PMG CHARGE: 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.
PMG CHARGE
Largest movements
- Receivables within one year +€177,102
up €177,102 (+350%), from €50,642 to €227,744
of which Trade receivables: +€185,484
- Stocks and contracts +€108,329
up €108,329 (+92.0%), from €117,790 to €226,119
- Tangible fixed assets -€57,163
down €57,163 (-33.4%), from €171,223 to €114,059
of which Furniture and vehicles: -€56,749
- Deferred charges and accrued income -€23,104
down €23,104 (-19.5%), from €118,562 to €95,458
- Reserves +€210,518
up €210,518 (+80.3%), from €262,060 to €472,578
- Debts after one year -€71,312
down €71,312 (-38.2%), from €186,798 to €115,485
- Tax, wage and social debts +€65,281
up €65,281 (+414%), from €15,771 to €81,052
of which Taxes: +€53,612
- Current portion of long-term debt -€10,401
down €10,401 (-12.7%), from €81,713 to €71,312
- Gross operating margin +€194,826
up €194,826 (+41.0%), from €474,698 to €669,524
- Staff costs +€49,498
up €49,498 (+20.9%), from €237,346 to €286,845
- Taxes +€45,840
up €45,840 (+93.3%), from €49,120 to €94,961
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €586,652 | €787,131 | +€200,479 | +34.2% |
| Fixed assets | 21/28 | €171,733 | €114,891 | -€56,841 | -33.1% |
| Tangible fixed assets | 22/27 | €171,223 | €114,059 | -€57,163 | -33.4% |
| Plant, machinery and equipment | 23 | €13,694 | €13,280 | -€414 | -3.0% |
| Furniture and vehicles | 24 | €157,529 | €100,779 | -€56,749 | -36.0% |
| Financial fixed assets | 28 | €510 | €832 | +€322 | +63.1% |
| Current assets | 29/58 | €414,919 | €672,240 | +€257,321 | +62.0% |
| Stocks and contracts in progress | 3 | €117,790 | €226,119 | +€108,329 | +92.0% |
| Stocks | 30/36 | €117,790 | €226,119 | +€108,329 | +92.0% |
| Amounts receivable within one year | 40/41 | €50,642 | €227,744 | +€177,102 | +350% |
| Trade receivables | 40 | €33,524 | €219,008 | +€185,484 | +553% |
| Other amounts receivable | 41 | €17,118 | €8,737 | -€8,382 | -49.0% |
| Cash at bank and in hand | 54/58 | €127,926 | €122,919 | -€5,007 | -3.9% |
| Deferred charges and accrued income | 490/1 | €118,562 | €95,458 | -€23,104 | -19.5% |
| Total equity and liabilities | 10/49 | €586,652 | €787,131 | +€200,479 | +34.2% |
| Equity | 10/15 | €266,060 | €476,578 | +€210,518 | +79.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €262,060 | €472,578 | +€210,518 | +80.3% |
| Distributable reserves | 133 | €262,060 | €472,578 | +€210,518 | +80.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €320,592 | €310,553 | -€10,038 | -3.1% |
| Amounts payable after more than one year | 17 | €186,798 | €115,485 | -€71,312 | -38.2% |
| Financial debts | 170/4 | €186,798 | €115,485 | -€71,312 | -38.2% |
| Amounts payable within one year | 42/48 | €132,116 | €189,205 | +€57,089 | +43.2% |
| Current portion of amounts payable after more than one year | 42 | €81,713 | €71,312 | -€10,401 | -12.7% |
| Trade debts | 44 | €33,799 | €36,008 | +€2,209 | +6.5% |
| Suppliers | 440/4 | €33,799 | €36,008 | +€2,209 | +6.5% |
| Taxes, remuneration and social security | 45 | €15,771 | €81,052 | +€65,281 | +414% |
| Taxes | 450/3 | €2,120 | €55,732 | +€53,612 | +2,528% |
| Remuneration and social security | 454/9 | €13,651 | €25,320 | +€11,669 | +85.5% |
| Other amounts payable | 47/48 | €833 | €833 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,678 | €5,863 | +€4,185 | +249% |
| Non-recurring operating income | 76A | €0 | €168 | +€168 | |
| Remuneration, social security and pensions | 62 | €237,346 | €286,845 | +€49,498 | +20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,237 | €61,241 | +€4 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €145 | +€145 | |
| Other operating charges | 640/8 | €1,827 | €1,772 | -€55 | -3.0% |
| Gross operating margin | 9900 | €474,698 | €669,524 | +€194,826 | +41.0% |
| Operating profit (loss) | 9901 | €174,288 | €319,522 | +€145,235 | +83.3% |
| Financial income | 75/76B | €930 | €1,506 | +€576 | +61.9% |
| Recurring financial income | 75 | €930 | €1,506 | +€576 | +61.9% |
| Financial charges | 65/66B | €13,452 | €14,716 | +€1,265 | +9.4% |
| Recurring financial charges | 65 | €13,452 | €14,716 | +€1,265 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €161,765 | €306,311 | +€144,546 | +89.4% |
| Income taxes | 67/77 | €49,120 | €94,961 | +€45,840 | +93.3% |
| Profit (loss) for the period | 9904 | €112,645 | €211,351 | +€98,706 | +87.6% |
| Profit (loss) for the period to be appropriated | 9905 | €112,645 | €211,351 | +€98,706 | +87.6% |
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 21 October 2026 via checked.be.