PROGECOFI: 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.
PROGECOFI
Largest movements
- Receivables within one year +€17,677
up €17,677 (+39.9%), from €44,301 to €61,978
of which Trade receivables: +€21,698
- Cash +€2,135
up €2,135 (+5.8%), from €37,089 to €39,224
mainly Net result for the year (+€18,244) and Tax, wage and social debts (+€5,610)
- Reserves +€18,200
up €18,200 (+39.9%), from €45,600 to €63,800
- Tax, wage and social debts +€5,610
up €5,610 (+94.4%), from €5,940 to €11,551
of which Taxes: +€5,062
- Other debts -€3,204
down €3,204 (-47.4%), from €6,761 to €3,558
- Trade debts -€1,778
down €1,778 (-13.3%), from €13,414 to €11,636
- Staff costs -€7,528
down €7,528 (-28.4%), from €26,506 to €18,978
- Taxes +€3,036
up €3,036 (+42.2%), from €7,196 to €10,232
- Gross operating margin +€2,094
up €2,094 (+4.4%), from €47,599 to €49,693
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €84,363 | €103,236 | +€18,873 | +22.4% |
| Fixed assets | 21/28 | €1,863 | €969 | -€894 | -48.0% |
| Tangible fixed assets | 22/27 | €1,813 | €919 | -€894 | -49.3% |
| Furniture and vehicles | 24 | €1,813 | €919 | -€894 | -49.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €82,500 | €102,267 | +€19,767 | +24.0% |
| Amounts receivable within one year | 40/41 | €44,301 | €61,978 | +€17,677 | +39.9% |
| Trade receivables | 40 | €27,687 | €49,385 | +€21,698 | +78.4% |
| Other amounts receivable | 41 | €16,615 | €12,594 | -€4,021 | -24.2% |
| Cash at bank and in hand | 54/58 | €37,089 | €39,224 | +€2,135 | +5.8% |
| Deferred charges and accrued income | 490/1 | €1,110 | €1,065 | -€45 | -4.0% |
| Total equity and liabilities | 10/49 | €84,363 | €103,236 | +€18,873 | +22.4% |
| Equity | 10/15 | €58,248 | €76,492 | +€18,244 | +31.3% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | €45,600 | €63,800 | +€18,200 | +39.9% |
| Distributable reserves | 133 | €45,600 | €63,800 | +€18,200 | +39.9% |
| Profit (loss) carried forward | 14 | €48 | €92 | +€44 | +93.3% |
| Amounts payable | 17/49 | €26,116 | €26,744 | +€629 | +2.4% |
| Amounts payable within one year | 42/48 | €26,116 | €26,744 | +€629 | +2.4% |
| Trade debts | 44 | €13,414 | €11,636 | -€1,778 | -13.3% |
| Suppliers | 440/4 | €13,414 | €11,636 | -€1,778 | -13.3% |
| Taxes, remuneration and social security | 45 | €5,940 | €11,551 | +€5,610 | +94.4% |
| Taxes | 450/3 | €4,836 | €9,898 | +€5,062 | +104.7% |
| Remuneration and social security | 454/9 | €1,104 | €1,652 | +€548 | +49.7% |
| Other amounts payable | 47/48 | €6,761 | €3,558 | -€3,204 | -47.4% |
| Remuneration, social security and pensions | 62 | €26,506 | €18,978 | -€7,528 | -28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €537 | €894 | +€357 | +66.6% |
| Other operating charges | 640/8 | €950 | €1,146 | +€196 | +20.6% |
| Gross operating margin | 9900 | €47,599 | €49,693 | +€2,094 | +4.4% |
| Operating profit (loss) | 9901 | €19,606 | €28,675 | +€9,069 | +46.3% |
| Financial charges | 65/66B | €247 | €199 | -€48 | -19.3% |
| Recurring financial charges | 65 | €247 | €199 | -€48 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €19,359 | €28,476 | +€9,117 | +47.1% |
| Income taxes | 67/77 | €7,196 | €10,232 | +€3,036 | +42.2% |
| Profit (loss) for the period | 9904 | €12,164 | €18,244 | +€6,081 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,164 | €18,244 | +€6,081 | +50.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.