Pegasus: 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.
Pegasus
Largest movements
- Receivables within one year +€30,669
up €30,669 (+29.1%), from €105,381 to €136,050
of which Other amounts receivable: +€16,382
- Deferred charges and accrued income +€22,566
up €22,566 (+25553.5%), from €88 to €22,655
- Tangible fixed assets -€15,481
down €15,481 (-33.6%), from €46,032 to €30,551
of which Leasing and similar rights: -€15,370
- Cash -€3,214
down €3,214 (-12.5%), from €25,763 to €22,549
mainly Receivables within one year (-€30,669) and Other debts (-€28,331)
- Profit (loss) carried forward +€64,454
up €64,454 (+111.8%), from €57,660 to €122,114
- Other debts -€28,331
no longer reported in 2025 (was €28,331)
- Debts after one year -€12,796
down €12,796 (-76.9%), from €16,638 to €3,843
- Trade debts +€11,973
up €11,973 (+427.8%), from €2,799 to €14,771
- Current portion of long-term debt -€4,000
down €4,000 (-23.8%), from €16,796 to €12,796
- Gross operating margin +€46,777
up €46,777 (+79.8%), from €58,609 to €105,386
- Taxes +€14,985
up €14,985 (+162.3%), from €9,233 to €24,218
- Depreciation -€8,380
down €8,380 (-32.4%), from €25,827 to €17,447
- Other operating charges +€2,010
up €2,010 (+295.4%), from €680 to €2,691
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 | €177,264 | €211,805 | +€34,541 | +19.5% |
| Fixed assets | 21/28 | €46,032 | €30,551 | -€15,481 | -33.6% |
| Tangible fixed assets | 22/27 | €46,032 | €30,551 | -€15,481 | -33.6% |
| Plant, machinery and equipment | 23 | €438 | €205 | -€233 | -53.3% |
| Leasing and similar rights | 25 | €30,740 | €15,370 | -€15,370 | -50.0% |
| Other tangible fixed assets | 26 | €14,854 | €14,976 | +€123 | +0.8% |
| Current assets | 29/58 | €131,233 | €181,254 | +€50,021 | +38.1% |
| Amounts receivable within one year | 40/41 | €105,381 | €136,050 | +€30,669 | +29.1% |
| Trade receivables | 40 | €22,260 | €36,547 | +€14,287 | +64.2% |
| Other amounts receivable | 41 | €83,121 | €99,503 | +€16,382 | +19.7% |
| Cash at bank and in hand | 54/58 | €25,763 | €22,549 | -€3,214 | -12.5% |
| Deferred charges and accrued income | 490/1 | €88 | €22,655 | +€22,566 | +25553.5% |
| Total equity and liabilities | 10/49 | €177,264 | €211,805 | +€34,541 | +19.5% |
| Equity | 10/15 | €81,634 | €146,087 | +€64,454 | +79.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €21,474 | €21,474 | = | 0.0% |
| Distributable reserves | 133 | €21,474 | €21,474 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,660 | €122,114 | +€64,454 | +111.8% |
| Amounts payable | 17/49 | €95,631 | €65,718 | -€29,913 | -31.3% |
| Amounts payable after more than one year | 17 | €16,638 | €3,843 | -€12,796 | -76.9% |
| Financial debts | 170/4 | €16,638 | €3,843 | -€12,796 | -76.9% |
| Amounts payable within one year | 42/48 | €78,993 | €61,860 | -€17,133 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | €16,796 | €12,796 | -€4,000 | -23.8% |
| Trade debts | 44 | €2,799 | €14,771 | +€11,973 | +427.8% |
| Suppliers | 440/4 | €2,799 | €14,771 | +€11,973 | +427.8% |
| Taxes, remuneration and social security | 45 | €31,067 | €34,292 | +€3,225 | +10.4% |
| Taxes | 450/3 | €31,067 | €34,292 | +€3,225 | +10.4% |
| Other amounts payable | 47/48 | €28,331 | - | -€28,331 | |
| Accrued charges and deferred income | 492/3 | - | €16 | +€16 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,827 | €17,447 | -€8,380 | -32.4% |
| Other operating charges | 640/8 | €680 | €2,691 | +€2,010 | +295.4% |
| Gross operating margin | 9900 | €58,609 | €105,386 | +€46,777 | +79.8% |
| Operating profit (loss) | 9901 | €32,102 | €85,248 | +€53,146 | +165.6% |
| Financial income | 75/76B | €4,694 | €4,911 | +€217 | +4.6% |
| Recurring financial income | 75 | €4,694 | €4,911 | +€217 | +4.6% |
| Financial charges | 65/66B | €1,451 | €1,488 | +€36 | +2.5% |
| Recurring financial charges | 65 | €1,451 | €1,488 | +€36 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €35,345 | €88,672 | +€53,327 | +150.9% |
| Income taxes | 67/77 | €9,233 | €24,218 | +€14,985 | +162.3% |
| Profit (loss) for the period | 9904 | €26,112 | €64,454 | +€38,341 | +146.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,112 | €64,454 | +€38,341 | +146.8% |
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 1 October 2026 via checked.be.