PEGASE ORGANISATION: 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 ORGANISATION
Largest movements
- Receivables within one year +€30,918
up €30,918 (+618.4%), from €5,000 to €35,918
- Deferred charges and accrued income +€4,716
up €4,716 (+730.6%), from €645 to €5,361
- Tangible fixed assets -€2,956
down €2,956 (-2.4%), from €125,185 to €122,229
of which Plant, machinery and equipment: -€18,040
- Cash +€2,943
up €2,943 (+2.6%), from €111,840 to €114,783
mainly Net result for the year (+€37,191) and Depreciation (+€18,040)
- Reserves +€85,867
up €85,867 (+368.8%), from €23,283 to €109,150
of which Distributable reserves: +€79,717
- Revaluation surpluses -€82,639
down €82,639 (-59.0%), from €140,000 to €57,361
- Profit (loss) carried forward +€33,963
new in 2025: €33,963
- Accrued charges and deferred income -€5,000
down €5,000 (-33.3%), from €15,000 to €10,000
- Gross operating margin +€19,245
up €19,245 (+41.8%), from €46,056 to €65,301
- Depreciation -€7,472
down €7,472 (-29.3%), from €25,512 to €18,040
- Taxes +€2,406
up €2,406 (+1493.6%), from €161 to €2,567
- Other operating charges +€1,203
up €1,203 (+19.4%), from €6,198 to €7,401
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 | €243,691 | €278,292 | +€34,601 | +14.2% |
| Fixed assets | 21/28 | €126,205 | €122,229 | -€3,976 | -3.2% |
| Tangible fixed assets | 22/27 | €125,185 | €122,229 | -€2,956 | -2.4% |
| Land and buildings | 22 | €65,110 | €80,194 | +€15,084 | +23.2% |
| Plant, machinery and equipment | 23 | €60,075 | €42,035 | -€18,040 | -30.0% |
| Financial fixed assets | 28 | €1,020 | €0 | -€1,020 | -100.0% |
| Current assets | 29/58 | €117,485 | €156,062 | +€38,577 | +32.8% |
| Amounts receivable within one year | 40/41 | €5,000 | €35,918 | +€30,918 | +618.4% |
| Other amounts receivable | 41 | €5,000 | €35,918 | +€30,918 | +618.4% |
| Cash at bank and in hand | 54/58 | €111,840 | €114,783 | +€2,943 | +2.6% |
| Deferred charges and accrued income | 490/1 | €645 | €5,361 | +€4,716 | +730.6% |
| Total equity and liabilities | 10/49 | €243,691 | €278,292 | +€34,601 | +14.2% |
| Equity | 10/15 | €224,783 | €261,974 | +€37,191 | +16.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | - | €61,500 | +€61,500 | |
| Issued capital | 100 | - | €61,500 | +€61,500 | |
| Outside capital | 11 | €61,500 | €0 | -€61,500 | -100.0% |
| Share premium | 1100/10 | €61,500 | €0 | -€61,500 | -100.0% |
| Revaluation surpluses | 12 | €140,000 | €57,361 | -€82,639 | -59.0% |
| Reserves | 13 | €23,283 | €109,150 | +€85,867 | +368.8% |
| Non-distributable reserves | 130/1 | - | €6,150 | +€6,150 | |
| Legal reserve | 130 | - | €6,150 | +€6,150 | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €4,533 | €84,250 | +€79,717 | +1758.4% |
| Profit (loss) carried forward | 14 | - | €33,963 | +€33,963 | |
| Amounts payable | 17/49 | €18,907 | €16,317 | -€2,590 | -13.7% |
| Amounts payable within one year | 42/48 | €3,907 | €6,317 | +€2,410 | +61.7% |
| Trade debts | 44 | €974 | €731 | -€243 | -25.0% |
| Suppliers | 440/4 | €974 | €731 | -€243 | -25.0% |
| Advances received on contracts in progress | 46 | - | €2,070 | +€2,070 | |
| Taxes, remuneration and social security | 45 | €2,933 | €2,567 | -€366 | -12.5% |
| Taxes | 450/3 | €2,933 | €2,567 | -€366 | -12.5% |
| Other amounts payable | 47/48 | - | €950 | +€950 | |
| Accrued charges and deferred income | 492/3 | €15,000 | €10,000 | -€5,000 | -33.3% |
| Non-recurring operating income | 76A | - | €15,084 | +€15,084 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,512 | €18,040 | -€7,472 | -29.3% |
| Other operating charges | 640/8 | €6,198 | €7,401 | +€1,203 | +19.4% |
| Gross operating margin | 9900 | €46,056 | €65,301 | +€19,245 | +41.8% |
| Operating profit (loss) | 9901 | €14,346 | €39,861 | +€25,515 | +177.9% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €129 | €105 | -€24 | -18.9% |
| Recurring financial charges | 65 | €129 | €105 | -€24 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €14,217 | €39,758 | +€25,541 | +179.7% |
| Income taxes | 67/77 | €161 | €2,567 | +€2,406 | +1493.6% |
| Profit (loss) for the period | 9904 | €14,055 | €37,191 | +€23,135 | +164.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,055 | €37,191 | +€23,135 | +164.6% |
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 5 October 2026 via checked.be.