PAGOD: 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.
PAGOD
Largest movements
- Tangible fixed assets +€47,299
up €47,299 (+11.5%), from €410,172 to €457,471
of which Land and buildings: +€32,184
- Receivables within one year +€22,743
up €22,743 (+7.4%), from €308,923 to €331,666
of which Trade receivables: +€80,005
- Trade debts +€67,516
up €67,516 (+1211.6%), from €5,573 to €73,089
- Debts after one year -€30,299
down €30,299 (-12.0%), from €252,546 to €222,247
of which Financial debts: -€30,499
- Other debts +€28,569
up €28,569 (+32.1%), from €89,063 to €117,632
- Profit (loss) carried forward +€11,725
up €11,725 (+8.2%), from €143,734 to €155,459
- Taxes -€33,021
down €33,021 (-88.2%), from €37,452 to €4,430
- Depreciation +€9,693
up €9,693 (+78.3%), from €12,380 to €22,073
- Gross operating margin +€9,437
up €9,437 (+41.7%), from €22,630 to €32,067
- Financial income -€3,821
down €3,821 (-24.0%), from €15,927 to €12,106
- Other operating charges -€674
down €674 (-43.9%), from €1,534 to €860
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €719,949 | €791,157 | +€71,207 | +9.9% |
| Fixed assets | 21/28 | €410,172 | €457,471 | +€47,299 | +11.5% |
| Tangible fixed assets | 22/27 | €410,172 | €457,471 | +€47,299 | +11.5% |
| Land and buildings | 22 | €385,324 | €417,508 | +€32,184 | +8.4% |
| Furniture and vehicles | 24 | €24,848 | €39,963 | +€15,116 | +60.8% |
| Current assets | 29/58 | €309,778 | €333,685 | +€23,908 | +7.7% |
| Amounts receivable within one year | 40/41 | €308,923 | €331,666 | +€22,743 | +7.4% |
| Trade receivables | 40 | €13,201 | €93,207 | +€80,005 | +606.0% |
| Other amounts receivable | 41 | €295,722 | €238,459 | -€57,263 | -19.4% |
| Cash at bank and in hand | 54/58 | €0 | €1,095 | +€1,095 | +475869.6% |
| Deferred charges and accrued income | 490/1 | €854 | €925 | +€70 | +8.2% |
| Total equity and liabilities | 10/49 | €719,949 | €791,157 | +€71,207 | +9.9% |
| Equity | 10/15 | €263,053 | €271,247 | +€8,194 | +3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €100,719 | €97,188 | -€3,531 | -3.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €98,859 | €95,328 | -€3,531 | -3.6% |
| Profit (loss) carried forward | 14 | €143,734 | €155,459 | +€11,725 | +8.2% |
| Provisions and deferred taxes | 16 | €32,953 | €31,776 | -€1,177 | -3.6% |
| Deferred taxes | 168 | €32,953 | €31,776 | -€1,177 | -3.6% |
| Amounts payable | 17/49 | €423,944 | €488,134 | +€64,190 | +15.1% |
| Amounts payable after more than one year | 17 | €252,546 | €222,247 | -€30,299 | -12.0% |
| Financial debts | 170/4 | €252,546 | €222,047 | -€30,499 | -12.1% |
| Other amounts payable | 178/9 | - | €200 | +€200 | |
| Amounts payable within one year | 42/48 | €163,798 | €263,895 | +€100,097 | +61.1% |
| Current portion of amounts payable after more than one year | 42 | €29,703 | €30,499 | +€796 | +2.7% |
| Trade debts | 44 | €5,573 | €73,089 | +€67,516 | +1211.6% |
| Suppliers | 440/4 | €5,573 | €73,089 | +€67,516 | +1211.6% |
| Taxes, remuneration and social security | 45 | €39,459 | €42,674 | +€3,215 | +8.1% |
| Taxes | 450/3 | €39,459 | €42,674 | +€3,215 | +8.1% |
| Other amounts payable | 47/48 | €89,063 | €117,632 | +€28,569 | +32.1% |
| Accrued charges and deferred income | 492/3 | €7,600 | €1,992 | -€5,608 | -73.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,380 | €22,073 | +€9,693 | +78.3% |
| Other operating charges | 640/8 | €1,534 | €860 | -€674 | -43.9% |
| Gross operating margin | 9900 | €22,630 | €32,067 | +€9,437 | +41.7% |
| Operating profit (loss) | 9901 | €8,716 | €9,134 | +€418 | +4.8% |
| Financial income | 75/76B | €15,927 | €12,106 | -€3,821 | -24.0% |
| Recurring financial income | 75 | €15,927 | €12,106 | -€3,821 | -24.0% |
| Financial charges | 65/66B | €10,279 | €9,792 | -€487 | -4.7% |
| Recurring financial charges | 65 | €10,279 | €9,792 | -€487 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €14,364 | €11,448 | -€2,916 | -20.3% |
| Transfer from deferred taxes | 780 | €31,422 | €1,177 | -€30,245 | -96.3% |
| Income taxes | 67/77 | €37,452 | €4,430 | -€33,021 | -88.2% |
| Profit (loss) for the period | 9904 | €8,335 | €8,194 | -€140 | -1.7% |
| Transfer from tax-exempt reserves | 789 | €94,266 | €3,531 | -€90,736 | -96.3% |
| Profit (loss) for the period to be appropriated | 9905 | €102,601 | €11,725 | -€90,876 | -88.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.