Progress: 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.
Progress
Largest movements
- Stocks and contracts -€253,480
down €253,480 (-34.0%), from €746,318 to €492,838
of which Contracts in progress: -€138,997
- Receivables within one year +€54,800
up €54,800 (+48.6%), from €112,773 to €167,573
of which Trade receivables: +€35,083
- Cash -€19,493
down €19,493 (-70.0%), from €27,854 to €8,361
mainly Short-term financial debts (-€162,655) and Net result for the year (-€158,136)
- Short-term financial debts -€162,655
down €162,655 (-31.5%), from €516,577 to €353,922
- Profit (loss) carried forward -€142,075
down €142,075, from €0 to -€142,075
- Trade debts +€73,315
up €73,315 (+61.7%), from €118,729 to €192,044
- Debts after one year +€32,480
up €32,480, from €0 to €32,480
- Other debts -€20,952
down €20,952 (-100%), from €20,952 to €0
- Gross operating margin -€71,183
down €71,183 (-44.3%), from €160,674 to €89,491
- Staff costs +€63,392
up €63,392 (+55.6%), from €113,996 to €177,388
- Financial charges +€25,186
up €25,186 (+103%), from €24,493 to €49,679
- Other operating charges +€14,287
up €14,287 (+120%), from €11,857 to €26,144
- Write-downs -€13,332
down €13,332, from €2,607 to -€10,726
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €894,437 | €673,072 | -€221,365 | -24.7% |
| Fixed assets | 21/28 | €4,697 | €1,723 | -€2,974 | -63.3% |
| Tangible fixed assets | 22/27 | €4,487 | €1,513 | -€2,974 | -66.3% |
| Plant, machinery and equipment | 23 | €1,475 | €1,325 | -€150 | -10.2% |
| Furniture and vehicles | 24 | €2,017 | €188 | -€1,828 | -90.7% |
| Leasing and similar rights | 25 | €995 | €0 | -€995 | -100% |
| Financial fixed assets | 28 | €210 | €210 | = | 0.0% |
| Current assets | 29/58 | €889,740 | €671,349 | -€218,391 | -24.5% |
| Stocks and contracts in progress | 3 | €746,318 | €492,838 | -€253,480 | -34.0% |
| Stocks | 30/36 | €335,400 | €220,917 | -€114,483 | -34.1% |
| Contracts in progress | 37 | €410,918 | €271,921 | -€138,997 | -33.8% |
| Amounts receivable within one year | 40/41 | €112,773 | €167,573 | +€54,800 | +48.6% |
| Trade receivables | 40 | €89,799 | €124,882 | +€35,083 | +39.1% |
| Other amounts receivable | 41 | €22,974 | €42,690 | +€19,717 | +85.8% |
| Cash at bank and in hand | 54/58 | €27,854 | €8,361 | -€19,493 | -70.0% |
| Deferred charges and accrued income | 490/1 | €2,796 | €2,577 | -€218 | -7.8% |
| Total equity and liabilities | 10/49 | €894,437 | €673,072 | -€221,365 | -24.7% |
| Equity | 10/15 | €213,495 | €55,359 | -€158,136 | -74.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €201,095 | €185,034 | -€16,061 | -8.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €13,149 | €13,149 | = | 0.0% |
| Distributable reserves | 133 | €187,945 | €171,884 | -€16,061 | -8.5% |
| Profit (loss) carried forward | 14 | €0 | -€142,075 | -€142,075 | |
| Amounts payable | 17/49 | €680,942 | €617,713 | -€63,229 | -9.3% |
| Amounts payable after more than one year | 17 | €0 | €32,480 | +€32,480 | |
| Financial debts | 170/4 | €0 | €32,480 | +€32,480 | |
| Amounts payable within one year | 42/48 | €676,173 | €578,733 | -€97,440 | -14.4% |
| Current portion of amounts payable after more than one year | 42 | €2,393 | €12,387 | +€9,994 | +418% |
| Financial debts | 43 | €516,577 | €353,922 | -€162,655 | -31.5% |
| Credit institutions | 430/8 | €516,577 | €353,922 | -€162,655 | -31.5% |
| Trade debts | 44 | €118,729 | €192,044 | +€73,315 | +61.7% |
| Suppliers | 440/4 | €118,729 | €192,044 | +€73,315 | +61.7% |
| Taxes, remuneration and social security | 45 | €17,522 | €20,380 | +€2,858 | +16.3% |
| Taxes | 450/3 | €11,684 | €0 | -€11,684 | -100% |
| Remuneration and social security | 454/9 | €5,838 | €20,380 | +€14,543 | +249% |
| Other amounts payable | 47/48 | €20,952 | €0 | -€20,952 | -100% |
| Accrued charges and deferred income | 492/3 | €4,769 | €6,500 | +€1,731 | +36.3% |
| Remuneration, social security and pensions | 62 | €113,996 | €177,388 | +€63,392 | +55.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,288 | €4,474 | -€9,815 | -68.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,607 | -€10,726 | -€13,332 | |
| Other operating charges | 640/8 | €11,857 | €26,144 | +€14,287 | +120% |
| Gross operating margin | 9900 | €160,674 | €89,491 | -€71,183 | -44.3% |
| Operating profit (loss) | 9901 | €17,926 | -€107,789 | -€125,715 | |
| Financial income | 75/76B | €1,623 | €562 | -€1,062 | -65.4% |
| Recurring financial income | 75 | €1,623 | €562 | -€1,062 | -65.4% |
| Financial charges | 65/66B | €24,493 | €49,679 | +€25,186 | +103% |
| Recurring financial charges | 65 | €24,493 | €49,679 | +€25,186 | +103% |
| Profit (loss) for the period before taxes | 9903 | -€4,943 | -€156,906 | -€151,963 | -3,074% |
| Income taxes | 67/77 | €412 | €1,229 | +€817 | +198% |
| Profit (loss) for the period | 9904 | -€5,355 | -€158,136 | -€152,780 | -2,853% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,355 | -€158,136 | -€152,780 | -2,853% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.