PRAGMATS: 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.
PRAGMATS
Largest movements
- Current investments +€24,582
up €24,582 (+9.2%), from €267,980 to €292,562
- Tangible fixed assets -€9,544
down €9,544 (-37.5%), from €25,421 to €15,876
- Reserves +€46,747
up €46,747 (+14.9%), from €314,752 to €361,499
- Other debts -€33,689
down €33,689 (-98.5%), from €34,213 to €524
- Gross operating margin -€14,170
down €14,170 (-17.8%), from €79,669 to €65,499
- Financial income -€12,746
down €12,746 (-45.2%), from €28,226 to €15,481
- Taxes -€5,010
down €5,010 (-23.2%), from €21,594 to €16,584
- Financial charges +€3,959
up €3,959 (+496.8%), from €797 to €4,756
- Depreciation -€2,424
down €2,424 (-18.0%), from €13,462 to €11,039
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.
Cash bridge derived
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 | €385,082 | €399,004 | +€13,922 | +3.6% |
| Fixed assets | 21/28 | €25,421 | €15,876 | -€9,544 | -37.5% |
| Tangible fixed assets | 22/27 | €25,421 | €15,876 | -€9,544 | -37.5% |
| Furniture and vehicles | 24 | €25,421 | €15,876 | -€9,544 | -37.5% |
| Current assets | 29/58 | €359,662 | €383,128 | +€23,466 | +6.5% |
| Amounts receivable within one year | 40/41 | €30,051 | €31,115 | +€1,064 | +3.5% |
| Trade receivables | 40 | €27,951 | €25,955 | -€1,997 | -7.1% |
| Other amounts receivable | 41 | €2,100 | €5,161 | +€3,060 | +145.7% |
| Current investments | 50/53 | €267,980 | €292,562 | +€24,582 | +9.2% |
| Cash at bank and in hand | 54/58 | €60,273 | €57,131 | -€3,142 | -5.2% |
| Deferred charges and accrued income | 490/1 | €1,357 | €2,319 | +€963 | +71.0% |
| Total equity and liabilities | 10/49 | €385,082 | €399,004 | +€13,922 | +3.6% |
| Equity | 10/15 | €338,206 | €386,119 | +€47,913 | +14.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €314,752 | €361,499 | +€46,747 | +14.9% |
| Distributable reserves | 133 | €314,752 | €361,499 | +€46,747 | +14.9% |
| Profit (loss) carried forward | 14 | €4,904 | €6,070 | +€1,166 | +23.8% |
| Amounts payable | 17/49 | €46,876 | €12,885 | -€33,991 | -72.5% |
| Amounts payable within one year | 42/48 | €46,876 | €12,691 | -€34,185 | -72.9% |
| Trade debts | 44 | €3,858 | €3,989 | +€131 | +3.4% |
| Suppliers | 440/4 | €3,858 | €3,989 | +€131 | +3.4% |
| Taxes, remuneration and social security | 45 | €8,805 | €8,179 | -€627 | -7.1% |
| Taxes | 450/3 | €8,805 | €8,179 | -€627 | -7.1% |
| Other amounts payable | 47/48 | €34,213 | €524 | -€33,689 | -98.5% |
| Accrued charges and deferred income | 492/3 | - | €194 | +€194 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,462 | €11,039 | -€2,424 | -18.0% |
| Other operating charges | 640/8 | €761 | €689 | -€73 | -9.5% |
| Gross operating margin | 9900 | €79,669 | €65,499 | -€14,170 | -17.8% |
| Operating profit (loss) | 9901 | €65,445 | €53,772 | -€11,673 | -17.8% |
| Financial income | 75/76B | €28,226 | €15,481 | -€12,746 | -45.2% |
| Recurring financial income | 75 | €28,226 | €15,481 | -€12,746 | -45.2% |
| Financial charges | 65/66B | €797 | €4,756 | +€3,959 | +496.8% |
| Recurring financial charges | 65 | €797 | €4,756 | +€3,959 | +496.8% |
| Profit (loss) for the period before taxes | 9903 | €92,875 | €64,497 | -€28,378 | -30.6% |
| Income taxes | 67/77 | €21,594 | €16,584 | -€5,010 | -23.2% |
| Profit (loss) for the period | 9904 | €71,280 | €47,913 | -€23,367 | -32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €71,280 | €47,913 | -€23,367 | -32.8% |
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 10 October 2026 via checked.be.