Pragmatic Code Solutions: 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.
Pragmatic Code Solutions
Largest movements
- Cash +€49,698
up €49,698 (+106%), from €47,002 to €96,701
mainly Net result for the year (+€33,104) and Depreciation (+€13,580)
- Tangible fixed assets -€10,080
down €10,080 (-28.5%), from €35,326 to €25,246
- Receivables within one year +€5,911
up €5,911 (+28.8%), from €20,526 to €26,436
of which Trade receivables: +€5,911
- Intangible fixed assets -€3,500
down €3,500 (-11.3%), from €30,917 to €27,417
- Reserves +€32,000
up €32,000 (+229%), from €14,000 to €46,000
- Other debts +€5,079
up €5,079 (+5.2%), from €97,344 to €102,423
- Tax, wage and social debts +€4,561
up €4,561 (+25.0%), from €18,238 to €22,799
- Gross operating margin +€18,118
up €18,118 (+41.1%), from €44,128 to €62,246
- Taxes +€6,543
up €6,543 (+100%), from €6,520 to €13,063
- Depreciation -€4,777
down €4,777 (-26.0%), from €18,357 to €13,580
- Other operating charges -€2,846
down €2,846 (-75.3%), from €3,780 to €934
- Financial charges +€937
up €937 (+149%), from €628 to €1,565
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 | €136,259 | €178,411 | +€42,152 | +30.9% |
| Fixed assets | 21/28 | €66,243 | €52,663 | -€13,580 | -20.5% |
| Intangible fixed assets | 21 | €30,917 | €27,417 | -€3,500 | -11.3% |
| Tangible fixed assets | 22/27 | €35,326 | €25,246 | -€10,080 | -28.5% |
| Furniture and vehicles | 24 | €35,326 | €25,246 | -€10,080 | -28.5% |
| Current assets | 29/58 | €70,016 | €125,748 | +€55,732 | +79.6% |
| Amounts receivable within one year | 40/41 | €20,526 | €26,436 | +€5,911 | +28.8% |
| Trade receivables | 40 | €20,520 | €26,431 | +€5,911 | +28.8% |
| Other amounts receivable | 41 | €5 | €5 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €47,002 | €96,701 | +€49,698 | +106% |
| Deferred charges and accrued income | 490/1 | €2,488 | €2,611 | +€123 | +4.9% |
| Total equity and liabilities | 10/49 | €136,259 | €178,411 | +€42,152 | +30.9% |
| Equity | 10/15 | €20,043 | €52,314 | +€32,271 | +161% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €14,000 | €46,000 | +€32,000 | +229% |
| Distributable reserves | 133 | €14,000 | €46,000 | +€32,000 | +229% |
| Profit (loss) carried forward | 14 | €43 | €314 | +€271 | +634% |
| Amounts payable | 17/49 | €116,216 | €126,097 | +€9,881 | +8.5% |
| Amounts payable within one year | 42/48 | €116,216 | €126,097 | +€9,881 | +8.5% |
| Trade debts | 44 | €635 | €875 | +€240 | +37.9% |
| Suppliers | 440/4 | €635 | €875 | +€240 | +37.9% |
| Taxes, remuneration and social security | 45 | €18,238 | €22,799 | +€4,561 | +25.0% |
| Taxes | 450/3 | €18,238 | €22,799 | +€4,561 | +25.0% |
| Other amounts payable | 47/48 | €97,344 | €102,423 | +€5,079 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,357 | €13,580 | -€4,777 | -26.0% |
| Other operating charges | 640/8 | €3,780 | €934 | -€2,846 | -75.3% |
| Gross operating margin | 9900 | €44,128 | €62,246 | +€18,118 | +41.1% |
| Operating profit (loss) | 9901 | €21,991 | €47,733 | +€25,741 | +117% |
| Financial charges | 65/66B | €628 | €1,565 | +€937 | +149% |
| Recurring financial charges | 65 | €628 | €1,565 | +€937 | +149% |
| Profit (loss) for the period before taxes | 9903 | €21,363 | €46,167 | +€24,804 | +116% |
| Income taxes | 67/77 | €6,520 | €13,063 | +€6,543 | +100% |
| Profit (loss) for the period | 9904 | €14,843 | €33,104 | +€18,261 | +123% |
| Profit (loss) for the period to be appropriated | 9905 | €14,843 | €33,104 | +€18,261 | +123% |
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.