PEGASON: 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.
PEGASON
Largest movements
- Current investments -€2.2m
down €2.2m (-86.8%), from €2.6m to €340,000
- Deferred charges and accrued income +€444,168
up €444,168 (+162.0%), from €274,097 to €718,265
- Cash -€152,873
down €152,873 (-59.1%), from €258,479 to €105,606
mainly Other debts (-€1.3m) and Net result for the year (-€905,389)
- Other debts -€1.3m
down €1.3m (-100.0%), from €1.3m to €0
- Profit (loss) carried forward -€905,389
down €905,389, from €0 to -€905,389
- Gross operating margin -€2.2m
down €2.2m, from €1.9m to -€237,938
- Financial income -€31,160
down €31,160 (-57.4%), from €54,243 to €23,083
- Taxes -€25,325
down €25,325, from €17,120 to -€8,204
- Depreciation +€23,179
up €23,179 (+4.1%), from €571,034 to €594,214
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 | €11,992,305 | €9,964,989 | -€2.0m | -16.9% |
| Fixed assets | 21/28 | €8,632,663 | €8,644,469 | +€11,806 | +0.1% |
| Tangible fixed assets | 22/27 | €8,515,816 | €8,527,622 | +€11,806 | +0.1% |
| Land and buildings | 22 | €8,515,816 | €8,527,622 | +€11,806 | +0.1% |
| Financial fixed assets | 28 | €116,846 | €116,846 | = | 0.0% |
| Current assets | 29/58 | €3,359,642 | €1,320,520 | -€2.0m | -60.7% |
| Amounts receivable within one year | 40/41 | €257,066 | €156,649 | -€100,417 | -39.1% |
| Trade receivables | 40 | €257,066 | €149,354 | -€107,712 | -41.9% |
| Other amounts receivable | 41 | - | €7,295 | +€7,295 | |
| Current investments | 50/53 | €2,570,000 | €340,000 | -€2.2m | -86.8% |
| Cash at bank and in hand | 54/58 | €258,479 | €105,606 | -€152,873 | -59.1% |
| Deferred charges and accrued income | 490/1 | €274,097 | €718,265 | +€444,168 | +162.0% |
| Total equity and liabilities | 10/49 | €11,992,305 | €9,964,989 | -€2.0m | -16.9% |
| Equity | 10/15 | €10,490,010 | €9,584,621 | -€905,389 | -8.6% |
| Contributions | 10/11 | €10,474,760 | €10,474,760 | = | 0.0% |
| Reserves | 13 | €15,250 | €15,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,250 | €15,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€905,389 | -€905,389 | |
| Amounts payable | 17/49 | €1,502,295 | €380,368 | -€1.1m | -74.7% |
| Amounts payable within one year | 42/48 | €1,305,804 | €79,558 | -€1.2m | -93.9% |
| Trade debts | 44 | €15,088 | €76,113 | +€61,025 | +404.5% |
| Suppliers | 440/4 | €15,088 | €76,113 | +€61,025 | +404.5% |
| Taxes, remuneration and social security | 45 | €2,033 | €3,446 | +€1,413 | +69.5% |
| Taxes | 450/3 | €2,033 | €3,446 | +€1,413 | +69.5% |
| Other amounts payable | 47/48 | €1,288,684 | €0 | -€1.3m | -100.0% |
| Accrued charges and deferred income | 492/3 | €196,491 | €300,810 | +€104,319 | +53.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €571,034 | €594,214 | +€23,179 | +4.1% |
| Other operating charges | 640/8 | €101,541 | €104,300 | +€2,759 | +2.7% |
| Gross operating margin | 9900 | €1,924,340 | -€237,938 | -€2.2m | |
| Operating profit (loss) | 9901 | €1,251,765 | -€936,451 | -€2.2m | |
| Financial income | 75/76B | €54,243 | €23,083 | -€31,160 | -57.4% |
| Recurring financial income | 75 | €54,243 | €23,083 | -€31,160 | -57.4% |
| Financial charges | 65/66B | €204 | €225 | +€21 | +10.4% |
| Recurring financial charges | 65 | €204 | €225 | +€21 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €1,305,804 | -€913,593 | -€2.2m | |
| Income taxes | 67/77 | €17,120 | -€8,204 | -€25,325 | |
| Profit (loss) for the period | 9904 | €1,288,684 | -€905,389 | -€2.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,288,684 | -€905,389 | -€2.2m |
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 7 October 2026 via checked.be.