PARGEFIN: 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.
What changed
PARGEFIN
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€20,124
2024 · €9,097+€11,027
Equity
€4.1m
2024 · €4.1m+€20,124
Cash
€53,153
2024 · €107,224-€54,071
Balance sheet total
€6.5m
2024 · €6.5m+€18,732
Largest movements
Assets
- Current investments +€75,669
up €75,669 (+81.1%), from €93,257 to €168,926
Equity and liabilities
- Debts after one year -€2.4m
no longer reported in 2025 (was €2.4m)
- Current portion of long-term debt +€2.4m
new in 2025: €2.4m
Income statement
- Financial income +€7,538
up €7,538 (+19.0%), from €39,743 to €47,281
- Gross operating margin +€3,426
up €3,426 (+5.0%), from €69,016 to €72,442
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.
Result 2024
€9,097
Gross operating margin
+€3,426
Depreciation
+€82
Other operating charges
+€28
Financial income
+€7,538
Financial charges
+€71
Taxes
-€118
Result 2025
€20,124
raises the resultlowers the result
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.
From operations
+€21,599
Investment
-€75,669
Financing
€0
Cash 2024
€107,224
From operations (derived)
+€21,599
Net result for the year
+€20,124
Depreciation
+€3,389
Smaller working-capital items
-€1,915
Investment (derived)
-€75,669
Current investments
-€75,669
Financing
€0
Debts after one year
-€2.4m
Current portion of long-term debt
+€2.4m
Cash 2025
€53,153
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,494,973 | €6,513,706 | +€18,732 | +0.3% |
| Fixed assets | 21/28 | €5,570,844 | €5,567,454 | -€3,389 | -0.1% |
| Tangible fixed assets | 22/27 | €40,424 | €37,035 | -€3,389 | -8.4% |
| Land and buildings | 22 | €11,187 | €10,957 | -€230 | -2.1% |
| Furniture and vehicles | 24 | €12,237 | €9,078 | -€3,159 | -25.8% |
| Other tangible fixed assets | 26 | €17,000 | €17,000 | = | 0.0% |
| Financial fixed assets | 28 | €5,530,420 | €5,530,420 | = | 0.0% |
| Current assets | 29/58 | €924,130 | €946,251 | +€22,122 | +2.4% |
| Amounts receivable after more than one year | 29 | €720,000 | €720,000 | = | 0.0% |
| Other amounts receivable | 291 | €720,000 | €720,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €59 | €582 | +€523 | +882% |
| Trade receivables | 40 | - | €208 | +€208 | |
| Other amounts receivable | 41 | €59 | €375 | +€315 | +532% |
| Current investments | 50/53 | €93,257 | €168,926 | +€75,669 | +81.1% |
| Cash at bank and in hand | 54/58 | €107,224 | €53,153 | -€54,071 | -50.4% |
| Deferred charges and accrued income | 490/1 | €3,590 | €3,590 | = | 0.0% |
| Total equity and liabilities | 10/49 | €6,494,973 | €6,513,706 | +€18,732 | +0.3% |
| Equity | 10/15 | €4,114,261 | €4,134,385 | +€20,124 | +0.5% |
| Contributions | 10/11 | €1,559,867 | €1,559,867 | = | 0.0% |
| Capital | 10 | €1,559,867 | €1,559,867 | = | 0.0% |
| Issued capital | 100 | €1,559,867 | €1,559,867 | = | 0.0% |
| Reserves | 13 | €2,340,934 | €2,341,941 | +€1,006 | 0.0% |
| Non-distributable reserves | 130/1 | €140,934 | €141,941 | +€1,006 | +0.7% |
| Legal reserve | 130 | €140,934 | €141,941 | +€1,006 | +0.7% |
| Distributable reserves | 133 | €2,200,000 | €2,200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €213,460 | €232,578 | +€19,118 | +9.0% |
| Amounts payable | 17/49 | €2,380,713 | €2,379,321 | -€1,392 | -0.1% |
| Amounts payable after more than one year | 17 | €2,359,867 | - | -€2.4m | |
| Financial debts | 170/4 | €2,359,867 | - | -€2.4m | |
| Amounts payable within one year | 42/48 | €20,846 | €2,379,321 | +€2.4m | +11,314% |
| Current portion of amounts payable after more than one year | 42 | - | €2,359,867 | +€2.4m | |
| Trade debts | 44 | €197 | €242 | +€46 | +23.3% |
| Suppliers | 440/4 | €197 | €242 | +€46 | +23.3% |
| Taxes, remuneration and social security | 45 | €13,667 | €10,541 | -€3,126 | -22.9% |
| Taxes | 450/3 | €13,667 | €10,541 | -€3,126 | -22.9% |
| Other amounts payable | 47/48 | €6,982 | €8,670 | +€1,689 | +24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,471 | €3,389 | -€82 | -2.4% |
| Other operating charges | 640/8 | €1,291 | €1,263 | -€28 | -2.2% |
| Gross operating margin | 9900 | €69,016 | €72,442 | +€3,426 | +5.0% |
| Operating profit (loss) | 9901 | €64,254 | €67,790 | +€3,536 | +5.5% |
| Financial income | 75/76B | €39,743 | €47,281 | +€7,538 | +19.0% |
| Recurring financial income | 75 | €39,743 | €47,281 | +€7,538 | +19.0% |
| Financial charges | 65/66B | €94,767 | €94,696 | -€71 | -0.1% |
| Recurring financial charges | 65 | €94,767 | €94,696 | -€71 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €9,230 | €20,375 | +€11,145 | +121% |
| Income taxes | 67/77 | €133 | €251 | +€118 | +88.8% |
| Profit (loss) for the period | 9904 | €9,097 | €20,124 | +€11,027 | +121% |
| Profit (loss) for the period to be appropriated | 9905 | €9,097 | €20,124 | +€11,027 | +121% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.