P.G.D. GROUP: what changed
P.G.D. GROUP
Largest movements
- Receivables within one year +€49,398
up €49,398 (+38.6%), from €128,081 to €177,479
of which Other amounts receivable: +€47,743
- Cash +€6,677
up €6,677 (+38.3%), from €17,432 to €24,109
mainly Net result for the year (+€44,345) and Tax, wage and social debts (+€9,609)
- Reserves +€44,000
up €44,000 (+41.5%), from €106,000 to €150,000
- Tax, wage and social debts +€9,609
up €9,609 (+31.1%), from €30,886 to €40,495
- Other debts +€2,671
up €2,671 (+134%), from €2,000 to €4,671
- Financial charges -€3,066
down €3,066 (-89.8%), from €3,414 to €348
- Taxes +€1,291
up €1,291 (+7.8%), from €16,565 to €17,856
- Gross operating margin -€735
down €735 (-1.1%), from €64,660 to €63,925
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €145,754 | €203,178 | +€57,424 | +39.4% |
| Fixed assets | 21/28 | - | €1,565 | +€1,565 | |
| Tangible fixed assets | 22/27 | - | €1,565 | +€1,565 | |
| Plant, machinery and equipment | 23 | - | €1,565 | +€1,565 | |
| Current assets | 29/58 | €145,754 | €201,613 | +€55,859 | +38.3% |
| Amounts receivable within one year | 40/41 | €128,081 | €177,479 | +€49,398 | +38.6% |
| Trade receivables | 40 | €9,789 | €11,444 | +€1,655 | +16.9% |
| Other amounts receivable | 41 | €118,292 | €166,035 | +€47,743 | +40.4% |
| Cash at bank and in hand | 54/58 | €17,432 | €24,109 | +€6,677 | +38.3% |
| Deferred charges and accrued income | 490/1 | €241 | €25 | -€216 | -89.6% |
| Total equity and liabilities | 10/49 | €145,754 | €203,178 | +€57,424 | +39.4% |
| Equity | 10/15 | €111,333 | €155,678 | +€44,345 | +39.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €106,000 | €150,000 | +€44,000 | +41.5% |
| Distributable reserves | 133 | €106,000 | €150,000 | +€44,000 | +41.5% |
| Profit (loss) carried forward | 14 | €333 | €678 | +€345 | +104% |
| Amounts payable | 17/49 | €34,421 | €47,500 | +€13,079 | +38.0% |
| Amounts payable within one year | 42/48 | €34,421 | €47,500 | +€13,079 | +38.0% |
| Trade debts | 44 | €1,535 | €2,334 | +€799 | +52.1% |
| Suppliers | 440/4 | €1,535 | €2,334 | +€799 | +52.1% |
| Taxes, remuneration and social security | 45 | €30,886 | €40,495 | +€9,609 | +31.1% |
| Taxes | 450/3 | €30,886 | €40,495 | +€9,609 | +31.1% |
| Other amounts payable | 47/48 | €2,000 | €4,671 | +€2,671 | +134% |
| Non-recurring operating income | 76A | - | €2,840 | +€2,840 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €314 | +€314 | |
| Other operating charges | 640/8 | €1,569 | €1,062 | -€507 | -32.3% |
| Gross operating margin | 9900 | €64,660 | €63,925 | -€735 | -1.1% |
| Operating profit (loss) | 9901 | €63,091 | €62,549 | -€542 | -0.9% |
| Financial charges | 65/66B | €3,414 | €348 | -€3,066 | -89.8% |
| Recurring financial charges | 65 | €3,414 | €348 | -€3,066 | -89.8% |
| Profit (loss) for the period before taxes | 9903 | €59,677 | €62,201 | +€2,524 | +4.2% |
| Income taxes | 67/77 | €16,565 | €17,856 | +€1,291 | +7.8% |
| Profit (loss) for the period | 9904 | €43,112 | €44,345 | +€1,233 | +2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €43,112 | €44,345 | +€1,233 | +2.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.