Pinsard: 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.
Pinsard
Largest movements
- Cash -€15,453
down €15,453 (-35.3%), from €43,781 to €28,328
mainly Contributions, distributions and other (-€27,289) and Receivables within one year (-€9,710)
- Receivables within one year +€9,710
up €9,710 (+65.4%), from €14,845 to €24,554
of which Trade receivables: +€7,665
- Deferred charges and accrued income +€2,243
up €2,243 (+243%), from €925 to €3,167
- Tax, wage and social debts -€5,523
down €5,523 (-100%), from €5,523 to €0
of which Taxes: -€5,523
- Trade debts +€2,659
up €2,659 (+363%), from €734 to €3,393
- Reserves -€1,302
down €1,302 (-2.5%), from €51,178 to €49,876
- Gross operating margin -€11,960
down €11,960 (-25.6%), from €46,755 to €34,795
- Taxes -€688
down €688 (-8.6%), from €8,002 to €7,314
- Depreciation -€668
down €668 (-67.0%), from €997 to €329
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 | €60,730 | €56,715 | -€4,015 | -6.6% |
| Fixed assets | 21/28 | €1,180 | €666 | -€514 | -43.6% |
| Tangible fixed assets | 22/27 | €1,180 | €666 | -€514 | -43.6% |
| Furniture and vehicles | 24 | €1,180 | €666 | -€514 | -43.6% |
| Current assets | 29/58 | €59,550 | €56,049 | -€3,501 | -5.9% |
| Amounts receivable within one year | 40/41 | €14,845 | €24,554 | +€9,710 | +65.4% |
| Trade receivables | 40 | €12,470 | €20,135 | +€7,665 | +61.5% |
| Other amounts receivable | 41 | €2,375 | €4,419 | +€2,045 | +86.1% |
| Cash at bank and in hand | 54/58 | €43,781 | €28,328 | -€15,453 | -35.3% |
| Deferred charges and accrued income | 490/1 | €925 | €3,167 | +€2,243 | +243% |
| Total equity and liabilities | 10/49 | €60,730 | €56,715 | -€4,015 | -6.6% |
| Equity | 10/15 | €54,178 | €52,876 | -€1,302 | -2.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €51,178 | €49,876 | -€1,302 | -2.5% |
| Distributable reserves | 133 | €51,178 | €49,876 | -€1,302 | -2.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €6,551 | €3,839 | -€2,713 | -41.4% |
| Amounts payable within one year | 42/48 | €6,471 | €3,839 | -€2,632 | -40.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €734 | €3,393 | +€2,659 | +363% |
| Suppliers | 440/4 | €734 | €3,393 | +€2,659 | +363% |
| Taxes, remuneration and social security | 45 | €5,523 | €0 | -€5,523 | -100% |
| Taxes | 450/3 | €5,523 | €0 | -€5,523 | -100% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €214 | €446 | +€232 | +108% |
| Accrued charges and deferred income | 492/3 | €81 | €0 | -€81 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €997 | €329 | -€668 | -67.0% |
| Other operating charges | 640/8 | €678 | €694 | +€16 | +2.4% |
| Non-recurring operating charges | 66A | €7,544 | €147 | -€7,398 | -98.1% |
| Gross operating margin | 9900 | €46,755 | €34,795 | -€11,960 | -25.6% |
| Operating profit (loss) | 9901 | €37,536 | €33,626 | -€3,910 | -10.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -11.8% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -11.8% |
| Financial charges | 65/66B | €602 | €325 | -€277 | -46.0% |
| Recurring financial charges | 65 | €602 | €325 | -€277 | -46.0% |
| Profit (loss) for the period before taxes | 9903 | €36,933 | €33,301 | -€3,633 | -9.8% |
| Income taxes | 67/77 | €8,002 | €7,314 | -€688 | -8.6% |
| Profit (loss) for the period | 9904 | €28,932 | €25,987 | -€2,945 | -10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,932 | €25,987 | -€2,945 | -10.2% |
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 18 October 2026 via checked.be.