PROTELUX: 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.
PROTELUX
Largest movements
- Stocks and contracts -€45,480
down €45,480 (-14.3%), from €318,045 to €272,565
- Tangible fixed assets +€34,691
up €34,691 (+4.1%), from €846,706 to €881,397
of which Plant, machinery and equipment: +€84,471
- Deferred charges and accrued income +€23,272
up €23,272 (+659.1%), from €3,531 to €26,803
- Cash +€21,937
up €21,937 (+38.1%), from €57,587 to €79,525
mainly Depreciation (+€155,819) and Other debts (+€104,130)
- Other debts +€104,130
up €104,130 (+766.3%), from €13,589 to €117,719
- Tax, wage and social debts -€86,420
down €86,420 (-58.3%), from €148,329 to €61,910
of which Remuneration and social security: -€88,290
- Debts after one year +€53,251
up €53,251 (+37.8%), from €140,922 to €194,173
- Trade debts -€43,796
down €43,796 (-6.1%), from €722,699 to €678,903
- Short-term financial debts +€40,000
up €40,000 (+40.0%), from €100,000 to €140,000
- Gross operating margin +€330,247
up €330,247 (+39.0%), from €846,703 to €1.2m
- Staff costs +€160,650
up €160,650 (+22.5%), from €714,298 to €874,949
- Financial charges +€32,865
up €32,865 (+97.4%), from €33,729 to €66,594
of which Non-recurring financial charges: +€35,493
- Other operating charges +€13,863
up €13,863 (+23.8%), from €58,241 to €72,104
- Depreciation +€13,500
up €13,500 (+9.5%), from €142,319 to €155,819
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
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 | €1,798,023 | €1,848,432 | +€50,409 | +2.8% |
| Fixed assets | 21/28 | €850,324 | €884,615 | +€34,291 | +4.0% |
| Tangible fixed assets | 22/27 | €846,706 | €881,397 | +€34,691 | +4.1% |
| Land and buildings | 22 | €172,497 | €156,421 | -€16,076 | -9.3% |
| Plant, machinery and equipment | 23 | €280,008 | €364,479 | +€84,471 | +30.2% |
| Furniture and vehicles | 24 | €381,915 | €360,498 | -€21,417 | -5.6% |
| Leasing and similar rights | 25 | €12,287 | - | -€12,287 | |
| Financial fixed assets | 28 | €3,618 | €3,218 | -€400 | -11.1% |
| Current assets | 29/58 | €947,699 | €963,816 | +€16,118 | +1.7% |
| Stocks and contracts in progress | 3 | €318,045 | €272,565 | -€45,480 | -14.3% |
| Stocks | 30/36 | €318,045 | €272,565 | -€45,480 | -14.3% |
| Amounts receivable within one year | 40/41 | €524,287 | €540,675 | +€16,388 | +3.1% |
| Trade receivables | 40 | €432,085 | €462,885 | +€30,800 | +7.1% |
| Other amounts receivable | 41 | €92,202 | €77,791 | -€14,412 | -15.6% |
| Current investments | 50/53 | €44,248 | €44,248 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €57,587 | €79,525 | +€21,937 | +38.1% |
| Deferred charges and accrued income | 490/1 | €3,531 | €26,803 | +€23,272 | +659.1% |
| Total equity and liabilities | 10/49 | €1,798,023 | €1,848,432 | +€50,409 | +2.8% |
| Equity | 10/15 | €534,847 | €554,951 | +€20,104 | +3.8% |
| Contributions | 10/11 | €58,031 | €58,031 | = | 0.0% |
| Reserves | 13 | €230,809 | €230,809 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,826 | €5,826 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,826 | €5,826 | = | 0.0% |
| Tax-exempt reserves | 132 | €224,984 | €224,984 | = | 0.0% |
| Profit (loss) carried forward | 14 | €246,006 | €266,110 | +€20,104 | +8.2% |
| Amounts payable | 17/49 | €1,263,176 | €1,293,481 | +€30,305 | +2.4% |
| Amounts payable after more than one year | 17 | €140,922 | €194,173 | +€53,251 | +37.8% |
| Financial debts | 170/4 | €140,922 | €194,173 | +€53,251 | +37.8% |
| Amounts payable within one year | 42/48 | €1,122,254 | €1,099,308 | -€22,946 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €137,637 | €100,777 | -€36,861 | -26.8% |
| Financial debts | 43 | €100,000 | €140,000 | +€40,000 | +40.0% |
| Credit institutions | 430/8 | €100,000 | €140,000 | +€40,000 | +40.0% |
| Trade debts | 44 | €722,699 | €678,903 | -€43,796 | -6.1% |
| Suppliers | 440/4 | €722,699 | €678,903 | -€43,796 | -6.1% |
| Taxes, remuneration and social security | 45 | €148,329 | €61,910 | -€86,420 | -58.3% |
| Taxes | 450/3 | - | €1,870 | +€1,870 | |
| Remuneration and social security | 454/9 | €148,329 | €60,040 | -€88,290 | -59.5% |
| Other amounts payable | 47/48 | €13,589 | €117,719 | +€104,130 | +766.3% |
| Non-recurring operating income | 76A | €45,263 | - | -€45,263 | |
| Remuneration, social security and pensions | 62 | €714,298 | €874,949 | +€160,650 | +22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,319 | €155,819 | +€13,500 | +9.5% |
| Other operating charges | 640/8 | €58,241 | €72,104 | +€13,863 | +23.8% |
| Gross operating margin | 9900 | €846,703 | €1,176,950 | +€330,247 | +39.0% |
| Operating profit (loss) | 9901 | -€68,156 | €74,078 | +€142,234 | |
| Financial income | 75/76B | €7,182 | €12,955 | +€5,773 | +80.4% |
| Recurring financial income | 75 | €7,182 | €12,955 | +€5,773 | +80.4% |
| Financial charges | 65/66B | €33,729 | €66,594 | +€32,865 | +97.4% |
| Recurring financial charges | 65 | €33,729 | €31,101 | -€2,628 | -7.8% |
| Non-recurring financial charges | 66B | - | €35,493 | +€35,493 | |
| Profit (loss) for the period before taxes | 9903 | -€94,702 | €20,439 | +€115,141 | |
| Income taxes | 67/77 | €356 | €335 | -€22 | -6.1% |
| Profit (loss) for the period | 9904 | -€95,059 | €20,104 | +€115,163 | |
| Profit (loss) for the period to be appropriated | 9905 | -€95,059 | €20,104 | +€115,163 |
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 12 October 2026 via checked.be.