PEGATRIM: 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.
What changed
PEGATRIM
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€442,291
2024 · -€559,478+€117,187
Equity
€11.7m
2024 · €12.1m-€442,291
Cash
€260,665
2024 · €427,699-€167,034
Balance sheet total
€12.3m
2024 · €12.8m-€465,096
Largest movements
Assets
- Tangible fixed assets -€430,125
down €430,125 (-4.3%), from €10.0m to €9.6m
- Cash -€167,034
down €167,034 (-39.1%), from €427,699 to €260,665
mainly Investment in fixed assets (net) (-€606,138) and Net result for the year (-€442,291)
- Current investments +€140,000
up €140,000 (+23.5%), from €595,000 to €735,000
Equity and liabilities
- Profit (loss) carried forward -€442,291
down €442,291 (-59.7%), from -€741,040 to -€1.2m
Income statement
- Gross operating margin +€190,585
up €190,585 (+32.2%), from €592,340 to €782,925
- Depreciation +€60,659
up €60,659 (+6.2%), from €975,603 to €1.0m
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.
Result 2024
-€559,478
Gross operating margin
+€190,585
Depreciation
-€60,659
Provisions
-€6,642
Other operating charges
+€1,484
Financial income
-€1,621
Financial charges
+€1,544
Taxes
-€7,505
Result 2025
-€442,291
raises the resultlowers the result
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.
From operations
+€579,104
Investment
-€746,138
Financing
€0
Cash 2024
€427,699
From operations (derived)
+€579,104
Net result for the year
-€442,291
Depreciation
+€1.0m
Receivables within one year
-€105,547
Deferred charges and accrued income
+€113,485
Trade debts
-€10,706
Tax, wage and social debts
-€6,198
Accrued charges and deferred income
-€5,901
Investment (derived)
-€746,138
Investment in fixed assets (net)
-€606,138
Current investments
-€140,000
Cash 2025
€260,665
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,787,246 | €12,322,150 | -€465,096 | -3.6% |
| Fixed assets | 21/28 | €10,166,060 | €9,735,935 | -€430,125 | -4.2% |
| Tangible fixed assets | 22/27 | €10,007,966 | €9,577,841 | -€430,125 | -4.3% |
| Land and buildings | 22 | €10,007,966 | €9,577,841 | -€430,125 | -4.3% |
| Financial fixed assets | 28 | €158,094 | €158,094 | = | 0.0% |
| Current assets | 29/58 | €2,621,186 | €2,586,214 | -€34,972 | -1.3% |
| Amounts receivable within one year | 40/41 | €86,887 | €192,434 | +€105,547 | +121% |
| Trade receivables | 40 | €75,773 | €185,799 | +€110,026 | +145% |
| Other amounts receivable | 41 | €11,114 | €6,635 | -€4,479 | -40.3% |
| Current investments | 50/53 | €595,000 | €735,000 | +€140,000 | +23.5% |
| Cash at bank and in hand | 54/58 | €427,699 | €260,665 | -€167,034 | -39.1% |
| Deferred charges and accrued income | 490/1 | €1,511,601 | €1,398,116 | -€113,485 | -7.5% |
| Total equity and liabilities | 10/49 | €12,787,246 | €12,322,150 | -€465,096 | -3.6% |
| Equity | 10/15 | €12,129,013 | €11,686,722 | -€442,291 | -3.6% |
| Contributions | 10/11 | €12,814,273 | €12,814,273 | = | 0.0% |
| Reserves | 13 | €55,779 | €55,779 | = | 0.0% |
| Tax-exempt reserves | 132 | €53,924 | €53,924 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€741,040 | -€1,183,330 | -€442,291 | -59.7% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Amounts payable | 17/49 | €658,234 | €635,428 | -€22,806 | -3.5% |
| Amounts payable within one year | 42/48 | €276,163 | €259,258 | -€16,905 | -6.1% |
| Trade debts | 44 | €175,402 | €164,696 | -€10,706 | -6.1% |
| Suppliers | 440/4 | €175,402 | €164,696 | -€10,706 | -6.1% |
| Taxes, remuneration and social security | 45 | €17,885 | €11,687 | -€6,198 | -34.7% |
| Taxes | 450/3 | €17,885 | €11,687 | -€6,198 | -34.7% |
| Other amounts payable | 47/48 | €82,875 | €82,875 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €382,071 | €376,170 | -€5,901 | -1.5% |
| Non-recurring operating income | 76A | €2,677 | €0 | -€2,677 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €975,603 | €1,036,262 | +€60,659 | +6.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€6,642 | €0 | +€6,642 | |
| Other operating charges | 640/8 | €199,129 | €197,644 | -€1,484 | -0.7% |
| Gross operating margin | 9900 | €592,340 | €782,925 | +€190,585 | +32.2% |
| Operating profit (loss) | 9901 | -€575,750 | -€450,981 | +€124,769 | +21.7% |
| Financial income | 75/76B | €11,946 | €10,325 | -€1,621 | -13.6% |
| Recurring financial income | 75 | €11,946 | €10,325 | -€1,621 | -13.6% |
| Financial charges | 65/66B | €3,179 | €1,635 | -€1,544 | -48.6% |
| Recurring financial charges | 65 | €3,179 | €1,635 | -€1,544 | -48.6% |
| Profit (loss) for the period before taxes | 9903 | -€566,983 | -€442,291 | +€124,692 | +22.0% |
| Income taxes | 67/77 | -€7,505 | €0 | +€7,505 | |
| Profit (loss) for the period | 9904 | -€559,478 | -€442,291 | +€117,187 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€559,478 | -€442,291 | +€117,187 | +20.9% |
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 20 October 2026 via checked.be.