PROPEX: 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.
PROPEX
Largest movements
- Tangible fixed assets -€15,590
down €15,590 (-5.3%), from €293,040 to €277,450
- Receivables within one year +€4,500
new in 2025: €4,500
- Debts after one year -€17,000
down €17,000 (-27.3%), from €62,333 to €45,333
- Reserves +€8,746
up €8,746 (+10.2%), from €86,071 to €94,817
of which Distributable reserves: +€8,746
- Gross operating margin +€3,579
up €3,579 (+14.6%), from €24,444 to €28,023
- Depreciation -€1,840
down €1,840 (-10.6%), from €17,430 to €15,590
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 | €295,074 | €286,910 | -€8,165 | -2.8% |
| Fixed assets | 21/28 | €293,040 | €277,450 | -€15,590 | -5.3% |
| Tangible fixed assets | 22/27 | €293,040 | €277,450 | -€15,590 | -5.3% |
| Land and buildings | 22 | €293,040 | €277,450 | -€15,590 | -5.3% |
| Current assets | 29/58 | €2,034 | €9,460 | +€7,425 | +365.0% |
| Amounts receivable within one year | 40/41 | - | €4,500 | +€4,500 | |
| Trade receivables | 40 | - | €4,500 | +€4,500 | |
| Cash at bank and in hand | 54/58 | €2,034 | €4,960 | +€2,925 | +143.8% |
| Total equity and liabilities | 10/49 | €295,074 | €286,910 | -€8,165 | -2.8% |
| Equity | 10/15 | €104,671 | €113,417 | +€8,746 | +8.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €86,071 | €94,817 | +€8,746 | +10.2% |
| 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 | €84,211 | €92,957 | +€8,746 | +10.4% |
| Amounts payable | 17/49 | €190,403 | €173,493 | -€16,910 | -8.9% |
| Amounts payable after more than one year | 17 | €62,333 | €45,333 | -€17,000 | -27.3% |
| Financial debts | 170/4 | €62,333 | €45,333 | -€17,000 | -27.3% |
| Amounts payable within one year | 42/48 | €128,070 | €128,160 | +€90 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €17,000 | €17,000 | = | 0.0% |
| Trade debts | 44 | - | €90 | +€90 | |
| Suppliers | 440/4 | - | €90 | +€90 | |
| Advances received on contracts in progress | 46 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €109,570 | €109,570 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,430 | €15,590 | -€1,840 | -10.6% |
| Other operating charges | 640/8 | €2,811 | €2,894 | +€83 | +2.9% |
| Gross operating margin | 9900 | €24,444 | €28,023 | +€3,579 | +14.6% |
| Operating profit (loss) | 9901 | €4,203 | €9,539 | +€5,336 | +127.0% |
| Financial charges | 65/66B | €946 | €793 | -€153 | -16.2% |
| Recurring financial charges | 65 | €946 | €793 | -€153 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €3,256 | €8,746 | +€5,489 | +168.6% |
| Profit (loss) for the period | 9904 | €3,256 | €8,746 | +€5,489 | +168.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,256 | €8,746 | +€5,489 | +168.6% |
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.