PG STRATEGIES: 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.
PG STRATEGIES
Largest movements
- Receivables within one year +€85,796
up €85,796 (+65.5%), from €130,939 to €216,735
of which Other amounts receivable: +€44,692
- Cash -€35,014
down €35,014 (-45.6%), from €76,720 to €41,707
mainly Receivables within one year (-€85,796) and Tax, wage and social debts (-€48,357)
- Reserves +€61,343
up €61,343 (+40.6%), from €150,907 to €212,251
- Tax, wage and social debts -€48,357
down €48,357 (-56.6%), from €85,423 to €37,066
- Trade debts +€36,501
up €36,501 (+909%), from €4,014 to €40,515
- Gross operating margin -€55,087
down €55,087 (-38.1%), from €144,497 to €89,410
- Taxes -€16,973
down €16,973 (-38.6%), from €44,005 to €27,033
- Financial income +€2,358
up €2,358 (+52.7%), from €4,472 to €6,831
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 | €242,441 | €292,080 | +€49,639 | +20.5% |
| Fixed assets | 21/28 | €32,670 | €31,411 | -€1,259 | -3.9% |
| Tangible fixed assets | 22/27 | €32,670 | €31,411 | -€1,259 | -3.9% |
| Furniture and vehicles | 24 | €1,473 | €3,814 | +€2,341 | +159% |
| Other tangible fixed assets | 26 | €31,197 | €27,597 | -€3,600 | -11.5% |
| Current assets | 29/58 | €209,772 | €260,670 | +€50,898 | +24.3% |
| Amounts receivable within one year | 40/41 | €130,939 | €216,735 | +€85,796 | +65.5% |
| Trade receivables | 40 | €27,914 | €69,018 | +€41,104 | +147% |
| Other amounts receivable | 41 | €103,025 | €147,718 | +€44,692 | +43.4% |
| Cash at bank and in hand | 54/58 | €76,720 | €41,707 | -€35,014 | -45.6% |
| Deferred charges and accrued income | 490/1 | €2,113 | €2,228 | +€115 | +5.4% |
| Total equity and liabilities | 10/49 | €242,441 | €292,080 | +€49,639 | +20.5% |
| Equity | 10/15 | €152,907 | €214,251 | +€61,343 | +40.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €150,907 | €212,251 | +€61,343 | +40.6% |
| Distributable reserves | 133 | €150,907 | €212,251 | +€61,343 | +40.6% |
| Amounts payable | 17/49 | €89,534 | €77,829 | -€11,705 | -13.1% |
| Amounts payable within one year | 42/48 | €89,437 | €77,581 | -€11,856 | -13.3% |
| Trade debts | 44 | €4,014 | €40,515 | +€36,501 | +909% |
| Suppliers | 440/4 | €4,014 | €40,515 | +€36,501 | +909% |
| Taxes, remuneration and social security | 45 | €85,423 | €37,066 | -€48,357 | -56.6% |
| Taxes | 450/3 | €85,423 | €37,066 | -€48,357 | -56.6% |
| Accrued charges and deferred income | 492/3 | €97 | €248 | +€151 | +155% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,698 | €4,344 | +€646 | +17.5% |
| Other operating charges | 640/8 | €2,197 | €1,840 | -€357 | -16.2% |
| Gross operating margin | 9900 | €144,497 | €89,410 | -€55,087 | -38.1% |
| Operating profit (loss) | 9901 | €138,602 | €83,226 | -€55,376 | -40.0% |
| Financial income | 75/76B | €4,472 | €6,831 | +€2,358 | +52.7% |
| Recurring financial income | 75 | €4,472 | €6,831 | +€2,358 | +52.7% |
| Financial charges | 65/66B | €1,411 | €1,681 | +€270 | +19.1% |
| Recurring financial charges | 65 | €1,411 | €1,681 | +€270 | +19.1% |
| Profit (loss) for the period before taxes | 9903 | €141,663 | €88,376 | -€53,288 | -37.6% |
| Income taxes | 67/77 | €44,005 | €27,033 | -€16,973 | -38.6% |
| Profit (loss) for the period | 9904 | €97,658 | €61,343 | -€36,315 | -37.2% |
| Profit (loss) for the period to be appropriated | 9905 | €97,658 | €61,343 | -€36,315 | -37.2% |
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 29 October 2026 via checked.be.