PIXNAMI: what changed
Two fiscal 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.
PIXNAMI
Largest movements
- Intangible fixed assets +€626,148
up €626,148 (+186.6%), from €335,499 to €961,647
- Cash +€20,207
up €20,207 (+19.8%), from €101,861 to €122,068
mainly Net result for the year (+€241,343) and Trade debts (+€202,622)
- Reserves +€240,000
up €240,000 (+5131.9%), from €4,677 to €244,677
- Trade debts +€202,622
up €202,622 (+80.1%), from €253,099 to €455,720
- Other debts +€180,000
up €180,000 (+17832.0%), from €1,009 to €181,009
- Profit (loss) carried forward -€178,657
down €178,657 (-97.4%), from €183,435 to €4,778
- Debts after one year +€94,892
up €94,892 (+94.1%), from €100,833 to €195,726
- Gross operating margin +€175,813
up €175,813 (+30.2%), from €583,115 to €758,927
- Taxes +€117,938
up €117,938 (+5795.7%), from €2,035 to €119,973
- Staff costs +€59,327
up €59,327 (+32.2%), from €184,334 to €243,661
- Depreciation -€54,309
down €54,309 (-49.4%), from €109,920 to €55,612
- Financial charges +€27,682
up €27,682 (+90.9%), from €30,468 to €58,150
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 | €745,522 | €1,377,399 | +€631,877 | +84.8% |
| Fixed assets | 21/28 | €364,351 | €987,765 | +€623,414 | +171.1% |
| Intangible fixed assets | 21 | €335,499 | €961,647 | +€626,148 | +186.6% |
| Tangible fixed assets | 22/27 | €27,240 | €21,255 | -€5,985 | -22.0% |
| Plant, machinery and equipment | 23 | €19,641 | €14,718 | -€4,923 | -25.1% |
| Furniture and vehicles | 24 | €7,599 | €6,537 | -€1,062 | -14.0% |
| Financial fixed assets | 28 | €1,613 | €4,863 | +€3,250 | +201.6% |
| Current assets | 29/58 | €381,171 | €389,635 | +€8,464 | +2.2% |
| Amounts receivable within one year | 40/41 | €279,239 | €267,434 | -€11,805 | -4.2% |
| Trade receivables | 40 | €171,891 | €129,715 | -€42,177 | -24.5% |
| Other amounts receivable | 41 | €107,348 | €137,720 | +€30,372 | +28.3% |
| Cash at bank and in hand | 54/58 | €101,861 | €122,068 | +€20,207 | +19.8% |
| Deferred charges and accrued income | 490/1 | €71 | €132 | +€61 | +86.4% |
| Total equity and liabilities | 10/49 | €745,522 | €1,377,399 | +€631,877 | +84.8% |
| Equity | 10/15 | €328,112 | €389,455 | +€61,343 | +18.7% |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Reserves | 13 | €4,677 | €244,677 | +€240,000 | +5131.9% |
| Distributable reserves | 133 | €4,677 | €244,677 | +€240,000 | +5131.9% |
| Profit (loss) carried forward | 14 | €183,435 | €4,778 | -€178,657 | -97.4% |
| Amounts payable | 17/49 | €417,410 | €987,944 | +€570,534 | +136.7% |
| Amounts payable after more than one year | 17 | €100,833 | €195,726 | +€94,892 | +94.1% |
| Financial debts | 170/4 | €100,833 | €195,726 | +€94,892 | +94.1% |
| Amounts payable within one year | 42/48 | €316,577 | €792,219 | +€475,642 | +150.2% |
| Current portion of amounts payable after more than one year | 42 | €9,167 | €9,167 | = | 0.0% |
| Financial debts | 43 | €3,432 | €54,635 | +€51,204 | +1492.1% |
| Credit institutions | 430/8 | €3,432 | €54,635 | +€51,204 | +1492.1% |
| Trade debts | 44 | €253,099 | €455,720 | +€202,622 | +80.1% |
| Suppliers | 440/4 | €253,099 | €455,720 | +€202,622 | +80.1% |
| Taxes, remuneration and social security | 45 | €49,870 | €91,687 | +€41,817 | +83.9% |
| Taxes | 450/3 | €6,401 | €55,362 | +€48,962 | +765.0% |
| Remuneration and social security | 454/9 | €43,470 | €36,325 | -€7,145 | -16.4% |
| Other amounts payable | 47/48 | €1,009 | €181,009 | +€180,000 | +17832.0% |
| Non-recurring operating income | 76A | - | €181,030 | +€181,030 | |
| Remuneration, social security and pensions | 62 | €184,334 | €243,661 | +€59,327 | +32.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,920 | €55,612 | -€54,309 | -49.4% |
| Other operating charges | 640/8 | €602 | €11,711 | +€11,110 | +1846.9% |
| Non-recurring operating charges | 66A | - | €37,990 | +€37,990 | |
| Gross operating margin | 9900 | €583,115 | €758,927 | +€175,813 | +30.2% |
| Operating profit (loss) | 9901 | €288,259 | €409,954 | +€121,694 | +42.2% |
| Financial income | 75/76B | €3,462 | €9,513 | +€6,051 | +174.8% |
| Recurring financial income | 75 | €3,462 | €9,513 | +€6,051 | +174.8% |
| Financial charges | 65/66B | €30,468 | €58,150 | +€27,682 | +90.9% |
| Recurring financial charges | 65 | €30,468 | €58,150 | +€27,682 | +90.9% |
| Profit (loss) for the period before taxes | 9903 | €261,253 | €361,316 | +€100,063 | +38.3% |
| Income taxes | 67/77 | €2,035 | €119,973 | +€117,938 | +5795.7% |
| Profit (loss) for the period | 9904 | €259,218 | €241,343 | -€17,875 | -6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €259,218 | €241,343 | -€17,875 | -6.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.