Pragha Management: 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.
Pragha Management
Largest movements
- Current investments +€159,079
new in 2025: €159,079
- Cash -€128,476
down €128,476 (-78.8%), from €162,951 to €34,475
mainly Current investments (-€159,079) and Contributions, distributions and other (-€75,000)
- Receivables within one year +€66,424
up €66,424 (+549%), from €12,100 to €78,524
of which Trade receivables: +€66,005
- Deferred charges and accrued income +€5,679
up €5,679 (+2,408%), from €236 to €5,915
- Other debts +€116,647
up €116,647 (+922%), from €12,650 to €129,298
- Profit (loss) carried forward -€75,000
down €75,000 (-53.1%), from €141,125 to €66,125
- Reserves +€51,546
new in 2025: €51,546
- Trade debts +€12,536
up €12,536 (+395%), from €3,171 to €15,707
- Taxes -€14,124
down €14,124, from €10,922 to -€3,202
- Gross operating margin -€5,332
down €5,332 (-9.9%), from €54,018 to €48,687
- Financial income +€2,120
up €2,120 (+605,769%), from €0 to €2,121
- Financial charges +€774
up €774 (+459%), from €169 to €943
- Depreciation +€549
up €549 (+104%), from €527 to €1,076
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 | €176,867 | €281,140 | +€104,273 | +59.0% |
| Fixed assets | 21/28 | €1,581 | €3,147 | +€1,567 | +99.1% |
| Tangible fixed assets | 22/27 | €1,581 | €3,147 | +€1,567 | +99.1% |
| Furniture and vehicles | 24 | €1,581 | €3,147 | +€1,567 | +99.1% |
| Current assets | 29/58 | €175,287 | €277,993 | +€102,706 | +58.6% |
| Amounts receivable within one year | 40/41 | €12,100 | €78,524 | +€66,424 | +549% |
| Trade receivables | 40 | €12,100 | €78,105 | +€66,005 | +545% |
| Other amounts receivable | 41 | - | €419 | +€419 | |
| Current investments | 50/53 | - | €159,079 | +€159,079 | |
| Cash at bank and in hand | 54/58 | €162,951 | €34,475 | -€128,476 | -78.8% |
| Deferred charges and accrued income | 490/1 | €236 | €5,915 | +€5,679 | +2,408% |
| Total equity and liabilities | 10/49 | €176,867 | €281,140 | +€104,273 | +59.0% |
| Equity | 10/15 | €151,125 | €127,671 | -€23,454 | -15.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €51,546 | +€51,546 | |
| Distributable reserves | 133 | - | €51,546 | +€51,546 | |
| Profit (loss) carried forward | 14 | €141,125 | €66,125 | -€75,000 | -53.1% |
| Amounts payable | 17/49 | €25,742 | €153,469 | +€127,726 | +496% |
| Amounts payable within one year | 42/48 | €25,742 | €153,469 | +€127,726 | +496% |
| Trade debts | 44 | €3,171 | €15,707 | +€12,536 | +395% |
| Suppliers | 440/4 | €3,171 | €15,707 | +€12,536 | +395% |
| Taxes, remuneration and social security | 45 | €9,921 | €8,464 | -€1,457 | -14.7% |
| Taxes | 450/3 | €7,023 | €5,546 | -€1,477 | -21.0% |
| Remuneration and social security | 454/9 | €2,898 | €2,919 | +€20 | +0.7% |
| Other amounts payable | 47/48 | €12,650 | €129,298 | +€116,647 | +922% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €527 | €1,076 | +€549 | +104% |
| Other operating charges | 640/8 | €441 | €444 | +€4 | +0.8% |
| Gross operating margin | 9900 | €54,018 | €48,687 | -€5,332 | -9.9% |
| Operating profit (loss) | 9901 | €53,050 | €47,166 | -€5,884 | -11.1% |
| Financial income | 75/76B | €0 | €2,121 | +€2,120 | +605,769% |
| Recurring financial income | 75 | €0 | €2,121 | +€2,120 | +605,769% |
| Financial charges | 65/66B | €169 | €943 | +€774 | +459% |
| Recurring financial charges | 65 | €169 | €943 | +€774 | +459% |
| Profit (loss) for the period before taxes | 9903 | €52,882 | €48,344 | -€4,538 | -8.6% |
| Income taxes | 67/77 | €10,922 | -€3,202 | -€14,124 | |
| Profit (loss) for the period | 9904 | €41,960 | €51,546 | +€9,586 | +22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €41,960 | €51,546 | +€9,586 | +22.8% |
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.