Thomas Pinna: 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.
Thomas Pinna
Largest movements
- Receivables within one year +€27,597
up €27,597 (+218.7%), from €12,616 to €40,213
of which Trade receivables: +€27,427
- Tangible fixed assets -€7,381
down €7,381 (-17.4%), from €42,308 to €34,927
of which Furniture and vehicles: -€6,678
- Cash -€2,710
down €2,710 (-3.5%), from €76,872 to €74,162
mainly Contributions, distributions and other (-€88,000) and Receivables within one year (-€27,597)
- Other debts +€74,300
up €74,300 (+184.7%), from €40,234 to €114,534
- Reserves -€71,397
down €71,397 (-80.8%), from €88,332 to €16,935
- Tax, wage and social debts +€15,275
up €15,275 (+1554.4%), from €983 to €16,258
- Depreciation +€5,984
up €5,984 (+171.8%), from €3,483 to €9,468
- Taxes -€1,400
down €1,400 (-23.6%), from €5,941 to €4,540
- Gross operating margin -€686
down €686 (-1.9%), from €35,748 to €35,061
- Financial charges +€654
up €654 (+21.2%), from €3,081 to €3,735
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 | €133,041 | €150,602 | +€17,561 | +13.2% |
| Fixed assets | 21/28 | €42,308 | €34,927 | -€7,381 | -17.4% |
| Tangible fixed assets | 22/27 | €42,308 | €34,927 | -€7,381 | -17.4% |
| Furniture and vehicles | 24 | €39,298 | €32,620 | -€6,678 | -17.0% |
| Other tangible fixed assets | 26 | €3,010 | €2,307 | -€703 | -23.3% |
| Current assets | 29/58 | €90,734 | €115,676 | +€24,942 | +27.5% |
| Amounts receivable within one year | 40/41 | €12,616 | €40,213 | +€27,597 | +218.7% |
| Trade receivables | 40 | €9,257 | €36,684 | +€27,427 | +296.3% |
| Other amounts receivable | 41 | €3,359 | €3,529 | +€170 | +5.0% |
| Cash at bank and in hand | 54/58 | €76,872 | €74,162 | -€2,710 | -3.5% |
| Deferred charges and accrued income | 490/1 | €1,246 | €1,301 | +€56 | +4.5% |
| Total equity and liabilities | 10/49 | €133,041 | €150,602 | +€17,561 | +13.2% |
| Equity | 10/15 | €90,332 | €18,935 | -€71,397 | -79.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €88,332 | €16,935 | -€71,397 | -80.8% |
| Distributable reserves | 133 | €88,332 | €16,935 | -€71,397 | -80.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €42,710 | €131,668 | +€88,958 | +208.3% |
| Amounts payable within one year | 42/48 | €42,710 | €131,668 | +€88,958 | +208.3% |
| Trade debts | 44 | €1,493 | €876 | -€617 | -41.3% |
| Suppliers | 440/4 | €1,493 | €876 | -€617 | -41.3% |
| Taxes, remuneration and social security | 45 | €983 | €16,258 | +€15,275 | +1554.4% |
| Taxes | 450/3 | €983 | €16,258 | +€15,275 | +1554.4% |
| Other amounts payable | 47/48 | €40,234 | €114,534 | +€74,300 | +184.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,483 | €9,468 | +€5,984 | +171.8% |
| Other operating charges | 640/8 | €569 | €716 | +€146 | +25.7% |
| Gross operating margin | 9900 | €35,748 | €35,061 | -€686 | -1.9% |
| Operating profit (loss) | 9901 | €31,695 | €24,878 | -€6,817 | -21.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,081 | €3,735 | +€654 | +21.2% |
| Recurring financial charges | 65 | €3,081 | €3,735 | +€654 | +21.2% |
| Profit (loss) for the period before taxes | 9903 | €28,614 | €21,143 | -€7,471 | -26.1% |
| Income taxes | 67/77 | €5,941 | €4,540 | -€1,400 | -23.6% |
| Profit (loss) for the period | 9904 | €22,674 | €16,603 | -€6,071 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,674 | €16,603 | -€6,071 | -26.8% |
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 12 October 2026 via checked.be.