PGMS: 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.
PGMS
Largest movements
- Cash -€129,610
down €129,610 (-12.0%), from €1.1m to €953,641
mainly Contributions, distributions and other (-€270,000) and Receivables within one year (-€104,504)
- Receivables within one year +€104,504
up €104,504 (+95.5%), from €109,419 to €213,924
of which Other amounts receivable: +€154,797
- Reserves -€198,495
down €198,495 (-3.8%), from €5.2m to €5.0m
of which Distributable reserves: -€198,495
- Other debts +€150,805
up €150,805 (+7237.4%), from €2,084 to €152,889
- Gross operating margin -€64,963
down €64,963 (-48.0%), from €135,250 to €70,287
- Financial charges +€38,512
up €38,512 (+141.4%), from €27,241 to €65,753
- Taxes -€17,522
down €17,522 (-69.1%), from €25,347 to €7,825
- Financial income +€11,208
up €11,208 (+8.5%), from €131,624 to €142,833
- Depreciation +€4,968
up €4,968 (+8.6%), from €57,998 to €62,966
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 | €6,335,433 | €6,241,261 | -€94,173 | -1.5% |
| Fixed assets | 21/28 | €3,323,969 | €3,266,515 | -€57,455 | -1.7% |
| Tangible fixed assets | 22/27 | €770,469 | €713,014 | -€57,455 | -7.5% |
| Land and buildings | 22 | €271,168 | €261,842 | -€9,326 | -3.4% |
| Furniture and vehicles | 24 | €91,230 | €73,094 | -€18,136 | -19.9% |
| Other tangible fixed assets | 26 | €408,070 | €378,078 | -€29,993 | -7.3% |
| Financial fixed assets | 28 | €2,553,501 | €2,553,501 | = | 0.0% |
| Current assets | 29/58 | €3,011,464 | €2,974,746 | -€36,718 | -1.2% |
| Amounts receivable after more than one year | 29 | €110,000 | €75,000 | -€35,000 | -31.8% |
| Other amounts receivable | 291 | €110,000 | €75,000 | -€35,000 | -31.8% |
| Amounts receivable within one year | 40/41 | €109,419 | €213,924 | +€104,504 | +95.5% |
| Trade receivables | 40 | €108,482 | €58,190 | -€50,292 | -46.4% |
| Other amounts receivable | 41 | €938 | €155,734 | +€154,797 | +16510.0% |
| Current investments | 50/53 | €1,692,872 | €1,717,834 | +€24,963 | +1.5% |
| Cash at bank and in hand | 54/58 | €1,083,251 | €953,641 | -€129,610 | -12.0% |
| Deferred charges and accrued income | 490/1 | €15,922 | €14,347 | -€1,575 | -9.9% |
| Total equity and liabilities | 10/49 | €6,335,433 | €6,241,261 | -€94,173 | -1.5% |
| Equity | 10/15 | €5,218,101 | €5,019,606 | -€198,495 | -3.8% |
| Contributions | 10/11 | €61,975 | €61,975 | = | 0.0% |
| Capital | 10 | €61,975 | €61,975 | = | 0.0% |
| Issued capital | 100 | €61,975 | €61,975 | = | 0.0% |
| Reserves | 13 | €5,156,126 | €4,957,631 | -€198,495 | -3.8% |
| Non-distributable reserves | 130/1 | €6,198 | €6,198 | = | 0.0% |
| Legal reserve | 130 | €6,198 | €6,198 | = | 0.0% |
| Tax-exempt reserves | 132 | €382 | €382 | = | 0.0% |
| Distributable reserves | 133 | €5,149,547 | €4,951,052 | -€198,495 | -3.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,117,332 | €1,221,655 | +€104,323 | +9.3% |
| Amounts payable after more than one year | 17 | €35,201 | €25,376 | -€9,825 | -27.9% |
| Financial debts | 170/4 | €35,201 | €25,376 | -€9,825 | -27.9% |
| Amounts payable within one year | 42/48 | €1,082,131 | €1,196,278 | +€114,148 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €9,452 | €9,825 | +€373 | +3.9% |
| Financial debts | 43 | €1,013,952 | €1,011,216 | -€2,736 | -0.3% |
| Credit institutions | 430/8 | €1,013,952 | €1,011,216 | -€2,736 | -0.3% |
| Trade debts | 44 | €24,797 | €5,057 | -€19,740 | -79.6% |
| Suppliers | 440/4 | €24,797 | €5,057 | -€19,740 | -79.6% |
| Taxes, remuneration and social security | 45 | €31,846 | €17,291 | -€14,554 | -45.7% |
| Taxes | 450/3 | €31,846 | €17,291 | -€14,554 | -45.7% |
| Other amounts payable | 47/48 | €2,084 | €152,889 | +€150,805 | +7237.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €12,500 | €0 | -€12,500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,998 | €62,966 | +€4,968 | +8.6% |
| Other operating charges | 640/8 | €4,750 | €5,071 | +€320 | +6.7% |
| Gross operating margin | 9900 | €135,250 | €70,287 | -€64,963 | -48.0% |
| Operating profit (loss) | 9901 | €72,502 | €2,251 | -€70,251 | -96.9% |
| Financial income | 75/76B | €131,624 | €142,833 | +€11,208 | +8.5% |
| Recurring financial income | 75 | €131,624 | €142,833 | +€11,208 | +8.5% |
| Financial charges | 65/66B | €27,241 | €65,753 | +€38,512 | +141.4% |
| Recurring financial charges | 65 | €27,241 | €65,753 | +€38,512 | +141.4% |
| Profit (loss) for the period before taxes | 9903 | €176,885 | €79,330 | -€97,555 | -55.2% |
| Income taxes | 67/77 | €25,347 | €7,825 | -€17,522 | -69.1% |
| Profit (loss) for the period | 9904 | €151,538 | €71,505 | -€80,033 | -52.8% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €151,538 | €71,505 | -€80,033 | -52.8% |
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 29 September 2026 via checked.be.