PRAGMA-ITC: 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.
PRAGMA-ITC
Largest movements
- Current investments +€30,015
up €30,015 (+99.8%), from €30,083 to €60,097
- Cash +€23,506
up €23,506 (+516%), from €4,552 to €28,058
mainly Net result for the year (+€52,658) and Other debts (+€41,939)
- Tangible fixed assets -€9,684
down €9,684 (-3.3%), from €296,273 to €286,589
of which Land and buildings: -€26,485
- Receivables within one year -€6,338
down €6,338 (-12.3%), from €51,336 to €44,998
of which Trade receivables: -€6,330
- Other debts +€41,939
up €41,939 (+162%), from €25,967 to €67,906
- Tax, wage and social debts +€17,808
up €17,808 (+83.6%), from €21,312 to €39,119
- Debts after one year -€12,492
no longer reported in 2025 (was €12,492)
- Reserves -€11,000
down €11,000 (-3.9%), from €285,660 to €274,660
- Current portion of long-term debt -€8,675
down €8,675 (-41.0%), from €21,167 to €12,492
- Gross operating margin +€43,635
up €43,635 (+57.2%), from €76,272 to €119,907
- Taxes +€9,549
up €9,549 (+77.9%), from €12,262 to €21,811
- Depreciation +€8,818
up €8,818 (+30.0%), from €29,397 to €38,214
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 | €385,744 | €421,268 | +€35,524 | +9.2% |
| Fixed assets | 21/28 | €296,773 | €288,114 | -€8,658 | -2.9% |
| Tangible fixed assets | 22/27 | €296,273 | €286,589 | -€9,684 | -3.3% |
| Land and buildings | 22 | €293,075 | €266,590 | -€26,485 | -9.0% |
| Furniture and vehicles | 24 | €3,198 | €12,403 | +€9,205 | +288% |
| Other tangible fixed assets | 26 | - | €7,596 | +€7,596 | |
| Financial fixed assets | 28 | €500 | €1,526 | +€1,026 | +205% |
| Current assets | 29/58 | €88,971 | €133,154 | +€44,182 | +49.7% |
| Amounts receivable within one year | 40/41 | €51,336 | €44,998 | -€6,338 | -12.3% |
| Trade receivables | 40 | €51,328 | €44,998 | -€6,330 | -12.3% |
| Other amounts receivable | 41 | €8 | - | -€8 | |
| Current investments | 50/53 | €30,083 | €60,097 | +€30,015 | +99.8% |
| Cash at bank and in hand | 54/58 | €4,552 | €28,058 | +€23,506 | +516% |
| Deferred charges and accrued income | 490/1 | €3,000 | - | -€3,000 | |
| Total equity and liabilities | 10/49 | €385,744 | €421,268 | +€35,524 | +9.2% |
| Equity | 10/15 | €301,372 | €290,531 | -€10,842 | -3.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €285,660 | €274,660 | -€11,000 | -3.9% |
| Distributable reserves | 133 | €285,660 | €274,660 | -€11,000 | -3.9% |
| Profit (loss) carried forward | 14 | €3,312 | €3,471 | +€158 | +4.8% |
| Amounts payable | 17/49 | €84,371 | €130,737 | +€46,366 | +55.0% |
| Amounts payable after more than one year | 17 | €12,492 | - | -€12,492 | |
| Financial debts | 170/4 | €12,492 | - | -€12,492 | |
| Amounts payable within one year | 42/48 | €69,537 | €128,395 | +€58,858 | +84.6% |
| Current portion of amounts payable after more than one year | 42 | €21,167 | €12,492 | -€8,675 | -41.0% |
| Trade debts | 44 | €1,091 | €8,878 | +€7,787 | +713% |
| Suppliers | 440/4 | €1,091 | €8,878 | +€7,787 | +713% |
| Taxes, remuneration and social security | 45 | €21,312 | €39,119 | +€17,808 | +83.6% |
| Taxes | 450/3 | €21,312 | €39,119 | +€17,808 | +83.6% |
| Other amounts payable | 47/48 | €25,967 | €67,906 | +€41,939 | +162% |
| Accrued charges and deferred income | 492/3 | €2,342 | €2,342 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,397 | €38,214 | +€8,818 | +30.0% |
| Other operating charges | 640/8 | €6,540 | €6,841 | +€301 | +4.6% |
| Gross operating margin | 9900 | €76,272 | €119,907 | +€43,635 | +57.2% |
| Operating profit (loss) | 9901 | €40,336 | €74,852 | +€34,516 | +85.6% |
| Financial income | 75/76B | €149 | €214 | +€65 | +43.9% |
| Recurring financial income | 75 | €149 | €214 | +€65 | +43.9% |
| Financial charges | 65/66B | €1,201 | €596 | -€604 | -50.3% |
| Recurring financial charges | 65 | €1,201 | €596 | -€604 | -50.3% |
| Profit (loss) for the period before taxes | 9903 | €39,284 | €74,470 | +€35,185 | +89.6% |
| Income taxes | 67/77 | €12,262 | €21,811 | +€9,549 | +77.9% |
| Profit (loss) for the period | 9904 | €27,022 | €52,658 | +€25,636 | +94.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,022 | €52,658 | +€25,636 | +94.9% |
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 14 October 2026 via checked.be.