Pinscher: 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.
Pinscher
Largest movements
- Receivables within one year -€52,285
down €52,285 (-55.1%), from €94,957 to €42,672
of which Trade receivables: -€58,790
- Cash +€12,780
up €12,780 (+352.8%), from €3,622 to €16,402
mainly Receivables within one year (+€52,285) and Tax, wage and social debts (+€28,294)
- Intangible fixed assets +€9,668
up €9,668 (+56.3%), from €17,181 to €26,849
- Stocks and contracts +€3,381
up €3,381 (+10.9%), from €30,947 to €34,328
- Trade debts -€37,885
down €37,885 (-48.8%), from €77,652 to €39,767
- Debts after one year -€30,655
down €30,655 (-28.4%), from €108,034 to €77,379
- Tax, wage and social debts +€28,294
up €28,294 (+106.9%), from €26,457 to €54,751
of which Remuneration and social security: +€22,979
- Short-term financial debts +€14,743
up €14,743 (+49.1%), from €30,030 to €44,772
of which Other loans: +€11,514
- Advances received -€13,568
down €13,568 (-77.9%), from €17,413 to €3,845
- Staff costs +€50,348
up €50,348 (+73.5%), from €68,501 to €118,849
- Gross operating margin +€46,006
up €46,006 (+40.1%), from €114,647 to €160,653
- Depreciation +€6,283
up €6,283 (+34.9%), from €18,017 to €24,300
- Financial charges +€3,671
up €3,671 (+62.6%), from €5,864 to €9,535
- Taxes -€3,138
down €3,138 (-48.0%), from €6,532 to €3,394
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 | €261,629 | €239,217 | -€22,412 | -8.6% |
| Fixed assets | 21/28 | €122,338 | €134,543 | +€12,205 | +10.0% |
| Intangible fixed assets | 21 | €17,181 | €26,849 | +€9,668 | +56.3% |
| Tangible fixed assets | 22/27 | €105,157 | €107,693 | +€2,537 | +2.4% |
| Plant, machinery and equipment | 23 | €84,497 | €82,437 | -€2,060 | -2.4% |
| Furniture and vehicles | 24 | €71 | €0 | -€71 | -100.0% |
| Other tangible fixed assets | 26 | €20,588 | €25,257 | +€4,668 | +22.7% |
| Current assets | 29/58 | €139,291 | €104,674 | -€34,617 | -24.9% |
| Stocks and contracts in progress | 3 | €30,947 | €34,328 | +€3,381 | +10.9% |
| Stocks | 30/36 | €30,947 | €34,328 | +€3,381 | +10.9% |
| Amounts receivable within one year | 40/41 | €94,957 | €42,672 | -€52,285 | -55.1% |
| Trade receivables | 40 | €94,849 | €36,059 | -€58,790 | -62.0% |
| Other amounts receivable | 41 | €108 | €6,613 | +€6,506 | +6038.3% |
| Cash at bank and in hand | 54/58 | €3,622 | €16,402 | +€12,780 | +352.8% |
| Deferred charges and accrued income | 490/1 | €9,766 | €11,272 | +€1,506 | +15.4% |
| Total equity and liabilities | 10/49 | €261,629 | €239,217 | -€22,412 | -8.6% |
| Equity | 10/15 | -€11,116 | -€8,923 | +€2,193 | +19.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,116 | -€13,923 | +€2,193 | +13.6% |
| Amounts payable | 17/49 | €272,746 | €248,140 | -€24,606 | -9.0% |
| Amounts payable after more than one year | 17 | €108,034 | €77,379 | -€30,655 | -28.4% |
| Financial debts | 170/4 | €108,034 | €77,379 | -€30,655 | -28.4% |
| Amounts payable within one year | 42/48 | €164,712 | €170,761 | +€6,049 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €5,395 | €8,494 | +€3,099 | +57.4% |
| Financial debts | 43 | €30,030 | €44,772 | +€14,743 | +49.1% |
| Credit institutions | 430/8 | €8,933 | €12,161 | +€3,229 | +36.1% |
| Other loans | 439 | €21,097 | €32,611 | +€11,514 | +54.6% |
| Trade debts | 44 | €77,652 | €39,767 | -€37,885 | -48.8% |
| Suppliers | 440/4 | €77,652 | €39,767 | -€37,885 | -48.8% |
| Advances received on contracts in progress | 46 | €17,413 | €3,845 | -€13,568 | -77.9% |
| Taxes, remuneration and social security | 45 | €26,457 | €54,751 | +€28,294 | +106.9% |
| Taxes | 450/3 | €20,335 | €25,650 | +€5,315 | +26.1% |
| Remuneration and social security | 454/9 | €6,122 | €29,101 | +€22,979 | +375.4% |
| Other amounts payable | 47/48 | €7,765 | €19,132 | +€11,367 | +146.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | €2,609 | +€2,609 | |
| Remuneration, social security and pensions | 62 | €68,501 | €118,849 | +€50,348 | +73.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,017 | €24,300 | +€6,283 | +34.9% |
| Other operating charges | 640/8 | €2,142 | €2,422 | +€280 | +13.1% |
| Non-recurring operating charges | 66A | €1,622 | €0 | -€1,622 | -100.0% |
| Gross operating margin | 9900 | €114,647 | €160,653 | +€46,006 | +40.1% |
| Operating profit (loss) | 9901 | €24,365 | €15,082 | -€9,283 | -38.1% |
| Financial income | 75/76B | €144 | €40 | -€105 | -72.5% |
| Recurring financial income | 75 | €144 | €40 | -€105 | -72.5% |
| Financial charges | 65/66B | €5,864 | €9,535 | +€3,671 | +62.6% |
| Recurring financial charges | 65 | €5,864 | €9,535 | +€3,671 | +62.6% |
| Profit (loss) for the period before taxes | 9903 | €18,645 | €5,587 | -€13,058 | -70.0% |
| Income taxes | 67/77 | €6,532 | €3,394 | -€3,138 | -48.0% |
| Profit (loss) for the period | 9904 | €12,114 | €2,193 | -€9,920 | -81.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,114 | €2,193 | -€9,920 | -81.9% |
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 3 October 2026 via checked.be.