PGZ RETAIL CONCEPT: 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
PGZ RETAIL CONCEPT
NACE 46.833, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€575,639
2024 · €486,836+€88,803
Equity
€2.8m
2024 · €2.2m+€575,640
Cash
€74,370
2024 · €59,868+€14,502
Balance sheet total
€5.4m
2024 · €3.7m+€1.7m
Largest movements
Assets
- Receivables within one year +€2.1m
up €2.1m (+361%), from €581,888 to €2.7m
of which Other amounts receivable: +€1.3m
- Stocks and contracts -€433,674
down €433,674 (-14.1%), from €3.1m to €2.6m
Equity and liabilities
- Trade debts +€1.2m
up €1.2m (+133%), from €877,960 to €2.0m
- Reserves +€575,639
up €575,639 (+49.0%), from €1.2m to €1.8m
of which Distributable reserves: +€575,639
- Accrued charges and deferred income +€101,987
up €101,987 (+28.1%), from €362,313 to €464,300
- Tax, wage and social debts -€71,252
down €71,252 (-28.6%), from €248,716 to €177,464
of which Taxes: -€78,423
- Other debts -€63,395
down €63,395 (-100%), from €63,395 to €0
Income statement
- Goods and materials -€1.2m
down €1.2m (-11.4%), from €10.2m to €9.0m
of which Purchases: -€1.6m
- Turnover -€1.1m
down €1.1m (-6.7%), from €16.1m to €15.1m
- Services and other goods -€373,811
down €373,811 (-7.4%), from €5.1m to €4.7m
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
€486,836
Turnover
-€1.1m
Other operating income
-€90,024
Goods and materials
+€1.2m
Services and other goods
+€373,811
Staff costs
-€15,187
Depreciation
-€1,793
Write-downs
-€108,946
Other operating charges
+€112
Financial income
-€107,386
Financial charges
-€1,334
Taxes
-€51,172
Result 2025
€575,639
raises the resultlowers the result
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
+€27,758
Investment
-€13,257
Financing
+€0
Cash 2024
€59,868
From operations (derived)
+€27,758
Net result for the year
+€575,639
Depreciation
+€3,657
Stocks and contracts
+€433,674
Receivables within one year
-€2.1m
Deferred charges and accrued income
-€14,696
Trade debts
+€1.2m
Tax, wage and social debts
-€71,252
Other debts
-€63,395
Accrued charges and deferred income
+€101,987
Investment (derived)
-€13,257
Investment in fixed assets (net)
-€13,257
Financing
+€0
Contributions, distributions and other
+€0
Cash 2025
€74,370
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,727,233 | €5,434,496 | +€1.7m | +45.8% |
| Fixed assets | 21/28 | €17,089 | €26,689 | +€9,600 | +56.2% |
| Tangible fixed assets | 22/27 | €17,089 | €26,689 | +€9,600 | +56.2% |
| Plant, machinery and equipment | 23 | €17,089 | €26,689 | +€9,600 | +56.2% |
| Current assets | 29/58 | €3,710,144 | €5,407,807 | +€1.7m | +45.8% |
| Stocks and contracts in progress | 3 | €3,067,988 | €2,634,314 | -€433,674 | -14.1% |
| Stocks | 30/36 | €3,067,988 | €2,634,314 | -€433,674 | -14.1% |
| Work in progress | 32 | €62,150 | €37,158 | -€24,992 | -40.2% |
| Finished goods | 33 | €1,719 | €18,163 | +€16,444 | +957% |
| Goods purchased for resale | 34 | €2,901,479 | €2,429,255 | -€472,224 | -16.3% |
| Advance payments | 36 | €102,640 | €149,739 | +€47,099 | +45.9% |
| Amounts receivable within one year | 40/41 | €581,888 | €2,684,027 | +€2.1m | +361% |
| Trade receivables | 40 | €464,936 | €1,218,595 | +€753,659 | +162% |
| Other amounts receivable | 41 | €116,952 | €1,465,432 | +€1.3m | +1,153% |
| Cash at bank and in hand | 54/58 | €59,868 | €74,370 | +€14,502 | +24.2% |
| Deferred charges and accrued income | 490/1 | €400 | €15,096 | +€14,696 | +3,674% |
