PROTECTOR: 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.
PROTECTOR
Largest movements
- Cash +€8,519
up €8,519 (+3.9%), from €218,797 to €227,316
mainly Provisions (+€50,000) and Net result for the year (+€48,970)
- Other debts -€100,000
down €100,000 (-66.7%), from €149,944 to €49,944
- Provisions +€50,000
up €50,000 (+25.0%), from €200,000 to €250,000
- Profit (loss) carried forward +€48,970
up €48,970 (+12.4%), from -€393,886 to -€344,915
- Trade debts +€9,559
up €9,559 (+99.3%), from €9,630 to €19,189
- Taxes -€54,809
down €54,809 (-100%), from €54,809 to €0
- Provisions +€50,000
new in 2025: €50,000
- Gross operating margin -€10,710
down €10,710 (-8.5%), from €126,267 to €115,557
- Financial charges -€1,549
down €1,549 (-20.3%), from €7,623 to €6,074
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 | €368,849 | €377,378 | +€8,529 | +2.3% |
| Fixed assets | 21/28 | €148,736 | €148,736 | = | 0.0% |
| Tangible fixed assets | 22/27 | €148,736 | €148,736 | = | 0.0% |
| Land and buildings | 22 | €148,736 | €148,736 | = | 0.0% |
| Current assets | 29/58 | €220,113 | €228,642 | +€8,529 | +3.9% |
| Cash at bank and in hand | 54/58 | €218,797 | €227,316 | +€8,519 | +3.9% |
| Deferred charges and accrued income | 490/1 | €1,316 | €1,326 | +€10 | +0.8% |
| Total equity and liabilities | 10/49 | €368,849 | €377,378 | +€8,529 | +2.3% |
| Equity | 10/15 | €9,275 | €58,245 | +€48,970 | +528% |
| Contributions | 10/11 | €275,000 | €275,000 | = | 0.0% |
| Capital | 10 | €275,000 | €275,000 | = | 0.0% |
| Issued capital | 100 | €275,000 | €275,000 | = | 0.0% |
| Revaluation surpluses | 12 | €122,011 | €122,011 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€393,886 | -€344,915 | +€48,970 | +12.4% |
| Provisions and deferred taxes | 16 | €200,000 | €250,000 | +€50,000 | +25.0% |
| Provisions for liabilities and charges | 160/5 | €200,000 | €250,000 | +€50,000 | +25.0% |
| Environmental obligations | 163 | €200,000 | €250,000 | +€50,000 | +25.0% |
| Amounts payable | 17/49 | €159,574 | €69,133 | -€90,441 | -56.7% |
| Amounts payable within one year | 42/48 | €159,574 | €69,133 | -€90,441 | -56.7% |
| Trade debts | 44 | €9,630 | €19,189 | +€9,559 | +99.3% |
| Suppliers | 440/4 | €9,630 | €19,189 | +€9,559 | +99.3% |
| Other amounts payable | 47/48 | €149,944 | €49,944 | -€100,000 | -66.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €50,000 | +€50,000 | |
| Other operating charges | 640/8 | €10,497 | €10,513 | +€16 | +0.1% |
| Non-recurring operating charges | 66A | €50,000 | - | -€50,000 | |
| Gross operating margin | 9900 | €126,267 | €115,557 | -€10,710 | -8.5% |
| Operating profit (loss) | 9901 | €65,770 | €55,044 | -€10,725 | -16.3% |
| Financial charges | 65/66B | €7,623 | €6,074 | -€1,549 | -20.3% |
| Recurring financial charges | 65 | €7,623 | €6,074 | -€1,549 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €58,146 | €48,970 | -€9,176 | -15.8% |
| Income taxes | 67/77 | €54,809 | €0 | -€54,809 | -100% |
| Profit (loss) for the period | 9904 | €3,338 | €48,970 | +€45,633 | +1,367% |
| Profit (loss) for the period to be appropriated | 9905 | €3,338 | €48,970 | +€45,633 | +1,367% |
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 13 October 2026 via checked.be.