PROGENUS: 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.
PROGENUS
Largest movements
- Cash -€126,015
down €126,015 (-52.1%), from €242,050 to €116,035
mainly Receivables within one year (-€117,891) and Tax, wage and social debts (-€114,872)
- Receivables within one year +€117,891
up €117,891 (+17.5%), from €673,659 to €791,550
of which Trade receivables: +€148,854
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets -€52,408
down €52,408 (-21.2%), from €247,699 to €195,291
- Stocks and contracts +€41,150
up €41,150 (+41.9%), from €98,199 to €139,350
- Tax, wage and social debts -€114,872
down €114,872 (-45.8%), from €250,793 to €135,921
of which Remuneration and social security: -€62,743
- Trade debts -€52,914
down €52,914 (-37.9%), from €139,616 to €86,702
- Debts after one year -€33,046
down €33,046 (-25.7%), from €128,490 to €95,445
- Accrued charges and deferred income +€20,976
up €20,976 (+44.0%), from €47,673 to €68,650
- Other debts +€20,453
up €20,453 (+8596.1%), from €238 to €20,691
- Gross operating margin -€139,598
down €139,598 (-10.1%), from €1.4m to €1.2m
- Write-downs +€112,500
new in 2025: €112,500
- Staff costs -€48,529
down €48,529 (-4.8%), from €1.0m to €961,132
- Taxes -€22,810
down €22,810 (-44.4%), from €51,390 to €28,580
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 | €1,567,493 | €1,413,019 | -€154,473 | -9.9% |
| Fixed assets | 21/28 | €257,636 | €199,310 | -€58,326 | -22.6% |
| Intangible fixed assets | 21 | €7,638 | €1,720 | -€5,918 | -77.5% |
| Tangible fixed assets | 22/27 | €247,699 | €195,291 | -€52,408 | -21.2% |
| Land and buildings | 22 | €70,427 | €66,123 | -€4,303 | -6.1% |
| Plant, machinery and equipment | 23 | €81,261 | €56,084 | -€25,177 | -31.0% |
| Furniture and vehicles | 24 | €70,514 | €44,845 | -€25,669 | -36.4% |
| Other tangible fixed assets | 26 | €18,821 | €28,238 | +€9,417 | +50.0% |
| Assets under construction and advance payments | 27 | €6,676 | - | -€6,676 | |
| Financial fixed assets | 28 | €2,299 | €2,299 | = | 0.0% |
| Current assets | 29/58 | €1,309,857 | €1,213,709 | -€96,147 | -7.3% |
| Amounts receivable after more than one year | 29 | €39,494 | €32,498 | -€6,996 | -17.7% |
| Other amounts receivable | 291 | €39,494 | €32,498 | -€6,996 | -17.7% |
| Stocks and contracts in progress | 3 | €98,199 | €139,350 | +€41,150 | +41.9% |
| Stocks | 30/36 | €98,199 | €139,350 | +€41,150 | +41.9% |
| Amounts receivable within one year | 40/41 | €673,659 | €791,550 | +€117,891 | +17.5% |
| Trade receivables | 40 | €538,916 | €687,770 | +€148,854 | +27.6% |
| Other amounts receivable | 41 | €134,743 | €103,780 | -€30,963 | -23.0% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €242,050 | €116,035 | -€126,015 | -52.1% |
| Deferred charges and accrued income | 490/1 | €156,454 | €134,277 | -€22,177 | -14.2% |
| Total equity and liabilities | 10/49 | €1,567,493 | €1,413,019 | -€154,473 | -9.9% |
| Equity | 10/15 | €952,540 | €972,566 | +€20,026 | +2.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €100,691 | €120,000 | +€19,309 | +19.2% |
| Non-distributable reserves | 130/1 | €56,410 | €49,494 | -€6,916 | -12.3% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Financial assistance | 1313 | €46,410 | €39,494 | -€6,916 | -14.9% |
| Distributable reserves | 133 | €44,280 | €70,506 | +€26,226 | +59.2% |
| Profit (loss) carried forward | 14 | €744,187 | €745,383 | +€1,195 | +0.2% |
| Investment grants | 15 | €7,662 | €7,183 | -€479 | -6.2% |
| Amounts payable | 17/49 | €614,953 | €440,454 | -€174,499 | -28.4% |
| Amounts payable after more than one year | 17 | €128,490 | €95,445 | -€33,046 | -25.7% |
| Financial debts | 170/4 | €128,490 | €95,445 | -€33,046 | -25.7% |
| Amounts payable within one year | 42/48 | €438,789 | €276,359 | -€162,430 | -37.0% |
| Current portion of amounts payable after more than one year | 42 | €48,142 | €33,046 | -€15,096 | -31.4% |
| Trade debts | 44 | €139,616 | €86,702 | -€52,914 | -37.9% |
| Suppliers | 440/4 | €139,616 | €86,702 | -€52,914 | -37.9% |
| Taxes, remuneration and social security | 45 | €250,793 | €135,921 | -€114,872 | -45.8% |
| Taxes | 450/3 | €75,369 | €23,239 | -€52,130 | -69.2% |
| Remuneration and social security | 454/9 | €175,424 | €112,682 | -€62,743 | -35.8% |
| Other amounts payable | 47/48 | €238 | €20,691 | +€20,453 | +8596.1% |
| Accrued charges and deferred income | 492/3 | €47,673 | €68,650 | +€20,976 | +44.0% |
| Non-recurring operating income | 76A | €8,047 | €875 | -€7,173 | -89.1% |
| Remuneration, social security and pensions | 62 | €1,009,661 | €961,132 | -€48,529 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,847 | €87,541 | -€2,306 | -2.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €112,500 | +€112,500 | |
| Other operating charges | 640/8 | €7,820 | €5,735 | -€2,085 | -26.7% |
| Non-recurring operating charges | 66A | €15,020 | €575 | -€14,445 | -96.2% |
| Gross operating margin | 9900 | €1,378,155 | €1,238,557 | -€139,598 | -10.1% |
| Operating profit (loss) | 9901 | €255,808 | €71,074 | -€184,734 | -72.2% |
| Financial income | 75/76B | €1,721 | €6,131 | +€4,410 | +256.3% |
| Recurring financial income | 75 | €1,721 | €6,131 | +€4,410 | +256.3% |
| Financial charges | 65/66B | €6,207 | €7,430 | +€1,222 | +19.7% |
| Recurring financial charges | 65 | €6,207 | €7,430 | +€1,222 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | €251,321 | €69,775 | -€181,546 | -72.2% |
| Income taxes | 67/77 | €51,390 | €28,580 | -€22,810 | -44.4% |
| Profit (loss) for the period | 9904 | €199,931 | €41,195 | -€158,736 | -79.4% |
| Profit (loss) for the period to be appropriated | 9905 | €199,931 | €41,195 | -€158,736 | -79.4% |
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 11 October 2026 via checked.be.