PROGECO: 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.
PROGECO
Largest movements
- Cash -€255,504
down €255,504 (-97.3%), from €262,608 to €7,104
mainly Receivables within one year (-€249,402) and Net result for the year (-€40,821)
- Receivables within one year +€249,402
up €249,402 (+111.3%), from €224,131 to €473,533
of which Trade receivables: +€223,581
- Trade debts +€72,772
up €72,772 (+28.5%), from €255,058 to €327,830
- Profit (loss) carried forward -€40,821
down €40,821 (-24.2%), from €168,910 to €128,089
- Tax, wage and social debts -€38,426
down €38,426 (-88.5%), from €43,409 to €4,983
- Gross operating margin -€172,866
down €172,866, from €97,409 to -€75,456
- Write-downs -€85,551
no longer reported in 2023 (was €85,551)
- Financial income +€48,992
up €48,992 (+3625.6%), from €1,351 to €50,343
of which Non-recurring financial income: +€48,381
- Taxes -€7,218
down €7,218, from €5,050 to -€2,168
- Financial charges +€3,566
up €3,566 (+111.3%), from €3,205 to €6,770
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €490,231 | €483,307 | -€6,925 | -1.4% |
| Fixed assets | 21/28 | €3,309 | €1,541 | -€1,769 | -53.4% |
| Tangible fixed assets | 22/27 | €2,525 | €757 | -€1,769 | -70.0% |
| Furniture and vehicles | 24 | €2,525 | €757 | -€1,769 | -70.0% |
| Financial fixed assets | 28 | €784 | €784 | = | 0.0% |
| Current assets | 29/58 | €486,922 | €481,766 | -€5,156 | -1.1% |
| Amounts receivable within one year | 40/41 | €224,131 | €473,533 | +€249,402 | +111.3% |
| Trade receivables | 40 | €162,499 | €386,080 | +€223,581 | +137.6% |
| Other amounts receivable | 41 | €61,632 | €87,453 | +€25,821 | +41.9% |
| Cash at bank and in hand | 54/58 | €262,608 | €7,104 | -€255,504 | -97.3% |
| Deferred charges and accrued income | 490/1 | €184 | €1,130 | +€946 | +514.7% |
| Total equity and liabilities | 10/49 | €490,231 | €483,307 | -€6,925 | -1.4% |
| Equity | 10/15 | €191,315 | €150,494 | -€40,821 | -21.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €20,405 | €20,405 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €168,910 | €128,089 | -€40,821 | -24.2% |
| Amounts payable | 17/49 | €298,917 | €332,813 | +€33,896 | +11.3% |
| Amounts payable within one year | 42/48 | €298,917 | €332,813 | +€33,896 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €450 | - | -€450 | |
| Trade debts | 44 | €255,058 | €327,830 | +€72,772 | +28.5% |
| Suppliers | 440/4 | €255,058 | €327,830 | +€72,772 | +28.5% |
| Taxes, remuneration and social security | 45 | €43,409 | €4,983 | -€38,426 | -88.5% |
| Taxes | 450/3 | €43,409 | €4,983 | -€38,426 | -88.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,769 | €1,769 | +€0 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €85,551 | - | -€85,551 | |
| Other operating charges | 640/8 | €710 | €336 | -€374 | -52.7% |
| Non-recurring operating charges | 66A | €14,254 | €9,001 | -€5,253 | -36.9% |
| Gross operating margin | 9900 | €97,409 | -€75,456 | -€172,866 | |
| Operating profit (loss) | 9901 | -€4,875 | -€86,562 | -€81,688 | -1675.8% |
| Financial income | 75/76B | €1,351 | €50,343 | +€48,992 | +3625.6% |
| Recurring financial income | 75 | €667 | €1,278 | +€611 | +91.7% |
| Non-recurring financial income | 76B | €684 | €49,065 | +€48,381 | +7069.7% |
| Financial charges | 65/66B | €3,205 | €6,770 | +€3,566 | +111.3% |
| Recurring financial charges | 65 | €3,205 | €6,770 | +€3,566 | +111.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,728 | -€42,989 | -€36,261 | -539.0% |
| Income taxes | 67/77 | €5,050 | -€2,168 | -€7,218 | |
| Profit (loss) for the period | 9904 | -€11,777 | -€40,821 | -€29,043 | -246.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,777 | -€40,821 | -€29,043 | -246.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.