PROGERI: 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.
PROGERI
Largest movements
- Cash -€78,740
down €78,740 (-25.5%), from €308,352 to €229,611
- Receivables within one year +€38,093
up €38,093 (+80.1%), from €47,544 to €85,637
of which Other amounts receivable: +€43,121
- Tangible fixed assets -€29,646
down €29,646 (-24.7%), from €119,815 to €90,169
- Current portion of long-term debt -€39,075
no longer reported in 2025 (was €39,075)
- Debts after one year -€18,473
no longer reported in 2025 (was €18,473)
- Reserves -€17,636
down €17,636 (-27.5%), from €64,048 to €46,412
of which Tax-exempt reserves: -€17,636
- Provisions -€8,376
down €8,376 (-28.5%), from €29,420 to €21,044
- Tax, wage and social debts +€7,585
up €7,585 (+415%), from €1,827 to €9,412
of which Taxes: +€9,412
- Gross operating margin -€62,513
down €62,513, from €61,458 to -€1,055
- Financial income +€4,868
new in 2025: €4,868
- Other operating charges -€2,527
down €2,527 (-75.5%), from €3,345 to €819
- Financial charges -€2,088
down €2,088 (-49.9%), from €4,181 to €2,093
- Taxes +€1,509
up €1,509 (+82.6%), from €1,827 to €3,336
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €491,209 | €420,916 | -€70,294 | -14.3% |
| Fixed assets | 21/28 | €135,313 | €105,667 | -€29,646 | -21.9% |
| Tangible fixed assets | 22/27 | €119,815 | €90,169 | -€29,646 | -24.7% |
| Land and buildings | 22 | €119,815 | €90,169 | -€29,646 | -24.7% |
| Financial fixed assets | 28 | €15,498 | €15,498 | = | 0.0% |
| Current assets | 29/58 | €355,896 | €315,249 | -€40,648 | -11.4% |
| Amounts receivable within one year | 40/41 | €47,544 | €85,637 | +€38,093 | +80.1% |
| Trade receivables | 40 | €5,028 | - | -€5,028 | |
| Other amounts receivable | 41 | €42,516 | €85,637 | +€43,121 | +101% |
| Cash at bank and in hand | 54/58 | €308,352 | €229,611 | -€78,740 | -25.5% |
| Total equity and liabilities | 10/49 | €491,209 | €420,916 | -€70,294 | -14.3% |
| Equity | 10/15 | €397,071 | €384,701 | -€12,370 | -3.1% |
| Contributions | 10/11 | €21,071 | €21,071 | = | 0.0% |
| Capital | 10 | €21,071 | €21,071 | = | 0.0% |
| Issued capital | 100 | €21,071 | €21,071 | = | 0.0% |
| Reserves | 13 | €64,048 | €46,412 | -€17,636 | -27.5% |
| Non-distributable reserves | 130/1 | €2,107 | €2,107 | = | 0.0% |
| Legal reserve | 130 | €2,107 | €2,107 | = | 0.0% |
| Tax-exempt reserves | 132 | €61,941 | €44,305 | -€17,636 | -28.5% |
| Profit (loss) carried forward | 14 | €311,953 | €317,218 | +€5,265 | +1.7% |
| Provisions and deferred taxes | 16 | €29,420 | €21,044 | -€8,376 | -28.5% |
| Deferred taxes | 168 | €29,420 | €21,044 | -€8,376 | -28.5% |
| Amounts payable | 17/49 | €64,718 | €15,171 | -€49,547 | -76.6% |
| Amounts payable after more than one year | 17 | €18,473 | - | -€18,473 | |
| Financial debts | 170/4 | €18,473 | - | -€18,473 | |
| Amounts payable within one year | 42/48 | €46,245 | €15,171 | -€31,074 | -67.2% |
| Current portion of amounts payable after more than one year | 42 | €39,075 | - | -€39,075 | |
| Trade debts | 44 | €5,343 | €5,759 | +€416 | +7.8% |
| Suppliers | 440/4 | €5,343 | €5,759 | +€416 | +7.8% |
| Taxes, remuneration and social security | 45 | €1,827 | €9,412 | +€7,585 | +415% |
| Taxes | 450/3 | - | €9,412 | +€9,412 | |
| Remuneration and social security | 454/9 | €1,827 | - | -€1,827 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,722 | €18,374 | +€652 | +3.7% |
| Other operating charges | 640/8 | €3,345 | €819 | -€2,527 | -75.5% |
| Gross operating margin | 9900 | €61,458 | -€1,055 | -€62,513 | |
| Operating profit (loss) | 9901 | €40,391 | -€20,247 | -€60,638 | |
| Financial income | 75/76B | - | €4,868 | +€4,868 | |
| Recurring financial income | 75 | - | €4,868 | +€4,868 | |
| Financial charges | 65/66B | €4,181 | €2,093 | -€2,088 | -49.9% |
| Recurring financial charges | 65 | €4,181 | €2,093 | -€2,088 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | €36,210 | -€17,472 | -€53,682 | |
| Transfer from deferred taxes | 780 | - | €5,202 | +€5,202 | |
| Income taxes | 67/77 | €1,827 | €3,336 | +€1,509 | +82.6% |
| Profit (loss) for the period | 9904 | €34,383 | -€15,606 | -€49,988 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,383 | -€15,606 | -€49,988 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.