POGAM: 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.
POGAM
Largest movements
- Financial fixed assets +€18.6m
up €18.6m (+2694.9%), from €690,248 to €19.3m
- Current investments -€14.8m
down €14.8m (-51.3%), from €28.8m to €14.0m
- Receivables within one year -€2.7m
down €2.7m (-90.1%), from €3.0m to €292,473
of which Other amounts receivable: -€2.7m
- Receivables after one year -€1.8m
down €1.8m (-19.8%), from €9.1m to €7.3m
of which Trade receivables: -€1.9m
- Cash +€1.7m
up €1.7m (+121.1%), from €1.4m to €3.1m
mainly Current investments (+€14.8m) and Receivables within one year (+€2.7m)
- Reserves +€1.3m
up €1.3m (+3.3%), from €38.1m to €39.4m
of which Distributable reserves: +€1.3m
- Financial income -€1.3m
down €1.3m (-44.5%), from €3.0m to €1.7m
- Taxes +€125,568
up €125,568, from €0 to €125,568
- Staff costs -€70,669
down €70,669 (-24.0%), from €294,843 to €224,174
- Financial charges -€55,825
down €55,825 (-25.8%), from €216,650 to €160,825
- Gross operating margin -€42,745
down €42,745 (-24.7%), from €172,740 to €129,995
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €42,982,004 | €44,024,606 | +€1.0m | +2.4% |
| Fixed assets | 21/28 | €690,248 | €19,294,839 | +€18.6m | +2695.3% |
| Tangible fixed assets | 22/27 | - | €2,942 | +€2,942 | |
| Plant, machinery and equipment | 23 | - | €2,150 | +€2,150 | |
| Furniture and vehicles | 24 | - | €793 | +€793 | |
| Financial fixed assets | 28 | €690,248 | €19,291,897 | +€18.6m | +2694.9% |
| Current assets | 29/58 | €42,291,756 | €24,729,767 | -€17.6m | -41.5% |
| Amounts receivable after more than one year | 29 | €9,113,577 | €7,307,828 | -€1.8m | -19.8% |
| Trade receivables | 290 | €1,875,001 | €0 | -€1.9m | -100.0% |
| Other amounts receivable | 291 | €7,238,576 | €7,307,828 | +€69,252 | +1.0% |
| Amounts receivable within one year | 40/41 | €2,966,793 | €292,473 | -€2.7m | -90.1% |
| Trade receivables | 40 | €57,788 | €60,866 | +€3,078 | +5.3% |
| Other amounts receivable | 41 | €2,909,005 | €231,607 | -€2.7m | -92.0% |
| Current investments | 50/53 | €28,818,609 | €14,048,672 | -€14.8m | -51.3% |
| Cash at bank and in hand | 54/58 | €1,392,746 | €3,080,026 | +€1.7m | +121.1% |
| Deferred charges and accrued income | 490/1 | €32 | €769 | +€737 | +2340.3% |
| Total equity and liabilities | 10/49 | €42,982,004 | €44,024,606 | +€1.0m | +2.4% |
| Equity | 10/15 | €40,537,529 | €41,806,534 | +€1.3m | +3.1% |
| Contributions | 10/11 | €2,430,000 | €2,430,000 | = | 0.0% |
| Capital | 10 | €2,430,000 | €2,430,000 | = | 0.0% |
| Issued capital | 100 | €2,430,000 | €2,430,000 | = | 0.0% |
| Reserves | 13 | €38,107,529 | €39,376,534 | +€1.3m | +3.3% |
| Non-distributable reserves | 130/1 | €243,000 | €243,000 | = | 0.0% |
| Legal reserve | 130 | €243,000 | €243,000 | = | 0.0% |
| Distributable reserves | 133 | €37,864,529 | €39,133,534 | +€1.3m | +3.4% |
| Amounts payable | 17/49 | €2,444,475 | €2,218,072 | -€226,404 | -9.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,254,083 | €2,000,698 | -€253,385 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €297,619 | €0 | -€297,619 | -100.0% |
| Financial debts | 43 | €1,900,000 | €1,900,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,900,000 | €1,900,000 | = | 0.0% |
| Trade debts | 44 | €7,930 | €20,390 | +€12,460 | +157.1% |
| Suppliers | 440/4 | €7,930 | €20,390 | +€12,460 | +157.1% |
| Taxes, remuneration and social security | 45 | €48,533 | €66,092 | +€17,559 | +36.2% |
| Taxes | 450/3 | €15,185 | €18,731 | +€3,547 | +23.4% |
| Remuneration and social security | 454/9 | €33,348 | €47,361 | +€14,013 | +42.0% |
| Other amounts payable | 47/48 | - | €14,215 | +€14,215 | |
| Accrued charges and deferred income | 492/3 | €190,392 | €217,374 | +€26,982 | +14.2% |
| Remuneration, social security and pensions | 62 | €294,843 | €224,174 | -€70,669 | -24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €202 | +€202 | |
| Other operating charges | 640/8 | €6,815 | €6,000 | -€815 | -12.0% |
| Gross operating margin | 9900 | €172,740 | €129,995 | -€42,745 | -24.7% |
| Operating profit (loss) | 9901 | -€128,918 | -€100,380 | +€28,537 | +22.1% |
| Financial income | 75/76B | €2,982,783 | €1,655,779 | -€1.3m | -44.5% |
| Recurring financial income | 75 | €2,982,783 | €1,655,779 | -€1.3m | -44.5% |
| Financial charges | 65/66B | €216,650 | €160,825 | -€55,825 | -25.8% |
| Recurring financial charges | 65 | €216,650 | €160,825 | -€55,825 | -25.8% |
| Profit (loss) for the period before taxes | 9903 | €2,637,215 | €1,394,574 | -€1.2m | -47.1% |
| Income taxes | 67/77 | €0 | €125,568 | +€125,568 | |
| Profit (loss) for the period | 9904 | €2,637,215 | €1,269,006 | -€1.4m | -51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,637,215 | €1,269,006 | -€1.4m | -51.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 30 June 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.