PEGASUS appart: 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.
PEGASUS appart
Largest movements
- Receivables within one year +€185,711
up €185,711 (+4,330%), from €4,289 to €190,000
of which Other amounts receivable: +€185,711
- Debts after one year +€3.7m
up €3.7m (+458%), from €800,000 to €4.5m
- Short-term financial debts -€3.6m
down €3.6m (-100%), from €3.6m to €0
- Other debts -€182,755
down €182,755 (-96.0%), from €190,293 to €7,538
- Current portion of long-term debt +€162,598
new in 2025: €162,598
- Profit (loss) carried forward +€59,973
up €59,973 (+12.8%), from -€467,155 to -€407,182
- Financial charges -€54,017
down €54,017 (-28.5%), from €189,503 to €135,486
- Gross operating margin +€20,670
up €20,670 (+5.9%), from €350,542 to €371,212
- Other operating charges -€4,016
down €4,016 (-7.6%), from €53,007 to €48,991
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 | €5,089,680 | €5,233,740 | +€144,060 | +2.8% |
| Fixed assets | 21/28 | €5,079,273 | €5,035,889 | -€43,383 | -0.9% |
| Tangible fixed assets | 22/27 | €5,079,273 | €5,035,889 | -€43,383 | -0.9% |
| Land and buildings | 22 | €5,079,273 | €5,035,889 | -€43,383 | -0.9% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €10,408 | €197,851 | +€187,443 | +1,801% |
| Amounts receivable within one year | 40/41 | €4,289 | €190,000 | +€185,711 | +4,330% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €4,289 | €190,000 | +€185,711 | +4,330% |
| Cash at bank and in hand | 54/58 | €6,119 | €3,485 | -€2,634 | -43.0% |
| Deferred charges and accrued income | 490/1 | €0 | €4,366 | +€4,366 | |
| Total equity and liabilities | 10/49 | €5,089,680 | €5,233,740 | +€144,060 | +2.8% |
| Equity | 10/15 | €532,845 | €592,818 | +€59,973 | +11.3% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€467,155 | -€407,182 | +€59,973 | +12.8% |
| Amounts payable | 17/49 | €4,556,835 | €4,640,922 | +€84,087 | +1.8% |
| Amounts payable after more than one year | 17 | €800,000 | €4,464,111 | +€3.7m | +458% |
| Financial debts | 170/4 | €800,000 | €4,464,111 | +€3.7m | +458% |
| Amounts payable within one year | 42/48 | €3,756,835 | €176,812 | -€3.6m | -95.3% |
| Current portion of amounts payable after more than one year | 42 | - | €162,598 | +€162,598 | |
| Financial debts | 43 | €3,564,000 | €0 | -€3.6m | -100% |
| Credit institutions | 430/8 | €3,564,000 | €0 | -€3.6m | -100% |
| Trade debts | 44 | €1,706 | €6,676 | +€4,970 | +291% |
| Suppliers | 440/4 | €1,706 | €6,676 | +€4,970 | +291% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €837 | €0 | -€837 | -100% |
| Taxes | 450/3 | €837 | €0 | -€837 | -100% |
| Other amounts payable | 47/48 | €190,293 | €7,538 | -€182,755 | -96.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123,972 | €126,762 | +€2,790 | +2.3% |
| Other operating charges | 640/8 | €53,007 | €48,991 | -€4,016 | -7.6% |
| Gross operating margin | 9900 | €350,542 | €371,212 | +€20,670 | +5.9% |
| Operating profit (loss) | 9901 | €173,563 | €195,459 | +€21,897 | +12.6% |
| Financial charges | 65/66B | €189,503 | €135,486 | -€54,017 | -28.5% |
| Recurring financial charges | 65 | €189,503 | €135,486 | -€54,017 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | -€15,941 | €59,973 | +€75,914 | |
| Profit (loss) for the period | 9904 | -€15,941 | €59,973 | +€75,914 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,941 | €59,973 | +€75,914 |
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 16 October 2026 via checked.be.