PGGO: 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.
PGGO
Largest movements
- Receivables within one year +€107,363
up €107,363 (+785.9%), from €13,662 to €121,025
of which Trade receivables: +€98,223
- Cash +€2,458
up €2,458 (+76.1%), from €3,231 to €5,689
mainly Net result for the year (+€82,291) and Tax, wage and social debts (+€27,766)
- Reserves +€82,291
up €82,291 (+858.3%), from €9,587 to €91,878
- Tax, wage and social debts +€27,766
up €27,766 (+361.8%), from €7,675 to €35,441
of which Taxes: +€27,766
- Accrued charges and deferred income +€1,790
up €1,790 (+397.7%), from €450 to €2,240
- Gross operating margin +€101,570
up €101,570 (+661.6%), from €15,351 to €116,922
- Taxes +€29,266
up €29,266 (+701.0%), from €4,175 to €33,441
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 | €22,113 | €133,316 | +€111,203 | +502.9% |
| Fixed assets | 21/28 | €2,974 | €3,887 | +€913 | +30.7% |
| Tangible fixed assets | 22/27 | €2,974 | €3,887 | +€913 | +30.7% |
| Furniture and vehicles | 24 | €2,974 | €3,887 | +€913 | +30.7% |
| Current assets | 29/58 | €19,139 | €129,429 | +€110,290 | +576.3% |
| Amounts receivable within one year | 40/41 | €13,662 | €121,025 | +€107,363 | +785.9% |
| Trade receivables | 40 | €13,662 | €111,884 | +€98,223 | +719.0% |
| Other amounts receivable | 41 | - | €9,140 | +€9,140 | |
| Cash at bank and in hand | 54/58 | €3,231 | €5,689 | +€2,458 | +76.1% |
| Deferred charges and accrued income | 490/1 | €2,246 | €2,715 | +€469 | +20.9% |
| Total equity and liabilities | 10/49 | €22,113 | €133,316 | +€111,203 | +502.9% |
| Equity | 10/15 | €12,587 | €94,878 | +€82,291 | +653.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €9,587 | €91,878 | +€82,291 | +858.3% |
| Distributable reserves | 133 | €9,587 | €91,878 | +€82,291 | +858.3% |
| Amounts payable | 17/49 | €9,526 | €38,438 | +€28,912 | +303.5% |
| Amounts payable within one year | 42/48 | €9,076 | €36,198 | +€27,122 | +298.8% |
| Trade debts | 44 | €787 | €758 | -€29 | -3.7% |
| Suppliers | 440/4 | €787 | €758 | -€29 | -3.7% |
| Taxes, remuneration and social security | 45 | €7,675 | €35,441 | +€27,766 | +361.8% |
| Taxes | 450/3 | €5,675 | €33,441 | +€27,766 | +489.3% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €615 | €0 | -€615 | -100.0% |
| Accrued charges and deferred income | 492/3 | €450 | €2,240 | +€1,790 | +397.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,569 | €1,386 | -€183 | -11.7% |
| Gross operating margin | 9900 | €15,351 | €116,922 | +€101,570 | +661.6% |
| Operating profit (loss) | 9901 | €13,782 | €115,536 | +€101,754 | +738.3% |
| Financial income | 75/76B | - | €237 | +€237 | |
| Recurring financial income | 75 | - | €237 | +€237 | |
| Financial charges | 65/66B | €20 | €41 | +€21 | +106.5% |
| Recurring financial charges | 65 | €20 | €41 | +€21 | +106.5% |
| Profit (loss) for the period before taxes | 9903 | €13,762 | €115,732 | +€101,970 | +741.0% |
| Income taxes | 67/77 | €4,175 | €33,441 | +€29,266 | +701.0% |
| Profit (loss) for the period | 9904 | €9,587 | €82,291 | +€72,704 | +758.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,587 | €82,291 | +€72,704 | +758.3% |
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 5 October 2026 via checked.be.