THINK-PINK: 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.
THINK-PINK
Largest movements
- Current investments -€1.1m
down €1.1m (-99.9%), from €1.1m to €906
- Cash +€373,753
up €373,753 (+235%), from €158,753 to €532,506
mainly Current investments (+€1.1m) and Debts after one year (+€156,696)
- Intangible fixed assets +€102,021
up €102,021 (+154%), from €66,213 to €168,233
- Receivables within one year -€73,991
down €73,991 (-33.9%), from €218,480 to €144,489
of which Trade receivables: -€77,530
- Deferred charges and accrued income -€20,963
down €20,963 (-48.4%), from €43,302 to €22,339
- Profit (loss) carried forward -€517,146
down €517,146 (-86.9%), from €595,162 to €78,016
- Tax, wage and social debts -€176,426
down €176,426 (-57.2%), from €308,417 to €131,991
of which Remuneration and social security: -€125,878
- Debts after one year +€156,696
new in 2025: €156,696
- Reserves -€99,477
down €99,477 (-16.7%), from €597,114 to €497,637
- Trade debts -€78,504
down €78,504 (-56.3%), from €139,470 to €60,967
- Gross operating margin -€160,626
down €160,626 (-12.0%), from €1.3m to €1.2m
- Staff costs +€104,521
up €104,521 (+7.8%), from €1.3m to €1.4m
- Depreciation +€30,212
up €30,212 (+135%), from €22,342 to €52,554
- Other operating charges +€14,523
up €14,523 (+22.6%), from €64,123 to €78,646
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 | €1,640,867 | €965,738 | -€675,129 | -41.1% |
| Fixed assets | 21/28 | €86,559 | €187,077 | +€100,518 | +116% |
| Intangible fixed assets | 21 | €66,213 | €168,233 | +€102,021 | +154% |
| Tangible fixed assets | 22/27 | €18,181 | €16,667 | -€1,515 | -8.3% |
| Plant, machinery and equipment | 23 | €371 | €0 | -€371 | -100% |
| Furniture and vehicles | 24 | €12,628 | €12,591 | -€37 | -0.3% |
| Other tangible fixed assets | 26 | €5,182 | €4,076 | -€1,106 | -21.3% |
| Financial fixed assets | 28 | €2,165 | €2,177 | +€11 | +0.5% |
| Current assets | 29/58 | €1,554,308 | €778,661 | -€775,646 | -49.9% |
| Stocks and contracts in progress | 3 | €76,669 | €78,421 | +€1,752 | +2.3% |
| Stocks | 30/36 | €76,669 | €78,421 | +€1,752 | +2.3% |
| Amounts receivable within one year | 40/41 | €218,480 | €144,489 | -€73,991 | -33.9% |
| Trade receivables | 40 | €212,294 | €134,765 | -€77,530 | -36.5% |
| Other amounts receivable | 41 | €6,185 | €9,725 | +€3,539 | +57.2% |
| Current investments | 50/53 | €1,057,104 | €906 | -€1.1m | -99.9% |
| Cash at bank and in hand | 54/58 | €158,753 | €532,506 | +€373,753 | +235% |
| Deferred charges and accrued income | 490/1 | €43,302 | €22,339 | -€20,963 | -48.4% |
| Total equity and liabilities | 10/49 | €1,640,867 | €965,738 | -€675,129 | -41.1% |
| Equity | 10/15 | €1,192,276 | €575,653 | -€616,623 | -51.7% |
| Reserves | 13 | €597,114 | €497,637 | -€99,477 | -16.7% |
| Profit (loss) carried forward | 14 | €595,162 | €78,016 | -€517,146 | -86.9% |
| Amounts payable | 17/49 | €448,591 | €390,085 | -€58,506 | -13.0% |
| Amounts payable after more than one year | 17 | - | €156,696 | +€156,696 | |
| Financial debts | 170/4 | - | €156,696 | +€156,696 | |
| Amounts payable within one year | 42/48 | €447,887 | €230,193 | -€217,694 | -48.6% |
| Current portion of amounts payable after more than one year | 42 | - | €37,236 | +€37,236 | |
| Trade debts | 44 | €139,470 | €60,967 | -€78,504 | -56.3% |
| Suppliers | 440/4 | €139,470 | €60,967 | -€78,504 | -56.3% |
| Taxes, remuneration and social security | 45 | €308,417 | €131,991 | -€176,426 | -57.2% |
| Taxes | 450/3 | €76,157 | €25,610 | -€50,547 | -66.4% |
| Remuneration and social security | 454/9 | €232,260 | €106,381 | -€125,878 | -54.2% |
| Accrued charges and deferred income | 492/3 | €704 | €3,196 | +€2,492 | +354% |
| Remuneration, social security and pensions | 62 | €1,333,342 | €1,437,862 | +€104,521 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,342 | €52,554 | +€30,212 | +135% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,893 | €6,618 | +€12,510 | |
| Other operating charges | 640/8 | €64,123 | €78,646 | +€14,523 | +22.6% |
| Non-recurring operating charges | 66A | €5,648 | €205,829 | +€200,181 | +3,545% |
| Gross operating margin | 9900 | €1,341,802 | €1,181,175 | -€160,626 | -12.0% |
| Operating profit (loss) | 9901 | -€77,760 | -€600,334 | -€522,574 | -672% |
| Financial income | 75/76B | €11,442 | €5,242 | -€6,200 | -54.2% |
| Recurring financial income | 75 | €11,442 | €5,242 | -€6,200 | -54.2% |
| Financial charges | 65/66B | €12,372 | €17,918 | +€5,546 | +44.8% |
| Recurring financial charges | 65 | €12,372 | €17,918 | +€5,546 | +44.8% |
| Profit (loss) for the period before taxes | 9903 | -€78,690 | -€613,011 | -€534,321 | -679% |
| Income taxes | 67/77 | €5,142 | €3,612 | -€1,530 | -29.8% |
| Profit (loss) for the period | 9904 | -€83,832 | -€616,623 | -€532,791 | -636% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,832 | -€616,623 | -€532,791 | -636% |
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 21 October 2026 via checked.be.