PNOGUES: 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.
PNOGUES
Largest movements
- Current investments +€90,176
up €90,176 (+138%), from €65,162 to €155,338
- Tangible fixed assets -€21,202
down €21,202 (-9.2%), from €229,461 to €208,259
of which Land and buildings: -€20,567
- Cash -€13,401
down €13,401 (-14.6%), from €92,007 to €78,607
mainly Contributions, distributions and other (-€93,799) and Current investments (-€90,176)
- Reserves +€27,974
up €27,974 (+8.8%), from €317,159 to €345,133
of which Distributable reserves: +€27,974
- Other debts +€20,273
up €20,273 (+54.5%), from €37,192 to €57,465
- Tax, wage and social debts +€5,838
up €5,838 (+27.6%), from €21,132 to €26,971
of which Taxes: +€7,789
- Gross operating margin +€32,689
up €32,689 (+19.8%), from €165,247 to €197,936
- Taxes +€13,110
up €13,110 (+32.4%), from €40,442 to €53,552
- Other operating charges -€6,375
down €6,375 (-80.5%), from €7,918 to €1,543
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 | €390,129 | €444,843 | +€54,714 | +14.0% |
| Fixed assets | 21/28 | €229,461 | €208,259 | -€21,202 | -9.2% |
| Tangible fixed assets | 22/27 | €229,461 | €208,259 | -€21,202 | -9.2% |
| Land and buildings | 22 | €227,105 | €206,538 | -€20,567 | -9.1% |
| Plant, machinery and equipment | 23 | €1,360 | €1,012 | -€348 | -25.6% |
| Furniture and vehicles | 24 | €996 | €709 | -€287 | -28.8% |
| Current assets | 29/58 | €160,668 | €236,585 | +€75,916 | +47.3% |
| Amounts receivable within one year | 40/41 | €2,649 | €1,377 | -€1,272 | -48.0% |
| Trade receivables | 40 | - | €1,377 | +€1,377 | |
| Other amounts receivable | 41 | €2,649 | - | -€2,649 | |
| Current investments | 50/53 | €65,162 | €155,338 | +€90,176 | +138% |
| Cash at bank and in hand | 54/58 | €92,007 | €78,607 | -€13,401 | -14.6% |
| Deferred charges and accrued income | 490/1 | €850 | €1,263 | +€413 | +48.5% |
| Total equity and liabilities | 10/49 | €390,129 | €444,843 | +€54,714 | +14.0% |
| Equity | 10/15 | €329,559 | €357,533 | +€27,974 | +8.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €317,159 | €345,133 | +€27,974 | +8.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €315,299 | €343,273 | +€27,974 | +8.9% |
| Amounts payable | 17/49 | €60,570 | €87,310 | +€26,740 | +44.1% |
| Amounts payable within one year | 42/48 | €60,570 | €87,310 | +€26,740 | +44.1% |
| Trade debts | 44 | €2,246 | €2,874 | +€629 | +28.0% |
| Suppliers | 440/4 | €2,246 | €2,874 | +€629 | +28.0% |
| Taxes, remuneration and social security | 45 | €21,132 | €26,971 | +€5,838 | +27.6% |
| Taxes | 450/3 | €19,182 | €26,971 | +€7,789 | +40.6% |
| Remuneration and social security | 454/9 | €1,951 | - | -€1,951 | |
| Other amounts payable | 47/48 | €37,192 | €57,465 | +€20,273 | +54.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,202 | €21,202 | = | 0.0% |
| Other operating charges | 640/8 | €7,918 | €1,543 | -€6,375 | -80.5% |
| Gross operating margin | 9900 | €165,247 | €197,936 | +€32,689 | +19.8% |
| Operating profit (loss) | 9901 | €136,127 | €175,190 | +€39,064 | +28.7% |
| Financial income | 75/76B | €118 | €252 | +€134 | +113% |
| Recurring financial income | 75 | €118 | €252 | +€134 | +113% |
| Financial charges | 65/66B | €136 | €117 | -€20 | -14.6% |
| Recurring financial charges | 65 | €136 | €117 | -€20 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €136,108 | €175,325 | +€39,217 | +28.8% |
| Income taxes | 67/77 | €40,442 | €53,552 | +€13,110 | +32.4% |
| Profit (loss) for the period | 9904 | €95,666 | €121,773 | +€26,107 | +27.3% |
| Profit (loss) for the period to be appropriated | 9905 | €95,666 | €121,773 | +€26,107 | +27.3% |
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 15 October 2026 via checked.be.