PIXEL PASSION: 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 PASSION
Largest movements
- Financial fixed assets -€40,000
down €40,000 (-100%), from €40,000 to €0
- Receivables within one year +€37,604
up €37,604 (+88.2%), from €42,643 to €80,247
of which Trade receivables: +€47,506
- Tangible fixed assets +€35,210
up €35,210 (+56.1%), from €62,805 to €98,014
of which Other tangible fixed assets: +€39,083
- Cash -€32,278
down €32,278 (-84.4%), from €38,266 to €5,988
mainly Receivables within one year (-€37,604) and Contributions, distributions and other (-€34,500)
- Deferred charges and accrued income -€2,195
down €2,195 (-62.1%), from €3,536 to €1,341
- Other debts +€49,760
up €49,760 (+696%), from €7,145 to €56,905
- Reserves -€34,500
down €34,500 (-62.5%), from €55,187 to €20,687
of which Distributable reserves: -€34,500
- Tax, wage and social debts +€27,481
up €27,481 (+86.8%), from €31,655 to €59,136
of which Remuneration and social security: +€14,365
- Profit (loss) carried forward -€21,848
down €21,848, from €2,748 to -€19,100
- Trade debts -€12,806
down €12,806 (-26.0%), from €49,289 to €36,483
- Gross operating margin -€48,719
down €48,719 (-33.2%), from €146,762 to €98,043
- Staff costs +€21,963
up €21,963 (+44.6%), from €49,237 to €71,201
- Other operating charges -€11,794
down €11,794 (-76.2%), from €15,470 to €3,676
- Financial income +€10,144
new in 2025: €10,144
- Taxes +€5,210
up €5,210 (+14.2%), from €36,811 to €42,021
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 | €202,399 | €200,740 | -€1,660 | -0.8% |
| Fixed assets | 21/28 | €102,805 | €98,014 | -€4,790 | -4.7% |
| Tangible fixed assets | 22/27 | €62,805 | €98,014 | +€35,210 | +56.1% |
| Plant, machinery and equipment | 23 | €9,615 | €8,104 | -€1,511 | -15.7% |
| Furniture and vehicles | 24 | €5,037 | €2,674 | -€2,362 | -46.9% |
| Other tangible fixed assets | 26 | €48,153 | €87,236 | +€39,083 | +81.2% |
| Financial fixed assets | 28 | €40,000 | €0 | -€40,000 | -100% |
| Current assets | 29/58 | €99,595 | €102,726 | +€3,131 | +3.1% |
| Stocks and contracts in progress | 3 | €15,150 | €15,150 | = | 0.0% |
| Stocks | 30/36 | €15,150 | €15,150 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €42,643 | €80,247 | +€37,604 | +88.2% |
| Trade receivables | 40 | €32,409 | €79,914 | +€47,506 | +147% |
| Other amounts receivable | 41 | €10,234 | €332 | -€9,902 | -96.8% |
| Cash at bank and in hand | 54/58 | €38,266 | €5,988 | -€32,278 | -84.4% |
| Deferred charges and accrued income | 490/1 | €3,536 | €1,341 | -€2,195 | -62.1% |
| Total equity and liabilities | 10/49 | €202,399 | €200,740 | -€1,660 | -0.8% |
| Equity | 10/15 | €77,934 | €21,587 | -€56,348 | -72.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €55,187 | €20,687 | -€34,500 | -62.5% |
| Non-distributable reserves | 130/1 | €687 | €687 | = | 0.0% |
| Reserves not available under the articles | 1311 | €687 | €687 | = | 0.0% |
| Distributable reserves | 133 | €54,500 | €20,000 | -€34,500 | -63.3% |
| Profit (loss) carried forward | 14 | €2,748 | -€19,100 | -€21,848 | |
| Amounts payable | 17/49 | €124,465 | €179,153 | +€54,688 | +43.9% |
| Amounts payable after more than one year | 17 | €26,629 | €16,809 | -€9,820 | -36.9% |
| Financial debts | 170/4 | €26,629 | €16,809 | -€9,820 | -36.9% |
| Amounts payable within one year | 42/48 | €97,836 | €162,344 | +€64,509 | +65.9% |
| Current portion of amounts payable after more than one year | 42 | €9,627 | €9,820 | +€193 | +2.0% |
| Trade debts | 44 | €49,289 | €36,483 | -€12,806 | -26.0% |
| Suppliers | 440/4 | €49,289 | €36,483 | -€12,806 | -26.0% |
| Advances received on contracts in progress | 46 | €120 | €0 | -€120 | -100% |
| Taxes, remuneration and social security | 45 | €31,655 | €59,136 | +€27,481 | +86.8% |
| Taxes | 450/3 | €20,193 | €33,309 | +€13,116 | +65.0% |
| Remuneration and social security | 454/9 | €11,463 | €25,828 | +€14,365 | +125% |
| Other amounts payable | 47/48 | €7,145 | €56,905 | +€49,760 | +696% |
| Remuneration, social security and pensions | 62 | €49,237 | €71,201 | +€21,963 | +44.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,089 | €4,415 | +€326 | +8.0% |
| Other operating charges | 640/8 | €15,470 | €3,676 | -€11,794 | -76.2% |
| Gross operating margin | 9900 | €146,762 | €98,043 | -€48,719 | -33.2% |
| Operating profit (loss) | 9901 | €77,965 | €18,752 | -€59,213 | -75.9% |
| Financial income | 75/76B | - | €10,144 | +€10,144 | |
| Recurring financial income | 75 | - | €10,144 | +€10,144 | |
| Financial charges | 65/66B | €10,091 | €8,722 | -€1,369 | -13.6% |
| Recurring financial charges | 65 | €10,091 | €8,722 | -€1,369 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €67,874 | €20,174 | -€47,700 | -70.3% |
| Income taxes | 67/77 | €36,811 | €42,021 | +€5,210 | +14.2% |
| Profit (loss) for the period | 9904 | €31,063 | -€21,848 | -€52,910 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,063 | -€21,848 | -€52,910 |
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 14 October 2026 via checked.be.