The Pink Hat: 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.
The Pink Hat
Largest movements
- Cash +€12,381
up €12,381 (+47.4%), from €26,129 to €38,510
mainly Other debts (+€40,088) and Net result for the year (+€21,173)
- Receivables within one year -€11,846
down €11,846 (-42.4%), from €27,936 to €16,090
of which Other amounts receivable: -€11,073
- Tangible fixed assets +€2,323
up €2,323 (+220%), from €1,057 to €3,380
of which Furniture and vehicles: +€2,453
- Other debts +€40,088
new in 2025: €40,088
- Reserves -€38,915
down €38,915 (-75.0%), from €51,897 to €12,981
- Trade debts +€1,287
up €1,287, from €0 to €1,287
- Gross operating margin +€39,401
up €39,401, from -€14,280 to €25,120
- Taxes +€2,439
up €2,439 (+1,906%), from €128 to €2,567
- Other operating charges +€1,077
up €1,077 (+170%), from €633 to €1,710
- Depreciation +€306
up €306 (+236%), from €130 to €435
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 | €55,371 | €57,979 | +€2,608 | +4.7% |
| Fixed assets | 21/28 | €1,307 | €3,380 | +€2,073 | +159% |
| Tangible fixed assets | 22/27 | €1,057 | €3,380 | +€2,323 | +220% |
| Furniture and vehicles | 24 | - | €2,453 | +€2,453 | |
| Other tangible fixed assets | 26 | €1,057 | €927 | -€130 | -12.3% |
| Financial fixed assets | 28 | €250 | €0 | -€250 | -100% |
| Current assets | 29/58 | €54,065 | €54,600 | +€535 | +1.0% |
| Amounts receivable within one year | 40/41 | €27,936 | €16,090 | -€11,846 | -42.4% |
| Trade receivables | 40 | €3,001 | €2,228 | -€773 | -25.8% |
| Other amounts receivable | 41 | €24,935 | €13,862 | -€11,073 | -44.4% |
| Cash at bank and in hand | 54/58 | €26,129 | €38,510 | +€12,381 | +47.4% |
| Total equity and liabilities | 10/49 | €55,371 | €57,979 | +€2,608 | +4.7% |
| Equity | 10/15 | €54,397 | €15,481 | -€38,915 | -71.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €51,897 | €12,981 | -€38,915 | -75.0% |
| Distributable reserves | 133 | €51,897 | €12,981 | -€38,915 | -75.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €975 | €42,498 | +€41,524 | +4,261% |
| Amounts payable within one year | 42/48 | €975 | €42,498 | +€41,524 | +4,261% |
| Financial debts | 43 | €55 | €74 | +€19 | +35.1% |
| Credit institutions | 430/8 | €55 | €74 | +€19 | +35.1% |
| Trade debts | 44 | €0 | €1,287 | +€1,287 | |
| Suppliers | 440/4 | €0 | €1,287 | +€1,287 | |
| Taxes, remuneration and social security | 45 | €920 | €1,050 | +€130 | +14.1% |
| Taxes | 450/3 | €920 | €1,050 | +€130 | +14.1% |
| Other amounts payable | 47/48 | - | €40,088 | +€40,088 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130 | €435 | +€306 | +236% |
| Other operating charges | 640/8 | €633 | €1,710 | +€1,077 | +170% |
| Gross operating margin | 9900 | -€14,280 | €25,120 | +€39,401 | |
| Operating profit (loss) | 9901 | -€15,043 | €22,976 | +€38,018 | |
| Financial income | 75/76B | €918 | €1,033 | +€115 | +12.6% |
| Recurring financial income | 75 | €918 | €1,033 | +€115 | +12.6% |
| Financial charges | 65/66B | €153 | €269 | +€117 | +76.4% |
| Recurring financial charges | 65 | €153 | €269 | +€117 | +76.4% |
| Profit (loss) for the period before taxes | 9903 | -€14,278 | €23,740 | +€38,017 | |
| Income taxes | 67/77 | €128 | €2,567 | +€2,439 | +1,906% |
| Profit (loss) for the period | 9904 | -€14,406 | €21,173 | +€35,578 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,406 | €21,173 | +€35,578 |
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 30 October 2026 via checked.be.