PROGEO: 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.
PROGEO
Largest movements
- Receivables within one year +€30,362
up €30,362 (+33.0%), from €92,086 to €122,448
of which Trade receivables: +€20,693
- Tangible fixed assets -€7,300
down €7,300 (-34.8%), from €20,960 to €13,660
- Deferred charges and accrued income -€3,301
down €3,301 (-20.3%), from €16,222 to €12,921
- Tax, wage and social debts +€20,761
up €20,761 (+101.5%), from €20,451 to €41,213
of which Taxes: +€20,761
- Trade debts +€15,958
up €15,958 (+100.1%), from €15,935 to €31,893
- Short-term financial debts -€10,612
down €10,612 (-36.8%), from €28,869 to €18,257
of which Other loans: -€14,149
- Debts after one year -€7,488
down €7,488 (-43.1%), from €17,392 to €9,904
- Profit (loss) carried forward +€6,164
up €6,164 (+19.8%), from €31,135 to €37,299
- Gross operating margin +€60,112
up €60,112, from -€25,758 to €34,354
- Financial charges +€6,340
up €6,340 (+168.5%), from €3,762 to €10,102
- Other operating charges +€5,500
up €5,500 (+129.9%), from €4,232 to €9,732
- Taxes +€4,455
up €4,455 (+1364.5%), from €326 to €4,781
- Depreciation +€2,409
up €2,409 (+49.3%), from €4,891 to €7,300
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 | €129,843 | €149,529 | +€19,686 | +15.2% |
| Fixed assets | 21/28 | €20,960 | €13,660 | -€7,300 | -34.8% |
| Tangible fixed assets | 22/27 | €20,960 | €13,660 | -€7,300 | -34.8% |
| Furniture and vehicles | 24 | €20,960 | €13,660 | -€7,300 | -34.8% |
| Current assets | 29/58 | €108,882 | €135,869 | +€26,987 | +24.8% |
| Amounts receivable within one year | 40/41 | €92,086 | €122,448 | +€30,362 | +33.0% |
| Trade receivables | 40 | €15,607 | €36,300 | +€20,693 | +132.6% |
| Other amounts receivable | 41 | €76,479 | €86,148 | +€9,669 | +12.6% |
| Current investments | 50/53 | €500 | €500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €75 | €0 | -€75 | -100.0% |
| Deferred charges and accrued income | 490/1 | €16,222 | €12,921 | -€3,301 | -20.3% |
| Total equity and liabilities | 10/49 | €129,843 | €149,529 | +€19,686 | +15.2% |
| Equity | 10/15 | €34,135 | €40,299 | +€6,164 | +18.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,135 | €37,299 | +€6,164 | +19.8% |
| Amounts payable | 17/49 | €95,708 | €109,230 | +€13,522 | +14.1% |
| Amounts payable after more than one year | 17 | €17,392 | €9,904 | -€7,488 | -43.1% |
| Financial debts | 170/4 | €17,392 | €9,904 | -€7,488 | -43.1% |
| Amounts payable within one year | 42/48 | €74,727 | €99,299 | +€24,572 | +32.9% |
| Current portion of amounts payable after more than one year | 42 | €7,887 | €7,936 | +€49 | +0.6% |
| Financial debts | 43 | €28,869 | €18,257 | -€10,612 | -36.8% |
| Credit institutions | 430/8 | €9,721 | €13,258 | +€3,537 | +36.4% |
| Other loans | 439 | €19,148 | €4,999 | -€14,149 | -73.9% |
| Trade debts | 44 | €15,935 | €31,893 | +€15,958 | +100.1% |
| Suppliers | 440/4 | €15,935 | €31,893 | +€15,958 | +100.1% |
| Taxes, remuneration and social security | 45 | €20,451 | €41,213 | +€20,761 | +101.5% |
| Taxes | 450/3 | €20,451 | €41,213 | +€20,761 | +101.5% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €1,584 | €0 | -€1,584 | -100.0% |
| Accrued charges and deferred income | 492/3 | €3,589 | €27 | -€3,561 | -99.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,891 | €7,300 | +€2,409 | +49.3% |
| Other operating charges | 640/8 | €4,232 | €9,732 | +€5,500 | +129.9% |
| Gross operating margin | 9900 | -€25,758 | €34,354 | +€60,112 | |
| Operating profit (loss) | 9901 | -€34,882 | €17,322 | +€52,203 | |
| Financial income | 75/76B | €3,935 | €3,725 | -€210 | -5.3% |
| Recurring financial income | 75 | €3,935 | €3,725 | -€210 | -5.3% |
| Financial charges | 65/66B | €3,762 | €10,102 | +€6,340 | +168.5% |
| Recurring financial charges | 65 | €3,762 | €10,102 | +€6,340 | +168.5% |
| Profit (loss) for the period before taxes | 9903 | -€34,709 | €10,945 | +€45,654 | |
| Income taxes | 67/77 | €326 | €4,781 | +€4,455 | +1364.5% |
| Profit (loss) for the period | 9904 | -€35,035 | €6,164 | +€41,200 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,035 | €6,164 | +€41,200 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.