PROGERCO: 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.
PROGERCO
Largest movements
- Stocks and contracts -€1.3m
down €1.3m (-90.1%), from €1.4m to €140,782
- Receivables within one year -€979,388
down €979,388 (-95.9%), from €1.0m to €42,249
of which Trade receivables: -€977,956
- Cash -€37,583
down €37,583 (-95.6%), from €39,324 to €1,741
mainly Short-term financial debts (-€1.7m) and Trade debts (-€222,459)
- Tangible fixed assets -€36,252
down €36,252 (-3.5%), from €1.0m to €998,994
of which Other tangible fixed assets: -€33,632
- Short-term financial debts -€1.7m
down €1.7m (-96.3%), from €1.7m to €64,300
of which Credit institutions: -€1.7m
- Trade debts -€222,459
down €222,459 (-84.0%), from €264,868 to €42,409
- Advances received -€218,195
down €218,195 (-87.9%), from €248,252 to €30,057
- Profit (loss) carried forward -€214,993
down €214,993 (-176%), from -€122,456 to -€337,449
- Other debts +€98,370
up €98,370 (+17.4%), from €564,918 to €663,289
- Gross operating margin -€255,642
down €255,642, from €188,833 to -€66,810
- Financial charges -€26,775
down €26,775 (-26.5%), from €101,104 to €74,330
- Financial income -€7,855
down €7,855 (-90.6%), from €8,667 to €812
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 | €3,518,925 | €1,195,639 | -€2.3m | -66.0% |
| Fixed assets | 21/28 | €1,035,246 | €998,994 | -€36,252 | -3.5% |
| Tangible fixed assets | 22/27 | €1,035,246 | €998,994 | -€36,252 | -3.5% |
| Furniture and vehicles | 24 | €7,426 | €4,806 | -€2,620 | -35.3% |
| Other tangible fixed assets | 26 | €1,027,820 | €994,188 | -€33,632 | -3.3% |
| Current assets | 29/58 | €2,483,679 | €196,645 | -€2.3m | -92.1% |
| Stocks and contracts in progress | 3 | €1,417,402 | €140,782 | -€1.3m | -90.1% |
| Stocks | 30/36 | €1,417,402 | €140,782 | -€1.3m | -90.1% |
| Amounts receivable within one year | 40/41 | €1,021,637 | €42,249 | -€979,388 | -95.9% |
| Trade receivables | 40 | €1,020,132 | €42,176 | -€977,956 | -95.9% |
| Other amounts receivable | 41 | €1,505 | €73 | -€1,432 | -95.1% |
| Cash at bank and in hand | 54/58 | €39,324 | €1,741 | -€37,583 | -95.6% |
| Deferred charges and accrued income | 490/1 | €5,317 | €11,873 | +€6,556 | +123% |
| Total equity and liabilities | 10/49 | €3,518,925 | €1,195,639 | -€2.3m | -66.0% |
| Equity | 10/15 | €175,815 | -€39,178 | -€214,993 | |
| Contributions | 10/11 | €284,000 | €284,000 | = | 0.0% |
| Capital | 10 | €284,000 | €284,000 | = | 0.0% |
| Issued capital | 100 | €284,000 | €284,000 | = | 0.0% |
| Reserves | 13 | €14,271 | €14,271 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,271 | €14,271 | = | 0.0% |
| Legal reserve | 130 | €14,271 | €14,271 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€122,456 | -€337,449 | -€214,993 | -176% |
| Amounts payable | 17/49 | €3,343,110 | €1,234,817 | -€2.1m | -63.1% |
| Amounts payable after more than one year | 17 | €420,049 | €371,390 | -€48,660 | -11.6% |
| Financial debts | 170/4 | €418,549 | €369,890 | -€48,660 | -11.6% |
| Other amounts payable | 178/9 | €1,500 | €1,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,920,495 | €860,788 | -€2.1m | -70.5% |
| Current portion of amounts payable after more than one year | 42 | €52,625 | €48,660 | -€3,965 | -7.5% |
| Financial debts | 43 | €1,737,587 | €64,300 | -€1.7m | -96.3% |
| Credit institutions | 430/8 | €1,676,958 | €33 | -€1.7m | -100.0% |
| Other loans | 439 | €60,629 | €64,267 | +€3,638 | +6.0% |
| Trade debts | 44 | €264,868 | €42,409 | -€222,459 | -84.0% |
| Suppliers | 440/4 | €264,868 | €42,409 | -€222,459 | -84.0% |
| Advances received on contracts in progress | 46 | €248,252 | €30,057 | -€218,195 | -87.9% |
| Taxes, remuneration and social security | 45 | €52,245 | €12,075 | -€40,170 | -76.9% |
| Taxes | 450/3 | €52,245 | €12,075 | -€40,170 | -76.9% |
| Other amounts payable | 47/48 | €564,918 | €663,289 | +€98,370 | +17.4% |
| Accrued charges and deferred income | 492/3 | €2,566 | €2,639 | +€73 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,032 | €36,252 | +€220 | +0.6% |
| Other operating charges | 640/8 | €39,767 | €38,414 | -€1,354 | -3.4% |
| Gross operating margin | 9900 | €188,833 | -€66,810 | -€255,642 | |
| Operating profit (loss) | 9901 | €113,034 | -€141,475 | -€254,509 | |
| Financial income | 75/76B | €8,667 | €812 | -€7,855 | -90.6% |
| Recurring financial income | 75 | €8,667 | €812 | -€7,855 | -90.6% |
| Financial charges | 65/66B | €101,104 | €74,330 | -€26,775 | -26.5% |
| Recurring financial charges | 65 | €101,104 | €74,330 | -€26,775 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €20,596 | -€214,993 | -€235,589 | |
| Profit (loss) for the period | 9904 | €20,596 | -€214,993 | -€235,589 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,596 | -€214,993 | -€235,589 |
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 14 October 2026 via checked.be.