PROFINCO: 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.
PROFINCO
Largest movements
- Deferred charges and accrued income -€49,679
down €49,679 (-87.7%), from €56,632 to €6,953
- Cash -€15,790
down €15,790 (-9.7%), from €162,705 to €146,915
mainly Contributions, distributions and other (-€164,474) and Receivables within one year (-€11,062)
- Tangible fixed assets -€12,284
down €12,284 (-5.9%), from €208,965 to €196,681
- Receivables within one year +€11,062
up €11,062 (+107.6%), from €10,285 to €21,347
- Reserves -€87,955
down €87,955 (-31.2%), from €281,713 to €193,758
- Short-term financial debts +€25,000
new in 2025: €25,000
- Tax, wage and social debts +€10,242
up €10,242 (+80.2%), from €12,766 to €23,008
- Current portion of long-term debt -€9,633
no longer reported in 2025 (was €9,633)
- Gross operating margin +€3,612
up €3,612 (+2.6%), from €137,073 to €140,685
- Financial charges -€2,920
down €2,920 (-40.0%), from €7,298 to €4,377
- Taxes +€1,608
up €1,608 (+4.8%), from €33,786 to €35,394
- Depreciation +€1,461
up €1,461 (+7.2%), from €20,372 to €21,834
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 | €439,295 | €371,896 | -€67,399 | -15.3% |
| Fixed assets | 21/28 | €208,965 | €196,681 | -€12,284 | -5.9% |
| Tangible fixed assets | 22/27 | €208,965 | €196,681 | -€12,284 | -5.9% |
| Land and buildings | 22 | €176,331 | €172,042 | -€4,289 | -2.4% |
| Plant, machinery and equipment | 23 | €14,154 | €12,257 | -€1,897 | -13.4% |
| Furniture and vehicles | 24 | €8,879 | €7,754 | -€1,125 | -12.7% |
| Other tangible fixed assets | 26 | €9,602 | €4,628 | -€4,973 | -51.8% |
| Current assets | 29/58 | €230,330 | €175,215 | -€55,115 | -23.9% |
| Stocks and contracts in progress | 3 | €707 | - | -€707 | |
| Stocks | 30/36 | €707 | - | -€707 | |
| Amounts receivable within one year | 40/41 | €10,285 | €21,347 | +€11,062 | +107.6% |
| Trade receivables | 40 | €10,285 | €21,347 | +€11,062 | +107.6% |
| Cash at bank and in hand | 54/58 | €162,705 | €146,915 | -€15,790 | -9.7% |
| Deferred charges and accrued income | 490/1 | €56,632 | €6,953 | -€49,679 | -87.7% |
| Total equity and liabilities | 10/49 | €439,295 | €371,896 | -€67,399 | -15.3% |
| Equity | 10/15 | €300,313 | €212,358 | -€87,955 | -29.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €281,713 | €193,758 | -€87,955 | -31.2% |
| Distributable reserves | 133 | €281,713 | €193,758 | -€87,955 | -31.2% |
| Amounts payable | 17/49 | €138,982 | €159,538 | +€20,556 | +14.8% |
| Amounts payable after more than one year | 17 | €109,702 | €109,181 | -€521 | -0.5% |
| Financial debts | 170/4 | €109,702 | €109,181 | -€521 | -0.5% |
| Amounts payable within one year | 42/48 | €29,280 | €50,357 | +€21,078 | +72.0% |
| Current portion of amounts payable after more than one year | 42 | €9,633 | - | -€9,633 | |
| Financial debts | 43 | - | €25,000 | +€25,000 | |
| Credit institutions | 430/8 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €4,778 | €1,970 | -€2,808 | -58.8% |
| Suppliers | 440/4 | €4,778 | €1,970 | -€2,808 | -58.8% |
| Taxes, remuneration and social security | 45 | €12,766 | €23,008 | +€10,242 | +80.2% |
| Taxes | 450/3 | €12,766 | €23,008 | +€10,242 | +80.2% |
| Other amounts payable | 47/48 | €2,102 | €379 | -€1,723 | -82.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,372 | €21,834 | +€1,461 | +7.2% |
| Other operating charges | 640/8 | €2,826 | €3,068 | +€242 | +8.6% |
| Gross operating margin | 9900 | €137,073 | €140,685 | +€3,612 | +2.6% |
| Operating profit (loss) | 9901 | €113,875 | €115,783 | +€1,909 | +1.7% |
| Financial income | 75/76B | €109 | €507 | +€398 | +363.6% |
| Recurring financial income | 75 | €109 | €507 | +€398 | +363.6% |
| Financial charges | 65/66B | €7,298 | €4,377 | -€2,920 | -40.0% |
| Recurring financial charges | 65 | €7,298 | €4,377 | -€2,920 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €106,687 | €111,913 | +€5,227 | +4.9% |
| Income taxes | 67/77 | €33,786 | €35,394 | +€1,608 | +4.8% |
| Profit (loss) for the period | 9904 | €72,901 | €76,519 | +€3,619 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €72,901 | €76,519 | +€3,619 | +5.0% |
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 7 October 2026 via checked.be.