Progeno: 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.
Progeno
Largest movements
- Cash -€503,844
down €503,844 (-67.8%), from €743,557 to €239,713
mainly Current investments (-€490,000) and Accrued charges and deferred income (-€81,005)
- Current investments +€490,000
new in 2025: €490,000
- Receivables within one year -€10,846
down €10,846 (-38.9%), from €27,856 to €17,009
of which Other amounts receivable: -€10,981
- Accrued charges and deferred income -€81,005
down €81,005 (-39.0%), from €207,679 to €126,674
- Reserves +€66,280
up €66,280 (+12.8%), from €517,806 to €584,085
- Other debts -€14,219
down €14,219 (-100%), from €14,219 to €0
- Gross operating margin +€27,317
up €27,317 (+27.4%), from €99,861 to €127,178
- Staff costs -€13,025
down €13,025 (-23.2%), from €56,037 to €43,012
- Taxes +€6,508
up €6,508 (+55.4%), from €11,741 to €18,249
- Financial income +€3,794
up €3,794, from €0 to €3,794
- Other operating charges +€1,328
up €1,328 (+142%), from €933 to €2,261
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 | €775,676 | €749,710 | -€25,966 | -3.3% |
| Fixed assets | 21/28 | €3,861 | €1,772 | -€2,089 | -54.1% |
| Tangible fixed assets | 22/27 | €3,719 | €1,630 | -€2,089 | -56.2% |
| Plant, machinery and equipment | 23 | €79 | €0 | -€79 | -100% |
| Furniture and vehicles | 24 | €3,640 | €1,630 | -€2,010 | -55.2% |
| Financial fixed assets | 28 | €142 | €142 | = | 0.0% |
| Current assets | 29/58 | €771,815 | €747,938 | -€23,877 | -3.1% |
| Amounts receivable within one year | 40/41 | €27,856 | €17,009 | -€10,846 | -38.9% |
| Trade receivables | 40 | - | €134 | +€134 | |
| Other amounts receivable | 41 | €27,856 | €16,875 | -€10,981 | -39.4% |
| Current investments | 50/53 | - | €490,000 | +€490,000 | |
| Cash at bank and in hand | 54/58 | €743,557 | €239,713 | -€503,844 | -67.8% |
| Deferred charges and accrued income | 490/1 | €402 | €1,215 | +€813 | +202% |
| Total equity and liabilities | 10/49 | €775,676 | €749,710 | -€25,966 | -3.3% |
| Equity | 10/15 | €536,406 | €602,685 | +€66,280 | +12.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €517,806 | €584,085 | +€66,280 | +12.8% |
| Distributable reserves | 133 | €517,806 | €584,085 | +€66,280 | +12.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €239,270 | €147,024 | -€92,246 | -38.6% |
| Amounts payable within one year | 42/48 | €31,591 | €20,350 | -€11,241 | -35.6% |
| Trade debts | 44 | €1,027 | €2,930 | +€1,903 | +185% |
| Suppliers | 440/4 | €1,027 | €2,930 | +€1,903 | +185% |
| Taxes, remuneration and social security | 45 | €16,344 | €17,420 | +€1,075 | +6.6% |
| Taxes | 450/3 | €1,948 | €17,420 | +€15,472 | +794% |
| Remuneration and social security | 454/9 | €14,397 | €0 | -€14,397 | -100% |
| Other amounts payable | 47/48 | €14,219 | €0 | -€14,219 | -100% |
| Accrued charges and deferred income | 492/3 | €207,679 | €126,674 | -€81,005 | -39.0% |
| Remuneration, social security and pensions | 62 | €56,037 | €43,012 | -€13,025 | -23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,117 | €2,089 | -€28 | -1.3% |
| Other operating charges | 640/8 | €933 | €2,261 | +€1,328 | +142% |
| Gross operating margin | 9900 | €99,861 | €127,178 | +€27,317 | +27.4% |
| Operating profit (loss) | 9901 | €40,775 | €79,816 | +€39,041 | +95.7% |
| Financial income | 75/76B | €0 | €3,794 | +€3,794 | |
| Recurring financial income | 75 | €0 | €3,794 | +€3,794 | |
| Financial charges | 65/66B | €276 | €285 | +€9 | +3.1% |
| Recurring financial charges | 65 | €276 | €285 | +€9 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €40,498 | €83,326 | +€42,827 | +106% |
| Income taxes | 67/77 | €11,741 | €18,249 | +€6,508 | +55.4% |
| Profit (loss) for the period | 9904 | €28,757 | €65,077 | +€36,319 | +126% |
| Profit (loss) for the period to be appropriated | 9905 | €28,757 | €65,077 | +€36,319 | +126% |
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 26 October 2026 via checked.be.