PROPELLO: 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.
PROPELLO
Largest movements
- Receivables within one year +€64,050
up €64,050 (+622.7%), from €10,285 to €74,335
- Cash -€10,658
down €10,658 (-99.5%), from €10,709 to €51
mainly Receivables within one year (-€64,050) and Debts after one year (-€5,299)
- Tangible fixed assets -€4,748
down €4,748 (-20.8%), from €22,855 to €18,107
- Deferred charges and accrued income +€2,585
up €2,585 (+1084.7%), from €238 to €2,823
- Reserves +€24,486
up €24,486 (+455.7%), from €5,373 to €29,859
- Other debts +€22,300
up €22,300 (+382.5%), from €5,830 to €28,130
- Tax, wage and social debts +€8,364
up €8,364 (+115.0%), from €7,274 to €15,638
of which Taxes: +€10,464
- Debts after one year -€5,299
down €5,299 (-34.1%), from €15,552 to €10,253
- Trade debts +€1,179
up €1,179 (+166.8%), from €707 to €1,886
- Gross operating margin +€30,955
up €30,955 (+373.4%), from €8,291 to €39,246
- Taxes +€6,073
up €6,073 (+404.5%), from €1,502 to €7,575
- Depreciation +€3,863
up €3,863 (+436.8%), from €885 to €4,748
- Financial charges +€1,672
up €1,672 (+483.3%), from €346 to €2,018
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 | €44,087 | €95,315 | +€51,229 | +116.2% |
| Fixed assets | 21/28 | €22,855 | €18,107 | -€4,748 | -20.8% |
| Tangible fixed assets | 22/27 | €22,855 | €18,107 | -€4,748 | -20.8% |
| Furniture and vehicles | 24 | €22,855 | €18,107 | -€4,748 | -20.8% |
| Current assets | 29/58 | €21,232 | €77,208 | +€55,976 | +263.6% |
| Amounts receivable within one year | 40/41 | €10,285 | €74,335 | +€64,050 | +622.7% |
| Trade receivables | 40 | €10,285 | €74,335 | +€64,050 | +622.7% |
| Cash at bank and in hand | 54/58 | €10,709 | €51 | -€10,658 | -99.5% |
| Deferred charges and accrued income | 490/1 | €238 | €2,823 | +€2,585 | +1084.7% |
| Total equity and liabilities | 10/49 | €44,087 | €95,315 | +€51,229 | +116.2% |
| Equity | 10/15 | €8,373 | €32,859 | +€24,486 | +292.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €5,373 | €29,859 | +€24,486 | +455.7% |
| Distributable reserves | 133 | €5,373 | €29,859 | +€24,486 | +455.7% |
| Amounts payable | 17/49 | €35,713 | €62,456 | +€26,742 | +74.9% |
| Amounts payable after more than one year | 17 | €15,552 | €10,253 | -€5,299 | -34.1% |
| Financial debts | 170/4 | €15,552 | €10,253 | -€5,299 | -34.1% |
| Amounts payable within one year | 42/48 | €18,912 | €50,952 | +€32,041 | +169.4% |
| Current portion of amounts payable after more than one year | 42 | €5,101 | €5,299 | +€198 | +3.9% |
| Trade debts | 44 | €707 | €1,886 | +€1,179 | +166.8% |
| Suppliers | 440/4 | €707 | €1,886 | +€1,179 | +166.8% |
| Taxes, remuneration and social security | 45 | €7,274 | €15,638 | +€8,364 | +115.0% |
| Taxes | 450/3 | €5,174 | €15,638 | +€10,464 | +202.2% |
| Remuneration and social security | 454/9 | €2,100 | - | -€2,100 | |
| Other amounts payable | 47/48 | €5,830 | €28,130 | +€22,300 | +382.5% |
| Accrued charges and deferred income | 492/3 | €1,250 | €1,250 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €885 | €4,748 | +€3,863 | +436.8% |
| Other operating charges | 640/8 | €186 | €422 | +€236 | +127.0% |
| Gross operating margin | 9900 | €8,291 | €39,246 | +€30,955 | +373.4% |
| Operating profit (loss) | 9901 | €7,221 | €34,077 | +€26,856 | +371.9% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €346 | €2,018 | +€1,672 | +483.3% |
| Recurring financial charges | 65 | €346 | €2,018 | +€1,672 | +483.3% |
| Profit (loss) for the period before taxes | 9903 | €6,875 | €32,061 | +€25,186 | +366.4% |
| Income taxes | 67/77 | €1,502 | €7,575 | +€6,073 | +404.5% |
| Profit (loss) for the period | 9904 | €5,373 | €24,486 | +€19,113 | +355.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,373 | €24,486 | +€19,113 | +355.7% |
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 9 October 2026 via checked.be.