PGS RECON: 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.
PGS RECON
Largest movements
- Receivables within one year +€156,911
up €156,911 (+37.1%), from €422,769 to €579,680
of which Trade receivables: +€157,845
- Cash +€52,235
up €52,235 (+203.5%), from €25,667 to €77,902
mainly Contributions, distributions and other (+€249,000) and Tax, wage and social debts (+€92,591)
- Stocks and contracts +€29,633
up €29,633 (+59.5%), from €49,803 to €79,435
- Tangible fixed assets -€14,240
down €14,240 (-9.4%), from €151,869 to €137,629
of which Plant, machinery and equipment: -€14,445
- Contributions +€249,000
up €249,000 (+24900.0%), from €1,000 to €250,000
- Other debts -€180,000
down €180,000 (-45.0%), from €400,000 to €220,000
- Tax, wage and social debts +€92,591
up €92,591 (+204.2%), from €45,350 to €137,941
of which Remuneration and social security: +€105,240
- Trade debts +€42,273
up €42,273 (+16.7%), from €253,147 to €295,420
- Accrued charges and deferred income +€16,427
up €16,427 (+6538.0%), from €251 to €16,678
- Gross operating margin +€517,222
up €517,222 (+291.1%), from €177,654 to €694,876
- Staff costs +€442,542
up €442,542 (+237.5%), from €186,363 to €628,906
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.
Cash bridge derived
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 | €661,045 | €878,936 | +€217,891 | +33.0% |
| Formation expenses | 20 | €8,799 | €768 | -€8,031 | -91.3% |
| Fixed assets | 21/28 | €152,026 | €137,629 | -€14,397 | -9.5% |
| Intangible fixed assets | 21 | €157 | €0 | -€157 | -100.0% |
| Tangible fixed assets | 22/27 | €151,869 | €137,629 | -€14,240 | -9.4% |
| Plant, machinery and equipment | 23 | €116,320 | €101,875 | -€14,445 | -12.4% |
| Furniture and vehicles | 24 | €24,760 | €23,425 | -€1,335 | -5.4% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €10,790 | €12,329 | +€1,539 | +14.3% |
| Current assets | 29/58 | €500,221 | €740,539 | +€240,319 | +48.0% |
| Stocks and contracts in progress | 3 | €49,803 | €79,435 | +€29,633 | +59.5% |
| Stocks | 30/36 | €49,803 | €79,435 | +€29,633 | +59.5% |
| Amounts receivable within one year | 40/41 | €422,769 | €579,680 | +€156,911 | +37.1% |
| Trade receivables | 40 | €421,797 | €579,642 | +€157,845 | +37.4% |
| Other amounts receivable | 41 | €972 | €38 | -€934 | -96.1% |
| Cash at bank and in hand | 54/58 | €25,667 | €77,902 | +€52,235 | +203.5% |
| Deferred charges and accrued income | 490/1 | €1,982 | €3,522 | +€1,540 | +77.7% |
| Total equity and liabilities | 10/49 | €661,045 | €878,936 | +€217,891 | +33.0% |
| Equity | 10/15 | -€37,704 | €208,896 | +€246,600 | |
| Contributions | 10/11 | €1,000 | €250,000 | +€249,000 | +24900.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€38,704 | -€41,104 | -€2,400 | -6.2% |
| Amounts payable | 17/49 | €698,749 | €670,040 | -€28,709 | -4.1% |
| Amounts payable within one year | 42/48 | €698,498 | €653,362 | -€45,136 | -6.5% |
| Trade debts | 44 | €253,147 | €295,420 | +€42,273 | +16.7% |
| Suppliers | 440/4 | €253,147 | €295,420 | +€42,273 | +16.7% |
| Taxes, remuneration and social security | 45 | €45,350 | €137,941 | +€92,591 | +204.2% |
| Taxes | 450/3 | €26,125 | €13,477 | -€12,648 | -48.4% |
| Remuneration and social security | 454/9 | €19,225 | €124,465 | +€105,240 | +547.4% |
| Other amounts payable | 47/48 | €400,000 | €220,000 | -€180,000 | -45.0% |
| Accrued charges and deferred income | 492/3 | €251 | €16,678 | +€16,427 | +6538.0% |
| Remuneration, social security and pensions | 62 | €186,363 | €628,906 | +€442,542 | +237.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,113 | €47,357 | -€3,756 | -7.3% |
| Other operating charges | 640/8 | €6,013 | €7,257 | +€1,245 | +20.7% |
| Gross operating margin | 9900 | €177,654 | €694,876 | +€517,222 | +291.1% |
| Operating profit (loss) | 9901 | -€65,834 | €11,357 | +€77,191 | |
| Financial income | 75/76B | €0 | €66 | +€66 | |
| Recurring financial income | 75 | €0 | €66 | +€66 | |
| Financial charges | 65/66B | €9,935 | €13,605 | +€3,670 | +36.9% |
| Recurring financial charges | 65 | €9,935 | €13,605 | +€3,670 | +36.9% |
| Profit (loss) for the period before taxes | 9903 | -€75,769 | -€2,182 | +€73,588 | +97.1% |
| Income taxes | 67/77 | €1,126 | €218 | -€908 | -80.6% |
| Profit (loss) for the period | 9904 | -€76,896 | -€2,400 | +€74,495 | +96.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€76,896 | -€2,400 | +€74,495 | +96.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.