PROGAN: 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.
PROGAN
Largest movements
- Cash -€76,522
down €76,522 (-78.6%), from €97,331 to €20,809
mainly Contributions, distributions and other (-€219,550) and Net result for the year (-€34,868)
- Receivables within one year +€34,345
up €34,345 (+19.3%), from €177,781 to €212,126
of which Other amounts receivable: +€34,389
- Reserves -€219,550
down €219,550 (-42.1%), from €521,401 to €301,851
- Other debts +€219,550
new in 2025: €219,550
- Profit (loss) carried forward -€34,868
new in 2025: -€34,868
- Gross operating margin -€177,659
down €177,659, from €145,937 to -€31,723
- Financial charges -€62,114
down €62,114 (-97.2%), from €63,931 to €1,817
- Taxes -€29,787
down €29,787 (-74.6%), from €39,919 to €10,132
- Other operating charges -€21,883
down €21,883 (-96.3%), from €22,731 to €848
- Financial income +€5,997
up €5,997 (+91.6%), from €6,548 to €12,545
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 | €620,671 | €576,457 | -€44,214 | -7.1% |
| Fixed assets | 21/28 | €165,060 | €163,010 | -€2,051 | -1.2% |
| Tangible fixed assets | 22/27 | €156,594 | €154,543 | -€2,051 | -1.3% |
| Land and buildings | 22 | €151,784 | €151,784 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,628 | €1,853 | -€775 | -29.5% |
| Furniture and vehicles | 24 | €2,182 | €905 | -€1,276 | -58.5% |
| Financial fixed assets | 28 | €8,467 | €8,467 | = | 0.0% |
| Current assets | 29/58 | €455,610 | €413,447 | -€42,163 | -9.3% |
| Amounts receivable within one year | 40/41 | €177,781 | €212,126 | +€34,345 | +19.3% |
| Trade receivables | 40 | €44 | - | -€44 | |
| Other amounts receivable | 41 | €177,737 | €212,126 | +€34,389 | +19.3% |
| Current investments | 50/53 | €180,000 | €180,000 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €97,331 | €20,809 | -€76,522 | -78.6% |
| Deferred charges and accrued income | 490/1 | €498 | €512 | +€14 | +2.7% |
| Total equity and liabilities | 10/49 | €620,671 | €576,457 | -€44,214 | -7.1% |
| Equity | 10/15 | €585,435 | €331,017 | -€254,418 | -43.5% |
| Contributions | 10/11 | €64,034 | €64,034 | = | 0.0% |
| Reserves | 13 | €521,401 | €301,851 | -€219,550 | -42.1% |
| Distributable reserves | 133 | €521,401 | €301,851 | -€219,550 | -42.1% |
| Profit (loss) carried forward | 14 | - | -€34,868 | -€34,868 | |
| Provisions and deferred taxes | 16 | €5,892 | €5,892 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,892 | €5,892 | = | 0.0% |
| Taxes | 161 | €5,892 | - | -€5,892 | |
| Other liabilities and charges | 164/5 | - | €5,892 | +€5,892 | |
| Amounts payable | 17/49 | €29,344 | €239,548 | +€210,204 | +716% |
| Amounts payable after more than one year | 17 | €3,152 | €3,152 | = | 0.0% |
| Financial debts | 170/4 | €3,152 | €3,152 | = | 0.0% |
| Amounts payable within one year | 42/48 | €26,192 | €236,396 | +€210,204 | +803% |
| Current portion of amounts payable after more than one year | 42 | €5,212 | - | -€5,212 | |
| Trade debts | 44 | €8,276 | €6,156 | -€2,121 | -25.6% |
| Suppliers | 440/4 | €8,276 | €6,156 | -€2,121 | -25.6% |
| Taxes, remuneration and social security | 45 | €12,703 | €10,690 | -€2,013 | -15.8% |
| Taxes | 450/3 | €12,703 | €10,690 | -€2,013 | -15.8% |
| Other amounts payable | 47/48 | - | €219,550 | +€219,550 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,662 | €2,893 | +€231 | +8.7% |
| Other operating charges | 640/8 | €22,731 | €848 | -€21,883 | -96.3% |
| Gross operating margin | 9900 | €145,937 | -€31,723 | -€177,659 | |
| Operating profit (loss) | 9901 | €120,543 | -€35,464 | -€156,007 | |
| Financial income | 75/76B | €6,548 | €12,545 | +€5,997 | +91.6% |
| Recurring financial income | 75 | €6,548 | €12,545 | +€5,997 | +91.6% |
| Financial charges | 65/66B | €63,931 | €1,817 | -€62,114 | -97.2% |
| Recurring financial charges | 65 | €63,931 | €1,817 | -€62,114 | -97.2% |
| Profit (loss) for the period before taxes | 9903 | €63,160 | -€24,736 | -€87,896 | |
| Income taxes | 67/77 | €39,919 | €10,132 | -€29,787 | -74.6% |
| Profit (loss) for the period | 9904 | €23,241 | -€34,868 | -€58,110 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,241 | -€34,868 | -€58,110 |
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 14 October 2026 via checked.be.