P.E.G.A.: what changed
Two fiscal 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.
P.E.G.A.
Largest movements
- Receivables within one year -€5,882
down €5,882 (-46.4%), from €12,664 to €6,782
of which Trade receivables: -€6,927
- Stocks and contracts +€5,120
up €5,120 (+109.4%), from €4,681 to €9,801
- Cash -€4,969
down €4,969 (-19.8%), from €25,130 to €20,161
mainly Stocks and contracts (-€5,120) and Net result for the year (-€4,839)
- Tangible fixed assets -€4,127
down €4,127 (-42.3%), from €9,748 to €5,621
- Profit (loss) carried forward -€5,676
down €5,676 (-24.2%), from €23,440 to €17,764
- Advances received -€3,500
down €3,500 (-100.0%), from €3,500 to €0
- Trade debts -€917
down €917 (-26.7%), from €3,435 to €2,518
- Gross operating margin -€6,836
down €6,836 (-74.6%), from €9,163 to €2,327
- Depreciation +€300
up €300 (+6.2%), from €4,872 to €5,172
- Taxes -€194
down €194 (-31.5%), from €618 to €423
- Financial charges -€131
down €131 (-16.9%), from €777 to €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.
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 | €54,620 | €44,554 | -€10,067 | -18.4% |
| Fixed assets | 21/28 | €9,748 | €5,621 | -€4,127 | -42.3% |
| Tangible fixed assets | 22/27 | €9,748 | €5,621 | -€4,127 | -42.3% |
| Plant, machinery and equipment | 23 | €1,394 | €1,065 | -€329 | -23.6% |
| Furniture and vehicles | 24 | €4,831 | €2,794 | -€2,037 | -42.2% |
| Other tangible fixed assets | 26 | €3,524 | €1,762 | -€1,762 | -50.0% |
| Current assets | 29/58 | €44,872 | €38,933 | -€5,940 | -13.2% |
| Stocks and contracts in progress | 3 | €4,681 | €9,801 | +€5,120 | +109.4% |
| Stocks | 30/36 | €4,681 | €9,801 | +€5,120 | +109.4% |
| Amounts receivable within one year | 40/41 | €12,664 | €6,782 | -€5,882 | -46.4% |
| Trade receivables | 40 | €7,932 | €1,005 | -€6,927 | -87.3% |
| Other amounts receivable | 41 | €4,732 | €5,778 | +€1,045 | +22.1% |
| Cash at bank and in hand | 54/58 | €25,130 | €20,161 | -€4,969 | -19.8% |
| Deferred charges and accrued income | 490/1 | €2,397 | €2,188 | -€209 | -8.7% |
| Total equity and liabilities | 10/49 | €54,620 | €44,554 | -€10,067 | -18.4% |
| Equity | 10/15 | €45,844 | €40,168 | -€5,676 | -12.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Outside capital | 11 | €18,550 | €18,550 | = | 0.0% |
| Other | 1109/19 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €3,854 | €3,854 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,999 | €1,999 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,440 | €17,764 | -€5,676 | -24.2% |
| Amounts payable | 17/49 | €8,777 | €4,386 | -€4,391 | -50.0% |
| Amounts payable within one year | 42/48 | €8,777 | €4,386 | -€4,391 | -50.0% |
| Trade debts | 44 | €3,435 | €2,518 | -€917 | -26.7% |
| Suppliers | 440/4 | €3,435 | €2,518 | -€917 | -26.7% |
| Advances received on contracts in progress | 46 | €3,500 | €0 | -€3,500 | -100.0% |
| Taxes, remuneration and social security | 45 | €979 | €1,031 | +€52 | +5.4% |
| Taxes | 450/3 | €979 | €1,031 | +€52 | +5.4% |
| Other amounts payable | 47/48 | €863 | €837 | -€26 | -3.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,872 | €5,172 | +€300 | +6.2% |
| Other operating charges | 640/8 | €1,193 | €1,167 | -€26 | -2.2% |
| Gross operating margin | 9900 | €9,163 | €2,327 | -€6,836 | -74.6% |
| Operating profit (loss) | 9901 | €3,098 | -€4,012 | -€7,110 | |
| Financial income | 75/76B | €296 | €242 | -€54 | -18.1% |
| Recurring financial income | 75 | €296 | €242 | -€54 | -18.1% |
| Financial charges | 65/66B | €777 | €646 | -€131 | -16.9% |
| Recurring financial charges | 65 | €777 | €646 | -€131 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €2,617 | -€4,416 | -€7,032 | |
| Income taxes | 67/77 | €618 | €423 | -€194 | -31.5% |
| Profit (loss) for the period | 9904 | €1,999 | -€4,839 | -€6,838 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,999 | -€4,839 | -€6,838 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.