Protectas: what changed
Protectas
Largest movements
- Cash +€183,521
up €183,521 (+38.3%), from €478,936 to €662,457
mainly Receivables within one year (+€74,421) and Net result for the year (+€54,417)
- Receivables within one year -€74,421
down €74,421 (-66.5%), from €111,958 to €37,537
of which Other amounts receivable: -€50,593
- Tangible fixed assets -€21,473
down €21,473 (-55.0%), from €39,051 to €17,578
of which Furniture and vehicles: -€16,495
- Deferred charges and accrued income -€14,489
down €14,489 (-47.8%), from €30,333 to €15,844
- Reserves +€54,417
up €54,417 (+24.4%), from €222,898 to €277,315
of which Distributable reserves: +€54,417
- Trade debts +€38,217
up €38,217 (+11.4%), from €335,386 to €373,603
- Accrued charges and deferred income -€15,048
down €15,048 (-100%), from €15,048 to €0
- Debts after one year -€10,014
down €10,014 (-59.2%), from €16,912 to €6,898
- Gross operating margin +€118,496
up €118,496 (+27.4%), from €432,742 to €551,238
- Financial charges +€47,579
up €47,579 (+2,396%), from €1,986 to €49,564
- Taxes +€25,374
up €25,374 (+522%), from €4,860 to €30,234
- Staff costs -€24,373
down €24,373 (-6.5%), from €374,258 to €349,885
- Other operating charges +€18,466
up €18,466 (+63.7%), from €28,984 to €47,450
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €694,529 | €767,667 | +€73,137 | +10.5% |
| Fixed assets | 21/28 | €73,301 | €51,828 | -€21,473 | -29.3% |
| Tangible fixed assets | 22/27 | €39,051 | €17,578 | -€21,473 | -55.0% |
| Land and buildings | 22 | €4,292 | €3,808 | -€484 | -11.3% |
| Plant, machinery and equipment | 23 | €8,768 | €4,274 | -€4,494 | -51.3% |
| Furniture and vehicles | 24 | €25,992 | €9,497 | -€16,495 | -63.5% |
| Financial fixed assets | 28 | €34,250 | €34,250 | = | 0.0% |
| Current assets | 29/58 | €621,228 | €715,838 | +€94,610 | +15.2% |
| Amounts receivable within one year | 40/41 | €111,958 | €37,537 | -€74,421 | -66.5% |
| Trade receivables | 40 | €37,931 | €14,102 | -€23,829 | -62.8% |
| Other amounts receivable | 41 | €74,027 | €23,435 | -€50,593 | -68.3% |
| Cash at bank and in hand | 54/58 | €478,936 | €662,457 | +€183,521 | +38.3% |
| Deferred charges and accrued income | 490/1 | €30,333 | €15,844 | -€14,489 | -47.8% |
| Total equity and liabilities | 10/49 | €694,529 | €767,667 | +€73,137 | +10.5% |
| Equity | 10/15 | €284,898 | €339,315 | +€54,417 | +19.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €222,898 | €277,315 | +€54,417 | +24.4% |
| Non-distributable reserves | 130/1 | €16,510 | €16,510 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Other | 1319 | €10,310 | €10,310 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,632 | €7,632 | = | 0.0% |
| Distributable reserves | 133 | €198,756 | €253,174 | +€54,417 | +27.4% |
| Amounts payable | 17/49 | €409,631 | €428,352 | +€18,720 | +4.6% |
| Amounts payable after more than one year | 17 | €16,912 | €6,898 | -€10,014 | -59.2% |
| Financial debts | 170/4 | €16,912 | €6,898 | -€10,014 | -59.2% |
| Amounts payable within one year | 42/48 | €377,671 | €421,453 | +€43,782 | +11.6% |
| Current portion of amounts payable after more than one year | 42 | €9,627 | €10,014 | +€387 | +4.0% |
| Trade debts | 44 | €335,386 | €373,603 | +€38,217 | +11.4% |
| Suppliers | 440/4 | €335,386 | €373,603 | +€38,217 | +11.4% |
| Taxes, remuneration and social security | 45 | €32,658 | €37,836 | +€5,178 | +15.9% |
| Taxes | 450/3 | - | €10,645 | +€10,645 | |
| Remuneration and social security | 454/9 | €32,658 | €27,192 | -€5,467 | -16.7% |
| Accrued charges and deferred income | 492/3 | €15,048 | €0 | -€15,048 | -100% |
| Remuneration, social security and pensions | 62 | €374,258 | €349,885 | -€24,373 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,389 | €21,473 | +€85 | +0.4% |
| Other operating charges | 640/8 | €28,984 | €47,450 | +€18,466 | +63.7% |
| Gross operating margin | 9900 | €432,742 | €551,238 | +€118,496 | +27.4% |
| Operating profit (loss) | 9901 | €8,111 | €132,430 | +€124,318 | +1,533% |
| Financial income | 75/76B | €645 | €1,786 | +€1,142 | +177% |
| Recurring financial income | 75 | €645 | €1,786 | +€1,142 | +177% |
| Financial charges | 65/66B | €1,986 | €49,564 | +€47,579 | +2,396% |
| Recurring financial charges | 65 | €1,986 | €49,564 | +€47,579 | +2,396% |
| Profit (loss) for the period before taxes | 9903 | €6,770 | €84,652 | +€77,881 | +1,150% |
| Income taxes | 67/77 | €4,860 | €30,234 | +€25,374 | +522% |
| Profit (loss) for the period | 9904 | €1,910 | €54,417 | +€52,507 | +2,749% |
| Profit (loss) for the period to be appropriated | 9905 | €1,910 | €54,417 | +€52,507 | +2,749% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.