| Total equity and liabilities | 10/49 | €3,727,233 | €5,434,496 | +€1.7m | +45.8% |
| Equity | 10/15 | €2,174,849 | €2,750,489 | +€575,640 | +26.5% |
| Contributions | 10/11 | €999,577 | €999,577 | +€0 | 0.0% |
| Capital | 10 | €999,577 | €999,577 | +€0 | 0.0% |
| Issued capital | 100 | €999,577 | €999,577 | +€0 | 0.0% |
| Reserves | 13 | €1,175,272 | €1,750,911 | +€575,639 | +49.0% |
| Non-distributable reserves | 130/1 | €120,415 | €120,415 | -€0 | 0.0% |
| Legal reserve | 130 | €113,062 | €113,062 | -€0 | 0.0% |
| Reserves not available under the articles | 1311 | €7,353 | €7,353 | +€0 | 0.0% |
| Tax-exempt reserves | 132 | €34,943 | €34,943 | = | 0.0% |
| Distributable reserves | 133 | €1,019,914 | €1,595,553 | +€575,639 | +56.4% |
| Amounts payable | 17/49 | €1,552,384 | €2,684,008 | +€1.1m | +72.9% |
| Amounts payable within one year | 42/48 | €1,190,071 | €2,219,707 | +€1.0m | +86.5% |
| Trade debts | 44 | €877,960 | €2,042,243 | +€1.2m | +133% |
| Suppliers | 440/4 | €877,960 | €2,042,243 | +€1.2m | +133% |
| Taxes, remuneration and social security | 45 | €248,716 | €177,464 | -€71,252 | -28.6% |
| Taxes | 450/3 | €158,443 | €80,020 | -€78,423 | -49.5% |
| Remuneration and social security | 454/9 | €90,273 | €97,444 | +€7,171 | +7.9% |
| Other amounts payable | 47/48 | €63,395 | €0 | -€63,395 | -100% |
| Accrued charges and deferred income | 492/3 | €362,313 | €464,300 | +€101,987 | +28.1% |
| Operating income | 70/76A | €16,241,937 | €15,078,305 | -€1.2m | -7.2% |
| Turnover | 70 | €16,135,641 | €15,062,034 | -€1.1m | -6.7% |
| Other operating income | 74 | €106,296 | €16,272 | -€90,024 | -84.7% |
| Operating charges | 60/66A | €15,777,120 | €14,364,793 | -€1.4m | -9.0% |
| Goods for resale, raw materials and consumables | 60 | €10,212,583 | €9,048,253 | -€1.2m | -11.4% |
| Purchases | 600/8 | €10,224,406 | €8,612,481 | -€1.6m | -15.8% |
| Change in stocks: decrease (increase) | 609 | -€11,823 | €435,772 | +€447,595 | |
| Services and other goods | 61 | €5,081,427 | €4,707,616 | -€373,811 | -7.4% |
| Remuneration, social security and pensions | 62 | €443,987 | €459,174 | +€15,187 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,864 | €3,657 | +€1,793 | +96.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€63,946 | €45,000 | +€108,946 | |
| Other operating charges | 640/8 | €101,205 | €101,093 | -€112 | -0.1% |
| Operating profit (loss) | 9901 | €464,817 | €713,513 | +€248,696 | +53.5% |
| Financial income | 75/76B | €194,944 | €87,558 | -€107,386 | -55.1% |
| Recurring financial income | 75 | €194,944 | €87,558 | -€107,386 | -55.1% |
| Income from current assets | 751 | €100,041 | €13,021 | -€87,020 | -87.0% |
| Other financial income | 752/9 | €94,903 | €74,537 | -€20,366 | -21.5% |
| Financial charges | 65/66B | €3,925 | €5,259 | +€1,334 | +34.0% |
| Recurring financial charges | 65 | €3,925 | €5,259 | +€1,334 | +34.0% |
| Other financial charges | 652/9 | €3,925 | €5,259 | +€1,334 | +34.0% |
| Profit (loss) for the period before taxes | 9903 | €655,836 | €795,811 | +€139,975 | +21.3% |
| Income taxes | 67/77 | €169,000 | €220,172 | +€51,172 | +30.3% |
| Taxes | 670/3 | €169,000 | €220,172 | +€51,172 | +30.3% |
| Profit (loss) for the period | 9904 | €486,836 | €575,639 | +€88,803 | +18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €486,836 | €575,639 | +€88,803 | +18.2% |
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 26 October 2026 via checked.be.