PROFACE: 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.
PROFACE
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+39.3%), from €2.8m to €3.9m
of which Assets under construction and advance payments: +€968,206
- Cash -€40,980
down €40,980 (-49.9%), from €82,200 to €41,220
- Short-term financial debts +€705,000
new in 2025: €705,000
- Reserves +€184,861
up €184,861 (+68.8%), from €268,817 to €453,678
of which Distributable reserves: +€184,861
- Other debts +€97,485
up €97,485 (+35980.3%), from €271 to €97,756
- Current portion of long-term debt +€87,311
up €87,311 (+411.9%), from €21,197 to €108,508
- Debts after one year -€81,901
down €81,901 (-3.2%), from €2.6m to €2.5m
- Gross operating margin +€168,946
up €168,946 (+367.7%), from €45,941 to €214,887
- Financial charges +€23,515
up €23,515 (+473.9%), from €4,963 to €28,478
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.
Cash bridge derived
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 | €2,954,174 | €3,971,801 | +€1.0m | +34.4% |
| Fixed assets | 21/28 | €2,820,993 | €3,930,037 | +€1.1m | +39.3% |
| Tangible fixed assets | 22/27 | €2,820,993 | €3,930,037 | +€1.1m | +39.3% |
| Land and buildings | 22 | €827,458 | €968,296 | +€140,837 | +17.0% |
| Assets under construction and advance payments | 27 | €1,993,535 | €2,961,741 | +€968,206 | +48.6% |
| Current assets | 29/58 | €133,181 | €41,764 | -€91,417 | -68.6% |
| Amounts receivable within one year | 40/41 | €23,697 | - | -€23,697 | |
| Other amounts receivable | 41 | €23,697 | - | -€23,697 | |
| Cash at bank and in hand | 54/58 | €82,200 | €41,220 | -€40,980 | -49.9% |
| Deferred charges and accrued income | 490/1 | €27,284 | €544 | -€26,739 | -98.0% |
| Total equity and liabilities | 10/49 | €2,954,174 | €3,971,801 | +€1.0m | +34.4% |
| Equity | 10/15 | €333,603 | €518,464 | +€184,861 | +55.4% |
| Contributions | 10/11 | €64,786 | €64,786 | = | 0.0% |
| Capital | 10 | €64,786 | €64,786 | = | 0.0% |
| Issued capital | 100 | €64,786 | €64,786 | = | 0.0% |
| Reserves | 13 | €268,817 | €453,678 | +€184,861 | +68.8% |
| Non-distributable reserves | 130/1 | €20,289 | €20,289 | = | 0.0% |
| Legal reserve | 130 | €20,289 | €20,289 | = | 0.0% |
| Tax-exempt reserves | 132 | €262 | €262 | = | 0.0% |
| Distributable reserves | 133 | €248,266 | €433,127 | +€184,861 | +74.5% |
| Amounts payable | 17/49 | €2,620,571 | €3,453,337 | +€832,766 | +31.8% |
| Amounts payable after more than one year | 17 | €2,597,238 | €2,515,338 | -€81,901 | -3.2% |
| Financial debts | 170/4 | €2,597,238 | €2,515,338 | -€81,901 | -3.2% |
| Amounts payable within one year | 42/48 | €23,333 | €938,000 | +€914,667 | +3920.0% |
| Current portion of amounts payable after more than one year | 42 | €21,197 | €108,508 | +€87,311 | +411.9% |
| Financial debts | 43 | - | €705,000 | +€705,000 | |
| Credit institutions | 430/8 | - | €705,000 | +€705,000 | |
| Trade debts | 44 | €1,865 | €26,736 | +€24,871 | +1333.7% |
| Suppliers | 440/4 | €1,865 | €26,736 | +€24,871 | +1333.7% |
| Other amounts payable | 47/48 | €271 | €97,756 | +€97,485 | +35980.3% |
| Non-recurring operating income | 76A | - | €112,456 | +€112,456 | |
| Other operating charges | 640/8 | €2,405 | €1,548 | -€857 | -35.6% |
| Gross operating margin | 9900 | €45,941 | €214,887 | +€168,946 | +367.7% |
| Operating profit (loss) | 9901 | €43,536 | €213,339 | +€169,803 | +390.0% |
| Financial income | 75/76B | €550 | - | -€550 | |
| Recurring financial income | 75 | €550 | - | -€550 | |
| Financial charges | 65/66B | €4,963 | €28,478 | +€23,515 | +473.9% |
| Recurring financial charges | 65 | €4,963 | €28,478 | +€23,515 | +473.9% |
| Profit (loss) for the period before taxes | 9903 | €39,123 | €184,861 | +€145,738 | +372.5% |
| Profit (loss) for the period | 9904 | €39,123 | €184,861 | +€145,738 | +372.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,123 | €184,861 | +€145,738 | +372.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.