P.G. EN CO: 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.
P.G. EN CO
Largest movements
- Receivables within one year -€25,958
down €25,958 (-40.6%), from €63,952 to €37,995
- Tangible fixed assets +€15,453
up €15,453 (+2.0%), from €762,898 to €778,350
of which Land and buildings: +€15,737
- Reserves -€24,772
down €24,772 (-10.2%), from €243,056 to €218,284
of which Distributable reserves: -€15,303
- Other debts +€18,736
up €18,736 (+49.4%), from €37,904 to €56,639
- Short-term financial debts -€14,333
down €14,333 (-33.3%), from €43,004 to €28,671
- Trade debts +€11,038
up €11,038 (+200%), from €5,511 to €16,549
- Accrued charges and deferred income +€9,000
new in 2025: €9,000
- Gross operating margin -€6,148
down €6,148 (-33.2%), from €18,532 to €12,384
- Financial charges -€2,687
down €2,687 (-43.1%), from €6,227 to €3,540
- Other operating charges -€1,917
down €1,917 (-17.3%), from €11,069 to €9,152
- Taxes +€856
up €856 (+36.5%), from €2,344 to €3,200
- Depreciation -€345
down €345 (-1.4%), from €24,765 to €24,420
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 | €827,928 | €820,441 | -€7,487 | -0.9% |
| Fixed assets | 21/28 | €762,898 | €778,350 | +€15,453 | +2.0% |
| Tangible fixed assets | 22/27 | €762,898 | €778,350 | +€15,453 | +2.0% |
| Land and buildings | 22 | €762,071 | €777,808 | +€15,737 | +2.1% |
| Furniture and vehicles | 24 | €826 | €542 | -€284 | -34.4% |
| Current assets | 29/58 | €65,031 | €42,091 | -€22,940 | -35.3% |
| Amounts receivable within one year | 40/41 | €63,952 | €37,995 | -€25,958 | -40.6% |
| Other amounts receivable | 41 | €63,952 | €37,995 | -€25,958 | -40.6% |
| Cash at bank and in hand | 54/58 | €539 | €3,536 | +€2,996 | +555% |
| Deferred charges and accrued income | 490/1 | €539 | €561 | +€22 | +4.1% |
| Total equity and liabilities | 10/49 | €827,928 | €820,441 | -€7,487 | -0.9% |
| Equity | 10/15 | €668,194 | €643,421 | -€24,772 | -3.7% |
| Contributions | 10/11 | €425,137 | €425,137 | = | 0.0% |
| Reserves | 13 | €243,056 | €218,284 | -€24,772 | -10.2% |
| Tax-exempt reserves | 132 | €103,536 | €94,066 | -€9,470 | -9.1% |
| Distributable reserves | 133 | €139,521 | €124,218 | -€15,303 | -11.0% |
| Provisions and deferred taxes | 16 | €34,512 | €31,355 | -€3,157 | -9.1% |
| Deferred taxes | 168 | €34,512 | €31,355 | -€3,157 | -9.1% |
| Amounts payable | 17/49 | €125,223 | €145,665 | +€20,442 | +16.3% |
| Amounts payable after more than one year | 17 | €29,261 | €21,741 | -€7,521 | -25.7% |
| Financial debts | 170/4 | €29,261 | €21,741 | -€7,521 | -25.7% |
| Amounts payable within one year | 42/48 | €95,961 | €114,924 | +€18,963 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €7,199 | €7,521 | +€322 | +4.5% |
| Financial debts | 43 | €43,004 | €28,671 | -€14,333 | -33.3% |
| Credit institutions | 430/8 | €43,004 | €28,671 | -€14,333 | -33.3% |
| Trade debts | 44 | €5,511 | €16,549 | +€11,038 | +200% |
| Suppliers | 440/4 | €5,511 | €16,549 | +€11,038 | +200% |
| Taxes, remuneration and social security | 45 | €2,344 | €5,544 | +€3,200 | +137% |
| Taxes | 450/3 | €2,344 | €5,544 | +€3,200 | +137% |
| Other amounts payable | 47/48 | €37,904 | €56,639 | +€18,736 | +49.4% |
| Accrued charges and deferred income | 492/3 | - | €9,000 | +€9,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,765 | €24,420 | -€345 | -1.4% |
| Other operating charges | 640/8 | €11,069 | €9,152 | -€1,917 | -17.3% |
| Gross operating margin | 9900 | €18,532 | €12,384 | -€6,148 | -33.2% |
| Operating profit (loss) | 9901 | -€17,303 | -€21,189 | -€3,886 | -22.5% |
| Financial charges | 65/66B | €6,227 | €3,540 | -€2,687 | -43.1% |
| Recurring financial charges | 65 | €6,227 | €3,540 | -€2,687 | -43.1% |
| Profit (loss) for the period before taxes | 9903 | -€23,529 | -€24,729 | -€1,199 | -5.1% |
| Transfer from deferred taxes | 780 | €3,167 | €3,157 | -€10 | -0.3% |
| Income taxes | 67/77 | €2,344 | €3,200 | +€856 | +36.5% |
| Profit (loss) for the period | 9904 | -€22,707 | -€24,772 | -€2,066 | -9.1% |
| Transfer from tax-exempt reserves | 789 | €9,500 | €9,470 | -€30 | -0.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,207 | -€15,303 | -€2,095 | -15.9% |
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 30 October 2026 via checked.be.