PRAGMA: 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
Largest movements
- Receivables within one year -€31,582
down €31,582 (-51.3%), from €61,574 to €29,992
of which Trade receivables: -€33,086
- Cash -€3,040
down €3,040 (-50.9%), from €5,970 to €2,931
mainly Trade debts (-€59,313) and Other debts (-€750)
- Tangible fixed assets -€963
down €963 (-42.2%), from €2,284 to €1,321
- Trade debts -€59,313
down €59,313 (-41.8%), from €141,799 to €82,486
- Profit (loss) carried forward +€22,729
up €22,729 (+15.6%), from -€145,356 to -€122,628
- Contributions +€1,750
up €1,750 (+6.3%), from €27,600 to €29,350
- Other debts -€750
down €750 (-1.6%), from €45,785 to €45,035
- Gross operating margin +€62,109
up €62,109, from -€25,164 to €36,945
- Write-downs +€12,229
up €12,229, from €0 to €12,229
- Financial charges +€526
up €526 (+110%), from €480 to €1,007
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 | €69,828 | €34,244 | -€35,584 | -51.0% |
| Fixed assets | 21/28 | €2,284 | €1,321 | -€963 | -42.2% |
| Tangible fixed assets | 22/27 | €2,284 | €1,321 | -€963 | -42.2% |
| Furniture and vehicles | 24 | €2,284 | €1,321 | -€963 | -42.2% |
| Current assets | 29/58 | €67,544 | €32,922 | -€34,621 | -51.3% |
| Amounts receivable within one year | 40/41 | €61,574 | €29,992 | -€31,582 | -51.3% |
| Trade receivables | 40 | €52,824 | €19,738 | -€33,086 | -62.6% |
| Other amounts receivable | 41 | €8,750 | €10,254 | +€1,505 | +17.2% |
| Cash at bank and in hand | 54/58 | €5,970 | €2,931 | -€3,040 | -50.9% |
| Total equity and liabilities | 10/49 | €69,828 | €34,244 | -€35,584 | -51.0% |
| Equity | 10/15 | -€117,756 | -€93,278 | +€24,479 | +20.8% |
| Contributions | 10/11 | €27,600 | €29,350 | +€1,750 | +6.3% |
| Capital | 10 | €27,600 | €29,350 | +€1,750 | +6.3% |
| Issued capital | 100 | €27,600 | €29,350 | +€1,750 | +6.3% |
| Profit (loss) carried forward | 14 | -€145,356 | -€122,628 | +€22,729 | +15.6% |
| Amounts payable | 17/49 | €187,584 | €127,521 | -€60,063 | -32.0% |
| Amounts payable within one year | 42/48 | €187,584 | €127,521 | -€60,063 | -32.0% |
| Trade debts | 44 | €141,799 | €82,486 | -€59,313 | -41.8% |
| Suppliers | 440/4 | €141,799 | €82,486 | -€59,313 | -41.8% |
| Other amounts payable | 47/48 | €45,785 | €45,035 | -€750 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €963 | €963 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €12,229 | +€12,229 | |
| Other operating charges | 640/8 | €97 | €18 | -€79 | -81.5% |
| Gross operating margin | 9900 | -€25,164 | €36,945 | +€62,109 | |
| Operating profit (loss) | 9901 | -€26,224 | €23,735 | +€49,959 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €480 | €1,007 | +€526 | +110% |
| Recurring financial charges | 65 | €480 | €1,007 | +€526 | +110% |
| Profit (loss) for the period before taxes | 9903 | -€26,704 | €22,729 | +€49,433 | |
| Profit (loss) for the period | 9904 | -€26,704 | €22,729 | +€49,433 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,704 | €22,729 | +€49,433 |
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 28 October 2026 via checked.be.