Protection & Gestion: 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.
Protection & Gestion
Largest movements
- Receivables within one year -€25,568
down €25,568 (-23.9%), from €106,938 to €81,370
of which Trade receivables: -€25,562
- Cash +€5,252
up €5,252 (+1,114%), from €471 to €5,723
mainly Receivables within one year (+€25,568) and Other debts (+€18,716)
- Tangible fixed assets -€1,583
down €1,583 (-27.8%), from €5,694 to €4,111
of which Furniture and vehicles: -€1,069
- Trade debts -€21,687
down €21,687 (-26.8%), from €81,007 to €59,320
- Other debts +€18,716
up €18,716 (+1,102%), from €1,698 to €20,415
- Short-term financial debts -€12,092
down €12,092 (-100%), from €12,092 to €0
- Tax, wage and social debts -€8,585
down €8,585 (-49.5%), from €17,357 to €8,772
of which Taxes: -€8,585
- Profit (loss) carried forward +€1,383
up €1,383 (+23.2%), from -€5,957 to -€4,574
- Gross operating margin +€12,294
up €12,294, from -€1,891 to €10,403
- Taxes +€2,506
up €2,506, from €0 to €2,506
- Financial charges +€1,094
up €1,094 (+46.8%), from €2,338 to €3,432
- Staff costs -€628
down €628 (-100%), from €628 to €0
- Depreciation +€413
up €413 (+35.2%), from €1,171 to €1,583
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 | €114,258 | €91,993 | -€22,265 | -19.5% |
| Fixed assets | 21/28 | €5,694 | €4,111 | -€1,583 | -27.8% |
| Tangible fixed assets | 22/27 | €5,694 | €4,111 | -€1,583 | -27.8% |
| Land and buildings | 22 | €3,189 | €2,675 | -€514 | -16.1% |
| Furniture and vehicles | 24 | €2,505 | €1,436 | -€1,069 | -42.7% |
| Current assets | 29/58 | €108,564 | €87,882 | -€20,681 | -19.1% |
| Stocks and contracts in progress | 3 | €466 | €360 | -€106 | -22.8% |
| Stocks | 30/36 | €466 | €360 | -€106 | -22.8% |
| Amounts receivable within one year | 40/41 | €106,938 | €81,370 | -€25,568 | -23.9% |
| Trade receivables | 40 | €106,932 | €81,370 | -€25,562 | -23.9% |
| Other amounts receivable | 41 | €6 | €0 | -€6 | -100% |
| Cash at bank and in hand | 54/58 | €471 | €5,723 | +€5,252 | +1,114% |
| Deferred charges and accrued income | 490/1 | €689 | €429 | -€259 | -37.6% |
| Total equity and liabilities | 10/49 | €114,258 | €91,993 | -€22,265 | -19.5% |
| Equity | 10/15 | €2,103 | €3,486 | +€1,383 | +65.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,957 | -€4,574 | +€1,383 | +23.2% |
| Amounts payable | 17/49 | €112,155 | €88,507 | -€23,648 | -21.1% |
| Amounts payable within one year | 42/48 | €112,155 | €88,507 | -€23,648 | -21.1% |
| Financial debts | 43 | €12,092 | €0 | -€12,092 | -100% |
| Credit institutions | 430/8 | €12,092 | €0 | -€12,092 | -100% |
| Trade debts | 44 | €81,007 | €59,320 | -€21,687 | -26.8% |
| Suppliers | 440/4 | €81,007 | €59,320 | -€21,687 | -26.8% |
| Taxes, remuneration and social security | 45 | €17,357 | €8,772 | -€8,585 | -49.5% |
| Taxes | 450/3 | €17,357 | €8,772 | -€8,585 | -49.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,698 | €20,415 | +€18,716 | +1,102% |
| Remuneration, social security and pensions | 62 | €628 | €0 | -€628 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,171 | €1,583 | +€413 | +35.2% |
| Other operating charges | 640/8 | €1,508 | €1,499 | -€9 | -0.6% |
| Gross operating margin | 9900 | -€1,891 | €10,403 | +€12,294 | |
| Operating profit (loss) | 9901 | -€5,198 | €7,321 | +€12,519 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,338 | €3,432 | +€1,094 | +46.8% |
| Recurring financial charges | 65 | €2,338 | €3,432 | +€1,094 | +46.8% |
| Profit (loss) for the period before taxes | 9903 | -€7,536 | €3,889 | +€11,426 | |
| Income taxes | 67/77 | €0 | €2,506 | +€2,506 | |
| Profit (loss) for the period | 9904 | -€7,536 | €1,383 | +€8,920 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,536 | €1,383 | +€8,920 |
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 30 October 2026 via checked.be.