PGP: 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.
PGP
Largest movements
- Cash -€42,645
down €42,645 (-93.0%), from €45,840 to €3,196
mainly Investment in fixed assets (net) (-€225,258) and Net result for the year (-€150,327)
- Tangible fixed assets +€41,732
up €41,732 (+1.4%), from €3.0m to €3.0m
of which Furniture and vehicles: +€49,181
- Other debts +€216,103
up €216,103 (+24.8%), from €869,980 to €1.1m
- Profit (loss) carried forward -€150,327
down €150,327 (-110.8%), from -€135,659 to -€285,986
- Current portion of long-term debt -€92,812
no longer reported in 2026 (was €92,812)
- Gross operating margin -€765,457
down €765,457 (-89.0%), from €860,344 to €94,887
- Taxes -€211,168
down €211,168 (-99.5%), from €212,208 to €1,040
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,268,342 | €3,275,362 | +€7,020 | +0.2% |
| Fixed assets | 21/28 | €2,990,969 | €3,032,701 | +€41,732 | +1.4% |
| Tangible fixed assets | 22/27 | €2,990,969 | €3,032,701 | +€41,732 | +1.4% |
| Land and buildings | 22 | €2,765,354 | €2,756,664 | -€8,690 | -0.3% |
| Plant, machinery and equipment | 23 | €3,938 | €5,179 | +€1,241 | +31.5% |
| Furniture and vehicles | 24 | €221,678 | €270,858 | +€49,181 | +22.2% |
| Current assets | 29/58 | €277,373 | €242,661 | -€34,712 | -12.5% |
| Amounts receivable within one year | 40/41 | €14,291 | €20,207 | +€5,916 | +41.4% |
| Trade receivables | 40 | €1,499 | €20,207 | +€18,708 | +1248.0% |
| Other amounts receivable | 41 | €12,792 | - | -€12,792 | |
| Current investments | 50/53 | €200,000 | €203,200 | +€3,200 | +1.6% |
| Cash at bank and in hand | 54/58 | €45,840 | €3,196 | -€42,645 | -93.0% |
| Deferred charges and accrued income | 490/1 | €17,242 | €16,058 | -€1,184 | -6.9% |
| Total equity and liabilities | 10/49 | €3,268,342 | €3,275,362 | +€7,020 | +0.2% |
| Equity | 10/15 | €2,277,686 | €2,127,359 | -€150,327 | -6.6% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €2,389,345 | €2,389,345 | = | 0.0% |
| Non-distributable reserves | 130/1 | €35,835 | €35,835 | = | 0.0% |
| Reserves not available under the articles | 1311 | €35,835 | €35,835 | = | 0.0% |
| Distributable reserves | 133 | €2,353,510 | €2,353,510 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€135,659 | -€285,986 | -€150,327 | -110.8% |
| Amounts payable | 17/49 | €990,656 | €1,148,003 | +€157,347 | +15.9% |
| Amounts payable within one year | 42/48 | €990,656 | €1,148,003 | +€157,347 | +15.9% |
| Current portion of amounts payable after more than one year | 42 | €92,812 | - | -€92,812 | |
| Trade debts | 44 | €16,519 | €42,355 | +€25,835 | +156.4% |
| Suppliers | 440/4 | €16,519 | €42,355 | +€25,835 | +156.4% |
| Taxes, remuneration and social security | 45 | €11,345 | €19,564 | +€8,220 | +72.5% |
| Taxes | 450/3 | €11,345 | €19,564 | +€8,220 | +72.5% |
| Other amounts payable | 47/48 | €869,980 | €1,086,084 | +€216,103 | +24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €183,921 | €183,526 | -€395 | -0.2% |
| Other operating charges | 640/8 | €5,905 | €9,877 | +€3,971 | +67.3% |
| Non-recurring operating charges | 66A | - | €9,515 | +€9,515 | |
| Gross operating margin | 9900 | €860,344 | €94,887 | -€765,457 | -89.0% |
| Operating profit (loss) | 9901 | €670,518 | -€108,030 | -€778,548 | |
| Financial income | 75/76B | €110 | €3,293 | +€3,184 | +2902.9% |
| Recurring financial income | 75 | €110 | €3,293 | +€3,184 | +2902.9% |
| Financial charges | 65/66B | €47,438 | €44,549 | -€2,889 | -6.1% |
| Recurring financial charges | 65 | €47,194 | €44,549 | -€2,645 | -5.6% |
| Non-recurring financial charges | 66B | €244 | - | -€244 | |
| Profit (loss) for the period before taxes | 9903 | €623,190 | -€149,287 | -€772,476 | |
| Income taxes | 67/77 | €212,208 | €1,040 | -€211,168 | -99.5% |
| Profit (loss) for the period | 9904 | €410,981 | -€150,327 | -€561,308 | |
| Profit (loss) for the period to be appropriated | 9905 | €410,981 | -€150,327 | -€561,308 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.