PIRGUS Projects: 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.
PIRGUS Projects
Largest movements
- Tangible fixed assets +€54,068
up €54,068 (+358.3%), from €15,090 to €69,158
of which Land and buildings: +€44,464
- Receivables within one year +€2,934
up €2,934 (+238.8%), from €1,228 to €4,162
of which Other amounts receivable: +€3,049
- Cash -€2,713
down €2,713 (-15.1%), from €17,911 to €15,198
mainly Investment in fixed assets (net) (-€60,240) and Receivables within one year (-€2,934)
- Debts after one year +€25,972
up €25,972 (+230.8%), from €11,255 to €37,227
- Current portion of long-term debt +€11,582
new in 2025: €11,582
- Reserves +€7,426
up €7,426 (+57.0%), from €13,036 to €20,462
- Tax, wage and social debts +€4,212
up €4,212 (+107.8%), from €3,906 to €8,118
of which Taxes: +€5,829
- Other debts +€3,577
up €3,577 (+451.9%), from €792 to €4,369
- Depreciation +€5,852
up €5,852 (+1825.3%), from €321 to €6,172
- Financial charges +€4,477
up €4,477 (+369.4%), from €1,212 to €5,689
- Gross operating margin +€2,156
up €2,156 (+10.7%), from €20,075 to €22,231
- Taxes -€1,539
down €1,539 (-34.8%), from €4,425 to €2,886
- Other operating charges -€876
down €876 (-81.0%), from €1,082 to €206
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 | €34,273 | €88,535 | +€54,262 | +158.3% |
| Fixed assets | 21/28 | €15,090 | €69,158 | +€54,068 | +358.3% |
| Tangible fixed assets | 22/27 | €15,090 | €69,158 | +€54,068 | +358.3% |
| Land and buildings | 22 | €13,966 | €58,430 | +€44,464 | +318.4% |
| Plant, machinery and equipment | 23 | - | €3,338 | +€3,338 | |
| Furniture and vehicles | 24 | €1,124 | €7,389 | +€6,265 | +557.3% |
| Current assets | 29/58 | €19,183 | €19,377 | +€194 | +1.0% |
| Amounts receivable within one year | 40/41 | €1,228 | €4,162 | +€2,934 | +238.8% |
| Trade receivables | 40 | €115 | €0 | -€115 | -100.0% |
| Other amounts receivable | 41 | €1,113 | €4,162 | +€3,049 | +273.8% |
| Cash at bank and in hand | 54/58 | €17,911 | €15,198 | -€2,713 | -15.1% |
| Deferred charges and accrued income | 490/1 | €43 | €17 | -€26 | -61.3% |
| Total equity and liabilities | 10/49 | €34,273 | €88,535 | +€54,262 | +158.3% |
| Equity | 10/15 | €14,036 | €21,462 | +€7,426 | +52.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €13,036 | €20,462 | +€7,426 | +57.0% |
| Distributable reserves | 133 | €13,036 | €20,462 | +€7,426 | +57.0% |
| Amounts payable | 17/49 | €20,237 | €67,073 | +€46,836 | +231.4% |
| Amounts payable after more than one year | 17 | €11,255 | €37,227 | +€25,972 | +230.8% |
| Financial debts | 170/4 | €11,255 | €37,227 | +€25,972 | +230.8% |
| Amounts payable within one year | 42/48 | €8,982 | €29,846 | +€20,863 | +232.3% |
| Current portion of amounts payable after more than one year | 42 | - | €11,582 | +€11,582 | |
| Financial debts | 43 | €534 | €515 | -€19 | -3.6% |
| Credit institutions | 430/8 | €534 | €515 | -€19 | -3.6% |
| Trade debts | 44 | €3,751 | €5,263 | +€1,511 | +40.3% |
| Suppliers | 440/4 | €3,751 | €5,263 | +€1,511 | +40.3% |
| Taxes, remuneration and social security | 45 | €3,906 | €8,118 | +€4,212 | +107.8% |
| Taxes | 450/3 | €2,289 | €8,118 | +€5,829 | +254.7% |
| Remuneration and social security | 454/9 | €1,617 | €0 | -€1,617 | -100.0% |
| Other amounts payable | 47/48 | €792 | €4,369 | +€3,577 | +451.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €321 | €6,172 | +€5,852 | +1825.3% |
| Other operating charges | 640/8 | €1,082 | €206 | -€876 | -81.0% |
| Gross operating margin | 9900 | €20,075 | €22,231 | +€2,156 | +10.7% |
| Operating profit (loss) | 9901 | €18,673 | €15,852 | -€2,820 | -15.1% |
| Financial income | 75/76B | €0 | €149 | +€149 | +248416.7% |
| Recurring financial income | 75 | €0 | €149 | +€149 | +248416.7% |
| Financial charges | 65/66B | €1,212 | €5,689 | +€4,477 | +369.4% |
| Recurring financial charges | 65 | €1,212 | €5,689 | +€4,477 | +369.4% |
| Profit (loss) for the period before taxes | 9903 | €17,461 | €10,313 | -€7,148 | -40.9% |
| Income taxes | 67/77 | €4,425 | €2,886 | -€1,539 | -34.8% |
| Profit (loss) for the period | 9904 | €13,036 | €7,426 | -€5,610 | -43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,036 | €7,426 | -€5,610 | -43.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.