PRAGMUS: 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.
PRAGMUS
Largest movements
- Tangible fixed assets -€14,104
down €14,104 (-3.2%), from €439,913 to €425,809
of which Land and buildings: -€14,733
- Cash -€10,676
down €10,676 (-42.7%), from €25,014 to €14,338
mainly Provisions (-€100,000) and Debts after one year (-€11,846)
- Receivables within one year +€6,931
up €6,931 (+23.3%), from €29,747 to €36,679
of which Trade receivables: +€9,677
- Provisions -€100,000
no longer reported in 2025 (was €100,000)
- Reserves +€66,359
up €66,359 (+54.6%), from €121,500 to €187,859
- Tax, wage and social debts +€30,774
up €30,774 (+1,124%), from €2,738 to €33,512
- Debts after one year -€11,846
down €11,846 (-62.3%), from €19,018 to €7,171
- Profit (loss) carried forward +€6,728
no longer reported in 2025 (was -€6,728)
- Provisions -€100,000
new in 2025: -€100,000
- Taxes +€28,478
up €28,478 (+7,408%), from €384 to €28,863
- Gross operating margin +€13,118
up €13,118 (+35.9%), from €36,561 to €49,679
- Depreciation -€3,288
down €3,288 (-16.7%), from €19,672 to €16,384
- Financial charges -€1,220
down €1,220 (-6.3%), from €19,501 to €18,282
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 | €513,284 | €496,051 | -€17,233 | -3.4% |
| Fixed assets | 21/28 | €439,913 | €425,809 | -€14,104 | -3.2% |
| Tangible fixed assets | 22/27 | €439,913 | €425,809 | -€14,104 | -3.2% |
| Land and buildings | 22 | €432,360 | €417,626 | -€14,733 | -3.4% |
| Plant, machinery and equipment | 23 | €7,553 | €8,183 | +€630 | +8.3% |
| Current assets | 29/58 | €73,371 | €70,242 | -€3,129 | -4.3% |
| Amounts receivable within one year | 40/41 | €29,747 | €36,679 | +€6,931 | +23.3% |
| Trade receivables | 40 | €27,002 | €36,679 | +€9,677 | +35.8% |
| Other amounts receivable | 41 | €2,745 | - | -€2,745 | |
| Cash at bank and in hand | 54/58 | €25,014 | €14,338 | -€10,676 | -42.7% |
| Deferred charges and accrued income | 490/1 | €18,610 | €19,225 | +€616 | +3.3% |
| Total equity and liabilities | 10/49 | €513,284 | €496,051 | -€17,233 | -3.4% |
| Equity | 10/15 | €114,772 | €187,859 | +€73,088 | +63.7% |
| Reserves | 13 | €121,500 | €187,859 | +€66,359 | +54.6% |
| Distributable reserves | 133 | €121,500 | €187,859 | +€66,359 | +54.6% |
| Profit (loss) carried forward | 14 | -€6,728 | - | +€6,728 | |
| Provisions and deferred taxes | 16 | €100,000 | - | -€100,000 | |
| Provisions for liabilities and charges | 160/5 | €100,000 | - | -€100,000 | |
| Pensions and similar obligations | 160 | €100,000 | - | -€100,000 | |
| Amounts payable | 17/49 | €298,512 | €308,192 | +€9,680 | +3.2% |
| Amounts payable after more than one year | 17 | €19,018 | €7,171 | -€11,846 | -62.3% |
| Financial debts | 170/4 | €19,018 | €7,171 | -€11,846 | -62.3% |
| Amounts payable within one year | 42/48 | €260,705 | €284,260 | +€23,555 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €14,518 | €12,887 | -€1,631 | -11.2% |
| Trade debts | 44 | €14,232 | €12,535 | -€1,697 | -11.9% |
| Suppliers | 440/4 | €14,232 | €12,535 | -€1,697 | -11.9% |
| Taxes, remuneration and social security | 45 | €2,738 | €33,512 | +€30,774 | +1,124% |
| Taxes | 450/3 | €2,738 | €33,512 | +€30,774 | +1,124% |
| Other amounts payable | 47/48 | €229,217 | €225,327 | -€3,890 | -1.7% |
| Accrued charges and deferred income | 492/3 | €18,789 | €16,760 | -€2,029 | -10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,672 | €16,384 | -€3,288 | -16.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€100,000 | -€100,000 | |
| Other operating charges | 640/8 | €4,003 | €4,065 | +€62 | +1.5% |
| Gross operating margin | 9900 | €36,561 | €49,679 | +€13,118 | +35.9% |
| Operating profit (loss) | 9901 | €12,886 | €129,230 | +€116,344 | +903% |
| Financial income | 75/76B | €65 | €2 | -€63 | -97.4% |
| Recurring financial income | 75 | €65 | €2 | -€63 | -97.4% |
| Financial charges | 65/66B | €19,501 | €18,282 | -€1,220 | -6.3% |
| Recurring financial charges | 65 | €19,501 | €18,282 | -€1,220 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,551 | €110,950 | +€117,501 | |
| Income taxes | 67/77 | €384 | €28,863 | +€28,478 | +7,408% |
| Profit (loss) for the period | 9904 | -€6,935 | €82,088 | +€89,022 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,935 | €82,088 | +€89,022 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.