PGHM Distribution: what changed
Two financial 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.
PGHM Distribution
Largest movements
- Tangible fixed assets -€102,405
down €102,405 (-10.4%), from €980,303 to €877,899
of which Leasing and similar rights: -€62,685
- Cash -€28,628
down €28,628 (-58.4%), from €49,056 to €20,428
mainly Debts after one year (-€91,230) and Net result for the year (-€59,274)
- Stocks and contracts +€15,482
up €15,482 (+7.2%), from €216,390 to €231,872
- Debts after one year -€91,230
down €91,230 (-17.3%), from €526,595 to €435,365
- Profit (loss) carried forward -€59,274
down €59,274 (-69.6%), from -€85,203 to -€144,477
- Trade debts +€34,813
up €34,813 (+7.5%), from €463,925 to €498,738
- Gross operating margin +€213,127
up €213,127 (+314.4%), from €67,790 to €280,917
- Staff costs +€31,442
up €31,442 (+18.3%), from €171,514 to €202,956
- Depreciation +€5,861
up €5,861 (+5.7%), from €102,890 to €108,751
- Financial charges +€3,606
up €3,606 (+15.9%), from €22,744 to €26,349
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.
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.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,287,763 | €1,184,092 | -€103,671 | -8.1% |
| Fixed assets | 21/28 | €980,483 | €878,079 | -€102,405 | -10.4% |
| Tangible fixed assets | 22/27 | €980,303 | €877,899 | -€102,405 | -10.4% |
| Land and buildings | 22 | €709,868 | €671,633 | -€38,235 | -5.4% |
| Plant, machinery and equipment | 23 | €23,863 | €23,114 | -€749 | -3.1% |
| Furniture and vehicles | 24 | €2,804 | €2,068 | -€736 | -26.2% |
| Leasing and similar rights | 25 | €243,768 | €181,083 | -€62,685 | -25.7% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €307,279 | €306,013 | -€1,266 | -0.4% |
| Stocks and contracts in progress | 3 | €216,390 | €231,872 | +€15,482 | +7.2% |
| Stocks | 30/36 | €216,390 | €231,872 | +€15,482 | +7.2% |
| Amounts receivable within one year | 40/41 | €40,099 | €52,026 | +€11,927 | +29.7% |
| Trade receivables | 40 | €20,403 | €22,436 | +€2,033 | +10.0% |
| Other amounts receivable | 41 | €19,696 | €29,589 | +€9,894 | +50.2% |
| Cash at bank and in hand | 54/58 | €49,056 | €20,428 | -€28,628 | -58.4% |
| Deferred charges and accrued income | 490/1 | €1,735 | €1,688 | -€47 | -2.7% |
| Total equity and liabilities | 10/49 | €1,287,763 | €1,184,092 | -€103,671 | -8.1% |
| Equity | 10/15 | €39,797 | -€19,477 | -€59,274 | |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€85,203 | -€144,477 | -€59,274 | -69.6% |
| Amounts payable | 17/49 | €1,247,966 | €1,203,569 | -€44,397 | -3.6% |
| Amounts payable after more than one year | 17 | €526,595 | €435,365 | -€91,230 | -17.3% |
| Financial debts | 170/4 | €526,595 | €435,365 | -€91,230 | -17.3% |
| Amounts payable within one year | 42/48 | €721,371 | €768,204 | +€46,833 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €88,092 | €91,230 | +€3,139 | +3.6% |
| Trade debts | 44 | €463,925 | €498,738 | +€34,813 | +7.5% |
| Suppliers | 440/4 | €463,925 | €498,738 | +€34,813 | +7.5% |
| Taxes, remuneration and social security | 45 | €44,354 | €48,236 | +€3,881 | +8.8% |
| Taxes | 450/3 | €5,904 | €7,288 | +€1,384 | +23.4% |
| Remuneration and social security | 454/9 | €38,451 | €40,948 | +€2,497 | +6.5% |
| Other amounts payable | 47/48 | €125,000 | €130,000 | +€5,000 | +4.0% |
| Remuneration, social security and pensions | 62 | €171,514 | €202,956 | +€31,442 | +18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,890 | €108,751 | +€5,861 | +5.7% |
| Other operating charges | 640/8 | €873 | €2,563 | +€1,690 | +193.7% |
| Gross operating margin | 9900 | €67,790 | €280,917 | +€213,127 | +314.4% |
| Operating profit (loss) | 9901 | -€207,486 | -€33,354 | +€174,133 | +83.9% |
| Financial income | 75/76B | €4 | €429 | +€425 | +10389.7% |
| Recurring financial income | 75 | €4 | €429 | +€425 | +10389.7% |
| Financial charges | 65/66B | €22,744 | €26,349 | +€3,606 | +15.9% |
| Recurring financial charges | 65 | €22,744 | €26,349 | +€3,606 | +15.9% |
| Profit (loss) for the period before taxes | 9903 | -€230,226 | -€59,274 | +€170,952 | +74.3% |
| Profit (loss) for the period | 9904 | -€230,226 | -€59,274 | +€170,952 | +74.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€230,226 | -€59,274 | +€170,952 | +74.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.