PMGBD: 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.
PMGBD
Largest movements
- Receivables within one year -€100,796
down €100,796 (-61.1%), from €164,844 to €64,048
of which Trade receivables: -€100,834
- Tangible fixed assets -€51,075
down €51,075 (-41.1%), from €124,177 to €73,102
of which Furniture and vehicles: -€39,858
- Cash -€42,626
down €42,626 (-15.6%), from €273,946 to €231,320
mainly Net result for the year (-€137,536) and Tax, wage and social debts (-€31,901)
- Profit (loss) carried forward -€137,536
down €137,536 (-31.9%), from €431,655 to €294,119
- Tax, wage and social debts -€31,901
down €31,901 (-45.3%), from €70,417 to €38,516
of which Taxes: -€27,057
- Trade debts -€24,640
down €24,640 (-52.8%), from €46,634 to €21,994
- Gross operating margin -€133,486
down €133,486 (-18.8%), from €708,150 to €574,664
- Staff costs -€42,516
down €42,516 (-6.1%), from €697,450 to €654,934
- Depreciation -€9,549
down €9,549 (-22.8%), from €41,888 to €32,339
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 | €568,839 | €374,761 | -€194,077 | -34.1% |
| Fixed assets | 21/28 | €124,177 | €73,102 | -€51,075 | -41.1% |
| Tangible fixed assets | 22/27 | €124,177 | €73,102 | -€51,075 | -41.1% |
| Plant, machinery and equipment | 23 | €55,369 | €44,152 | -€11,217 | -20.3% |
| Furniture and vehicles | 24 | €68,808 | €28,950 | -€39,858 | -57.9% |
| Current assets | 29/58 | €444,662 | €301,659 | -€143,003 | -32.2% |
| Amounts receivable within one year | 40/41 | €164,844 | €64,048 | -€100,796 | -61.1% |
| Trade receivables | 40 | €164,761 | €63,927 | -€100,834 | -61.2% |
| Other amounts receivable | 41 | €83 | €121 | +€38 | +45.7% |
| Cash at bank and in hand | 54/58 | €273,946 | €231,320 | -€42,626 | -15.6% |
| Deferred charges and accrued income | 490/1 | €5,872 | €6,291 | +€419 | +7.1% |
| Total equity and liabilities | 10/49 | €568,839 | €374,761 | -€194,077 | -34.1% |
| Equity | 10/15 | €451,787 | €314,251 | -€137,536 | -30.4% |
| Reserves | 13 | €20,132 | €20,132 | = | 0.0% |
| Profit (loss) carried forward | 14 | €431,655 | €294,119 | -€137,536 | -31.9% |
| Amounts payable | 17/49 | €117,051 | €60,510 | -€56,541 | -48.3% |
| Amounts payable within one year | 42/48 | €117,051 | €60,510 | -€56,541 | -48.3% |
| Trade debts | 44 | €46,634 | €21,994 | -€24,640 | -52.8% |
| Suppliers | 440/4 | €46,634 | €21,994 | -€24,640 | -52.8% |
| Taxes, remuneration and social security | 45 | €70,417 | €38,516 | -€31,901 | -45.3% |
| Taxes | 450/3 | €65,573 | €38,516 | -€27,057 | -41.3% |
| Remuneration and social security | 454/9 | €4,844 | - | -€4,844 | |
| Remuneration, social security and pensions | 62 | €697,450 | €654,934 | -€42,516 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,888 | €32,339 | -€9,549 | -22.8% |
| Other operating charges | 640/8 | €6,955 | €5,949 | -€1,006 | -14.5% |
| Non-recurring operating charges | 66A | - | €18,736 | +€18,736 | |
| Gross operating margin | 9900 | €708,150 | €574,664 | -€133,486 | -18.8% |
| Operating profit (loss) | 9901 | -€38,143 | -€137,294 | -€99,151 | -259.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | +25.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +25.0% |
| Financial charges | 65/66B | €482 | €243 | -€240 | -49.6% |
| Recurring financial charges | 65 | €482 | €243 | -€240 | -49.6% |
| Profit (loss) for the period before taxes | 9903 | -€38,625 | -€137,536 | -€98,911 | -256.1% |
| Profit (loss) for the period | 9904 | -€38,625 | -€137,536 | -€98,911 | -256.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,625 | -€137,536 | -€98,911 | -256.1% |
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 2 October 2026 via checked.be.