@PGBs: 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.
@PGBs
Largest movements
- Cash +€50,612
up €50,612 (+44.3%), from €114,221 to €164,833
mainly Net result for the year (+€91,993) and Receivables within one year (+€37,665)
- Current investments +€50,000
up €50,000 (+250.0%), from €19,998 to €69,998
- Receivables within one year -€37,665
down €37,665 (-92.2%), from €40,861 to €3,197
of which Other amounts receivable: -€22,767
- Reserves +€91,993
up €91,993 (+124.1%), from €74,102 to €166,095
- Other debts -€51,603
down €51,603 (-71.7%), from €72,000 to €20,397
- Tax, wage and social debts +€10,061
up €10,061 (+34.4%), from €29,231 to €39,293
- Trade debts +€9,373
up €9,373 (+596.4%), from €1,572 to €10,944
- Gross operating margin +€54,647
up €54,647 (+82.9%), from €65,936 to €120,583
- Taxes +€17,209
up €17,209 (+152.3%), from €11,299 to €28,507
- Financial income +€2,501
up €2,501 (+549.8%), from €455 to €2,956
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 | €178,905 | €238,928 | +€60,023 | +33.6% |
| Fixed assets | 21/28 | €561 | €0 | -€561 | -100.0% |
| Tangible fixed assets | 22/27 | €561 | €0 | -€561 | -100.0% |
| Furniture and vehicles | 24 | €561 | €0 | -€561 | -100.0% |
| Current assets | 29/58 | €178,344 | €238,928 | +€60,584 | +34.0% |
| Amounts receivable within one year | 40/41 | €40,861 | €3,197 | -€37,665 | -92.2% |
| Trade receivables | 40 | €17,034 | €2,137 | -€14,898 | -87.5% |
| Other amounts receivable | 41 | €23,827 | €1,060 | -€22,767 | -95.6% |
| Current investments | 50/53 | €19,998 | €69,998 | +€50,000 | +250.0% |
| Cash at bank and in hand | 54/58 | €114,221 | €164,833 | +€50,612 | +44.3% |
| Deferred charges and accrued income | 490/1 | €3,264 | €901 | -€2,363 | -72.4% |
| Total equity and liabilities | 10/49 | €178,905 | €238,928 | +€60,023 | +33.6% |
| Equity | 10/15 | €76,102 | €168,095 | +€91,993 | +120.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €74,102 | €166,095 | +€91,993 | +124.1% |
| Distributable reserves | 133 | €74,102 | €166,095 | +€91,993 | +124.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €102,803 | €70,833 | -€31,970 | -31.1% |
| Amounts payable within one year | 42/48 | €102,803 | €70,833 | -€31,970 | -31.1% |
| Trade debts | 44 | €1,572 | €10,944 | +€9,373 | +596.4% |
| Suppliers | 440/4 | €1,572 | €10,944 | +€9,373 | +596.4% |
| Advances received on contracts in progress | 46 | - | €199 | +€199 | |
| Taxes, remuneration and social security | 45 | €29,231 | €39,293 | +€10,061 | +34.4% |
| Taxes | 450/3 | €29,231 | €39,293 | +€10,061 | +34.4% |
| Other amounts payable | 47/48 | €72,000 | €20,397 | -€51,603 | -71.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,191 | €561 | -€630 | -52.9% |
| Other operating charges | 640/8 | €451 | €168 | -€283 | -62.7% |
| Gross operating margin | 9900 | €65,936 | €120,583 | +€54,647 | +82.9% |
| Operating profit (loss) | 9901 | €64,293 | €119,853 | +€55,560 | +86.4% |
| Financial income | 75/76B | €455 | €2,956 | +€2,501 | +549.8% |
| Recurring financial income | 75 | €455 | €2,956 | +€2,501 | +549.8% |
| Financial charges | 65/66B | €2,704 | €2,308 | -€396 | -14.6% |
| Recurring financial charges | 65 | €2,704 | €2,308 | -€396 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €62,044 | €120,501 | +€58,457 | +94.2% |
| Income taxes | 67/77 | €11,299 | €28,507 | +€17,209 | +152.3% |
| Profit (loss) for the period | 9904 | €50,745 | €91,993 | +€41,248 | +81.3% |
| Profit (loss) for the period to be appropriated | 9905 | €50,745 | €91,993 | +€41,248 | +81.3% |
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.