PINPIN: 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.
PINPIN
Largest movements
- Cash -€1.3m
down €1.3m (-83.1%), from €1.6m to €263,245
mainly Receivables after one year (-€1.2m) and Other debts (-€90,000)
- Receivables after one year +€1.2m
new in 2025: €1.2m
- Other debts -€90,000
no longer reported in 2025 (was €90,000)
- Gross operating margin -€221,321
down €221,321 (-88.5%), from €249,960 to €28,638
- Write-downs -€21,434
no longer reported in 2025 (was €21,434)
- Other operating charges -€18,473
down €18,473 (-67.8%), from €27,242 to €8,768
- Taxes -€12,780
down €12,780 (-70.8%), from €18,057 to €5,276
- Financial income +€2,644
up €2,644 (+49.9%), from €5,302 to €7,946
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 | €1,670,455 | €1,610,335 | -€60,120 | -3.6% |
| Fixed assets | 21/28 | €86,107 | €77,354 | -€8,753 | -10.2% |
| Tangible fixed assets | 22/27 | €86,107 | €77,296 | -€8,811 | -10.2% |
| Land and buildings | 22 | €59,532 | €59,532 | = | 0.0% |
| Leasing and similar rights | 25 | €17,622 | €8,811 | -€8,811 | -50.0% |
| Other tangible fixed assets | 26 | €8,952 | €8,952 | = | 0.0% |
| Financial fixed assets | 28 | - | €58 | +€58 | |
| Current assets | 29/58 | €1,584,348 | €1,532,981 | -€51,367 | -3.2% |
| Amounts receivable after more than one year | 29 | - | €1,232,431 | +€1.2m | |
| Other amounts receivable | 291 | - | €1,232,431 | +€1.2m | |
| Amounts receivable within one year | 40/41 | €25,025 | €30,563 | +€5,538 | +22.1% |
| Trade receivables | 40 | €25,025 | €30,563 | +€5,538 | +22.1% |
| Cash at bank and in hand | 54/58 | €1,559,323 | €263,245 | -€1.3m | -83.1% |
| Deferred charges and accrued income | 490/1 | - | €6,741 | +€6,741 | |
| Total equity and liabilities | 10/49 | €1,670,455 | €1,610,335 | -€60,120 | -3.6% |
| Equity | 10/15 | €1,485,665 | €1,498,980 | +€13,315 | +0.9% |
| 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 | €1,424,165 | €1,437,480 | +€13,315 | +0.9% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €116,333 | €116,333 | = | 0.0% |
| Distributable reserves | 133 | €1,295,332 | €1,308,647 | +€13,315 | +1.0% |
| Amounts payable | 17/49 | €184,790 | €111,355 | -€73,435 | -39.7% |
| Amounts payable within one year | 42/48 | €184,790 | €111,355 | -€73,435 | -39.7% |
| Trade debts | 44 | €77,093 | €81,925 | +€4,831 | +6.3% |
| Suppliers | 440/4 | €77,093 | €81,925 | +€4,831 | +6.3% |
| Taxes, remuneration and social security | 45 | €17,697 | €29,431 | +€11,734 | +66.3% |
| Taxes | 450/3 | €17,697 | €29,431 | +€11,734 | +66.3% |
| Other amounts payable | 47/48 | €90,000 | - | -€90,000 | |
| Non-recurring operating income | 76A | €97,073 | - | -€97,073 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,811 | €8,811 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,434 | - | -€21,434 | |
| Other operating charges | 640/8 | €27,242 | €8,768 | -€18,473 | -67.8% |
| Gross operating margin | 9900 | €249,960 | €28,638 | -€221,321 | -88.5% |
| Operating profit (loss) | 9901 | €192,473 | €11,059 | -€181,414 | -94.3% |
| Financial income | 75/76B | €5,302 | €7,946 | +€2,644 | +49.9% |
| Recurring financial income | 75 | €5,302 | €7,946 | +€2,644 | +49.9% |
| Financial charges | 65/66B | €305 | €413 | +€109 | +35.6% |
| Recurring financial charges | 65 | €305 | €413 | +€109 | +35.6% |
| Profit (loss) for the period before taxes | 9903 | €197,470 | €18,591 | -€178,879 | -90.6% |
| Income taxes | 67/77 | €18,057 | €5,276 | -€12,780 | -70.8% |
| Profit (loss) for the period | 9904 | €179,413 | €13,315 | -€166,098 | -92.6% |
| Profit (loss) for the period to be appropriated | 9905 | €179,413 | €13,315 | -€166,098 | -92.6% |
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.