Pynaert Koen: 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.
Pynaert Koen
Largest movements
- Receivables within one year +€57,557
up €57,557 (+374%), from €15,395 to €72,952
of which Trade receivables: +€55,100
- Tangible fixed assets +€6,687
up €6,687 (+2,349%), from €285 to €6,972
of which Furniture and vehicles: +€6,972
- Cash -€3,194
down €3,194 (-99.9%), from €3,197 to €3
mainly Receivables within one year (-€57,557) and Investment in fixed assets (net) (-€8,233)
- Other debts +€54,472
up €54,472 (+506%), from €10,765 to €65,238
- Profit (loss) carried forward +€10,443
up €10,443 (+77.6%), from -€13,459 to -€3,016
- Trade debts -€3,762
down €3,762 (-46.8%), from €8,037 to €4,275
- Gross operating margin +€13,957
up €13,957, from -€1,062 to €12,895
- Depreciation +€1,105
up €1,105 (+251%), from €440 to €1,546
- Other operating charges +€446
up €446 (+112%), from €399 to €845
- Financial charges -€207
down €207 (-77.1%), from €268 to €61
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 | €18,877 | €79,927 | +€61,050 | +323% |
| Fixed assets | 21/28 | €285 | €6,972 | +€6,687 | +2,349% |
| Tangible fixed assets | 22/27 | €285 | €6,972 | +€6,687 | +2,349% |
| Plant, machinery and equipment | 23 | €285 | €0 | -€285 | -100% |
| Furniture and vehicles | 24 | - | €6,972 | +€6,972 | |
| Current assets | 29/58 | €18,592 | €72,955 | +€54,363 | +292% |
| Amounts receivable within one year | 40/41 | €15,395 | €72,952 | +€57,557 | +374% |
| Trade receivables | 40 | €13,789 | €68,889 | +€55,100 | +400% |
| Other amounts receivable | 41 | €1,606 | €4,063 | +€2,457 | +153% |
| Cash at bank and in hand | 54/58 | €3,197 | €3 | -€3,194 | -99.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €18,877 | €79,927 | +€61,050 | +323% |
| Equity | 10/15 | -€28 | €10,415 | +€10,443 | |
| Contributions | 10/11 | €6,600 | €6,600 | = | 0.0% |
| Reserves | 13 | €6,831 | €6,831 | = | 0.0% |
| Non-distributable reserves | 130/1 | €124 | €124 | = | 0.0% |
| Reserves not available under the articles | 1311 | €124 | €124 | = | 0.0% |
| Distributable reserves | 133 | €6,707 | €6,707 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,459 | -€3,016 | +€10,443 | +77.6% |
| Amounts payable | 17/49 | €18,905 | €69,512 | +€50,608 | +268% |
| Amounts payable within one year | 42/48 | €18,905 | €69,512 | +€50,608 | +268% |
| Trade debts | 44 | €8,037 | €4,275 | -€3,762 | -46.8% |
| Suppliers | 440/4 | €8,037 | €4,275 | -€3,762 | -46.8% |
| Taxes, remuneration and social security | 45 | €103 | €0 | -€103 | -100% |
| Taxes | 450/3 | €103 | €0 | -€103 | -100% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €10,765 | €65,238 | +€54,472 | +506% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €440 | €1,546 | +€1,105 | +251% |
| Other operating charges | 640/8 | €399 | €845 | +€446 | +112% |
| Gross operating margin | 9900 | -€1,062 | €12,895 | +€13,957 | |
| Operating profit (loss) | 9901 | -€1,902 | €10,504 | +€12,406 | |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €268 | €61 | -€207 | -77.1% |
| Recurring financial charges | 65 | €268 | €61 | -€207 | -77.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,170 | €10,443 | +€12,613 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€2,170 | €10,443 | +€12,613 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,170 | €10,443 | +€12,613 |
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 24 October 2026 via checked.be.