PROGRESSIM: 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.
What changed
PROGRESSIM
NACE 46.190, Agents in non-specialised wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€544,473
2024 · €487,205+€57,268
Equity
€7.8m
2024 · €7.3m+€544,473
Cash
€1.1m
2024 · €443,670+€617,964
Balance sheet total
€8.7m
2024 · €8.1m+€580,405
Largest movements
Assets
- Cash +€617,964
up €617,964 (+139%), from €443,670 to €1.1m
mainly Net result for the year (+€544,473) and Receivables within one year (+€219,230)
- Receivables within one year -€219,230
down €219,230 (-15.2%), from €1.4m to €1.2m
of which Trade receivables: -€243,761
- Stocks and contracts +€121,711
up €121,711 (+74.7%), from €163,028 to €284,739
Equity and liabilities
- Reserves +€544,473
up €544,473 (+9.5%), from €5.7m to €6.3m
of which Distributable reserves: +€460,273
Income statement
- Gross operating margin -€87,944
down €87,944 (-12.9%), from €683,435 to €595,491
- Financial charges -€77,490
down €77,490 (-69.3%), from €111,867 to €34,377
- Financial income +€68,747
up €68,747 (+39.7%), from €173,286 to €242,033
- Taxes -€11,205
down €11,205 (-4.7%), from €235,952 to €224,747
- Depreciation +€9,657
up €9,657 (+60.1%), from €16,071 to €25,728
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.
Result 2024
€487,205
Gross operating margin
-€87,944
Depreciation
-€9,657
Write-downs
+€4,896
Other operating charges
-€7,468
Financial income
+€68,747
Financial charges
+€77,490
Taxes
+€11,205
Result 2025
€544,473
raises the resultlowers the result
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.
From operations
+€717,614
Investment
-€84,090
Financing
-€15,560
Cash 2024
€443,670
From operations (derived)
+€717,614
Net result for the year
+€544,473
Depreciation
+€25,728
Stocks and contracts
-€121,711
Receivables within one year
+€219,230
Deferred charges and accrued income
-€1,598
Trade debts
+€45,328
Tax, wage and social debts
+€6,885
Accrued charges and deferred income
-€721
Investment (derived)
-€84,090
Investment in fixed assets (net)
-€907
Current investments
-€83,183
Financing
-€15,560
Debts after one year
-€18,457
Current portion of long-term debt
+€756
Short-term financial debts
+€2,142
Cash 2025
€1.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,098,158 | €8,678,563 | +€580,405 | +7.2% |
| Fixed assets | 21/28 | €124,643 | €99,822 | -€24,821 | -19.9% |
| Tangible fixed assets | 22/27 | €120,369 | €95,548 | -€24,821 | -20.6% |
| Land and buildings | 22 | €20,679 | €18,413 | -€2,265 | -11.0% |
| Plant, machinery and equipment | 23 | €5,777 | €4,260 | -€1,517 | -26.3% |
| Furniture and vehicles | 24 | €5,498 | €3,406 | -€2,092 | -38.1% |
| Leasing and similar rights | 25 | €88,414 | €69,469 | -€18,946 | -21.4% |
| Financial fixed assets | 28 | €4,275 | €4,275 | = | 0.0% |
| Current assets | 29/58 | €7,973,515 | €8,578,740 | +€605,226 | +7.6% |
| Stocks and contracts in progress | 3 | €163,028 | €284,739 | +€121,711 | +74.7% |
| Stocks | 30/36 | €163,028 | €284,739 | +€121,711 | +74.7% |
| Amounts receivable within one year | 40/41 | €1,437,909 | €1,218,679 | -€219,230 | -15.2% |
| Trade receivables | 40 | €1,312,223 | €1,068,463 | -€243,761 | -18.6% |
| Other amounts receivable | 41 | €125,685 | €150,216 | +€24,531 | +19.5% |
| Current investments | 50/53 | €5,922,900 | €6,006,083 | +€83,183 | +1.4% |
| Cash at bank and in hand | 54/58 | €443,670 | €1,061,634 | +€617,964 | +139% |
| Deferred charges and accrued income | 490/1 | €6,008 | €7,605 | +€1,598 | +26.6% |
| Total equity and liabilities | 10/49 | €8,098,158 | €8,678,563 | +€580,405 | +7.2% |
| Equity | 10/15 | €7,269,217 | €7,813,690 | +€544,473 | +7.5% |
| Contributions | 10/11 | €1,546,500 | €1,546,500 | = | 0.0% |
| Capital | 10 | €1,546,500 | €1,546,500 | = | 0.0% |
| Issued capital | 100 | €1,546,500 | €1,546,500 | = | 0.0% |
| Reserves | 13 | €5,722,717 | €6,267,190 | +€544,473 | +9.5% |
| Non-distributable reserves | 130/1 | €154,650 | €154,650 | = | 0.0% |
| Legal reserve | 130 | €154,650 | €154,650 | = | 0.0% |
| Tax-exempt reserves | 132 | €768,043 | €852,243 | +€84,200 | +11.0% |
| Distributable reserves | 133 | €4,800,024 | €5,260,297 | +€460,273 | +9.6% |
| Amounts payable | 17/49 | €828,941 | €864,873 | +€35,932 | +4.3% |
| Amounts payable after more than one year | 17 | €69,868 | €51,411 | -€18,457 | -26.4% |
| Financial debts | 170/4 | €69,868 | €51,411 | -€18,457 | -26.4% |
| Amounts payable within one year | 42/48 | €758,352 | €813,462 | +€55,110 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €17,701 | €18,457 | +€756 | +4.3% |
| Financial debts | 43 | - | €2,142 | +€2,142 | |
| Credit institutions | 430/8 | - | €2,142 | +€2,142 | |
| Trade debts | 44 | €701,508 | €746,836 | +€45,328 | +6.5% |
| Suppliers | 440/4 | €701,508 | €746,836 | +€45,328 | +6.5% |
| Taxes, remuneration and social security | 45 | €39,142 | €46,027 | +€6,885 | +17.6% |
| Taxes | 450/3 | €39,142 | €46,027 | +€6,885 | +17.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €721 | €0 | -€721 | -100% |
| Non-recurring operating income | 76A | €37,000 | - | -€37,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,071 | €25,728 | +€9,657 | +60.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€4,896 | -€4,896 | |
| Other operating charges | 640/8 | €5,627 | €13,095 | +€7,468 | +133% |
| Gross operating margin | 9900 | €683,435 | €595,491 | -€87,944 | -12.9% |
| Operating profit (loss) | 9901 | €661,737 | €561,564 | -€100,173 | -15.1% |
| Financial income | 75/76B | €173,286 | €242,033 | +€68,747 | +39.7% |
| Recurring financial income | 75 | €173,286 | €242,033 | +€68,747 | +39.7% |
| Financial charges | 65/66B | €111,867 | €34,377 | -€77,490 | -69.3% |
| Recurring financial charges | 65 | €111,867 | €34,377 | -€77,490 | -69.3% |
| Profit (loss) for the period before taxes | 9903 | €723,156 | €769,220 | +€46,063 | +6.4% |
| Income taxes | 67/77 | €235,952 | €224,747 | -€11,205 | -4.7% |
| Profit (loss) for the period | 9904 | €487,205 | €544,473 | +€57,268 | +11.8% |
| Transfer from tax-exempt reserves | 789 | €142,400 | €168,400 | +€26,000 | +18.3% |
| Transfer to tax-exempt reserves | 689 | €252,600 | €252,600 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €377,005 | €460,273 | +€83,268 | +22.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.