PROTEQ: 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.
PROTEQ
Largest movements
- Receivables within one year +€637,421
up €637,421 (+28.3%), from €2.3m to €2.9m
of which Other amounts receivable: +€608,470
- Stocks and contracts -€514,098
down €514,098 (-29.1%), from €1.8m to €1.3m
- Reserves +€183,310
up €183,310 (+6.4%), from €2.9m to €3.0m
of which Distributable reserves: +€183,310
- Trade debts -€111,358
down €111,358 (-20.5%), from €544,259 to €432,901
- Gross operating margin +€38,973
up €38,973 (+9.8%), from €398,045 to €437,017
- Other operating charges +€29,762
up €29,762 (+1777.1%), from €1,675 to €31,437
- Staff costs +€8,673
up €8,673 (+7.7%), from €113,200 to €121,873
- Write-downs +€8,467
up €8,467 (+77.9%), from €10,876 to €19,343
- Taxes -€6,624
down €6,624 (-10.1%), from €65,780 to €59,156
From the 31-12-2024 result to the 31-12-2025 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 | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,094,600 | €4,198,902 | +€104,301 | +2.5% |
| Fixed assets | 21/28 | €68,677 | €50,399 | -€18,278 | -26.6% |
| Tangible fixed assets | 22/27 | €68,677 | €50,399 | -€18,278 | -26.6% |
| Furniture and vehicles | 24 | €319 | - | -€319 | |
| Other tangible fixed assets | 26 | €68,358 | €50,399 | -€17,959 | -26.3% |
| Current assets | 29/58 | €4,025,924 | €4,148,503 | +€122,579 | +3.0% |
| Stocks and contracts in progress | 3 | €1,768,438 | €1,254,340 | -€514,098 | -29.1% |
| Stocks | 30/36 | €1,768,438 | €1,254,340 | -€514,098 | -29.1% |
| Amounts receivable within one year | 40/41 | €2,254,638 | €2,892,059 | +€637,421 | +28.3% |
| Trade receivables | 40 | €393,814 | €422,766 | +€28,952 | +7.4% |
| Other amounts receivable | 41 | €1,860,824 | €2,469,293 | +€608,470 | +32.7% |
| Deferred charges and accrued income | 490/1 | €2,848 | €2,104 | -€744 | -26.1% |
| Total equity and liabilities | 10/49 | €4,094,600 | €4,198,902 | +€104,301 | +2.5% |
| Equity | 10/15 | €3,524,066 | €3,707,376 | +€183,310 | +5.2% |
| Contributions | 10/11 | €663,000 | €663,000 | = | 0.0% |
| Capital | 10 | €663,000 | €663,000 | = | 0.0% |
| Issued capital | 100 | €663,000 | €663,000 | = | 0.0% |
| Reserves | 13 | €2,861,066 | €3,044,376 | +€183,310 | +6.4% |
| Non-distributable reserves | 130/1 | €66,300 | €66,300 | = | 0.0% |
| Legal reserve | 130 | €66,300 | €66,300 | = | 0.0% |
| Distributable reserves | 133 | €2,794,766 | €2,978,076 | +€183,310 | +6.6% |
| Amounts payable | 17/49 | €570,534 | €491,525 | -€79,008 | -13.8% |
| Amounts payable within one year | 42/48 | €569,908 | €491,525 | -€78,382 | -13.8% |
| Trade debts | 44 | €544,259 | €432,901 | -€111,358 | -20.5% |
| Suppliers | 440/4 | €544,259 | €432,901 | -€111,358 | -20.5% |
| Taxes, remuneration and social security | 45 | €25,649 | €58,624 | +€32,976 | +128.6% |
| Taxes | 450/3 | €10,820 | €41,764 | +€30,944 | +286.0% |
| Remuneration and social security | 454/9 | €14,829 | €16,860 | +€2,031 | +13.7% |
| Accrued charges and deferred income | 492/3 | €626 | - | -€626 | |
| Remuneration, social security and pensions | 62 | €113,200 | €121,873 | +€8,673 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,702 | €18,278 | -€1,424 | -7.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,876 | €19,343 | +€8,467 | +77.9% |
| Other operating charges | 640/8 | €1,675 | €31,437 | +€29,762 | +1777.1% |
| Gross operating margin | 9900 | €398,045 | €437,017 | +€38,973 | +9.8% |
| Operating profit (loss) | 9901 | €252,591 | €246,086 | -€6,505 | -2.6% |
| Financial income | 75/76B | €25,561 | €23,363 | -€2,198 | -8.6% |
| Recurring financial income | 75 | €25,561 | €23,363 | -€2,198 | -8.6% |
| Financial charges | 65/66B | €20,694 | €26,983 | +€6,290 | +30.4% |
| Recurring financial charges | 65 | €20,694 | €26,983 | +€6,290 | +30.4% |
| Profit (loss) for the period before taxes | 9903 | €257,459 | €242,466 | -€14,993 | -5.8% |
| Income taxes | 67/77 | €65,780 | €59,156 | -€6,624 | -10.1% |
| Profit (loss) for the period | 9904 | €191,678 | €183,310 | -€8,369 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €191,678 | €183,310 | -€8,369 | -4.4% |
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 10 October 2026 via checked.be.