22567.7% |
| Financial charges | 65/66B | €229 | €207 | -€22 | -9.5% |
| Recurring financial charges | 65 | €229 | €207 | -€22 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | -€8,797 | -€14,105 | -€5,308 | -60.3% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€8,797 | -€14,105 | -€5,308 | -60.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,797 | -€14,105 | -€5,308 | -60.3% |
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 7 October 2026 via checked.be.