PROTEL: 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.
PROTEL
Largest movements
- Receivables after one year +€66,408
up €66,408 (+16.5%), from €402,776 to €469,184
- Receivables within one year -€9,013
down €9,013 (-30.0%), from €30,039 to €21,026
of which Trade receivables: -€5,825
- Tangible fixed assets -€7,381
down €7,381 (-18.6%), from €39,595 to €32,215
of which Furniture and vehicles: -€6,758
- Reserves +€148,257
up €148,257 (+50.8%), from €291,595 to €439,852
- Profit (loss) carried forward -€105,215
no longer reported in 2025 (was €105,215)
- Tax, wage and social debts +€21,311
up €21,311 (+284.3%), from €7,497 to €28,808
- Debts after one year -€9,998
no longer reported in 2025 (was €9,998)
- Gross operating margin +€105,798
up €105,798, from -€21,134 to €84,663
- Purchases and services -€103,303
no longer reported in 2025 (was €103,303)
- Turnover -€64,520
no longer reported in 2025 (was €64,520)
- Financial charges +€13,181
up €13,181 (+300.7%), from €4,383 to €17,564
- Taxes +€13,049
up €13,049 (+202.1%), from €6,457 to €19,506
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €472,937 | €523,198 | +€50,261 | +10.6% |
| Fixed assets | 21/28 | €39,595 | €32,215 | -€7,381 | -18.6% |
| Tangible fixed assets | 22/27 | €39,595 | €32,215 | -€7,381 | -18.6% |
| Plant, machinery and equipment | 23 | €1,307 | €684 | -€623 | -47.7% |
| Furniture and vehicles | 24 | €38,289 | €31,531 | -€6,758 | -17.7% |
| Current assets | 29/58 | €433,342 | €490,983 | +€57,642 | +13.3% |
| Amounts receivable after more than one year | 29 | €402,776 | €469,184 | +€66,408 | +16.5% |
| Other amounts receivable | 291 | €402,776 | €469,184 | +€66,408 | +16.5% |
| Amounts receivable within one year | 40/41 | €30,039 | €21,026 | -€9,013 | -30.0% |
| Trade receivables | 40 | €26,093 | €20,268 | -€5,825 | -22.3% |
| Other amounts receivable | 41 | €3,946 | €758 | -€3,188 | -80.8% |
| Deferred charges and accrued income | 490/1 | €526 | €773 | +€247 | +47.0% |
| Total equity and liabilities | 10/49 | €472,937 | €523,198 | +€50,261 | +10.6% |
| Equity | 10/15 | €415,410 | €458,452 | +€43,041 | +10.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €291,595 | €439,852 | +€148,257 | +50.8% |
| Distributable reserves | 133 | €291,595 | €439,852 | +€148,257 | +50.8% |
| Profit (loss) carried forward | 14 | €105,215 | - | -€105,215 | |
| Amounts payable | 17/49 | €57,527 | €64,746 | +€7,220 | +12.5% |
| Amounts payable after more than one year | 17 | €9,998 | - | -€9,998 | |
| Financial debts | 170/4 | €9,998 | - | -€9,998 | |
| Amounts payable within one year | 42/48 | €47,529 | €64,746 | +€17,217 | +36.2% |
| Current portion of amounts payable after more than one year | 42 | €14,633 | €10,046 | -€4,587 | -31.3% |
| Financial debts | 43 | €17,998 | €14,664 | -€3,334 | -18.5% |
| Credit institutions | 430/8 | €17,998 | €14,664 | -€3,334 | -18.5% |
| Trade debts | 44 | €7,401 | €10,395 | +€2,994 | +40.5% |
| Suppliers | 440/4 | €7,401 | €10,395 | +€2,994 | +40.5% |
| Taxes, remuneration and social security | 45 | €7,497 | €28,808 | +€21,311 | +284.3% |
| Taxes | 450/3 | €7,497 | €28,808 | +€21,311 | +284.3% |
| Other amounts payable | 47/48 | - | €833 | +€833 | |
| Turnover | 70 | €64,520 | - | -€64,520 | |
| Goods, raw materials, services and sundry goods | 60/61 | €103,303 | - | -€103,303 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,068 | €14,435 | +€4,367 | +43.4% |
| Other operating charges | 640/8 | €1,064 | €282 | -€782 | -73.5% |
| Gross operating margin | 9900 | -€21,134 | €84,663 | +€105,798 | |
| Operating profit (loss) | 9901 | -€32,266 | €69,947 | +€102,212 | |
| Financial income | 75/76B | €10,793 | €10,998 | +€205 | +1.9% |
| Recurring financial income | 75 | €10,793 | €10,998 | +€205 | +1.9% |
| Financial charges | 65/66B | €4,383 | €17,564 | +€13,181 | +300.7% |
| Recurring financial charges | 65 | €4,383 | €17,564 | +€13,181 | +300.7% |
| Profit (loss) for the period before taxes | 9903 | -€25,856 | €63,381 | +€89,236 | |
| Income taxes | 67/77 | €6,457 | €19,506 | +€13,049 | +202.1% |
| Profit (loss) for the period | 9904 | -€32,313 | €43,874 | +€76,187 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,313 | €43,874 | +€76,187 |
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 6 October 2026 via checked.be.