PROGRO: 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.
PROGRO
Largest movements
- Cash -€73,476
down €73,476 (-89.8%), from €81,840 to €8,365
- Tangible fixed assets -€73,066
down €73,066 (-5.5%), from €1.3m to €1.3m
of which Land and buildings: -€64,222
- Current investments +€52,993
up €52,993 (+10.7%), from €494,321 to €547,314
- Debts after one year -€65,454
down €65,454 (-22.4%), from €292,272 to €226,818
of which Other amounts payable: -€40,000
- Reserves +€22,451
up €22,451 (+2.6%), from €879,682 to €902,133
of which Distributable reserves: +€58,928
- Tax, wage and social debts -€21,279
down €21,279 (-76.5%), from €27,827 to €6,549
- Financial income +€113,801
up €113,801 (+1122.9%), from €10,135 to €123,936
- Financial charges +€53,777
up €53,777 (+213.4%), from €25,205 to €78,981
- Depreciation +€31,212
up €31,212 (+65.2%), from €47,890 to €79,103
- Gross operating margin +€21,899
up €21,899 (+36.0%), from €60,824 to €82,723
- Other operating charges +€1,906
up €1,906 (+22.2%), from €8,583 to €10,489
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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,917,938 | €1,833,878 | -€84,060 | -4.4% |
| Fixed assets | 21/28 | €1,334,705 | €1,261,639 | -€73,066 | -5.5% |
| Tangible fixed assets | 22/27 | €1,334,705 | €1,261,639 | -€73,066 | -5.5% |
| Land and buildings | 22 | €1,306,990 | €1,242,768 | -€64,222 | -4.9% |
| Furniture and vehicles | 24 | €27,715 | €18,871 | -€8,844 | -31.9% |
| Current assets | 29/58 | €583,233 | €572,239 | -€10,993 | -1.9% |
| Amounts receivable after more than one year | 29 | - | €13,812 | +€13,812 | |
| Trade receivables | 290 | - | €13,812 | +€13,812 | |
| Amounts receivable within one year | 40/41 | €3,803 | - | -€3,803 | |
| Trade receivables | 40 | €2,653 | - | -€2,653 | |
| Other amounts receivable | 41 | €1,150 | - | -€1,150 | |
| Current investments | 50/53 | €494,321 | €547,314 | +€52,993 | +10.7% |
| Cash at bank and in hand | 54/58 | €81,840 | €8,365 | -€73,476 | -89.8% |
| Deferred charges and accrued income | 490/1 | €3,268 | €2,749 | -€519 | -15.9% |
| Total equity and liabilities | 10/49 | €1,917,938 | €1,833,878 | -€84,060 | -4.4% |
| Equity | 10/15 | €899,682 | €922,133 | +€22,451 | +2.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €879,682 | €902,133 | +€22,451 | +2.6% |
| Tax-exempt reserves | 132 | €571,016 | €534,540 | -€36,477 | -6.4% |
| Distributable reserves | 133 | €308,665 | €367,594 | +€58,928 | +19.1% |
| Provisions and deferred taxes | 16 | €190,339 | €178,180 | -€12,159 | -6.4% |
| Deferred taxes | 168 | €190,339 | €178,180 | -€12,159 | -6.4% |
| Amounts payable | 17/49 | €827,918 | €733,565 | -€94,352 | -11.4% |
| Amounts payable after more than one year | 17 | €292,272 | €226,818 | -€65,454 | -22.4% |
| Financial debts | 170/4 | €252,272 | €226,818 | -€25,454 | -10.1% |
| Other amounts payable | 178/9 | €40,000 | - | -€40,000 | |
| Amounts payable within one year | 42/48 | €523,695 | €499,984 | -€23,711 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €18,638 | €15,990 | -€2,647 | -14.2% |
| Financial debts | 43 | €460,000 | €460,000 | = | 0.0% |
| Credit institutions | 430/8 | €460,000 | €460,000 | = | 0.0% |
| Trade debts | 44 | €9,410 | €3,658 | -€5,752 | -61.1% |
| Suppliers | 440/4 | €9,410 | €3,658 | -€5,752 | -61.1% |
| Taxes, remuneration and social security | 45 | €27,827 | €6,549 | -€21,279 | -76.5% |
| Taxes | 450/3 | €27,827 | €6,549 | -€21,279 | -76.5% |
| Other amounts payable | 47/48 | €7,820 | €13,787 | +€5,967 | +76.3% |
| Accrued charges and deferred income | 492/3 | €11,951 | €6,764 | -€5,187 | -43.4% |
| Non-recurring operating income | 76A | €24,190 | - | -€24,190 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,890 | €79,103 | +€31,212 | +65.2% |
| Other operating charges | 640/8 | €8,583 | €10,489 | +€1,906 | +22.2% |
| Gross operating margin | 9900 | €60,824 | €82,723 | +€21,899 | +36.0% |
| Operating profit (loss) | 9901 | €4,350 | -€6,869 | -€11,219 | |
| Financial income | 75/76B | €10,135 | €123,936 | +€113,801 | +1122.9% |
| Recurring financial income | 75 | €10,135 | €123,936 | +€113,801 | +1122.9% |
| Financial charges | 65/66B | €25,205 | €78,981 | +€53,777 | +213.4% |
| Recurring financial charges | 65 | €25,205 | €78,981 | +€53,777 | +213.4% |
| Profit (loss) for the period before taxes | 9903 | -€10,720 | €38,085 | +€48,805 | |
| Transfer from deferred taxes | 780 | €32,190 | €12,159 | -€20,031 | -62.2% |
| Income taxes | 67/77 | €29,289 | €27,793 | -€1,497 | -5.1% |
| Profit (loss) for the period | 9904 | -€7,819 | €22,451 | +€30,271 | |
| Transfer from tax-exempt reserves | 789 | €96,570 | €36,477 | -€60,093 | -62.2% |
| Profit (loss) for the period to be appropriated | 9905 | €88,751 | €58,928 | -€29,822 | -33.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.