PROMORGA: 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.
PROMORGA
Largest movements
- Current investments -€98,940
down €98,940 (-57.2%), from €173,097 to €74,157
- Cash -€27,993
down €27,993 (-58.3%), from €48,018 to €20,025
mainly Debts after one year (-€112,667) and Tax, wage and social debts (-€13,155)
- Financial fixed assets -€12,300
no longer reported in 2025 (was €12,300)
- Tangible fixed assets -€5,819
down €5,819 (-5.8%), from €100,173 to €94,354
of which Furniture and vehicles: -€3,084
- Debts after one year -€112,667
down €112,667 (-60.7%), from €185,640 to €72,973
of which Other amounts payable: -€105,000
- Tax, wage and social debts -€13,155
no longer reported in 2025 (was €13,155)
- Trade debts -€8,287
down €8,287 (-95.6%), from €8,668 to €381
- Profit (loss) carried forward -€5,647
down €5,647 (-3.6%), from -€155,865 to -€161,511
- Accrued charges and deferred income -€5,430
down €5,430 (-45.8%), from €11,850 to €6,420
- Gross operating margin -€23,762
down €23,762 (-54.9%), from €43,272 to €19,510
- Financial charges -€7,633
down €7,633 (-46.0%), from €16,588 to €8,954
- Financial income -€3,138
down €3,138 (-68.7%), from €4,566 to €1,428
- Taxes -€1,968
down €1,968 (-75.7%), from €2,600 to €632
- Other operating charges +€1,167
up €1,167 (+83.4%), from €1,400 to €2,567
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 | €413,973 | €268,784 | -€145,188 | -35.1% |
| Fixed assets | 21/28 | €112,473 | €94,354 | -€18,119 | -16.1% |
| Tangible fixed assets | 22/27 | €100,173 | €94,354 | -€5,819 | -5.8% |
| Land and buildings | 22 | €93,716 | €90,981 | -€2,735 | -2.9% |
| Furniture and vehicles | 24 | €6,457 | €3,372 | -€3,084 | -47.8% |
| Financial fixed assets | 28 | €12,300 | - | -€12,300 | |
| Current assets | 29/58 | €301,500 | €174,431 | -€127,069 | -42.1% |
| Amounts receivable within one year | 40/41 | €80,257 | €80,208 | -€49 | -0.1% |
| Trade receivables | 40 | €78,000 | €79,378 | +€1,378 | +1.8% |
| Other amounts receivable | 41 | €2,257 | €830 | -€1,427 | -63.2% |
| Current investments | 50/53 | €173,097 | €74,157 | -€98,940 | -57.2% |
| Cash at bank and in hand | 54/58 | €48,018 | €20,025 | -€27,993 | -58.3% |
| Deferred charges and accrued income | 490/1 | €128 | €40 | -€87 | -68.3% |
| Total equity and liabilities | 10/49 | €413,973 | €268,784 | -€145,188 | -35.1% |
| Equity | 10/15 | €186,990 | €181,344 | -€5,647 | -3.0% |
| Contributions | 10/11 | €280,000 | €280,000 | = | 0.0% |
| Reserves | 13 | €62,855 | €62,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Other | 1319 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €61,000 | €61,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€155,865 | -€161,511 | -€5,647 | -3.6% |
| Amounts payable | 17/49 | €226,982 | €87,441 | -€139,542 | -61.5% |
| Amounts payable after more than one year | 17 | €185,640 | €72,973 | -€112,667 | -60.7% |
| Financial debts | 170/4 | €58,140 | €50,473 | -€7,667 | -13.2% |
| Other amounts payable | 178/9 | €127,500 | €22,500 | -€105,000 | -82.4% |
| Amounts payable within one year | 42/48 | €29,493 | €8,047 | -€21,445 | -72.7% |
| Current portion of amounts payable after more than one year | 42 | €7,667 | €7,667 | = | 0.0% |
| Trade debts | 44 | €8,668 | €381 | -€8,287 | -95.6% |
| Suppliers | 440/4 | €8,668 | €381 | -€8,287 | -95.6% |
| Taxes, remuneration and social security | 45 | €13,155 | - | -€13,155 | |
| Taxes | 450/3 | €13,155 | - | -€13,155 | |
| Other amounts payable | 47/48 | €4 | - | -€4 | |
| Accrued charges and deferred income | 492/3 | €11,850 | €6,420 | -€5,430 | -45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,599 | €5,819 | -€780 | -11.8% |
| Other operating charges | 640/8 | €1,400 | €2,567 | +€1,167 | +83.4% |
| Non-recurring operating charges | 66A | €373 | €8,612 | +€8,239 | +2,211% |
| Gross operating margin | 9900 | €43,272 | €19,510 | -€23,762 | -54.9% |
| Operating profit (loss) | 9901 | €34,900 | €2,512 | -€32,388 | -92.8% |
| Financial income | 75/76B | €4,566 | €1,428 | -€3,138 | -68.7% |
| Recurring financial income | 75 | €4,566 | €1,428 | -€3,138 | -68.7% |
| Financial charges | 65/66B | €16,588 | €8,954 | -€7,633 | -46.0% |
| Recurring financial charges | 65 | €16,588 | €8,954 | -€7,633 | -46.0% |
| Profit (loss) for the period before taxes | 9903 | €22,878 | -€5,015 | -€27,893 | |
| Income taxes | 67/77 | €2,600 | €632 | -€1,968 | -75.7% |
| Profit (loss) for the period | 9904 | €20,278 | -€5,647 | -€25,925 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,278 | -€5,647 | -€25,925 |
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 19 October 2026 via checked.be.