P&GO: 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&GO
Largest movements
- Receivables within one year -€64,793
down €64,793 (-49.6%), from €130,571 to €65,777
of which Trade receivables: -€70,788
- Cash +€15,337
up €15,337 (+270.3%), from €5,673 to €21,010
mainly Receivables within one year (+€64,793) and Net result for the year (+€4,228)
- Tangible fixed assets -€3,088
down €3,088 (-17.3%), from €17,820 to €14,732
- Trade debts -€50,538
down €50,538 (-46.4%), from €108,970 to €58,432
- Other debts -€6,216
down €6,216 (-29.5%), from €21,068 to €14,852
- Profit (loss) carried forward +€4,228
up €4,228 (+10.1%), from -€41,927 to -€37,699
- Gross operating margin +€52,599
up €52,599, from -€40,292 to €12,307
- Other operating charges +€6,884
up €6,884 (+213.6%), from €3,223 to €10,107
- Financial income -€4,070
down €4,070 (-41.8%), from €9,747 to €5,677
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 | €155,228 | €102,684 | -€52,544 | -33.8% |
| Fixed assets | 21/28 | €17,847 | €14,760 | -€3,088 | -17.3% |
| Tangible fixed assets | 22/27 | €17,820 | €14,732 | -€3,088 | -17.3% |
| Other tangible fixed assets | 26 | €17,820 | €14,732 | -€3,088 | -17.3% |
| Financial fixed assets | 28 | €28 | €28 | = | 0.0% |
| Current assets | 29/58 | €137,381 | €87,925 | -€49,456 | -36.0% |
| Amounts receivable within one year | 40/41 | €130,571 | €65,777 | -€64,793 | -49.6% |
| Trade receivables | 40 | €122,278 | €51,489 | -€70,788 | -57.9% |
| Other amounts receivable | 41 | €8,293 | €14,288 | +€5,995 | +72.3% |
| Cash at bank and in hand | 54/58 | €5,673 | €21,010 | +€15,337 | +270.3% |
| Deferred charges and accrued income | 490/1 | €1,137 | €1,137 | = | 0.0% |
| Total equity and liabilities | 10/49 | €155,228 | €102,684 | -€52,544 | -33.8% |
| Equity | 10/15 | €20,742 | €24,970 | +€4,228 | +20.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €696 | €696 | = | 0.0% |
| Non-distributable reserves | 130/1 | €696 | €696 | = | 0.0% |
| Reserves not available under the articles | 1311 | €696 | €696 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,927 | -€37,699 | +€4,228 | +10.1% |
| Amounts payable | 17/49 | €134,486 | €77,714 | -€56,772 | -42.2% |
| Amounts payable within one year | 42/48 | €134,486 | €77,714 | -€56,772 | -42.2% |
| Trade debts | 44 | €108,970 | €58,432 | -€50,538 | -46.4% |
| Suppliers | 440/4 | €108,970 | €58,432 | -€50,538 | -46.4% |
| Taxes, remuneration and social security | 45 | €4,448 | €4,430 | -€18 | -0.4% |
| Taxes | 450/3 | €4,448 | €4,430 | -€18 | -0.4% |
| Other amounts payable | 47/48 | €21,068 | €14,852 | -€6,216 | -29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,088 | €3,088 | = | 0.0% |
| Other operating charges | 640/8 | €3,223 | €10,107 | +€6,884 | +213.6% |
| Gross operating margin | 9900 | -€40,292 | €12,307 | +€52,599 | |
| Operating profit (loss) | 9901 | -€46,602 | -€887 | +€45,715 | +98.1% |
| Financial income | 75/76B | €9,747 | €5,677 | -€4,070 | -41.8% |
| Recurring financial income | 75 | €9,747 | €5,677 | -€4,070 | -41.8% |
| Financial charges | 65/66B | €92 | €281 | +€189 | +206.3% |
| Recurring financial charges | 65 | €92 | €281 | +€189 | +206.3% |
| Profit (loss) for the period before taxes | 9903 | -€36,947 | €4,509 | +€41,456 | |
| Income taxes | 67/77 | €288 | €281 | -€7 | -2.5% |
| Profit (loss) for the period | 9904 | -€37,235 | €4,228 | +€41,463 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,235 | €4,228 | +€41,463 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.