PROCOVIAN: 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.
PROCOVIAN
Largest movements
- Receivables within one year -€140,359
down €140,359 (-99.1%), from €141,652 to €1,293
of which Trade receivables: -€134,551
- Stocks and contracts -€21,191
down €21,191 (-73.6%), from €28,784 to €7,593
- Cash +€5,171
up €5,171 (+16.8%), from €30,700 to €35,871
- Profit (loss) carried forward -€91,994
down €91,994, from €0 to -€91,994
- Trade debts -€47,045
no longer reported in 2025 (was €47,045)
of which Bills of exchange payable: -€30,489
- Other debts -€14,414
down €14,414 (-45.5%), from €31,704 to €17,290
- Turnover -€68,777
no longer reported in 2025 (was €68,777)
- Services and other goods -€60,564
no longer reported in 2025 (was €60,564)
- Depreciation -€5,928
down €5,928 (-93.2%), from €6,359 to €431
- Gross operating margin -€1,238
new in 2025: -€1,238
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €201,136 | €46,835 | -€154,301 | -76.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €0 | €1,699 | +€1,699 | |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | €1,699 | +€1,699 | |
| Plant, machinery and equipment | 23 | €0 | €1,699 | +€1,699 | |
| Current assets | 29/58 | €201,136 | €45,136 | -€156,000 | -77.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €28,784 | €7,593 | -€21,191 | -73.6% |
| Stocks | 30/36 | €28,784 | €7,593 | -€21,191 | -73.6% |
| Goods purchased for resale | 34 | €28,784 | - | -€28,784 | |
| Amounts receivable within one year | 40/41 | €141,652 | €1,293 | -€140,359 | -99.1% |
| Trade receivables | 40 | €134,551 | - | -€134,551 | |
| Other amounts receivable | 41 | €7,101 | €1,293 | -€5,808 | -81.8% |
| Cash at bank and in hand | 54/58 | €30,700 | €35,871 | +€5,171 | +16.8% |
| Deferred charges and accrued income | 490/1 | - | €379 | +€379 | |
| Total equity and liabilities | 10/49 | €201,136 | €46,835 | -€154,301 | -76.7% |
| Equity | 10/15 | €121,539 | €29,545 | -€91,994 | -75.7% |
| Contributions | 10/11 | €113,287 | €113,287 | = | 0.0% |
| Capital | 10 | €113,287 | - | -€113,287 | |
| Issued capital | 100 | €113,287 | - | -€113,287 | |
| Reserves | 13 | €8,252 | €8,252 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,131 | €5,131 | = | 0.0% |
| Legal reserve | 130 | €5,131 | - | -€5,131 | |
| Other | 1319 | - | €5,131 | +€5,131 | |
| Distributable reserves | 133 | €3,121 | €3,121 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€91,994 | -€91,994 | |
| Investment grants | 15 | €0 | - | = | |
| Advance to shareholders on the distribution of net assets | 19 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Taxes | 161 | €0 | - | = | |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Environmental obligations | 163 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €79,597 | €17,290 | -€62,307 | -78.3% |
| Amounts payable within one year | 42/48 | €79,597 | €17,290 | -€62,307 | -78.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €47,045 | - | -€47,045 | |
| Suppliers | 440/4 | €16,556 | - | -€16,556 | |
| Bills of exchange payable | 441 | €30,489 | - | -€30,489 | |
| Taxes, remuneration and social security | 45 | €848 | - | -€848 | |
| Taxes | 450/3 | €848 | - | -€848 | |
| Other amounts payable | 47/48 | €31,704 | €17,290 | -€14,414 | -45.5% |
| Operating income | 70/76A | €68,777 | - | -€68,777 | |
| Turnover | 70 | €68,777 | - | -€68,777 | |
| Non-recurring operating income | 76A | - | €318 | +€318 | |
| Operating charges | 60/66A | €66,923 | - | -€66,923 | |
| Services and other goods | 61 | €60,564 | - | -€60,564 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,359 | €431 | -€5,928 | -93.2% |
| Other operating charges | 640/8 | - | €450 | +€450 | |
| Gross operating margin | 9900 | - | -€1,238 | -€1,238 | |
| Operating profit (loss) | 9901 | €1,854 | -€2,119 | -€3,973 | |
| Financial charges | 65/66B | - | €405 | +€405 | |
| Recurring financial charges | 65 | - | €405 | +€405 | |
| Profit (loss) for the period before taxes | 9903 | €1,854 | -€2,524 | -€4,378 | |
| Income taxes | 67/77 | - | €398 | +€398 | |
| Profit (loss) for the period | 9904 | €1,854 | -€2,922 | -€4,776 | |
| Transfer to tax-exempt reserves | 689 | €1,854 | - | -€1,854 | |
| Profit (loss) for the period to be appropriated | 9905 | €0 | -€2,922 | -€2,922 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.