Pro Ch@nge: 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.
Pro Ch@nge
Largest movements
- Stocks and contracts -€418,929
down €418,929 (-42.2%), from €992,061 to €573,131
- Receivables after one year -€275,134
down €275,134 (-80.0%), from €344,026 to €68,893
- Cash +€222,757
up €222,757 (+126%), from €176,300 to €399,057
mainly Stocks and contracts (+€418,929) and Receivables after one year (+€275,134)
- Financial fixed assets +€166,400
new in 2025: €166,400
- Tangible fixed assets +€16,412
up €16,412 (+132%), from €12,422 to €28,833
of which Plant, machinery and equipment: +€21,836
- Short-term financial debts -€304,760
down €304,760 (-37.1%), from €821,010 to €516,250
- Reserves -€184,211
down €184,211 (-30.6%), from €601,113 to €416,903
- Other debts +€164,078
up €164,078 (+660%), from €24,846 to €188,925
- Debts after one year +€84,681
up €84,681, from €0 to €84,681
- Tax, wage and social debts -€59,209
down €59,209 (-85.5%), from €69,275 to €10,066
- Financial charges -€33,727
down €33,727 (-59.6%), from €56,608 to €22,881
- Gross operating margin -€10,845
down €10,845 (-18.4%), from €59,043 to €48,198
- Financial income -€7,284
down €7,284 (-50.3%), from €14,467 to €7,183
- Taxes +€5,045
up €5,045 (+87.7%), from €5,751 to €10,796
- Depreciation -€2,903
down €2,903 (-30.6%), from €9,491 to €6,588
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 | €1,551,822 | €1,264,564 | -€287,257 | -18.5% |
| Fixed assets | 21/28 | €12,422 | €195,233 | +€182,812 | +1,472% |
| Tangible fixed assets | 22/27 | €12,422 | €28,833 | +€16,412 | +132% |
| Plant, machinery and equipment | 23 | €2,274 | €24,109 | +€21,836 | +960% |
| Furniture and vehicles | 24 | €9,793 | €4,689 | -€5,104 | -52.1% |
| Other tangible fixed assets | 26 | €355 | €35 | -€320 | -90.1% |
| Financial fixed assets | 28 | - | €166,400 | +€166,400 | |
| Current assets | 29/58 | €1,539,400 | €1,069,331 | -€470,069 | -30.5% |
| Amounts receivable after more than one year | 29 | €344,026 | €68,893 | -€275,134 | -80.0% |
| Other amounts receivable | 291 | €344,026 | €68,893 | -€275,134 | -80.0% |
| Stocks and contracts in progress | 3 | €992,061 | €573,131 | -€418,929 | -42.2% |
| Stocks | 30/36 | €992,061 | €573,131 | -€418,929 | -42.2% |
| Amounts receivable within one year | 40/41 | €23,446 | €21,306 | -€2,140 | -9.1% |
| Trade receivables | 40 | €23,446 | €18,355 | -€5,090 | -21.7% |
| Other amounts receivable | 41 | €0 | €2,951 | +€2,951 | |
| Cash at bank and in hand | 54/58 | €176,300 | €399,057 | +€222,757 | +126% |
| Deferred charges and accrued income | 490/1 | €3,567 | €6,944 | +€3,377 | +94.7% |
| Total equity and liabilities | 10/49 | €1,551,822 | €1,264,564 | -€287,257 | -18.5% |
| Equity | 10/15 | €588,276 | €417,741 | -€170,534 | -29.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €601,113 | €416,903 | -€184,211 | -30.6% |
| Distributable reserves | 133 | €601,113 | €416,903 | -€184,211 | -30.6% |
| Profit (loss) carried forward | 14 | -€19,038 | -€5,361 | +€13,676 | +71.8% |
| Amounts payable | 17/49 | €963,546 | €846,823 | -€116,723 | -12.1% |
| Amounts payable after more than one year | 17 | €0 | €84,681 | +€84,681 | |
| Financial debts | 170/4 | €0 | €84,681 | +€84,681 | |
| Amounts payable within one year | 42/48 | €948,569 | €761,908 | -€186,662 | -19.7% |
| Current portion of amounts payable after more than one year | 42 | €3,124 | €14,241 | +€11,118 | +356% |
| Financial debts | 43 | €821,010 | €516,250 | -€304,760 | -37.1% |
| Credit institutions | 430/8 | €821,010 | €516,250 | -€304,760 | -37.1% |
| Trade debts | 44 | €30,314 | €32,426 | +€2,112 | +7.0% |
| Suppliers | 440/4 | €30,314 | €32,426 | +€2,112 | +7.0% |
| Taxes, remuneration and social security | 45 | €69,275 | €10,066 | -€59,209 | -85.5% |
| Taxes | 450/3 | €69,275 | €10,066 | -€59,209 | -85.5% |
| Other amounts payable | 47/48 | €24,846 | €188,925 | +€164,078 | +660% |
| Accrued charges and deferred income | 492/3 | €14,977 | €234 | -€14,743 | -98.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,491 | €6,588 | -€2,903 | -30.6% |
| Other operating charges | 640/8 | €1,335 | €1,439 | +€105 | +7.8% |
| Gross operating margin | 9900 | €59,043 | €48,198 | -€10,845 | -18.4% |
| Operating profit (loss) | 9901 | €48,218 | €40,170 | -€8,048 | -16.7% |
| Financial income | 75/76B | €14,467 | €7,183 | -€7,284 | -50.3% |
| Recurring financial income | 75 | €14,467 | €7,183 | -€7,284 | -50.3% |
| Financial charges | 65/66B | €56,608 | €22,881 | -€33,727 | -59.6% |
| Recurring financial charges | 65 | €56,608 | €22,881 | -€33,727 | -59.6% |
| Profit (loss) for the period before taxes | 9903 | €6,077 | €24,472 | +€18,396 | +303% |
| Income taxes | 67/77 | €5,751 | €10,796 | +€5,045 | +87.7% |
| Profit (loss) for the period | 9904 | €326 | €13,676 | +€13,351 | +4,098% |
| Profit (loss) for the period to be appropriated | 9905 | €326 | €13,676 | +€13,351 | +4,098% |
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 21 October 2026 via checked.be.