PEGASE BUSINESS DEVELOPMENT: 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.
PEGASE BUSINESS DEVELOPMENT
Largest movements
- Cash -€13,529
down €13,529 (-33.8%), from €40,040 to €26,511
mainly Net result for the year (-€6,253) and Receivables within one year (-€3,652)
- Receivables within one year +€3,652
up €3,652 (+4.2%), from €86,333 to €89,985
of which Other amounts receivable: +€19,798
- Profit (loss) carried forward -€6,253
down €6,253 (-15.1%), from €41,339 to €35,086
- Tax, wage and social debts -€3,127
down €3,127 (-19.6%), from €15,990 to €12,863
- Write-downs +€30,272
new in 2025: €30,272
- Gross operating margin -€10,000
down €10,000 (-29.9%), from €33,443 to €23,443
- Taxes -€8,853
down €8,853 (-92.7%), from €9,550 to €696
- Financial income +€1,251
up €1,251 (+189%), from €660 to €1,912
- Other operating charges -€385
down €385 (-93.9%), from €410 to €25
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 | €151,483 | €142,177 | -€9,307 | -6.1% |
| Fixed assets | 21/28 | €25,111 | €25,681 | +€570 | +2.3% |
| Tangible fixed assets | 22/27 | €10,111 | €10,681 | +€570 | +5.6% |
| Land and buildings | 22 | €9,387 | €9,780 | +€392 | +4.2% |
| Furniture and vehicles | 24 | €723 | €901 | +€178 | +24.6% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €126,373 | €116,496 | -€9,877 | -7.8% |
| Amounts receivable within one year | 40/41 | €86,333 | €89,985 | +€3,652 | +4.2% |
| Trade receivables | 40 | €43,424 | €27,279 | -€16,146 | -37.2% |
| Other amounts receivable | 41 | €42,909 | €62,706 | +€19,798 | +46.1% |
| Cash at bank and in hand | 54/58 | €40,040 | €26,511 | -€13,529 | -33.8% |
| Total equity and liabilities | 10/49 | €151,483 | €142,177 | -€9,307 | -6.1% |
| Equity | 10/15 | €134,990 | €128,737 | -€6,253 | -4.6% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €71,651 | €71,651 | = | 0.0% |
| Distributable reserves | 133 | €71,651 | €71,651 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,339 | €35,086 | -€6,253 | -15.1% |
| Amounts payable | 17/49 | €16,493 | €13,440 | -€3,053 | -18.5% |
| Amounts payable within one year | 42/48 | €16,460 | €13,377 | -€3,083 | -18.7% |
| Trade debts | 44 | €470 | €513 | +€43 | +9.2% |
| Suppliers | 440/4 | €470 | €513 | +€43 | +9.2% |
| Taxes, remuneration and social security | 45 | €15,990 | €12,863 | -€3,127 | -19.6% |
| Taxes | 450/3 | €15,990 | €12,863 | -€3,127 | -19.6% |
| Accrued charges and deferred income | 492/3 | €33 | €63 | +€30 | +92.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €794 | €476 | -€318 | -40.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €30,272 | +€30,272 | |
| Other operating charges | 640/8 | €410 | €25 | -€385 | -93.9% |
| Gross operating margin | 9900 | €33,443 | €23,443 | -€10,000 | -29.9% |
| Operating profit (loss) | 9901 | €32,238 | -€7,330 | -€39,568 | |
| Financial income | 75/76B | €660 | €1,912 | +€1,251 | +189% |
| Recurring financial income | 75 | €660 | €1,912 | +€1,251 | +189% |
| Financial charges | 65/66B | €147 | €139 | -€8 | -5.5% |
| Recurring financial charges | 65 | €147 | €139 | -€8 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €32,752 | -€5,557 | -€38,309 | |
| Income taxes | 67/77 | €9,550 | €696 | -€8,853 | -92.7% |
| Profit (loss) for the period | 9904 | €23,202 | -€6,253 | -€29,456 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,202 | -€6,253 | -€29,456 |
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 27 October 2026 via checked.be.