PEGASI: 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.
PEGASI
Largest movements
- Receivables within one year +€72,717
up €72,717 (+429%), from €16,952 to €89,669
of which Trade receivables: +€50,820
- Cash +€27,695
up €27,695 (+37.0%), from €74,891 to €102,586
mainly Net result for the year (+€125,770) and Other debts (+€90,202)
- Tangible fixed assets -€8,690
down €8,690 (-26.5%), from €32,736 to €24,046
of which Furniture and vehicles: -€7,974
- Other debts +€90,202
up €90,202 (+345%), from €26,167 to €116,369
- Current portion of long-term debt +€15,283
up €15,283 (+480%), from €3,183 to €18,466
- Profit (loss) carried forward -€9,230
new in 2025: -€9,230
- Debts after one year -€3,330
down €3,330 (-27.7%), from €12,028 to €8,697
- Gross operating margin +€124,395
up €124,395 (+227%), from €54,781 to €179,176
- Taxes +€25,863
up €25,863 (+211%), from €12,229 to €38,091
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 | €126,940 | €219,687 | +€92,747 | +73.1% |
| Fixed assets | 21/28 | €32,736 | €24,046 | -€8,690 | -26.5% |
| Tangible fixed assets | 22/27 | €32,736 | €24,046 | -€8,690 | -26.5% |
| Plant, machinery and equipment | 23 | €2,132 | €1,300 | -€833 | -39.0% |
| Furniture and vehicles | 24 | €22,588 | €14,614 | -€7,974 | -35.3% |
| Other tangible fixed assets | 26 | €8,016 | €8,132 | +€116 | +1.4% |
| Current assets | 29/58 | €94,204 | €195,641 | +€101,437 | +108% |
| Amounts receivable within one year | 40/41 | €16,952 | €89,669 | +€72,717 | +429% |
| Trade receivables | 40 | €16,940 | €67,760 | +€50,820 | +300% |
| Other amounts receivable | 41 | €12 | €21,909 | +€21,897 | +189,749% |
| Cash at bank and in hand | 54/58 | €74,891 | €102,586 | +€27,695 | +37.0% |
| Deferred charges and accrued income | 490/1 | €2,361 | €3,387 | +€1,026 | +43.4% |
| Total equity and liabilities | 10/49 | €126,940 | €219,687 | +€92,747 | +73.1% |
| Equity | 10/15 | €58,070 | €48,840 | -€9,230 | -15.9% |
| Contributions | 10/11 | €8,184 | €8,184 | = | 0.0% |
| Reserves | 13 | €49,886 | €49,886 | = | 0.0% |
| Distributable reserves | 133 | €49,886 | €49,886 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€9,230 | -€9,230 | |
| Amounts payable | 17/49 | €68,870 | €170,847 | +€101,977 | +148% |
| Amounts payable after more than one year | 17 | €12,028 | €8,697 | -€3,330 | -27.7% |
| Financial debts | 170/4 | €12,028 | €8,697 | -€3,330 | -27.7% |
| Amounts payable within one year | 42/48 | €56,842 | €162,150 | +€105,308 | +185% |
| Current portion of amounts payable after more than one year | 42 | €3,183 | €18,466 | +€15,283 | +480% |
| Trade debts | 44 | €1,442 | €2,029 | +€588 | +40.8% |
| Suppliers | 440/4 | €1,442 | €2,029 | +€588 | +40.8% |
| Taxes, remuneration and social security | 45 | €26,050 | €25,285 | -€765 | -2.9% |
| Taxes | 450/3 | €26,050 | €23,005 | -€3,045 | -11.7% |
| Remuneration and social security | 454/9 | - | €2,280 | +€2,280 | |
| Other amounts payable | 47/48 | €26,167 | €116,369 | +€90,202 | +345% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,872 | €10,407 | +€1,535 | +17.3% |
| Other operating charges | 640/8 | €1,483 | €1,120 | -€363 | -24.5% |
| Gross operating margin | 9900 | €54,781 | €179,176 | +€124,395 | +227% |
| Operating profit (loss) | 9901 | €44,426 | €167,649 | +€123,223 | +277% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €4,124 | €3,788 | -€336 | -8.1% |
| Recurring financial charges | 65 | €4,124 | €3,788 | -€336 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €40,303 | €163,861 | +€123,558 | +307% |
| Income taxes | 67/77 | €12,229 | €38,091 | +€25,863 | +211% |
| Profit (loss) for the period | 9904 | €28,074 | €125,770 | +€97,695 | +348% |
| Profit (loss) for the period to be appropriated | 9905 | €28,074 | €125,770 | +€97,695 | +348% |
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 13 October 2026 via checked.be.