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
- Cash +€30,970
up €30,970 (+50.4%), from €61,405 to €92,375
mainly Net result for the year (+€26,380) and Depreciation (+€8,886)
- Tangible fixed assets -€8,886
down €8,886 (-23.6%), from €37,706 to €28,820
of which Furniture and vehicles: -€6,750
- Receivables within one year +€2,025
up €2,025 (+25.1%), from €8,081 to €10,106
of which Other amounts receivable: +€1,606
- Profit (loss) carried forward +€26,380
up €26,380 (+26.0%), from €101,431 to €127,810
- Other debts -€1,474
down €1,474 (-78.7%), from €1,872 to €398
- Tax, wage and social debts -€1,420
down €1,420 (-90.3%), from €1,572 to €152
- Gross operating margin -€3,598
down €3,598 (-7.7%), from €46,687 to €43,089
- Depreciation +€2,279
up €2,279 (+34.5%), from €6,607 to €8,886
- Taxes -€1,060
down €1,060 (-13.3%), from €7,955 to €6,894
- Other operating charges +€468
up €468 (+150%), from €311 to €779
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 | €108,192 | €131,873 | +€23,681 | +21.9% |
| Fixed assets | 21/28 | €37,706 | €28,820 | -€8,886 | -23.6% |
| Tangible fixed assets | 22/27 | €37,706 | €28,820 | -€8,886 | -23.6% |
| Land and buildings | 22 | €13,315 | €11,698 | -€1,617 | -12.1% |
| Plant, machinery and equipment | 23 | €1,504 | €985 | -€519 | -34.5% |
| Furniture and vehicles | 24 | €22,887 | €16,137 | -€6,750 | -29.5% |
| Current assets | 29/58 | €70,486 | €103,053 | +€32,567 | +46.2% |
| Amounts receivable within one year | 40/41 | €8,081 | €10,106 | +€2,025 | +25.1% |
| Trade receivables | 40 | €7,623 | €8,042 | +€419 | +5.5% |
| Other amounts receivable | 41 | €458 | €2,064 | +€1,606 | +350% |
| Cash at bank and in hand | 54/58 | €61,405 | €92,375 | +€30,970 | +50.4% |
| Deferred charges and accrued income | 490/1 | €999 | €572 | -€427 | -42.8% |
| Total equity and liabilities | 10/49 | €108,192 | €131,873 | +€23,681 | +21.9% |
| Equity | 10/15 | €104,431 | €130,810 | +€26,380 | +25.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,431 | €127,810 | +€26,380 | +26.0% |
| Amounts payable | 17/49 | €3,761 | €1,063 | -€2,699 | -71.7% |
| Amounts payable within one year | 42/48 | €3,761 | €1,063 | -€2,699 | -71.7% |
| Trade debts | 44 | €317 | €513 | +€196 | +61.7% |
| Suppliers | 440/4 | €317 | €513 | +€196 | +61.7% |
| Taxes, remuneration and social security | 45 | €1,572 | €152 | -€1,420 | -90.3% |
| Taxes | 450/3 | €1,572 | €152 | -€1,420 | -90.3% |
| Other amounts payable | 47/48 | €1,872 | €398 | -€1,474 | -78.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,607 | €8,886 | +€2,279 | +34.5% |
| Other operating charges | 640/8 | €311 | €779 | +€468 | +150% |
| Non-recurring operating charges | 66A | €1,386 | €0 | -€1,386 | -100% |
| Gross operating margin | 9900 | €46,687 | €43,089 | -€3,598 | -7.7% |
| Operating profit (loss) | 9901 | €38,383 | €33,424 | -€4,959 | -12.9% |
| Financial income | 75/76B | €34 | €0 | -€34 | -99.8% |
| Recurring financial income | 75 | €34 | €0 | -€34 | -99.8% |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €38,282 | €33,274 | -€5,008 | -13.1% |
| Income taxes | 67/77 | €7,955 | €6,894 | -€1,060 | -13.3% |
| Profit (loss) for the period | 9904 | €30,327 | €26,380 | -€3,948 | -13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,327 | €26,380 | -€3,948 | -13.0% |
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 14 October 2026 via checked.be.