PGJCL IMMO: 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.
What changed
PGJCL IMMO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€809,947
2024 · -€339,695+€1.1m
Equity
€1.8m
2024 · €953,552+€809,947
Cash
-
2024 · €13,681-€13,681
Balance sheet total
€10.5m
2024 · €10.9m-€358,479
Largest movements
Assets
- Tangible fixed assets -€609,946
down €609,946 (-6.6%), from €9.3m to €8.7m
of which Land and buildings: -€601,912
- Stocks and contracts +€261,840
up €261,840 (+22.1%), from €1.2m to €1.4m
Equity and liabilities
- Current portion of long-term debt -€2.2m
down €2.2m (-47.3%), from €4.6m to €2.4m
- Reserves +€1.0m
up €1.0m (+73.8%), from €1.4m to €2.4m
of which Tax-exempt reserves: +€1.0m
- Short-term financial debts +€663,288
new in 2025: €663,288
- Provisions +€341,326
up €341,326 (+45.2%), from €754,482 to €1.1m
- Profit (loss) carried forward -€227,710
down €227,710 (-21.5%), from -€1.1m to -€1.3m
Income statement
- Gross operating margin +€1.4m
up €1.4m (+349%), from €415,398 to €1.9m
- Financial charges -€37,382
down €37,382 (-13.4%), from €279,264 to €241,881
of which Financial charges: -€28,135
- Depreciation -€23,308
down €23,308 (-5.9%), from €396,859 to €373,551
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.
Result 2024
-€339,695
Gross operating margin
+€1.4m
Staff costs
+€483
Depreciation
+€23,308
Provisions
-€263
Other operating charges
+€976
Financial income
+€14
Financial charges
+€37,382
Taxes
+€24
Deferred taxes and other
-€361,843
Result 2025
€809,947
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€1.3m
Investment
+€234,395
Financing
-€1.5m
Cash 2024
€13,681
From operations (derived)
+€1.3m
Net result for the year
+€809,947
Depreciation
+€373,551
Stocks and contracts
-€261,840
Smaller working-capital items
+€42
Provisions
+€341,326
Trade debts
-€61,758
Other debts
+€54,627
Investment (derived)
+€234,395
Investment in fixed assets (net)
+€234,395
Financing
-€1.5m
Current portion of long-term debt
-€2.2m
Short-term financial debts
+€663,288
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,850,745 | €10,492,266 | -€358,479 | -3.3% |
| Fixed assets | 21/28 | €9,275,964 | €8,668,017 | -€607,946 | -6.6% |
| Tangible fixed assets | 22/27 | €9,275,964 | €8,666,017 | -€609,946 | -6.6% |
| Land and buildings | 22 | €9,245,809 | €8,643,897 | -€601,912 | -6.5% |
| Plant, machinery and equipment | 23 | €472 | €212 | -€260 | -55.1% |
| Furniture and vehicles | 24 | €29,682 | €21,908 | -€7,774 | -26.2% |
| Financial fixed assets | 28 | - | €2,000 | +€2,000 | |
| Current assets | 29/58 | €1,574,782 | €1,824,249 | +€249,467 | +15.8% |
| Stocks and contracts in progress | 3 | €1,186,910 | €1,448,750 | +€261,840 | +22.1% |
| Stocks | 30/36 | €1,186,910 | €1,448,750 | +€261,840 | +22.1% |
| Amounts receivable within one year | 40/41 | €368,501 | €368,501 | = | 0.0% |
| Trade receivables | 40 | €1,839 | €1,839 | = | 0.0% |
| Other amounts receivable | 41 | €366,662 | €366,662 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,681 | - | -€13,681 | |
| Deferred charges and accrued income | 490/1 | €5,690 | €6,998 | +€1,308 | +23.0% |
| Total equity and liabilities | 10/49 | €10,850,745 | €10,492,266 | -€358,479 | -3.3% |
