Progress GD Management: 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 GD Management
Largest movements
- Cash +€9,390
up €9,390 (+131%), from €7,143 to €16,533
mainly Receivables within one year (+€3,370) and Net result for the year (+€3,243)
- Receivables within one year -€3,370
down €3,370 (-14.1%), from €23,977 to €20,607
of which Trade receivables: -€3,694
- Deferred charges and accrued income +€2,539
up €2,539 (+110%), from €2,307 to €4,846
- Reserves +€3,243
up €3,243 (+33.6%), from €9,663 to €12,905
- Tax, wage and social debts +€2,793
up €2,793 (+54.7%), from €5,111 to €7,904
- Trade debts +€2,446
up €2,446 (+145%), from €1,687 to €4,133
- Gross operating margin -€15,545
down €15,545 (-59.5%), from €26,134 to €10,589
- Financial income +€15,502
up €15,502 (+14,428%), from €107 to €15,609
of which Non-recurring financial income: +€15,000
- Taxes +€1,681
up €1,681 (+150%), from €1,120 to €2,801
- Financial charges +€429
up €429 (+2.3%), from €18,263 to €18,691
of which Financial charges: +€15,429
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 | €35,278 | €43,542 | +€8,264 | +23.4% |
| Fixed assets | 21/28 | €1,851 | €1,556 | -€295 | -15.9% |
| Tangible fixed assets | 22/27 | €1,851 | €1,556 | -€295 | -15.9% |
| Furniture and vehicles | 24 | €1,851 | €1,556 | -€295 | -15.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €33,427 | €41,986 | +€8,559 | +25.6% |
| Amounts receivable within one year | 40/41 | €23,977 | €20,607 | -€3,370 | -14.1% |
| Trade receivables | 40 | €15,041 | €11,347 | -€3,694 | -24.6% |
| Other amounts receivable | 41 | €8,936 | €9,259 | +€324 | +3.6% |
| Cash at bank and in hand | 54/58 | €7,143 | €16,533 | +€9,390 | +131% |
| Deferred charges and accrued income | 490/1 | €2,307 | €4,846 | +€2,539 | +110% |
| Total equity and liabilities | 10/49 | €35,278 | €43,542 | +€8,264 | +23.4% |
| Equity | 10/15 | €28,263 | €31,505 | +€3,243 | +11.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,663 | €12,905 | +€3,243 | +33.6% |
| Distributable reserves | 133 | €9,663 | €12,905 | +€3,243 | +33.6% |
| Amounts payable | 17/49 | €7,016 | €12,037 | +€5,021 | +71.6% |
| Amounts payable within one year | 42/48 | €6,798 | €12,037 | +€5,239 | +77.1% |
| Trade debts | 44 | €1,687 | €4,133 | +€2,446 | +145% |
| Suppliers | 440/4 | €1,687 | €4,133 | +€2,446 | +145% |
| Taxes, remuneration and social security | 45 | €5,111 | €7,904 | +€2,793 | +54.7% |
| Taxes | 450/3 | €5,111 | €7,904 | +€2,793 | +54.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €218 | €0 | -€218 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €396 | €295 | -€101 | -25.5% |
| Other operating charges | 640/8 | €1,304 | €1,168 | -€136 | -10.4% |
| Gross operating margin | 9900 | €26,134 | €10,589 | -€15,545 | -59.5% |
| Operating profit (loss) | 9901 | €24,434 | €9,125 | -€15,309 | -62.7% |
| Financial income | 75/76B | €107 | €15,609 | +€15,502 | +14,428% |
| Recurring financial income | 75 | €107 | €609 | +€502 | +467% |
| Non-recurring financial income | 76B | - | €15,000 | +€15,000 | |
| Financial charges | 65/66B | €18,263 | €18,691 | +€429 | +2.3% |
| Recurring financial charges | 65 | €3,263 | €18,691 | +€15,429 | +473% |
| Non-recurring financial charges | 66B | €15,000 | €0 | -€15,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | €6,279 | €6,043 | -€235 | -3.7% |
| Income taxes | 67/77 | €1,120 | €2,801 | +€1,681 | +150% |
| Profit (loss) for the period | 9904 | €5,158 | €3,243 | -€1,916 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,158 | €3,243 | -€1,916 | -37.1% |
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 25 October 2026 via checked.be.