PMGD BW: 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.
PMGD BW
Largest movements
- Receivables within one year +€25,704
up €25,704 (+59.2%), from €43,414 to €69,117
of which Trade receivables: +€18,150
- Cash -€10,127
down €10,127 (-12.9%), from €78,809 to €68,682
mainly Receivables within one year (-€25,704) and Tax, wage and social debts (-€18,033)
- Reserves +€35,624
up €35,624 (+39.9%), from €89,251 to €124,875
- Tax, wage and social debts -€18,033
down €18,033 (-63.9%), from €28,218 to €10,185
- Trade debts -€2,015
down €2,015 (-73.2%), from €2,754 to €739
- Gross operating margin +€1,063
up €1,063 (+2.2%), from €48,600 to €49,662
- Other operating charges +€815
up €815 (+190.8%), from €427 to €1,243
- Taxes +€511
up €511 (+3.5%), from €14,613 to €15,124
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 | €122,222 | €137,799 | +€15,577 | +12.7% |
| Current assets | 29/58 | €122,222 | €137,799 | +€15,577 | +12.7% |
| Amounts receivable within one year | 40/41 | €43,414 | €69,117 | +€25,704 | +59.2% |
| Trade receivables | 40 | - | €18,150 | +€18,150 | |
| Other amounts receivable | 41 | €43,414 | €50,967 | +€7,554 | +17.4% |
| Cash at bank and in hand | 54/58 | €78,809 | €68,682 | -€10,127 | -12.9% |
| Total equity and liabilities | 10/49 | €122,222 | €137,799 | +€15,577 | +12.7% |
| Equity | 10/15 | €91,251 | €126,875 | +€35,624 | +39.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €89,251 | €124,875 | +€35,624 | +39.9% |
| Distributable reserves | 133 | €89,251 | €124,875 | +€35,624 | +39.9% |
| Amounts payable | 17/49 | €30,971 | €10,924 | -€20,047 | -64.7% |
| Amounts payable within one year | 42/48 | €30,971 | €10,924 | -€20,047 | -64.7% |
| Trade debts | 44 | €2,754 | €739 | -€2,015 | -73.2% |
| Suppliers | 440/4 | €2,754 | €739 | -€2,015 | -73.2% |
| Taxes, remuneration and social security | 45 | €28,218 | €10,185 | -€18,033 | -63.9% |
| Taxes | 450/3 | €28,218 | €10,185 | -€18,033 | -63.9% |
| Other operating charges | 640/8 | €427 | €1,243 | +€815 | +190.8% |
| Gross operating margin | 9900 | €48,600 | €49,662 | +€1,063 | +2.2% |
| Operating profit (loss) | 9901 | €48,172 | €48,420 | +€247 | +0.5% |
| Financial income | 75/76B | €2,234 | €2,478 | +€244 | +10.9% |
| Recurring financial income | 75 | €2,234 | €2,478 | +€244 | +10.9% |
| Financial charges | 65/66B | €77 | €150 | +€74 | +96.3% |
| Recurring financial charges | 65 | €77 | €150 | +€74 | +96.3% |
| Profit (loss) for the period before taxes | 9903 | €50,329 | €50,748 | +€418 | +0.8% |
| Income taxes | 67/77 | €14,613 | €15,124 | +€511 | +3.5% |
| Profit (loss) for the period | 9904 | €35,716 | €35,624 | -€92 | -0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €35,716 | €35,624 | -€92 | -0.3% |
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 30 September 2026 via checked.be.