PGDO: 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.
PGDO
Largest movements
- Cash +€18,573
up €18,573 (+92.3%), from €20,125 to €38,698
mainly Net result for the year (+€22,602) and Depreciation (+€5,128)
- Receivables within one year -€1,205
down €1,205 (-26.8%), from €4,500 to €3,295
- Profit (loss) carried forward +€22,602
up €22,602 (+304.2%), from €7,430 to €30,032
- Other debts -€4,929
down €4,929 (-22.9%), from €21,524 to €16,595
- Gross operating margin +€20,324
up €20,324 (+137.6%), from €14,774 to €35,097
- Depreciation -€10,504
down €10,504 (-67.2%), from €15,632 to €5,128
- Taxes +€5,002
up €5,002 (+164551.0%), from €3 to €5,005
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 | €42,377 | €59,843 | +€17,466 | +41.2% |
| Fixed assets | 21/28 | €16,365 | €16,395 | +€30 | +0.2% |
| Tangible fixed assets | 22/27 | €16,365 | €16,395 | +€30 | +0.2% |
| Plant, machinery and equipment | 23 | €8,723 | €8,822 | +€100 | +1.1% |
| Furniture and vehicles | 24 | €1,964 | €2,985 | +€1,021 | +52.0% |
| Other tangible fixed assets | 26 | €5,677 | €4,587 | -€1,090 | -19.2% |
| Current assets | 29/58 | €26,012 | €43,449 | +€17,436 | +67.0% |
| Amounts receivable within one year | 40/41 | €4,500 | €3,295 | -€1,205 | -26.8% |
| Other amounts receivable | 41 | €4,500 | €3,295 | -€1,205 | -26.8% |
| Cash at bank and in hand | 54/58 | €20,125 | €38,698 | +€18,573 | +92.3% |
| Deferred charges and accrued income | 490/1 | €1,387 | €1,456 | +€69 | +4.9% |
| Total equity and liabilities | 10/49 | €42,377 | €59,843 | +€17,466 | +41.2% |
| Equity | 10/15 | €17,430 | €40,032 | +€22,602 | +129.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,430 | €30,032 | +€22,602 | +304.2% |
| Amounts payable | 17/49 | €24,947 | €19,811 | -€5,136 | -20.6% |
| Amounts payable within one year | 42/48 | €24,809 | €19,553 | -€5,256 | -21.2% |
| Trade debts | 44 | €608 | €280 | -€327 | -53.9% |
| Suppliers | 440/4 | €608 | €280 | -€327 | -53.9% |
| Taxes, remuneration and social security | 45 | €2,678 | €2,678 | = | 0.0% |
| Taxes | 450/3 | €2,678 | €2,678 | = | 0.0% |
| Other amounts payable | 47/48 | €21,524 | €16,595 | -€4,929 | -22.9% |
| Accrued charges and deferred income | 492/3 | €138 | €258 | +€121 | +87.7% |
| Non-recurring operating income | 76A | - | €19,000 | +€19,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,632 | €5,128 | -€10,504 | -67.2% |
| Other operating charges | 640/8 | €2,196 | €2,216 | +€20 | +0.9% |
| Gross operating margin | 9900 | €14,774 | €35,097 | +€20,324 | +137.6% |
| Operating profit (loss) | 9901 | -€3,054 | €27,753 | +€30,808 | |
| Financial income | 75/76B | - | €42 | +€42 | |
| Recurring financial income | 75 | - | €42 | +€42 | |
| Financial charges | 65/66B | €148 | €188 | +€41 | +27.5% |
| Recurring financial charges | 65 | €148 | €188 | +€41 | +27.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,202 | €27,607 | +€30,809 | |
| Income taxes | 67/77 | €3 | €5,005 | +€5,002 | +164551.0% |
| Profit (loss) for the period | 9904 | -€3,205 | €22,602 | +€25,807 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,205 | €22,602 | +€25,807 |
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.