PGE: 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.
What changed
PGE
NACE 43.320, Joinery installation
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€181,441
2023 · €381,647-€200,206
Equity
€2.3m
2023 · €2.1m+€181,441
Cash
€453,234
2023 · €369,732+€83,502
Balance sheet total
€2.4m
2023 · €2.3m+€75,297
Largest movements
Assets
- Cash +€83,502
up €83,502 (+22.6%), from €369,732 to €453,234
mainly Net result for the year (+€181,441) and Depreciation (+€44,793)
- Deferred charges and accrued income -€43,864
down €43,864 (-70.7%), from €62,058 to €18,194
Equity and liabilities
- Reserves +€181,441
up €181,441 (+8.6%), from €2.1m to €2.3m
of which Distributable reserves: +€181,441
- Trade debts -€101,172
down €101,172 (-62.4%), from €162,039 to €60,867
Income statement
- Staff costs +€193,150
up €193,150 (+28.0%), from €690,444 to €883,594
- Gross operating margin -€121,245
down €121,245 (-9.3%), from €1.3m to €1.2m
- Taxes -€97,223
down €97,223 (-52.7%), from €184,451 to €87,227
- Financial income +€23,617
up €23,617 (+147.7%), from €15,991 to €39,608
From the 2023 result to the 2024 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 2023
€381,647
Gross operating margin
-€121,245
Staff costs
-€193,150
Depreciation
+€4,401
Write-downs
-€11,977
Other operating charges
+€1,512
Financial income
+€23,617
Financial charges
-€587
Taxes
+€97,223
Result 2024
€181,441
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€149,230
Investment
-€59,674
Financing
-€6,055
Cash 2023
€369,732
From operations (derived)
+€149,230
Net result for the year
+€181,441
Depreciation
+€44,793
Receivables after one year
-€16,869
Stocks and contracts
-€6,123
Receivables within one year
+€2,215
Deferred charges and accrued income
+€43,864
Trade debts
-€101,172
Tax, wage and social debts
+€5,799
Other debts
-€3,964
Accrued charges and deferred income
-€753
Investment (derived)
-€59,674
Investment in fixed assets (net)
-€59,674
Financing
-€6,055
Debts after one year
-€508
Current portion of long-term debt
-€5,547
Cash 2024
€453,234
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,305,779 | €2,381,076 | +€75,297 | +3.3% |
| Fixed assets | 21/28 | €343,386 | €358,267 | +€14,881 | +4.3% |
| Tangible fixed assets | 22/27 | €343,386 | €358,267 | +€14,881 | +4.3% |
| Land and buildings | 22 | €217,336 | €214,829 | -€2,507 | -1.2% |
| Plant, machinery and equipment | 23 | €19,229 | €12,930 | -€6,299 | -32.8% |
| Furniture and vehicles | 24 | €106,821 | €100,116 | -€6,705 | -6.3% |
| Other tangible fixed assets | 26 | - | €30,392 | +€30,392 | |
| Current assets | 29/58 | €1,962,393 | €2,022,808 | +€60,416 | +3.1% |
| Amounts receivable after more than one year | 29 | €344,600 | €361,469 | +€16,869 | +4.9% |
| Other amounts receivable | 291 | €344,600 | €361,469 | +€16,869 | +4.9% |
| Stocks and contracts in progress | 3 | - | €6,123 | +€6,123 | |
| Stocks | 30/36 | - | €6,123 | +€6,123 | |
| Amounts receivable within one year | 40/41 | €1,186,002 | €1,183,787 | -€2,215 | -0.2% |
| Trade receivables | 40 | €670,518 | €484,518 | -€186,000 | -27.7% |
| Other amounts receivable | 41 | €515,484 | €699,269 | +€183,786 | +35.7% |
| Cash at bank and in hand | 54/58 | €369,732 | €453,234 | +€83,502 | +22.6% |
| Deferred charges and accrued income | 490/1 | €62,058 | €18,194 | -€43,864 | -70.7% |
| Total equity and liabilities | 10/49 | €2,305,779 | €2,381,076 | +€75,297 | +3.3% |
| Equity | 10/15 | €2,116,947 | €2,298,388 | +€181,441 | +8.6% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €2,097,947 | €2,279,388 | +€181,441 | +8.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,097,947 | €2,279,388 | +€181,441 | +8.6% |
| Amounts payable | 17/49 | €188,831 | €82,687 | -€106,144 | -56.2% |
| Amounts payable after more than one year | 17 | €508 | €0 | -€508 | -100.0% |
| Financial debts | 170/4 | €508 | €0 | -€508 | -100.0% |
| Amounts payable within one year | 42/48 | €187,571 | €82,687 | -€104,883 | -55.9% |
| Current portion of amounts payable after more than one year | 42 | €6,055 | €508 | -€5,547 | -91.6% |
| Trade debts | 44 | €162,039 | €60,867 | -€101,172 | -62.4% |
| Suppliers | 440/4 | €162,039 | €60,867 | -€101,172 | -62.4% |
| Taxes, remuneration and social security | 45 | €9,539 | €15,338 | +€5,799 | +60.8% |
| Taxes | 450/3 | €3,550 | €8,390 | +€4,840 | +136.3% |
| Remuneration and social security | 454/9 | €5,989 | €6,948 | +€959 | +16.0% |
| Other amounts payable | 47/48 | €9,938 | €5,975 | -€3,964 | -39.9% |
| Accrued charges and deferred income | 492/3 | €753 | €0 | -€753 | -100.0% |
| Non-recurring operating income | 76A | €2,490 | €1,910 | -€580 | -23.3% |
| Remuneration, social security and pensions | 62 | €690,444 | €883,594 | +€193,150 | +28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,194 | €44,793 | -€4,401 | -8.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€19,647 | -€7,670 | +€11,977 | +61.0% |
| Other operating charges | 640/8 | €26,669 | €25,157 | -€1,512 | -5.7% |
| Gross operating margin | 9900 | €1,303,849 | €1,182,605 | -€121,245 | -9.3% |
| Operating profit (loss) | 9901 | €557,190 | €236,731 | -€320,460 | -57.5% |
| Financial income | 75/76B | €15,991 | €39,608 | +€23,617 | +147.7% |
| Recurring financial income | 75 | €15,991 | €39,608 | +€23,617 | +147.7% |
| Financial charges | 65/66B | €7,083 | €7,670 | +€587 | +8.3% |
| Recurring financial charges | 65 | €7,083 | €7,670 | +€587 | +8.3% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €566,098 | €268,668 | -€297,430 | -52.5% |
| Income taxes | 67/77 | €184,451 | €87,227 | -€97,223 | -52.7% |
| Profit (loss) for the period | 9904 | €381,647 | €181,441 | -€200,206 | -52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €381,647 | €181,441 | -€200,206 | -52.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.