PROGRESS GROUP: 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.
PROGRESS GROUP
Largest movements
- Receivables within one year -€31,607
down €31,607 (-25.9%), from €122,038 to €90,431
of which Trade receivables: -€29,916
- Financial fixed assets -€13,538
down €13,538 (-41.9%), from €32,346 to €18,808
- Cash +€9,685
up €9,685 (+23.8%), from €40,620 to €50,306
mainly Receivables within one year (+€31,607) and Investment in fixed assets (net) (+€13,034)
- Deferred charges and accrued income -€8,375
down €8,375 (-53.4%), from €15,672 to €7,297
- Stocks and contracts +€7,190
up €7,190 (+5.1%), from €140,142 to €147,332
- Short-term financial debts -€40,587
down €40,587 (-50.4%), from €80,587 to €40,000
- Trade debts -€12,374
down €12,374 (-30.5%), from €40,606 to €28,232
- Other debts +€6,802
up €6,802, from €0 to €6,802
- Staff costs +€41,380
up €41,380 (+40.3%), from €102,764 to €144,144
- Gross operating margin +€41,141
up €41,141 (+31.8%), from €129,246 to €170,388
- Financial charges -€3,489
down €3,489 (-40.1%), from €8,710 to €5,221
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 | €358,038 | €317,243 | -€40,795 | -11.4% |
| Fixed assets | 21/28 | €39,566 | €21,877 | -€17,689 | -44.7% |
| Intangible fixed assets | 21 | €4,190 | €2,104 | -€2,086 | -49.8% |
| Tangible fixed assets | 22/27 | €3,029 | €965 | -€2,064 | -68.1% |
| Furniture and vehicles | 24 | €3,029 | €965 | -€2,064 | -68.1% |
| Financial fixed assets | 28 | €32,346 | €18,808 | -€13,538 | -41.9% |
| Current assets | 29/58 | €318,472 | €295,365 | -€23,107 | -7.3% |
| Stocks and contracts in progress | 3 | €140,142 | €147,332 | +€7,190 | +5.1% |
| Stocks | 30/36 | €140,142 | €147,332 | +€7,190 | +5.1% |
| Amounts receivable within one year | 40/41 | €122,038 | €90,431 | -€31,607 | -25.9% |
| Trade receivables | 40 | €115,274 | €85,358 | -€29,916 | -26.0% |
| Other amounts receivable | 41 | €6,764 | €5,073 | -€1,691 | -25.0% |
| Cash at bank and in hand | 54/58 | €40,620 | €50,306 | +€9,685 | +23.8% |
| Deferred charges and accrued income | 490/1 | €15,672 | €7,297 | -€8,375 | -53.4% |
| Total equity and liabilities | 10/49 | €358,038 | €317,243 | -€40,795 | -11.4% |
| Equity | 10/15 | €196,554 | €198,255 | +€1,700 | +0.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €190,354 | €192,055 | +€1,700 | +0.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €188,494 | €190,195 | +€1,700 | +0.9% |
| Amounts payable | 17/49 | €161,484 | €118,988 | -€42,496 | -26.3% |
| Amounts payable after more than one year | 17 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 178/9 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €159,484 | €116,988 | -€42,496 | -26.6% |
| Current portion of amounts payable after more than one year | 42 | €8,264 | €8,403 | +€139 | +1.7% |
| Financial debts | 43 | €80,587 | €40,000 | -€40,587 | -50.4% |
| Credit institutions | 430/8 | €80,587 | €40,000 | -€40,587 | -50.4% |
| Trade debts | 44 | €40,606 | €28,232 | -€12,374 | -30.5% |
| Suppliers | 440/4 | €40,606 | €28,232 | -€12,374 | -30.5% |
| Taxes, remuneration and social security | 45 | €30,028 | €33,551 | +€3,524 | +11.7% |
| Taxes | 450/3 | €30,028 | €28,052 | -€1,975 | -6.6% |
| Remuneration and social security | 454/9 | €0 | €5,499 | +€5,499 | |
| Other amounts payable | 47/48 | €0 | €6,802 | +€6,802 | |
| Non-recurring operating income | 76A | - | €3,826 | +€3,826 | |
| Remuneration, social security and pensions | 62 | €102,764 | €144,144 | +€41,380 | +40.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,222 | €4,654 | -€1,567 | -25.2% |
| Other operating charges | 640/8 | €7,706 | €7,295 | -€411 | -5.3% |
| Non-recurring operating charges | 66A | - | €5,095 | +€5,095 | |
| Gross operating margin | 9900 | €129,246 | €170,388 | +€41,141 | +31.8% |
| Operating profit (loss) | 9901 | €12,555 | €9,199 | -€3,356 | -26.7% |
| Financial income | 75/76B | €121 | €148 | +€27 | +22.7% |
| Recurring financial income | 75 | €121 | €148 | +€27 | +22.7% |
| Financial charges | 65/66B | €8,710 | €5,221 | -€3,489 | -40.1% |
| Recurring financial charges | 65 | €8,710 | €5,221 | -€3,489 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €3,965 | €4,125 | +€160 | +4.0% |
| Income taxes | 67/77 | €3,020 | €2,425 | -€595 | -19.7% |
| Profit (loss) for the period | 9904 | €945 | €1,700 | +€755 | +79.9% |
| Profit (loss) for the period to be appropriated | 9905 | €945 | €1,700 | +€755 | +79.9% |
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 5 October 2026 via checked.be.