PROGICON: 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.
PROGICON
Largest movements
- Stocks and contracts +€215,500
up €215,500 (+56.5%), from €381,455 to €596,954
of which Contracts in progress: +€301,277
- Receivables within one year -€81,810
down €81,810 (-22.9%), from €356,855 to €275,045
of which Trade receivables: -€105,585
- Cash -€40,785
down €40,785 (-20.2%), from €201,888 to €161,103
mainly Stocks and contracts (-€215,500) and Debts after one year (-€181,853)
- Tangible fixed assets -€39,387
down €39,387 (-8.2%), from €479,612 to €440,226
of which Furniture and vehicles: -€53,289
- Debts after one year -€181,853
down €181,853 (-52.3%), from €347,493 to €165,640
- Other debts +€105,611
up €105,611 (+94.9%), from €111,229 to €216,840
- Current portion of long-term debt +€80,727
up €80,727 (+66.2%), from €122,014 to €202,740
- Tax, wage and social debts +€41,741
up €41,741 (+53.0%), from €78,755 to €120,496
of which Remuneration and social security: +€64,837
- Reserves +€28,815
up €28,815 (+10.2%), from €282,219 to €311,034
- Turnover -€2.4m
no longer reported in 2025 (was €2.4m)
- Purchases and services -€1.4m
no longer reported in 2025 (was €1.4m)
- Staff costs +€130,992
up €130,992 (+23.9%), from €547,276 to €678,267
- Financial income -€27,360
down €27,360 (-98.8%), from €27,688 to €328
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 | €1,430,234 | €1,489,786 | +€59,552 | +4.2% |
| Fixed assets | 21/28 | €482,225 | €441,755 | -€40,470 | -8.4% |
| Intangible fixed assets | 21 | €2,613 | €1,530 | -€1,083 | -41.4% |
| Tangible fixed assets | 22/27 | €479,612 | €440,226 | -€39,387 | -8.2% |
| Land and buildings | 22 | €48,388 | €21,000 | -€27,388 | -56.6% |
| Plant, machinery and equipment | 23 | €4,987 | €17,561 | +€12,574 | +252.1% |
| Furniture and vehicles | 24 | €242,994 | €189,704 | -€53,289 | -21.9% |
| Leasing and similar rights | 25 | - | €26,808 | +€26,808 | |
| Other tangible fixed assets | 26 | €183,243 | €185,152 | +€1,909 | +1.0% |
| Current assets | 29/58 | €948,009 | €1,048,031 | +€100,022 | +10.6% |
| Stocks and contracts in progress | 3 | €381,455 | €596,954 | +€215,500 | +56.5% |
| Stocks | 30/36 | €286,738 | €200,960 | -€85,778 | -29.9% |
| Contracts in progress | 37 | €94,716 | €395,994 | +€301,277 | +318.1% |
| Amounts receivable within one year | 40/41 | €356,855 | €275,045 | -€81,810 | -22.9% |
| Trade receivables | 40 | €340,564 | €234,979 | -€105,585 | -31.0% |
| Other amounts receivable | 41 | €16,291 | €40,066 | +€23,775 | +145.9% |
| Cash at bank and in hand | 54/58 | €201,888 | €161,103 | -€40,785 | -20.2% |
| Deferred charges and accrued income | 490/1 | €7,811 | €14,929 | +€7,117 | +91.1% |
| Total equity and liabilities | 10/49 | €1,430,234 | €1,489,786 | +€59,552 | +4.2% |
| Equity | 10/15 | €468,587 | €497,258 | +€28,670 | +6.1% |
| Contributions | 10/11 | €82,000 | €82,000 | = | 0.0% |
| Reserves | 13 | €282,219 | €311,034 | +€28,815 | +10.2% |
| Distributable reserves | 133 | €282,219 | €311,034 | +€28,815 | +10.2% |
| Profit (loss) carried forward | 14 | €104,224 | €104,224 | = | 0.0% |
| Investment grants | 15 | €144 | €0 | -€144 | -100.0% |
| Amounts payable | 17/49 | €961,647 | €992,529 | +€30,882 | +3.2% |
| Amounts payable after more than one year | 17 | €347,493 | €165,640 | -€181,853 | -52.3% |
| Financial debts | 170/4 | €347,493 | €165,640 | -€181,853 | -52.3% |
| Amounts payable within one year | 42/48 | €614,154 | €826,889 | +€212,735 | +34.6% |
| Current portion of amounts payable after more than one year | 42 | €122,014 | €202,740 | +€80,727 | +66.2% |
| Financial debts | 43 | €80 | €0 | -€80 | -100.0% |
| Credit institutions | 430/8 | €80 | €0 | -€80 | -100.0% |
| Trade debts | 44 | €302,076 | €286,812 | -€15,264 | -5.1% |
| Suppliers | 440/4 | €302,076 | €286,812 | -€15,264 | -5.1% |
| Taxes, remuneration and social security | 45 | €78,755 | €120,496 | +€41,741 | +53.0% |
| Taxes | 450/3 | €78,145 | €55,049 | -€23,096 | -29.6% |
| Remuneration and social security | 454/9 | €610 | €65,447 | +€64,837 | +10631.8% |
| Other amounts payable | 47/48 | €111,229 | €216,840 | +€105,611 | +94.9% |
| Turnover | 70 | €2,352,938 | - | -€2.4m | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,403,631 | - | -€1.4m | |
| Remuneration, social security and pensions | 62 | €547,276 | €678,267 | +€130,992 | +23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,361 | €120,165 | +€6,804 | +6.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,259 | €3,188 | +€929 | +41.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €876,208 | €875,740 | -€468 | -0.1% |
| Operating profit (loss) | 9901 | €213,313 | €74,120 | -€139,193 | -65.3% |
| Financial income | 75/76B | €27,688 | €328 | -€27,360 | -98.8% |
| Recurring financial income | 75 | €27,688 | €328 | -€27,360 | -98.8% |
| Financial charges | 65/66B | €21,251 | €26,510 | +€5,259 | +24.7% |
| Recurring financial charges | 65 | €21,251 | €26,510 | +€5,259 | +24.7% |
| Profit (loss) for the period before taxes | 9903 | €219,750 | €47,938 | -€171,811 | -78.2% |
| Income taxes | 67/77 | €41,098 | €19,124 | -€21,974 | -53.5% |
| Profit (loss) for the period | 9904 | €178,652 | €28,815 | -€149,837 | -83.9% |
| Profit (loss) for the period to be appropriated | 9905 | €178,652 | €28,815 | -€149,837 | -83.9% |
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 10 October 2026 via checked.be.