A.M. PROTEGO: 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.
A.M. PROTEGO
Largest movements
- Tangible fixed assets -€56,975
down €56,975 (-92.0%), from €61,899 to €4,924
of which Leasing and similar rights: -€58,524
- Deferred charges and accrued income +€27,040
up €27,040 (+2,141%), from €1,263 to €28,302
- Cash -€10,733
down €10,733 (-9.2%), from €116,070 to €105,337
mainly Other debts (-€48,334) and Deferred charges and accrued income (-€27,040)
- Other debts -€48,334
down €48,334 (-96.7%), from €50,000 to €1,666
- Profit (loss) carried forward +€39,747
up €39,747 (+49.5%), from €80,363 to €120,110
- Current portion of long-term debt -€21,393
down €21,393 (-67.5%), from €31,706 to €10,313
- Trade debts -€7,957
down €7,957 (-71.9%), from €11,066 to €3,109
- Tax, wage and social debts -€4,662
down €4,662 (-11.9%), from €39,265 to €34,603
of which Taxes: -€7,527
- Gross operating margin -€36,010
down €36,010 (-28.2%), from €127,684 to €91,674
- Depreciation -€17,769
down €17,769 (-89.8%), from €19,795 to €2,026
- Taxes -€13,670
down €13,670 (-41.2%), from €33,195 to €19,525
- Other operating charges -€2,115
down €2,115 (-39.8%), from €5,316 to €3,201
- Financial charges +€1,984
up €1,984 (+81.9%), from €2,422 to €4,406
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 | €215,401 | €174,798 | -€40,602 | -18.8% |
| Fixed assets | 21/28 | €61,899 | €4,924 | -€56,975 | -92.0% |
| Tangible fixed assets | 22/27 | €61,899 | €4,924 | -€56,975 | -92.0% |
| Plant, machinery and equipment | 23 | €145 | - | -€145 | |
| Furniture and vehicles | 24 | €3,231 | €4,924 | +€1,693 | +52.4% |
| Leasing and similar rights | 25 | €58,524 | - | -€58,524 | |
| Current assets | 29/58 | €153,501 | €169,874 | +€16,373 | +10.7% |
| Amounts receivable within one year | 40/41 | €36,169 | €36,235 | +€66 | +0.2% |
| Trade receivables | 40 | €27,432 | €23,344 | -€4,088 | -14.9% |
| Other amounts receivable | 41 | €8,737 | €12,891 | +€4,155 | +47.6% |
| Cash at bank and in hand | 54/58 | €116,070 | €105,337 | -€10,733 | -9.2% |
| Deferred charges and accrued income | 490/1 | €1,263 | €28,302 | +€27,040 | +2,141% |
| Total equity and liabilities | 10/49 | €215,401 | €174,798 | -€40,602 | -18.8% |
| Equity | 10/15 | €83,363 | €123,110 | +€39,747 | +47.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,363 | €120,110 | +€39,747 | +49.5% |
| Amounts payable | 17/49 | €132,038 | €51,688 | -€80,350 | -60.9% |
| Amounts payable within one year | 42/48 | €132,038 | €49,691 | -€82,347 | -62.4% |
| Current portion of amounts payable after more than one year | 42 | €31,706 | €10,313 | -€21,393 | -67.5% |
| Trade debts | 44 | €11,066 | €3,109 | -€7,957 | -71.9% |
| Suppliers | 440/4 | €11,066 | €3,109 | -€7,957 | -71.9% |
| Taxes, remuneration and social security | 45 | €39,265 | €34,603 | -€4,662 | -11.9% |
| Taxes | 450/3 | €39,265 | €31,738 | -€7,527 | -19.2% |
| Remuneration and social security | 454/9 | - | €2,865 | +€2,865 | |
| Other amounts payable | 47/48 | €50,000 | €1,666 | -€48,334 | -96.7% |
| Accrued charges and deferred income | 492/3 | - | €1,997 | +€1,997 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,795 | €2,026 | -€17,769 | -89.8% |
| Other operating charges | 640/8 | €5,316 | €3,201 | -€2,115 | -39.8% |
| Non-recurring operating charges | 66A | - | €21,464 | +€21,464 | |
| Gross operating margin | 9900 | €127,684 | €91,674 | -€36,010 | -28.2% |
| Operating profit (loss) | 9901 | €102,573 | €64,983 | -€37,590 | -36.6% |
| Financial income | 75/76B | €13 | €361 | +€349 | +2,730% |
| Recurring financial income | 75 | €13 | €361 | +€349 | +2,730% |
| Financial charges | 65/66B | €2,422 | €4,406 | +€1,984 | +81.9% |
| Recurring financial charges | 65 | €2,422 | €4,406 | +€1,984 | +81.9% |
| Profit (loss) for the period before taxes | 9903 | €100,163 | €60,938 | -€39,225 | -39.2% |
| Income taxes | 67/77 | €33,195 | €19,525 | -€13,670 | -41.2% |
| Profit (loss) for the period | 9904 | €66,968 | €41,413 | -€25,555 | -38.2% |
| Profit (loss) for the period to be appropriated | 9905 | €66,968 | €41,413 | -€25,555 | -38.2% |
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 22 October 2026 via checked.be.