PG58: 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.
PG58
Largest movements
- Receivables within one year +€241,668
up €241,668 (+64.0%), from €377,764 to €619,433
- Current investments -€235,231
down €235,231 (-55.1%), from €427,005 to €191,774
- Receivables after one year +€50,386
up €50,386 (+2.8%), from €1.8m to €1.8m
- Reserves +€70,385
up €70,385 (+2.7%), from €2.6m to €2.6m
of which Distributable reserves: +€70,385
- Gross operating margin +€273,117
up €273,117, from -€246,826 to €26,291
- Write-downs -€73,348
down €73,348 (-100.0%), from €73,348 to €0
- Financial charges +€42,119
up €42,119 (+2096.4%), from €2,009 to €44,128
- Other operating charges -€2,709
down €2,709 (-68.6%), from €3,948 to €1,238
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 | €3,784,960 | €3,854,603 | +€69,643 | +1.8% |
| Fixed assets | 21/28 | €1,037,110 | €1,037,110 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,037,110 | €1,037,110 | = | 0.0% |
| Land and buildings | 22 | €0 | - | = | |
| Other tangible fixed assets | 26 | €1,037,110 | €1,037,110 | = | 0.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €2,747,849 | €2,817,492 | +€69,643 | +2.5% |
| Amounts receivable after more than one year | 29 | €1,782,676 | €1,833,062 | +€50,386 | +2.8% |
| Other amounts receivable | 291 | €1,782,676 | €1,833,062 | +€50,386 | +2.8% |
| Stocks and contracts in progress | 3 | €73,348 | €73,348 | = | 0.0% |
| Stocks | 30/36 | €73,348 | €73,348 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €377,764 | €619,433 | +€241,668 | +64.0% |
| Other amounts receivable | 41 | €377,764 | €619,433 | +€241,668 | +64.0% |
| Current investments | 50/53 | €427,005 | €191,774 | -€235,231 | -55.1% |
| Cash at bank and in hand | 54/58 | €25,216 | €20,801 | -€4,416 | -17.5% |
| Deferred charges and accrued income | 490/1 | €61,840 | €79,075 | +€17,235 | +27.9% |
| Total equity and liabilities | 10/49 | €3,784,960 | €3,854,603 | +€69,643 | +1.8% |
| Equity | 10/15 | €3,782,876 | €3,853,261 | +€70,385 | +1.9% |
| Contributions | 10/11 | €1,220,000 | €1,220,000 | = | 0.0% |
| Capital | 10 | €1,220,000 | €1,220,000 | = | 0.0% |
| Issued capital | 100 | €1,220,000 | €1,220,000 | = | 0.0% |
| Reserves | 13 | €2,562,876 | €2,633,261 | +€70,385 | +2.7% |
| Non-distributable reserves | 130/1 | €122,048 | €122,048 | = | 0.0% |
| Legal reserve | 130 | €122,000 | €122,000 | = | 0.0% |
| Other | 1319 | €48 | €48 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,485 | €15,485 | = | 0.0% |
| Distributable reserves | 133 | €2,425,344 | €2,495,729 | +€70,385 | +2.9% |
| Amounts payable | 17/49 | €2,084 | €1,342 | -€742 | -35.6% |
| Amounts payable within one year | 42/48 | €2,084 | €1,342 | -€742 | -35.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,011 | €240 | -€770 | -76.2% |
| Suppliers | 440/4 | €1,011 | €240 | -€770 | -76.2% |
| Taxes, remuneration and social security | 45 | €1,073 | €1,101 | +€28 | +2.6% |
| Taxes | 450/3 | €1,073 | €1,101 | +€28 | +2.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €73,348 | €0 | -€73,348 | -100.0% |
| Other operating charges | 640/8 | €3,948 | €1,238 | -€2,709 | -68.6% |
| Non-recurring operating charges | 66A | €138,201 | €0 | -€138,201 | -100.0% |
| Gross operating margin | 9900 | -€246,826 | €26,291 | +€273,117 | |
| Operating profit (loss) | 9901 | -€462,323 | €25,053 | +€487,375 | |
| Financial income | 75/76B | €88,263 | €89,901 | +€1,638 | +1.9% |
| Recurring financial income | 75 | €88,263 | €89,901 | +€1,638 | +1.9% |
| Financial charges | 65/66B | €2,009 | €44,128 | +€42,119 | +2096.4% |
| Recurring financial charges | 65 | €2,009 | €44,128 | +€42,119 | +2096.4% |
| Profit (loss) for the period before taxes | 9903 | -€376,068 | €70,826 | +€446,895 | |
| Income taxes | 67/77 | €1,256 | €441 | -€815 | -64.9% |
| Profit (loss) for the period | 9904 | -€377,325 | €70,385 | +€447,710 | |
| Profit (loss) for the period to be appropriated | 9905 | -€377,325 | €70,385 | +€447,710 |
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 5 October 2026 via checked.be.