Vitor Pina: 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.
Vitor Pina
Largest movements
- Receivables after one year -€50,048
no longer reported in 2025 (was €50,048)
- Tangible fixed assets +€36,709
new in 2025: €36,709
- Current investments +€15,271
up €15,271 (+42.1%), from €36,250 to €51,521
- Receivables within one year +€10,577
up €10,577 (+20.9%), from €50,696 to €61,273
of which Other amounts receivable: +€46,037
- Profit (loss) carried forward -€85,000
down €85,000 (-71.0%), from €119,784 to €34,784
- Other debts +€53,105
new in 2025: €53,105
- Debts after one year +€32,723
new in 2025: €32,723
- Current portion of long-term debt +€8,268
new in 2025: €8,268
- Tax, wage and social debts +€4,053
up €4,053 (+22.5%), from €17,985 to €22,039
of which Taxes: +€4,053
- Gross operating margin -€16,072
down €16,072 (-18.0%), from €89,459 to €73,387
- Depreciation +€4,066
new in 2025: €4,066
- Taxes -€3,317
down €3,317 (-17.6%), from €18,875 to €15,558
- Financial income +€994
up €994 (+91.1%), from €1,091 to €2,085
- Financial charges +€965
up €965 (+130%), from €743 to €1,708
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 | €138,020 | €151,218 | +€13,198 | +9.6% |
| Fixed assets | 21/28 | - | €36,709 | +€36,709 | |
| Tangible fixed assets | 22/27 | - | €36,709 | +€36,709 | |
| Furniture and vehicles | 24 | - | €36,709 | +€36,709 | |
| Current assets | 29/58 | €138,020 | €114,509 | -€23,511 | -17.0% |
| Amounts receivable after more than one year | 29 | €50,048 | - | -€50,048 | |
| Trade receivables | 290 | €50,048 | - | -€50,048 | |
| Amounts receivable within one year | 40/41 | €50,696 | €61,273 | +€10,577 | +20.9% |
| Trade receivables | 40 | €50,696 | €15,235 | -€35,461 | -69.9% |
| Other amounts receivable | 41 | - | €46,037 | +€46,037 | |
| Current investments | 50/53 | €36,250 | €51,521 | +€15,271 | +42.1% |
| Cash at bank and in hand | 54/58 | €737 | €93 | -€644 | -87.4% |
| Deferred charges and accrued income | 490/1 | €290 | €1,623 | +€1,334 | +460% |
| Total equity and liabilities | 10/49 | €138,020 | €151,218 | +€13,198 | +9.6% |
| Equity | 10/15 | €119,884 | €34,884 | -€85,000 | -70.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,784 | €34,784 | -€85,000 | -71.0% |
| Amounts payable | 17/49 | €18,136 | €116,334 | +€98,198 | +541% |
| Amounts payable after more than one year | 17 | - | €32,723 | +€32,723 | |
| Financial debts | 170/4 | - | €32,723 | +€32,723 | |
| Amounts payable within one year | 42/48 | €18,136 | €83,611 | +€65,475 | +361% |
| Current portion of amounts payable after more than one year | 42 | - | €8,268 | +€8,268 | |
| Trade debts | 44 | €150 | €199 | +€49 | +32.3% |
| Suppliers | 440/4 | €150 | €199 | +€49 | +32.3% |
| Taxes, remuneration and social security | 45 | €17,985 | €22,039 | +€4,053 | +22.5% |
| Taxes | 450/3 | €14,985 | €19,039 | +€4,053 | +27.0% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | - | €53,105 | +€53,105 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €4,066 | +€4,066 | |
| Other operating charges | 640/8 | €537 | €825 | +€287 | +53.4% |
| Non-recurring operating charges | 66A | - | €210 | +€210 | |
| Gross operating margin | 9900 | €89,459 | €73,387 | -€16,072 | -18.0% |
| Operating profit (loss) | 9901 | €88,921 | €68,285 | -€20,636 | -23.2% |
| Financial income | 75/76B | €1,091 | €2,085 | +€994 | +91.1% |
| Recurring financial income | 75 | €1,091 | €2,085 | +€994 | +91.1% |
| Financial charges | 65/66B | €743 | €1,708 | +€965 | +130% |
| Recurring financial charges | 65 | €743 | €1,708 | +€965 | +130% |
| Profit (loss) for the period before taxes | 9903 | €89,270 | €68,663 | -€20,607 | -23.1% |
| Income taxes | 67/77 | €18,875 | €15,558 | -€3,317 | -17.6% |
| Profit (loss) for the period | 9904 | €70,395 | €53,105 | -€17,290 | -24.6% |
| Profit (loss) for the period to be appropriated | 9905 | €70,395 | €53,105 | -€17,290 | -24.6% |
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 20 October 2026 via checked.be.