PROTECTUS VERZEKERINGEN: what changed
PROTECTUS VERZEKERINGEN
Largest movements
- Cash +€256,500
up €256,500 (+130%), from €197,465 to €453,965
mainly Net result for the year (+€184,856) and Depreciation (+€179,726)
- Intangible fixed assets -€170,791
down €170,791 (-10.4%), from €1.6m to €1.5m
- Receivables within one year -€128,678
down €128,678 (-65.8%), from €195,496 to €66,818
of which Other amounts receivable: -€120,540
- Tangible fixed assets +€26,135
new in 2025: €26,135
- Debts after one year -€181,045
down €181,045 (-12.1%), from €1.5m to €1.3m
- Reserves +€92,856
up €92,856 (+218%), from €42,608 to €135,463
- Tax, wage and social debts +€57,369
up €57,369 (+56.7%), from €101,189 to €158,558
of which Taxes: +€63,453
- Other debts +€52,071
up €52,071 (+129%), from €40,469 to €92,540
- Trade debts -€46,384
down €46,384 (-31.8%), from €145,972 to €99,588
- Gross operating margin +€432,792
up €432,792 (+109%), from €397,856 to €830,647
- Staff costs +€165,876
up €165,876 (+99.5%), from €166,645 to €332,521
- Depreciation +€83,328
up €83,328 (+86.4%), from €96,398 to €179,726
- Financial charges +€44,411
up €44,411 (+187%), from €23,718 to €68,129
- Taxes +€38,003
up €38,003 (+133%), from €28,489 to €66,491
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 | €2,048,602 | €2,035,475 | -€13,127 | -0.6% |
| Fixed assets | 21/28 | €1,649,732 | €1,505,076 | -€144,656 | -8.8% |
| Intangible fixed assets | 21 | €1,649,732 | €1,478,941 | -€170,791 | -10.4% |
| Tangible fixed assets | 22/27 | - | €26,135 | +€26,135 | |
| Furniture and vehicles | 24 | - | €26,135 | +€26,135 | |
| Current assets | 29/58 | €398,869 | €530,399 | +€131,529 | +33.0% |
| Amounts receivable within one year | 40/41 | €195,496 | €66,818 | -€128,678 | -65.8% |
| Trade receivables | 40 | €74,956 | €66,818 | -€8,137 | -10.9% |
| Other amounts receivable | 41 | €120,540 | €0 | -€120,540 | -100% |
| Cash at bank and in hand | 54/58 | €197,465 | €453,965 | +€256,500 | +130% |
| Deferred charges and accrued income | 490/1 | €5,909 | €9,615 | +€3,707 | +62.7% |
| Total equity and liabilities | 10/49 | €2,048,602 | €2,035,475 | -€13,127 | -0.6% |
| Equity | 10/15 | €92,608 | €185,463 | +€92,856 | +100% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €42,608 | €135,463 | +€92,856 | +218% |
| Distributable reserves | 133 | €42,608 | €135,463 | +€92,856 | +218% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,955,994 | €1,850,012 | -€105,982 | -5.4% |
| Amounts payable after more than one year | 17 | €1,493,673 | €1,312,629 | -€181,045 | -12.1% |
| Financial debts | 170/4 | €1,493,673 | €1,312,629 | -€181,045 | -12.1% |
| Amounts payable within one year | 42/48 | €462,321 | €531,731 | +€69,410 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €174,690 | €181,045 | +€6,355 | +3.6% |
| Trade debts | 44 | €145,972 | €99,588 | -€46,384 | -31.8% |
| Suppliers | 440/4 | €145,972 | €99,588 | -€46,384 | -31.8% |
| Taxes, remuneration and social security | 45 | €101,189 | €158,558 | +€57,369 | +56.7% |
| Taxes | 450/3 | €39,570 | €103,024 | +€63,453 | +160% |
| Remuneration and social security | 454/9 | €61,619 | €55,534 | -€6,085 | -9.9% |
| Other amounts payable | 47/48 | €40,469 | €92,540 | +€52,071 | +129% |
| Accrued charges and deferred income | 492/3 | - | €5,652 | +€5,652 | |
| Non-recurring operating income | 76A | - | €23 | +€23 | |
| Remuneration, social security and pensions | 62 | €166,645 | €332,521 | +€165,876 | +99.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,398 | €179,726 | +€83,328 | +86.4% |
| Other operating charges | 640/8 | - | €546 | +€546 | |
| Non-recurring operating charges | 66A | - | €705 | +€705 | |
| Gross operating margin | 9900 | €397,856 | €830,647 | +€432,792 | +109% |
| Operating profit (loss) | 9901 | €134,813 | €317,150 | +€182,337 | +135% |
| Financial income | 75/76B | €2 | €2,326 | +€2,324 | +120,435% |
| Recurring financial income | 75 | €2 | €2,326 | +€2,324 | +120,435% |
| Financial charges | 65/66B | €23,718 | €68,129 | +€44,411 | +187% |
| Recurring financial charges | 65 | €23,718 | €68,129 | +€44,411 | +187% |
| Profit (loss) for the period before taxes | 9903 | €111,096 | €251,347 | +€140,251 | +126% |
| Income taxes | 67/77 | €28,489 | €66,491 | +€38,003 | +133% |
| Profit (loss) for the period | 9904 | €82,608 | €184,856 | +€102,248 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €82,608 | €184,856 | +€102,248 | +124% |
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 3 November 2026 via checked.be.