PIXINK: 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.
PIXINK
Largest movements
- Tangible fixed assets +€73,615
up €73,615 (+15.8%), from €466,899 to €540,515
of which Plant, machinery and equipment: +€88,871
- Stocks and contracts +€36,987
up €36,987 (+41.4%), from €89,355 to €126,342
- Receivables within one year +€24,416
up €24,416 (+43.7%), from €55,928 to €80,344
of which Trade receivables: +€24,416
- Debts after one year +€65,723
up €65,723 (+23.6%), from €278,785 to €344,508
- Trade debts +€26,855
up €26,855 (+50.3%), from €53,397 to €80,252
- Current portion of long-term debt +€24,112
up €24,112 (+38.2%), from €63,194 to €87,306
- Short-term financial debts +€10,914
up €10,914 (+100.3%), from €10,881 to €21,795
- Purchases and services -€31,893
down €31,893 (-6.9%), from €462,224 to €430,331
- Gross operating margin +€26,058
up €26,058 (+15.1%), from €172,590 to €198,648
- Staff costs +€22,504
up €22,504 (+30.0%), from €74,939 to €97,443
- Depreciation +€6,515
up €6,515 (+11.0%), from €59,262 to €65,777
- Other operating charges +€4,926
up €4,926 (+80.9%), from €6,090 to €11,016
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 | €615,259 | €747,201 | +€131,942 | +21.4% |
| Fixed assets | 21/28 | €466,899 | €540,515 | +€73,615 | +15.8% |
| Tangible fixed assets | 22/27 | €466,899 | €540,515 | +€73,615 | +15.8% |
| Land and buildings | 22 | €341,963 | €328,477 | -€13,487 | -3.9% |
| Plant, machinery and equipment | 23 | €120,503 | €209,374 | +€88,871 | +73.8% |
| Furniture and vehicles | 24 | €4,434 | €2,664 | -€1,769 | -39.9% |
| Current assets | 29/58 | €148,359 | €206,686 | +€58,326 | +39.3% |
| Stocks and contracts in progress | 3 | €89,355 | €126,342 | +€36,987 | +41.4% |
| Stocks | 30/36 | €89,355 | €126,342 | +€36,987 | +41.4% |
| Amounts receivable within one year | 40/41 | €55,928 | €80,344 | +€24,416 | +43.7% |
| Trade receivables | 40 | €55,728 | €80,144 | +€24,416 | +43.8% |
| Other amounts receivable | 41 | €200 | €200 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,468 | - | -€1,468 | |
| Deferred charges and accrued income | 490/1 | €1,608 | - | -€1,608 | |
| Total equity and liabilities | 10/49 | €615,259 | €747,201 | +€131,942 | +21.4% |
| Equity | 10/15 | €152,703 | €154,862 | +€2,159 | +1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €134,103 | €136,262 | +€2,159 | +1.6% |
| Distributable reserves | 133 | €134,103 | €136,262 | +€2,159 | +1.6% |
| Amounts payable | 17/49 | €462,556 | €592,339 | +€129,783 | +28.1% |
| Amounts payable after more than one year | 17 | €278,785 | €344,508 | +€65,723 | +23.6% |
| Financial debts | 170/4 | €278,785 | €344,508 | +€65,723 | +23.6% |
| Amounts payable within one year | 42/48 | €183,771 | €247,831 | +€64,059 | +34.9% |
| Current portion of amounts payable after more than one year | 42 | €63,194 | €87,306 | +€24,112 | +38.2% |
| Financial debts | 43 | €10,881 | €21,795 | +€10,914 | +100.3% |
| Credit institutions | 430/8 | €10,881 | €21,795 | +€10,914 | +100.3% |
| Trade debts | 44 | €53,397 | €80,252 | +€26,855 | +50.3% |
| Suppliers | 440/4 | €53,397 | €80,252 | +€26,855 | +50.3% |
| Taxes, remuneration and social security | 45 | €25,964 | €28,599 | +€2,635 | +10.1% |
| Taxes | 450/3 | €14,314 | €17,112 | +€2,797 | +19.5% |
| Remuneration and social security | 454/9 | €11,650 | €11,487 | -€162 | -1.4% |
| Other amounts payable | 47/48 | €30,336 | €29,879 | -€457 | -1.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €462,224 | €430,331 | -€31,893 | -6.9% |
| Remuneration, social security and pensions | 62 | €74,939 | €97,443 | +€22,504 | +30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,262 | €65,777 | +€6,515 | +11.0% |
| Other operating charges | 640/8 | €6,090 | €11,016 | +€4,926 | +80.9% |
| Non-recurring operating charges | 66A | - | €756 | +€756 | |
| Gross operating margin | 9900 | €172,590 | €198,648 | +€26,058 | +15.1% |
| Operating profit (loss) | 9901 | €32,299 | €23,657 | -€8,643 | -26.8% |
| Financial income | 75/76B | €2,506 | €675 | -€1,831 | -73.1% |
| Recurring financial income | 75 | €2,506 | €675 | -€1,831 | -73.1% |
| Financial charges | 65/66B | €16,811 | €17,201 | +€390 | +2.3% |
| Recurring financial charges | 65 | €16,811 | €17,201 | +€390 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €17,994 | €7,130 | -€10,864 | -60.4% |
| Income taxes | 67/77 | €3,734 | €4,971 | +€1,237 | +33.1% |
| Profit (loss) for the period | 9904 | €14,260 | €2,159 | -€12,101 | -84.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,260 | €2,159 | -€12,101 | -84.9% |
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 11 October 2026 via checked.be.