PEGASE MANAGEMENT SERVICES: 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.
PEGASE MANAGEMENT SERVICES
Largest movements
- Cash +€45,659
up €45,659 (+106.1%), from €43,016 to €88,675
mainly Net result for the year (+€15,175) and Depreciation (+€13,833)
- Receivables within one year -€9,634
down €9,634 (-10.7%), from €89,930 to €80,297
of which Trade receivables: -€5,433
- Tangible fixed assets -€8,712
down €8,712 (-2.9%), from €303,374 to €294,662
of which Land and buildings: -€12,333
- Profit (loss) carried forward +€15,175
up €15,175 (+8.4%), from €180,674 to €195,848
- Tax, wage and social debts +€12,071
up €12,071 (+60.6%), from €19,927 to €31,998
- Gross operating margin -€79,260
down €79,260 (-62.0%), from €127,815 to €48,555
- Taxes -€20,176
down €20,176 (-54.3%), from €37,186 to €17,009
- Depreciation +€1,930
up €1,930 (+16.2%), from €11,903 to €13,833
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 | €436,321 | €463,634 | +€27,313 | +6.3% |
| Fixed assets | 21/28 | €303,374 | €294,662 | -€8,712 | -2.9% |
| Tangible fixed assets | 22/27 | €303,374 | €294,662 | -€8,712 | -2.9% |
| Land and buildings | 22 | €289,127 | €276,794 | -€12,333 | -4.3% |
| Furniture and vehicles | 24 | €14,247 | €17,868 | +€3,621 | +25.4% |
| Current assets | 29/58 | €132,946 | €168,972 | +€36,025 | +27.1% |
| Amounts receivable within one year | 40/41 | €89,930 | €80,297 | -€9,634 | -10.7% |
| Trade receivables | 40 | €19,227 | €13,794 | -€5,433 | -28.3% |
| Other amounts receivable | 41 | €70,704 | €66,503 | -€4,201 | -5.9% |
| Cash at bank and in hand | 54/58 | €43,016 | €88,675 | +€45,659 | +106.1% |
| Total equity and liabilities | 10/49 | €436,321 | €463,634 | +€27,313 | +6.3% |
| Equity | 10/15 | €392,562 | €407,737 | +€15,175 | +3.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €193,296 | €193,296 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,148 | €2,148 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,148 | €2,148 | = | 0.0% |
| Tax-exempt reserves | 132 | €48,236 | €48,236 | = | 0.0% |
| Distributable reserves | 133 | €142,912 | €142,912 | = | 0.0% |
| Profit (loss) carried forward | 14 | €180,674 | €195,848 | +€15,175 | +8.4% |
| Provisions and deferred taxes | 16 | €23,083 | €23,083 | = | 0.0% |
| Deferred taxes | 168 | €23,083 | €23,083 | = | 0.0% |
| Amounts payable | 17/49 | €20,676 | €32,815 | +€12,138 | +58.7% |
| Amounts payable within one year | 42/48 | €20,676 | €32,815 | +€12,138 | +58.7% |
| Trade debts | 44 | €166 | €234 | +€67 | +40.4% |
| Suppliers | 440/4 | €166 | €234 | +€67 | +40.4% |
| Taxes, remuneration and social security | 45 | €19,927 | €31,998 | +€12,071 | +60.6% |
| Taxes | 450/3 | €19,927 | €31,998 | +€12,071 | +60.6% |
| Other amounts payable | 47/48 | €583 | €583 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,903 | €13,833 | +€1,930 | +16.2% |
| Other operating charges | 640/8 | €1,964 | €2,288 | +€324 | +16.5% |
| Gross operating margin | 9900 | €127,815 | €48,555 | -€79,260 | -62.0% |
| Operating profit (loss) | 9901 | €113,947 | €32,433 | -€81,514 | -71.5% |
| Financial income | 75/76B | €65 | €318 | +€253 | +390.4% |
| Recurring financial income | 75 | €65 | €318 | +€253 | +390.4% |
| Financial charges | 65/66B | €503 | €566 | +€63 | +12.6% |
| Recurring financial charges | 65 | €503 | €566 | +€63 | +12.6% |
| Profit (loss) for the period before taxes | 9903 | €113,509 | €32,184 | -€81,325 | -71.6% |
| Transfer from deferred taxes | 780 | €3,248 | - | -€3,248 | |
| Income taxes | 67/77 | €37,186 | €17,009 | -€20,176 | -54.3% |
| Profit (loss) for the period | 9904 | €79,571 | €15,175 | -€64,396 | -80.9% |
| Transfer from tax-exempt reserves | 789 | €6,307 | - | -€6,307 | |
| Profit (loss) for the period to be appropriated | 9905 | €85,878 | €15,175 | -€70,703 | -82.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.