PIXCOM: 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.
PIXCOM
Largest movements
- Receivables within one year -€9,492
down €9,492 (-33.5%), from €28,371 to €18,879
of which Trade receivables: -€9,283
- Tangible fixed assets -€9,221
down €9,221 (-32.3%), from €28,524 to €19,302
- Stocks and contracts +€6,425
up €6,425 (+252%), from €2,550 to €8,975
- Cash -€3,728
down €3,728 (-55.2%), from €6,748 to €3,020
mainly Net result for the year (-€8,994) and Debts after one year (-€6,484)
- Intangible fixed assets -€3,629
down €3,629 (-25.3%), from €14,365 to €10,737
- Profit (loss) carried forward -€8,994
down €8,994 (-254%), from -€3,535 to -€12,529
- Debts after one year -€6,484
down €6,484 (-72.1%), from €8,999 to €2,515
- Tax, wage and social debts -€2,566
down €2,566 (-52.0%), from €4,939 to €2,373
- Trade debts -€2,168
down €2,168 (-17.6%), from €12,327 to €10,159
- Current portion of long-term debt -€1,136
down €1,136 (-15.4%), from €7,398 to €6,262
- Gross operating margin -€7,095
down €7,095 (-47.6%), from €14,911 to €7,816
- Other operating charges -€5,881
down €5,881 (-92.4%), from €6,362 to €481
- Write-downs +€4,700
no longer reported in 2025 (was -€4,700)
- Depreciation -€4,668
down €4,668 (-26.6%), from €17,518 to €12,850
- Financial income -€694
down €694 (-98.1%), from €707 to €13
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 | €89,403 | €68,098 | -€21,305 | -23.8% |
| Fixed assets | 21/28 | €46,639 | €33,789 | -€12,850 | -27.6% |
| Intangible fixed assets | 21 | €14,365 | €10,737 | -€3,629 | -25.3% |
| Tangible fixed assets | 22/27 | €28,524 | €19,302 | -€9,221 | -32.3% |
| Plant, machinery and equipment | 23 | €7,805 | €3,451 | -€4,354 | -55.8% |
| Furniture and vehicles | 24 | €2,038 | - | -€2,038 | |
| Other tangible fixed assets | 26 | €18,680 | €15,852 | -€2,829 | -15.1% |
| Financial fixed assets | 28 | €3,750 | €3,750 | = | 0.0% |
| Current assets | 29/58 | €42,765 | €34,310 | -€8,455 | -19.8% |
| Stocks and contracts in progress | 3 | €2,550 | €8,975 | +€6,425 | +252% |
| Stocks | 30/36 | €2,550 | €8,975 | +€6,425 | +252% |
| Amounts receivable within one year | 40/41 | €28,371 | €18,879 | -€9,492 | -33.5% |
| Trade receivables | 40 | €23,345 | €14,062 | -€9,283 | -39.8% |
| Other amounts receivable | 41 | €5,027 | €4,817 | -€209 | -4.2% |
| Cash at bank and in hand | 54/58 | €6,748 | €3,020 | -€3,728 | -55.2% |
| Deferred charges and accrued income | 490/1 | €5,095 | €3,435 | -€1,660 | -32.6% |
| Total equity and liabilities | 10/49 | €89,403 | €68,098 | -€21,305 | -23.8% |
| Equity | 10/15 | €41,041 | €32,047 | -€8,994 | -21.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,976 | €25,976 | = | 0.0% |
| Distributable reserves | 133 | €25,976 | €25,976 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,535 | -€12,529 | -€8,994 | -254% |
| Amounts payable | 17/49 | €48,362 | €36,051 | -€12,311 | -25.5% |
| Amounts payable after more than one year | 17 | €8,999 | €2,515 | -€6,484 | -72.1% |
| Financial debts | 170/4 | €8,999 | €2,515 | -€6,484 | -72.1% |
| Amounts payable within one year | 42/48 | €39,363 | €33,536 | -€5,827 | -14.8% |
| Current portion of amounts payable after more than one year | 42 | €7,398 | €6,262 | -€1,136 | -15.4% |
| Trade debts | 44 | €12,327 | €10,159 | -€2,168 | -17.6% |
| Suppliers | 440/4 | €12,327 | €10,159 | -€2,168 | -17.6% |
| Taxes, remuneration and social security | 45 | €4,939 | €2,373 | -€2,566 | -52.0% |
| Taxes | 450/3 | €4,939 | €2,373 | -€2,566 | -52.0% |
| Other amounts payable | 47/48 | €14,700 | €14,743 | +€43 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,518 | €12,850 | -€4,668 | -26.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,700 | - | +€4,700 | |
| Other operating charges | 640/8 | €6,362 | €481 | -€5,881 | -92.4% |
| Gross operating margin | 9900 | €14,911 | €7,816 | -€7,095 | -47.6% |
| Operating profit (loss) | 9901 | -€4,269 | -€5,515 | -€1,245 | -29.2% |
| Financial income | 75/76B | €707 | €13 | -€694 | -98.1% |
| Recurring financial income | 75 | €707 | €13 | -€694 | -98.1% |
| Financial charges | 65/66B | €3,345 | €2,863 | -€482 | -14.4% |
| Recurring financial charges | 65 | €3,345 | €2,863 | -€482 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,907 | -€8,364 | -€1,457 | -21.1% |
| Income taxes | 67/77 | €557 | €630 | +€73 | +13.1% |
| Profit (loss) for the period | 9904 | -€7,464 | -€8,994 | -€1,530 | -20.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,464 | -€8,994 | -€1,530 | -20.5% |
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 15 October 2026 via checked.be.