PEGAMO III: 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.
PEGAMO III
Largest movements
- Current investments +€425,000
up €425,000 (+12.0%), from €3.5m to €4.0m
- Tangible fixed assets -€401,563
down €401,563 (-3.5%), from €11.5m to €11.1m
- Deferred charges and accrued income +€253,781
up €253,781 (+36.9%), from €687,777 to €941,558
- Other debts +€669,797
up €669,797 (+124%), from €539,791 to €1.2m
- Provisions -€266,978
down €266,978 (-100%), from €266,978 to €0
- Gross operating margin +€583,274
up €583,274 (+30.7%), from €1.9m to €2.5m
- Provisions -€266,978
down €266,978, from €0 to -€266,978
- Depreciation +€94,286
up €94,286 (+8.4%), from €1.1m to €1.2m
- Financial income -€47,811
down €47,811 (-44.0%), from €108,723 to €60,911
- Taxes +€31,691
up €31,691 (+29.2%), from €108,591 to €140,282
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 | €16,605,478 | €16,978,847 | +€373,370 | +2.2% |
| Fixed assets | 21/28 | €11,621,247 | €11,219,683 | -€401,563 | -3.5% |
| Tangible fixed assets | 22/27 | €11,543,036 | €11,141,473 | -€401,563 | -3.5% |
| Land and buildings | 22 | €11,543,036 | €11,141,473 | -€401,563 | -3.5% |
| Financial fixed assets | 28 | €78,210 | €78,210 | = | 0.0% |
| Current assets | 29/58 | €4,984,231 | €5,759,164 | +€774,933 | +15.5% |
| Amounts receivable within one year | 40/41 | €338,834 | €468,454 | +€129,619 | +38.3% |
| Trade receivables | 40 | €338,834 | €450,335 | +€111,500 | +32.9% |
| Other amounts receivable | 41 | - | €18,119 | +€18,119 | |
| Current investments | 50/53 | €3,530,000 | €3,955,000 | +€425,000 | +12.0% |
| Cash at bank and in hand | 54/58 | €427,620 | €394,152 | -€33,467 | -7.8% |
| Deferred charges and accrued income | 490/1 | €687,777 | €941,558 | +€253,781 | +36.9% |
| Total equity and liabilities | 10/49 | €16,605,478 | €16,978,847 | +€373,370 | +2.2% |
| Equity | 10/15 | €14,906,453 | €14,906,453 | = | 0.0% |
| Contributions | 10/11 | €14,826,151 | €14,826,151 | = | 0.0% |
| Reserves | 13 | €80,302 | €80,302 | = | 0.0% |
| Tax-exempt reserves | 132 | €80,302 | €80,302 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €266,978 | €0 | -€266,978 | -100% |
| Provisions for liabilities and charges | 160/5 | €266,978 | €0 | -€266,978 | -100% |
| Major repairs and maintenance | 162 | €266,978 | €0 | -€266,978 | -100% |
| Amounts payable | 17/49 | €1,432,047 | €2,072,394 | +€640,348 | +44.7% |
| Amounts payable within one year | 42/48 | €615,911 | €1,333,433 | +€717,522 | +116% |
| Trade debts | 44 | €53,411 | €92,163 | +€38,752 | +72.6% |
| Suppliers | 440/4 | €53,411 | €92,163 | +€38,752 | +72.6% |
| Taxes, remuneration and social security | 45 | €22,708 | €31,682 | +€8,974 | +39.5% |
| Taxes | 450/3 | €22,708 | €31,682 | +€8,974 | +39.5% |
| Other amounts payable | 47/48 | €539,791 | €1,209,589 | +€669,797 | +124% |
| Accrued charges and deferred income | 492/3 | €816,136 | €738,961 | -€77,175 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,125,061 | €1,219,346 | +€94,286 | +8.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | -€266,978 | -€266,978 | |
| Other operating charges | 640/8 | €233,051 | €240,120 | +€7,069 | +3.0% |
| Gross operating margin | 9900 | €1,898,378 | €2,481,653 | +€583,274 | +30.7% |
| Operating profit (loss) | 9901 | €540,267 | €1,289,165 | +€748,898 | +139% |
| Financial income | 75/76B | €108,723 | €60,911 | -€47,811 | -44.0% |
| Recurring financial income | 75 | €108,723 | €60,911 | -€47,811 | -44.0% |
| Financial charges | 65/66B | €607 | €206 | -€401 | -66.1% |
| Recurring financial charges | 65 | €607 | €206 | -€401 | -66.1% |
| Profit (loss) for the period before taxes | 9903 | €648,382 | €1,349,870 | +€701,488 | +108% |
| Income taxes | 67/77 | €108,591 | €140,282 | +€31,691 | +29.2% |
| Profit (loss) for the period | 9904 | €539,791 | €1,209,589 | +€669,797 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €539,791 | €1,209,589 | +€669,797 | +124% |
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 23 October 2026 via checked.be.