Pixel Factory: 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.
Pixel Factory
Largest movements
- Receivables within one year +€7,689
up €7,689 (+83.2%), from €9,245 to €16,934
of which Trade receivables: +€6,508
- Cash -€5,620
down €5,620 (-32.2%), from €17,448 to €11,828
mainly Receivables within one year (-€7,689) and Debts after one year (-€5,013)
- Tangible fixed assets -€5,046
down €5,046 (-32.0%), from €15,785 to €10,739
of which Furniture and vehicles: -€4,308
- Debts after one year -€5,013
down €5,013 (-40.0%), from €12,520 to €7,507
- Trade debts +€3,800
up €3,800 (+713%), from €533 to €4,333
- Other debts -€2,813
down €2,813 (-50.0%), from €5,625 to €2,812
- Advances received -€2,682
down €2,682 (-33.7%), from €7,947 to €5,265
- Tax, wage and social debts +€1,730
up €1,730 (+88.4%), from €1,957 to €3,687
of which Taxes: +€1,277
- Staff costs +€23,296
up €23,296 (+163%), from €14,250 to €37,546
- Gross operating margin +€21,948
up €21,948 (+87.0%), from €25,234 to €47,182
- Depreciation +€1,305
up €1,305 (+25.0%), from €5,230 to €6,535
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 | €44,136 | €40,583 | -€3,553 | -8.1% |
| Formation expenses | 20 | €703 | €527 | -€176 | -25.0% |
| Fixed assets | 21/28 | €15,785 | €10,739 | -€5,046 | -32.0% |
| Tangible fixed assets | 22/27 | €15,785 | €10,739 | -€5,046 | -32.0% |
| Furniture and vehicles | 24 | €12,494 | €8,186 | -€4,308 | -34.5% |
| Other tangible fixed assets | 26 | €3,291 | €2,553 | -€738 | -22.4% |
| Current assets | 29/58 | €27,648 | €29,317 | +€1,669 | +6.0% |
| Stocks and contracts in progress | 3 | €732 | €300 | -€432 | -59.0% |
| Stocks | 30/36 | €732 | €300 | -€432 | -59.0% |
| Amounts receivable within one year | 40/41 | €9,245 | €16,934 | +€7,689 | +83.2% |
| Trade receivables | 40 | €8,290 | €14,798 | +€6,508 | +78.5% |
| Other amounts receivable | 41 | €955 | €2,136 | +€1,181 | +124% |
| Cash at bank and in hand | 54/58 | €17,448 | €11,828 | -€5,620 | -32.2% |
| Deferred charges and accrued income | 490/1 | €223 | €255 | +€32 | +14.3% |
| Total equity and liabilities | 10/49 | €44,136 | €40,583 | -€3,553 | -8.1% |
| Equity | 10/15 | €10,767 | €11,966 | +€1,199 | +11.1% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,267 | €4,466 | +€1,199 | +36.7% |
| Amounts payable | 17/49 | €33,369 | €28,617 | -€4,752 | -14.2% |
| Amounts payable after more than one year | 17 | €12,520 | €7,507 | -€5,013 | -40.0% |
| Financial debts | 170/4 | €12,520 | €7,507 | -€5,013 | -40.0% |
| Amounts payable within one year | 42/48 | €20,849 | €21,110 | +€261 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €4,787 | €5,013 | +€226 | +4.7% |
| Trade debts | 44 | €533 | €4,333 | +€3,800 | +713% |
| Suppliers | 440/4 | €533 | €4,333 | +€3,800 | +713% |
| Advances received on contracts in progress | 46 | €7,947 | €5,265 | -€2,682 | -33.7% |
| Taxes, remuneration and social security | 45 | €1,957 | €3,687 | +€1,730 | +88.4% |
| Taxes | 450/3 | €311 | €1,588 | +€1,277 | +411% |
| Remuneration and social security | 454/9 | €1,646 | €2,099 | +€453 | +27.5% |
| Other amounts payable | 47/48 | €5,625 | €2,812 | -€2,813 | -50.0% |
| Remuneration, social security and pensions | 62 | €14,250 | €37,546 | +€23,296 | +163% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,230 | €6,535 | +€1,305 | +25.0% |
| Other operating charges | 640/8 | €852 | €591 | -€261 | -30.6% |
| Gross operating margin | 9900 | €25,234 | €47,182 | +€21,948 | +87.0% |
| Operating profit (loss) | 9901 | €4,902 | €2,510 | -€2,392 | -48.8% |
| Financial charges | 65/66B | €1,090 | €992 | -€98 | -9.0% |
| Recurring financial charges | 65 | €1,090 | €992 | -€98 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €3,812 | €1,518 | -€2,294 | -60.2% |
| Income taxes | 67/77 | €545 | €319 | -€226 | -41.5% |
| Profit (loss) for the period | 9904 | €3,267 | €1,199 | -€2,068 | -63.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,267 | €1,199 | -€2,068 | -63.3% |
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 16 October 2026 via checked.be.