| Equity | 10/15 | €953,552 | €1,763,499 | +€809,947 | +84.9% |
| Contributions | 10/11 | €606,804 | €606,804 | = | 0.0% |
| Capital | 10 | €606,804 | €606,804 | = | 0.0% |
| Issued capital | 100 | €606,804 | €606,804 | = | 0.0% |
| Reserves | 13 | €1,405,135 | €2,442,792 | +€1.0m | +73.8% |
| Non-distributable reserves | 130/1 | €32,812 | €32,812 | = | 0.0% |
| Legal reserve | 130 | €32,812 | €32,812 | = | 0.0% |
| Tax-exempt reserves | 132 | €755,321 | €1,792,978 | +€1.0m | +137% |
| Distributable reserves | 133 | €617,002 | €617,002 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,058,387 | -€1,286,097 | -€227,710 | -21.5% |
| Provisions and deferred taxes | 16 | €754,482 | €1,095,808 | +€341,326 | +45.2% |
| Deferred taxes | 168 | €754,482 | €1,095,808 | +€341,326 | +45.2% |
| Amounts payable | 17/49 | €9,142,711 | €7,632,959 | -€1.5m | -16.5% |
| Amounts payable after more than one year | 17 | €4,339,238 | €4,339,238 | = | 0.0% |
| Financial debts | 170/4 | €4,339,238 | €4,339,238 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,802,773 | €3,293,721 | -€1.5m | -31.4% |
| Current portion of amounts payable after more than one year | 42 | €4,578,523 | €2,411,264 | -€2.2m | -47.3% |
| Financial debts | 43 | - | €663,288 | +€663,288 | |
| Credit institutions | 430/8 | - | €663,288 | +€663,288 | |
| Trade debts | 44 | €94,809 | €33,051 | -€61,758 | -65.1% |
| Suppliers | 440/4 | €94,809 | €33,051 | -€61,758 | -65.1% |
| Taxes, remuneration and social security | 45 | €12,803 | €14,853 | +€2,050 | +16.0% |
| Taxes | 450/3 | €10,085 | €8,371 | -€1,715 | -17.0% |
| Remuneration and social security | 454/9 | €2,718 | €6,482 | +€3,764 | +139% |
| Other amounts payable | 47/48 | €116,637 | €171,264 | +€54,627 | +46.8% |
| Accrued charges and deferred income | 492/3 | €700 | - | -€700 | |
| Remuneration, social security and pensions | 62 | €36,505 | €36,022 | -€483 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €396,859 | €373,551 | -€23,308 | -5.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€263 | - | +€263 | |
| Other operating charges | 640/8 | €62,792 | €61,816 | -€976 | -1.6% |
| Gross operating margin | 9900 | €415,398 | €1,864,959 | +€1.4m | +349% |
| Operating profit (loss) | 9901 | -€80,496 | €1,393,569 | +€1.5m | |
| Financial income | 75/76B | €24 | €38 | +€14 | +59.5% |
| Recurring financial income | 75 | €24 | €38 | +€14 | +59.5% |
| Financial charges | 65/66B | €279,264 | €241,881 | -€37,382 | -13.4% |
| Recurring financial charges | 65 | €270,016 | €241,881 | -€28,135 | -10.4% |
| Non-recurring financial charges | 66B | €9,247 | - | -€9,247 | |
| Profit (loss) for the period before taxes | 9903 | -€359,736 | €1,151,726 | +€1.5m | |
| Transfer from deferred taxes | 780 | €20,517 | €20,517 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €361,843 | +€361,843 | |
| Income taxes | 67/77 | €476 | €452 | -€24 | -5.0% |
| Profit (loss) for the period | 9904 | -€339,695 | €809,947 | +€1.1m | |
| Transfer from tax-exempt reserves | 789 | €47,873 | €47,873 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €1,085,530 | +€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€291,823 | -€227,710 | +€64,112 | +22.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.