PJGR: 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.
PJGR
Largest movements
- Cash +€60,219
up €60,219 (+30.9%), from €194,898 to €255,117
mainly Receivables within one year (+€19,636) and Depreciation (+€19,517)
- Tangible fixed assets -€22,282
down €22,282 (-2.7%), from €822,426 to €800,145
of which Land and buildings: -€14,250
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€766,044
down €766,044 (-91.3%), from €838,659 to €72,614
- Taxes -€189,847
down €189,847 (-97.1%), from €195,615 to €5,768
- Other operating charges -€11,278
down €11,278 (-51.4%), from €21,949 to €10,671
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 | €2,186,960 | €2,205,262 | +€18,302 | +0.8% |
| Fixed assets | 21/28 | €822,426 | €800,145 | -€22,282 | -2.7% |
| Tangible fixed assets | 22/27 | €822,426 | €800,145 | -€22,282 | -2.7% |
| Land and buildings | 22 | €795,500 | €781,250 | -€14,250 | -1.8% |
| Plant, machinery and equipment | 23 | €13,433 | €9,833 | -€3,600 | -26.8% |
| Furniture and vehicles | 24 | €13,494 | €9,062 | -€4,432 | -32.8% |
| Current assets | 29/58 | €1,364,533 | €1,405,117 | +€40,583 | +3.0% |
| Amounts receivable within one year | 40/41 | €1,169,636 | €1,150,000 | -€19,636 | -1.7% |
| Trade receivables | 40 | €19,636 | €0 | -€19,636 | -100.0% |
| Other amounts receivable | 41 | €1,150,000 | €1,150,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €194,898 | €255,117 | +€60,219 | +30.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,186,960 | €2,205,262 | +€18,302 | +0.8% |
| Equity | 10/15 | €1,727,761 | €1,744,954 | +€17,193 | +1.0% |
| Contributions | 10/11 | €691,748 | €691,748 | = | 0.0% |
| Revaluation surpluses | 12 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €1,028,514 | €1,045,707 | +€17,193 | +1.7% |
| Distributable reserves | 133 | €1,028,514 | €1,045,707 | +€17,193 | +1.7% |
| Amounts payable | 17/49 | €459,198 | €460,307 | +€1,109 | +0.2% |
| Amounts payable after more than one year | 17 | €410,000 | €410,000 | = | 0.0% |
| Financial debts | 170/4 | €410,000 | €410,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €49,198 | €50,307 | +€1,109 | +2.3% |
| Trade debts | 44 | €10,322 | €2,363 | -€7,959 | -77.1% |
| Suppliers | 440/4 | €10,322 | €2,363 | -€7,959 | -77.1% |
| Taxes, remuneration and social security | 45 | €11,150 | €7,303 | -€3,847 | -34.5% |
| Taxes | 450/3 | €11,150 | €7,303 | -€3,847 | -34.5% |
| Other amounts payable | 47/48 | €27,727 | €40,642 | +€12,915 | +46.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €771,168 | €0 | -€771,168 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,726 | €19,517 | +€3,791 | +24.1% |
| Other operating charges | 640/8 | €21,949 | €10,671 | -€11,278 | -51.4% |
| Non-recurring operating charges | 66A | - | €940 | +€940 | |
| Gross operating margin | 9900 | €838,659 | €72,614 | -€766,044 | -91.3% |
| Operating profit (loss) | 9901 | €800,983 | €41,486 | -€759,497 | -94.8% |
| Financial charges | 65/66B | €18,524 | €18,525 | +€2 | 0.0% |
| Recurring financial charges | 65 | €18,524 | €18,525 | +€2 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €782,460 | €22,961 | -€759,499 | -97.1% |
| Income taxes | 67/77 | €195,615 | €5,768 | -€189,847 | -97.1% |
| Profit (loss) for the period | 9904 | €586,845 | €17,193 | -€569,652 | -97.1% |
| Profit (loss) for the period to be appropriated | 9905 | €586,845 | €17,193 | -€569,652 | -97.1% |
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 1 October 2026 via checked.be.