PGL EXPERT: 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.
PGL EXPERT
Largest movements
- Tangible fixed assets -€20,642
down €20,642 (-60.4%), from €34,199 to €13,557
of which Furniture and vehicles: -€20,334
- Receivables within one year -€15,411
down €15,411 (-37.7%), from €40,854 to €25,443
of which Trade receivables: -€16,451
- Cash +€899
up €899 (+21.8%), from €4,118 to €5,017
mainly Depreciation (+€20,642) and Net result for the year (+€20,408)
- Trade debts -€19,259
no longer reported in 2025 (was €19,259)
- Debts after one year -€13,905
down €13,905 (-56.1%), from €24,795 to €10,890
- Other debts -€7,209
down €7,209 (-84.5%), from €8,528 to €1,319
- Profit (loss) carried forward +€3,408
up €3,408 (+44.9%), from €7,582 to €10,990
- Gross operating margin +€11,171
up €11,171 (+29.7%), from €37,659 to €48,830
- Depreciation -€4,738
down €4,738 (-18.7%), from €25,380 to €20,642
- Taxes +€2,345
up €2,345 (+100.0%), from €2,346 to €4,691
- Financial charges -€526
down €526 (-19.8%), from €2,656 to €2,130
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €82,139 | €46,495 | -€35,644 | -43.4% |
| Fixed assets | 21/28 | €36,089 | €15,447 | -€20,642 | -57.2% |
| Tangible fixed assets | 22/27 | €34,199 | €13,557 | -€20,642 | -60.4% |
| Plant, machinery and equipment | 23 | €308 | - | -€308 | |
| Furniture and vehicles | 24 | €33,891 | €13,557 | -€20,334 | -60.0% |
| Financial fixed assets | 28 | €1,890 | €1,890 | = | 0.0% |
| Current assets | 29/58 | €46,050 | €31,048 | -€15,002 | -32.6% |
| Amounts receivable within one year | 40/41 | €40,854 | €25,443 | -€15,411 | -37.7% |
| Trade receivables | 40 | €36,896 | €20,445 | -€16,451 | -44.6% |
| Other amounts receivable | 41 | €3,958 | €4,998 | +€1,040 | +26.3% |
| Cash at bank and in hand | 54/58 | €4,118 | €5,017 | +€899 | +21.8% |
| Deferred charges and accrued income | 490/1 | €1,078 | €588 | -€490 | -45.5% |
| Total equity and liabilities | 10/49 | €82,139 | €46,495 | -€35,644 | -43.4% |
| Equity | 10/15 | €12,582 | €15,990 | +€3,408 | +27.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,582 | €10,990 | +€3,408 | +44.9% |
| Amounts payable | 17/49 | €69,557 | €30,505 | -€39,052 | -56.1% |
| Amounts payable after more than one year | 17 | €24,795 | €10,890 | -€13,905 | -56.1% |
| Financial debts | 170/4 | €24,795 | €10,890 | -€13,905 | -56.1% |
| Amounts payable within one year | 42/48 | €44,762 | €19,266 | -€25,496 | -57.0% |
| Current portion of amounts payable after more than one year | 42 | €13,234 | €13,905 | +€671 | +5.1% |
| Trade debts | 44 | €19,259 | - | -€19,259 | |
| Suppliers | 440/4 | €19,259 | - | -€19,259 | |
| Taxes, remuneration and social security | 45 | €3,741 | €4,042 | +€301 | +8.0% |
| Taxes | 450/3 | €3,741 | €4,042 | +€301 | +8.0% |
| Other amounts payable | 47/48 | €8,528 | €1,319 | -€7,209 | -84.5% |
| Accrued charges and deferred income | 492/3 | - | €349 | +€349 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,380 | €20,642 | -€4,738 | -18.7% |
| Other operating charges | 640/8 | €1,296 | €960 | -€336 | -25.9% |
| Gross operating margin | 9900 | €37,659 | €48,830 | +€11,171 | +29.7% |
| Operating profit (loss) | 9901 | €10,983 | €27,228 | +€16,245 | +148% |
| Financial income | 75/76B | €32 | €1 | -€31 | -96.9% |
| Recurring financial income | 75 | €32 | €1 | -€31 | -96.9% |
| Financial charges | 65/66B | €2,656 | €2,130 | -€526 | -19.8% |
| Recurring financial charges | 65 | €2,656 | €2,130 | -€526 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €8,359 | €25,099 | +€16,740 | +200% |
| Income taxes | 67/77 | €2,346 | €4,691 | +€2,345 | +100.0% |
| Profit (loss) for the period | 9904 | €6,013 | €20,408 | +€14,395 | +239% |
| Profit (loss) for the period to be appropriated | 9905 | €6,013 | €20,408 | +€14,395 | +239% |
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 30 October 2026 via checked.be.