PROGETRA: 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.
PROGETRA
Largest movements
- Cash +€109,613
up €109,613 (+59.2%), from €185,231 to €294,844
mainly Net result for the year (+€66,820) and Receivables within one year (+€51,562)
- Receivables within one year -€51,562
down €51,562 (-17.4%), from €295,491 to €243,929
of which Trade receivables: -€51,048
- Tangible fixed assets -€15,755
down €15,755 (-6.2%), from €252,106 to €236,351
of which Land and buildings: -€9,597
- Reserves +€50,052
up €50,052 (+10.9%), from €457,458 to €507,509
of which Distributable reserves: +€66,820
- Trade debts -€20,579
down €20,579 (-90.6%), from €22,716 to €2,137
- Provisions +€16,768
up €16,768 (+26.6%), from €62,942 to €79,710
of which Deferred taxes: +€16,768
- Other debts +€13,198
up €13,198 (+31.1%), from €42,487 to €55,685
- Debts after one year -€8,187
down €8,187 (-20.7%), from €39,498 to €31,311
of which Financial debts: -€7,387
- Gross operating margin -€60,096
down €60,096 (-37.3%), from €161,304 to €101,208
- Taxes -€14,613
down €14,613 (-30.8%), from €47,401 to €32,788
- Financial income +€10,002
up €10,002 (+50.0%), from €20,012 to €30,015
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 | €735,885 | €781,913 | +€46,028 | +6.3% |
| Fixed assets | 21/28 | €253,306 | €241,311 | -€11,994 | -4.7% |
| Intangible fixed assets | 21 | - | €4,960 | +€4,960 | |
| Tangible fixed assets | 22/27 | €252,106 | €236,351 | -€15,755 | -6.2% |
| Land and buildings | 22 | €229,204 | €219,606 | -€9,597 | -4.2% |
| Furniture and vehicles | 24 | €22,902 | €16,745 | -€6,157 | -26.9% |
| Financial fixed assets | 28 | €1,200 | - | -€1,200 | |
| Current assets | 29/58 | €482,579 | €540,601 | +€58,022 | +12.0% |
| Amounts receivable within one year | 40/41 | €295,491 | €243,929 | -€51,562 | -17.4% |
| Trade receivables | 40 | €89,388 | €38,340 | -€51,048 | -57.1% |
| Other amounts receivable | 41 | €206,102 | €205,589 | -€514 | -0.2% |
| Cash at bank and in hand | 54/58 | €185,231 | €294,844 | +€109,613 | +59.2% |
| Deferred charges and accrued income | 490/1 | €1,857 | €1,828 | -€29 | -1.6% |
| Total equity and liabilities | 10/49 | €735,885 | €781,913 | +€46,028 | +6.3% |
| Equity | 10/15 | €523,716 | €574,629 | +€50,912 | +9.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €457,458 | €507,509 | +€50,052 | +10.9% |
| Tax-exempt reserves | 132 | €67,073 | €50,305 | -€16,768 | -25.0% |
| Distributable reserves | 133 | €390,384 | €457,204 | +€66,820 | +17.1% |
| Profit (loss) carried forward | 14 | €46,259 | €46,259 | = | 0.0% |
| Investment grants | 15 | - | €860 | +€860 | |
| Provisions and deferred taxes | 16 | €62,942 | €79,710 | +€16,768 | +26.6% |
| Provisions for liabilities and charges | 160/5 | €62,942 | €62,942 | = | 0.0% |
| Other liabilities and charges | 164/5 | €62,942 | €62,942 | = | 0.0% |
| Deferred taxes | 168 | - | €16,768 | +€16,768 | |
| Amounts payable | 17/49 | €149,226 | €127,574 | -€21,653 | -14.5% |
| Amounts payable after more than one year | 17 | €39,498 | €31,311 | -€8,187 | -20.7% |
| Financial debts | 170/4 | €38,698 | €31,311 | -€7,387 | -19.1% |
| Other amounts payable | 178/9 | €800 | - | -€800 | |
| Amounts payable within one year | 42/48 | €109,728 | €96,262 | -€13,465 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €7,280 | €7,387 | +€107 | +1.5% |
| Trade debts | 44 | €22,716 | €2,137 | -€20,579 | -90.6% |
| Suppliers | 440/4 | €22,716 | €2,137 | -€20,579 | -90.6% |
| Taxes, remuneration and social security | 45 | €37,245 | €31,053 | -€6,192 | -16.6% |
| Taxes | 450/3 | €34,241 | €29,301 | -€4,940 | -14.4% |
| Remuneration and social security | 454/9 | €3,004 | €1,752 | -€1,252 | -41.7% |
| Other amounts payable | 47/48 | €42,487 | €55,685 | +€13,198 | +31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,105 | €15,894 | -€1,210 | -7.1% |
| Other operating charges | 640/8 | €3,427 | €3,933 | +€506 | +14.8% |
| Gross operating margin | 9900 | €161,304 | €101,208 | -€60,096 | -37.3% |
| Operating profit (loss) | 9901 | €140,772 | €81,381 | -€59,392 | -42.2% |
| Financial income | 75/76B | €20,012 | €30,015 | +€10,002 | +50.0% |
| Recurring financial income | 75 | €20,012 | €30,015 | +€10,002 | +50.0% |
| Financial charges | 65/66B | €10,856 | €11,787 | +€932 | +8.6% |
| Recurring financial charges | 65 | €10,856 | €11,787 | +€932 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | €149,929 | €99,608 | -€50,321 | -33.6% |
| Income taxes | 67/77 | €47,401 | €32,788 | -€14,613 | -30.8% |
| Profit (loss) for the period | 9904 | €102,528 | €66,820 | -€35,708 | -34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €102,528 | €66,820 | -€35,708 | -34.8% |
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 8 October 2026 via checked.be.