PRODEL: 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.
PRODEL
Largest movements
- Receivables within one year -€245,388
down €245,388 (-42.8%), from €573,238 to €327,850
of which Other amounts receivable: -€244,252
- Tangible fixed assets -€240,853
down €240,853 (-3.8%), from €6.4m to €6.1m
of which Land and buildings: -€166,380
- Cash -€158,317
down €158,317 (-58.6%), from €270,077 to €111,759
mainly Tax, wage and social debts (-€311,472) and Trade debts (-€280,505)
- Tax, wage and social debts -€311,472
down €311,472 (-93.7%), from €332,367 to €20,894
- Trade debts -€280,505
down €280,505 (-90.1%), from €311,222 to €30,717
- Debts after one year -€248,394
down €248,394 (-9.4%), from €2.6m to €2.4m
of which Financial debts: -€132,691
- Other debts +€143,221
up €143,221 (+188.0%), from €76,195 to €219,416
- Short-term financial debts +€125,000
new in 2025: €125,000
- Gross operating margin +€101,026
up €101,026 (+74.6%), from €135,440 to €236,465
- Depreciation +€38,700
up €38,700 (+18.2%), from €212,637 to €251,337
- Financial charges -€23,729
down €23,729 (-53.1%), from €44,699 to €20,970
- Other operating charges +€19,623
up €19,623 (+55.8%), from €35,184 to €54,807
- Taxes -€15,055
down €15,055 (-72.5%), from €20,755 to €5,700
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 | €7,331,312 | €6,666,402 | -€664,910 | -9.1% |
| Fixed assets | 21/28 | €6,411,171 | €6,170,318 | -€240,853 | -3.8% |
| Tangible fixed assets | 22/27 | €6,381,171 | €6,140,318 | -€240,853 | -3.8% |
| Land and buildings | 22 | €5,865,230 | €5,698,850 | -€166,380 | -2.8% |
| Furniture and vehicles | 24 | €49,623 | €28,451 | -€21,172 | -42.7% |
| Other tangible fixed assets | 26 | €466,318 | €413,018 | -€53,300 | -11.4% |
| Financial fixed assets | 28 | €30,000 | €30,000 | = | 0.0% |
| Current assets | 29/58 | €920,141 | €496,084 | -€424,057 | -46.1% |
| Amounts receivable after more than one year | 29 | €54,682 | €40,355 | -€14,327 | -26.2% |
| Other amounts receivable | 291 | €54,682 | €40,355 | -€14,327 | -26.2% |
| Amounts receivable within one year | 40/41 | €573,238 | €327,850 | -€245,388 | -42.8% |
| Trade receivables | 40 | €93,736 | €92,600 | -€1,136 | -1.2% |
| Other amounts receivable | 41 | €479,502 | €235,250 | -€244,252 | -50.9% |
| Cash at bank and in hand | 54/58 | €270,077 | €111,759 | -€158,317 | -58.6% |
| Deferred charges and accrued income | 490/1 | €22,145 | €16,120 | -€6,025 | -27.2% |
| Total equity and liabilities | 10/49 | €7,331,312 | €6,666,402 | -€664,910 | -9.1% |
| Equity | 10/15 | €3,211,519 | €3,139,945 | -€71,574 | -2.2% |
| Contributions | 10/11 | €668,575 | €668,575 | = | 0.0% |
| Capital | 10 | €368,575 | €368,575 | = | 0.0% |
| Issued capital | 100 | €368,575 | €368,575 | = | 0.0% |
| Outside capital | 11 | €300,000 | €300,000 | = | 0.0% |
| Other | 1109/19 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €1,766,469 | €1,704,864 | -€61,605 | -3.5% |
| Non-distributable reserves | 130/1 | €131,786 | €131,786 | = | 0.0% |
| Legal reserve | 130 | €101,858 | €101,858 | = | 0.0% |
| Reserves not available under the articles | 1311 | €29,929 | €29,929 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,634,656 | €1,573,051 | -€61,605 | -3.8% |
| Distributable reserves | 133 | €27 | €27 | = | 0.0% |
| Profit (loss) carried forward | 14 | €776,475 | €766,506 | -€9,968 | -1.3% |
| Provisions and deferred taxes | 16 | €576,974 | €552,816 | -€24,158 | -4.2% |
| Deferred taxes | 168 | €576,974 | €552,816 | -€24,158 | -4.2% |
| Amounts payable | 17/49 | €3,542,819 | €2,973,641 | -€569,178 | -16.1% |
| Amounts payable after more than one year | 17 | €2,638,662 | €2,390,268 | -€248,394 | -9.4% |
| Financial debts | 170/4 | €1,842,355 | €1,709,665 | -€132,691 | -7.2% |
| Other amounts payable | 178/9 | €796,307 | €680,603 | -€115,703 | -14.5% |
| Amounts payable within one year | 42/48 | €904,157 | €583,373 | -€320,784 | -35.5% |
| Current portion of amounts payable after more than one year | 42 | €184,374 | €187,347 | +€2,973 | +1.6% |
| Financial debts | 43 | - | €125,000 | +€125,000 | |
| Credit institutions | 430/8 | - | €125,000 | +€125,000 | |
| Trade debts | 44 | €311,222 | €30,717 | -€280,505 | -90.1% |
| Suppliers | 440/4 | €311,222 | €30,717 | -€280,505 | -90.1% |
| Taxes, remuneration and social security | 45 | €332,367 | €20,894 | -€311,472 | -93.7% |
| Taxes | 450/3 | €332,367 | €20,894 | -€311,472 | -93.7% |
| Other amounts payable | 47/48 | €76,195 | €219,416 | +€143,221 | +188.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €212,637 | €251,337 | +€38,700 | +18.2% |
| Other operating charges | 640/8 | €35,184 | €54,807 | +€19,623 | +55.8% |
| Gross operating margin | 9900 | €135,440 | €236,465 | +€101,026 | +74.6% |
| Operating profit (loss) | 9901 | -€112,381 | -€69,678 | +€42,703 | +38.0% |
| Financial income | 75/76B | €2,478 | €616 | -€1,862 | -75.1% |
| Recurring financial income | 75 | €2,478 | €616 | -€1,862 | -75.1% |
| Financial charges | 65/66B | €44,699 | €20,970 | -€23,729 | -53.1% |
| Recurring financial charges | 65 | €44,699 | €20,970 | -€23,729 | -53.1% |
| Profit (loss) for the period before taxes | 9903 | -€154,602 | -€90,032 | +€64,570 | +41.8% |
| Transfer from deferred taxes | 780 | €22,796 | €24,158 | +€1,362 | +6.0% |
| Income taxes | 67/77 | €20,755 | €5,700 | -€15,055 | -72.5% |
| Profit (loss) for the period | 9904 | -€152,561 | -€71,574 | +€80,987 | +53.1% |
| Transfer from tax-exempt reserves | 789 | €57,519 | €61,605 | +€4,087 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€95,042 | -€9,968 | +€85,074 | +89.5% |
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 30 September 2026 via checked.be.