Pygmaline: what changed
Two fiscal 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.
Pygmaline
Largest movements
- Cash -€21,845
down €21,845 (-84.9%), from €25,719 to €3,874
mainly Contributions, distributions and other (-€46,000) and Investment in fixed assets (net) (-€17,941)
- Tangible fixed assets +€14,972
up €14,972 (+1512.0%), from €990 to €15,963
of which Other tangible fixed assets: +€13,284
- Receivables within one year +€12,560
up €12,560 (+46.0%), from €27,331 to €39,891
of which Other amounts receivable: +€33,747
- Deferred charges and accrued income -€1,369
down €1,369 (-100.0%), from €1,369 to €0
- Other debts +€29,100
up €29,100 (+188.4%), from €15,445 to €44,545
- Profit (loss) carried forward -€28,065
down €28,065 (-32.7%), from €85,702 to €57,637
- Trade debts +€1,934
up €1,934 (+138.4%), from €1,398 to €3,331
- Tax, wage and social debts +€1,350
up €1,350 (+37.1%), from €3,640 to €4,990
of which Remuneration and social security: +€2,801
- Gross operating margin -€7,591
down €7,591 (-19.4%), from €39,156 to €31,565
- Other operating charges -€1,971
down €1,971 (-38.7%), from €5,088 to €3,117
- Depreciation +€1,803
up €1,803 (+154.6%), from €1,166 to €2,969
- Taxes +€1,032
up €1,032 (+17.1%), from €6,025 to €7,056
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 | €114,159 | €118,477 | +€4,318 | +3.8% |
| Fixed assets | 21/28 | €990 | €15,963 | +€14,972 | +1512.0% |
| Tangible fixed assets | 22/27 | €990 | €15,963 | +€14,972 | +1512.0% |
| Plant, machinery and equipment | 23 | €990 | - | -€990 | |
| Furniture and vehicles | 24 | - | €2,678 | +€2,678 | |
| Other tangible fixed assets | 26 | - | €13,284 | +€13,284 | |
| Current assets | 29/58 | €113,169 | €102,515 | -€10,654 | -9.4% |
| Amounts receivable after more than one year | 29 | €58,750 | €58,750 | = | 0.0% |
| Other amounts receivable | 291 | €58,750 | €58,750 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €27,331 | €39,891 | +€12,560 | +46.0% |
| Trade receivables | 40 | €22,758 | €1,572 | -€21,187 | -93.1% |
| Other amounts receivable | 41 | €4,573 | €38,320 | +€33,747 | +738.0% |
| Cash at bank and in hand | 54/58 | €25,719 | €3,874 | -€21,845 | -84.9% |
| Deferred charges and accrued income | 490/1 | €1,369 | €0 | -€1,369 | -100.0% |
| Total equity and liabilities | 10/49 | €114,159 | €118,477 | +€4,318 | +3.8% |
| Equity | 10/15 | €88,702 | €60,637 | -€28,065 | -31.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,702 | €57,637 | -€28,065 | -32.7% |
| Amounts payable | 17/49 | €25,457 | €57,841 | +€32,384 | +127.2% |
| Amounts payable within one year | 42/48 | €20,483 | €52,866 | +€32,384 | +158.1% |
| Trade debts | 44 | €1,398 | €3,331 | +€1,934 | +138.4% |
| Suppliers | 440/4 | €1,398 | €3,331 | +€1,934 | +138.4% |
| Taxes, remuneration and social security | 45 | €3,640 | €4,990 | +€1,350 | +37.1% |
| Taxes | 450/3 | €3,640 | €2,189 | -€1,451 | -39.9% |
| Remuneration and social security | 454/9 | - | €2,801 | +€2,801 | |
| Other amounts payable | 47/48 | €15,445 | €44,545 | +€29,100 | +188.4% |
| Accrued charges and deferred income | 492/3 | €4,974 | €4,974 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,166 | €2,969 | +€1,803 | +154.6% |
| Other operating charges | 640/8 | €5,088 | €3,117 | -€1,971 | -38.7% |
| Gross operating margin | 9900 | €39,156 | €31,565 | -€7,591 | -19.4% |
| Operating profit (loss) | 9901 | €32,902 | €25,480 | -€7,423 | -22.6% |
| Financial income | 75/76B | €0 | €34 | +€34 | +7289.1% |
| Recurring financial income | 75 | €0 | €34 | +€34 | +7289.1% |
| Financial charges | 65/66B | €608 | €523 | -€85 | -14.0% |
| Recurring financial charges | 65 | €608 | €523 | -€85 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €32,295 | €24,991 | -€7,304 | -22.6% |
| Income taxes | 67/77 | €6,025 | €7,056 | +€1,032 | +17.1% |
| Profit (loss) for the period | 9904 | €26,270 | €17,935 | -€8,335 | -31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,270 | €17,935 | -€8,335 | -31.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.