Pogany: 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.
What changed
Pogany
NACE 47.770, Retail sale of watches and jewellery
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€12,034
2024 · €108,292-€96,258
Equity
€2.8m
2024 · €2.8m+€12,034
Cash
€178,788
2024 · €164,035+€14,752
Balance sheet total
€3.0m
2024 · €3.0m-€41,690
Largest movements
Assets
- Tangible fixed assets -€45,313
down €45,313 (-10.5%), from €429,846 to €384,532
Equity and liabilities
- Other debts -€90,025
down €90,025 (-75.4%), from €119,450 to €29,424
- Trade debts +€35,010
up €35,010 (+113%), from €31,012 to €66,021
Income statement
- Gross operating margin -€119,518
down €119,518 (-71.8%), from €166,396 to €46,878
- Write-downs -€37,575
down €37,575, from €19,968 to -€17,607
- Financial charges -€3,727
down €3,727 (-36.1%), from €10,332 to €6,605
- Financial income -€2,078
down €2,078 (-6.2%), from €33,348 to €31,271
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.
Result 2024
€108,292
Gross operating margin
-€119,518
Depreciation
-€160
Write-downs
+€37,575
Other operating charges
-€73
Other operating items
-€15,742
Financial income
-€2,078
Financial charges
+€3,727
Taxes
+€10
Result 2025
€12,034
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€35,545
Investment
€0
Financing
-€20,793
Cash 2024
€164,035
From operations (derived)
+€35,545
Net result for the year
+€12,034
Depreciation
+€45,713
Stocks and contracts
-€10,359
Receivables within one year
+€27,843
Deferred charges and accrued income
-€6,755
Trade debts
+€35,010
Tax, wage and social debts
+€23,301
Other debts
-€90,025
Accrued charges and deferred income
-€1,216
Financing
-€20,793
Debts after one year
-€12,386
Current portion of long-term debt
-€8,407
Cash 2025
€178,788
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,992,150 | €2,950,460 | -€41,690 | -1.4% |
| Fixed assets | 21/28 | €430,806 | €385,093 | -€45,713 | -10.6% |
| Intangible fixed assets | 21 | €861 | €461 | -€400 | -46.5% |
| Tangible fixed assets | 22/27 | €429,846 | €384,532 | -€45,313 | -10.5% |
| Plant, machinery and equipment | 23 | €2,522 | €1,860 | -€662 | -26.3% |
| Furniture and vehicles | 24 | €95,458 | €72,958 | -€22,500 | -23.6% |
| Other tangible fixed assets | 26 | €331,866 | €309,715 | -€22,151 | -6.7% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €2,561,344 | €2,565,367 | +€4,023 | +0.2% |
| Stocks and contracts in progress | 3 | €1,614,051 | €1,624,410 | +€10,359 | +0.6% |
| Stocks | 30/36 | €1,614,051 | €1,624,410 | +€10,359 | +0.6% |
| Amounts receivable within one year | 40/41 | €744,384 | €716,541 | -€27,843 | -3.7% |
| Trade receivables | 40 | €11,750 | €4,250 | -€7,500 | -63.8% |
| Other amounts receivable | 41 | €732,634 | €712,291 | -€20,343 | -2.8% |
| Cash at bank and in hand | 54/58 | €164,035 | €178,788 | +€14,752 | +9.0% |
| Deferred charges and accrued income | 490/1 | €38,873 | €45,628 | +€6,755 | +17.4% |
| Total equity and liabilities | 10/49 | €2,992,150 | €2,950,460 | -€41,690 | -1.4% |
| Equity | 10/15 | €2,793,807 | €2,805,842 | +€12,034 | +0.4% |
| Contributions | 10/11 | €421,419 | €421,419 | = | 0.0% |
| Capital | 10 | €421,419 | €421,419 | = | 0.0% |
| Issued capital | 100 | €421,419 | €421,419 | = | 0.0% |
| Reserves | 13 | €2,372,343 | €2,384,343 | +€12,000 | +0.5% |
| Non-distributable reserves | 130/1 | €42,142 | €42,142 | = | 0.0% |
| Legal reserve | 130 | €42,142 | €42,142 | = | 0.0% |
| Tax-exempt reserves | 132 | €402 | €402 | = | 0.0% |
| Distributable reserves | 133 | €2,329,800 | €2,341,800 | +€12,000 | +0.5% |
| Profit (loss) carried forward | 14 | €45 | €79 | +€34 | +76.9% |
| Amounts payable | 17/49 | €198,343 | €144,618 | -€53,724 | -27.1% |
| Amounts payable after more than one year | 17 | €12,386 | - | -€12,386 | |
| Financial debts | 170/4 | €12,386 | - | -€12,386 | |
| Amounts payable within one year | 42/48 | €180,633 | €140,511 | -€40,122 | -22.2% |
| Current portion of amounts payable after more than one year | 42 | €20,793 | €12,386 | -€8,407 | -40.4% |
| Trade debts | 44 | €31,012 | €66,021 | +€35,010 | +113% |
| Suppliers | 440/4 | €31,012 | €66,021 | +€35,010 | +113% |
| Taxes, remuneration and social security | 45 | €9,378 | €32,679 | +€23,301 | +248% |
| Taxes | 450/3 | €9,378 | €32,679 | +€23,301 | +248% |
| Other amounts payable | 47/48 | €119,450 | €29,424 | -€90,025 | -75.4% |
| Accrued charges and deferred income | 492/3 | €5,324 | €4,107 | -€1,216 | -22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,554 | €45,713 | +€160 | +0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,968 | -€17,607 | -€37,575 | |
| Other operating charges | 640/8 | €2,425 | €2,498 | +€73 | +3.0% |
| Non-recurring operating charges | 66A | - | €15,742 | +€15,742 | |
| Gross operating margin | 9900 | €166,396 | €46,878 | -€119,518 | -71.8% |
| Operating profit (loss) | 9901 | €98,450 | €532 | -€97,918 | -99.5% |
| Financial income | 75/76B | €33,348 | €31,271 | -€2,078 | -6.2% |
| Recurring financial income | 75 | €33,348 | €31,271 | -€2,078 | -6.2% |
| Financial charges | 65/66B | €10,332 | €6,605 | -€3,727 | -36.1% |
| Recurring financial charges | 65 | €10,332 | €6,605 | -€3,727 | -36.1% |
| Profit (loss) for the period before taxes | 9903 | €121,467 | €25,198 | -€96,268 | -79.3% |
| Income taxes | 67/77 | €13,174 | €13,164 | -€10 | -0.1% |
| Profit (loss) for the period | 9904 | €108,292 | €12,034 | -€96,258 | -88.9% |
| Profit (loss) for the period to be appropriated | 9905 | €108,292 | €12,034 | -€96,258 | -88.9% |
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 18 October 2026 via checked.be.