PITCH BLACK: 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.
PITCH BLACK
Largest movements
- Receivables within one year +€4,569
up €4,569 (+10.8%), from €42,226 to €46,796
of which Other amounts receivable: +€25,036
- Cash +€3,602
up €3,602 (+34.4%), from €10,481 to €14,083
mainly Current portion of long-term debt (+€9,000) and Trade debts (+€871)
- Current portion of long-term debt +€9,000
new in 2025: €9,000
- Tax, wage and social debts -€2,093
down €2,093 (-18.3%), from €11,415 to €9,322
of which Remuneration and social security: -€2,500
- Trade debts +€871
up €871 (+31.0%), from €2,813 to €3,684
- Gross operating margin -€35,345
down €35,345 (-81.3%), from €43,465 to €8,119
- Taxes -€5,667
down €5,667 (-67.6%), from €8,384 to €2,717
- Financial charges +€645
up €645 (+383%), from €168 to €813
- Other operating charges +€609
new in 2025: €609
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 | €53,600 | €61,740 | +€8,141 | +15.2% |
| Fixed assets | 21/28 | €416 | €416 | = | 0.0% |
| Financial fixed assets | 28 | €416 | €416 | = | 0.0% |
| Current assets | 29/58 | €53,183 | €61,324 | +€8,141 | +15.3% |
| Amounts receivable within one year | 40/41 | €42,226 | €46,796 | +€4,569 | +10.8% |
| Trade receivables | 40 | €20,712 | €246 | -€20,466 | -98.8% |
| Other amounts receivable | 41 | €21,514 | €46,550 | +€25,036 | +116% |
| Cash at bank and in hand | 54/58 | €10,481 | €14,083 | +€3,602 | +34.4% |
| Deferred charges and accrued income | 490/1 | €476 | €446 | -€31 | -6.4% |
| Total equity and liabilities | 10/49 | €53,600 | €61,740 | +€8,141 | +15.2% |
| Equity | 10/15 | €39,372 | €39,735 | +€363 | +0.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €34,500 | €34,500 | = | 0.0% |
| Distributable reserves | 133 | €34,500 | €34,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €872 | €1,235 | +€363 | +41.6% |
| Amounts payable | 17/49 | €14,227 | €22,006 | +€7,778 | +54.7% |
| Amounts payable within one year | 42/48 | €14,227 | €22,006 | +€7,778 | +54.7% |
| Current portion of amounts payable after more than one year | 42 | - | €9,000 | +€9,000 | |
| Trade debts | 44 | €2,813 | €3,684 | +€871 | +31.0% |
| Suppliers | 440/4 | €2,813 | €3,684 | +€871 | +31.0% |
| Taxes, remuneration and social security | 45 | €11,415 | €9,322 | -€2,093 | -18.3% |
| Taxes | 450/3 | €8,915 | €9,322 | +€407 | +4.6% |
| Remuneration and social security | 454/9 | €2,500 | - | -€2,500 | |
| Remuneration, social security and pensions | 62 | €3,650 | €3,624 | -€26 | -0.7% |
| Other operating charges | 640/8 | - | €609 | +€609 | |
| Gross operating margin | 9900 | €43,465 | €8,119 | -€35,345 | -81.3% |
| Operating profit (loss) | 9901 | €39,814 | €3,886 | -€35,928 | -90.2% |
| Financial income | 75/76B | €77 | €6 | -€71 | -92.3% |
| Recurring financial income | 75 | €77 | €6 | -€71 | -92.3% |
| Financial charges | 65/66B | €168 | €813 | +€645 | +383% |
| Recurring financial charges | 65 | €168 | €813 | +€645 | +383% |
| Profit (loss) for the period before taxes | 9903 | €39,723 | €3,080 | -€36,643 | -92.2% |
| Income taxes | 67/77 | €8,384 | €2,717 | -€5,667 | -67.6% |
| Profit (loss) for the period | 9904 | €31,339 | €363 | -€30,976 | -98.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,339 | €363 | -€30,976 | -98.8% |
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 20 October 2026 via checked.be.