PROTEUS: 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.
What changed
PROTEUS
NACE 73.200, Market research and public opinion polling
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.0m
2024 · €161,078+€880,018
Equity
€5.1m
2024 · €3.5m+€1.5m
Cash
€178,398
2024 · €724,348-€545,950
Balance sheet total
€5.8m
2024 · €4.5m+€1.2m
Largest movements
Assets
- Current investments +€1.4m
new in 2025: €1.4m
- Cash -€545,950
down €545,950 (-75.4%), from €724,348 to €178,398
mainly Current investments (-€1.4m) and Receivables after one year (-€474,305)
- Receivables after one year +€474,305
up €474,305 (+158.1%), from €300,000 to €774,305
- Tangible fixed assets +€421,479
up €421,479 (+20.1%), from €2.1m to €2.5m
of which Land and buildings: +€298,730
- Financial fixed assets -€285,719
down €285,719 (-28.1%), from €1.0m to €732,834
Equity and liabilities
- Profit (loss) carried forward +€991,873
up €991,873 (+98.2%), from €1.0m to €2.0m
- Contributions +€505,000
up €505,000 (+20.5%), from €2.5m to €3.0m
- Debts after one year -€225,680
down €225,680 (-28.2%), from €800,000 to €574,320
Income statement
- Gross operating margin +€840,174
up €840,174 (+405.1%), from €207,391 to €1.0m
- Depreciation +€41,915
up €41,915 (+87.7%), from €47,774 to €89,690
- Financial charges -€31,854
down €31,854 (-56.0%), from €56,833 to €24,980
- Taxes -€27,290
down €27,290 (-96.3%), from €28,332 to €1,042
- Financial income +€15,928
up €15,928 (+15.5%), from €102,549 to €118,477
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.
Result 2024
€161,078
Gross operating margin
+€840,174
Depreciation
-€41,915
Other operating charges
+€6,688
Financial income
+€15,928
Financial charges
+€31,854
Taxes
+€27,290
Result 2025
€1.0m
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.
From operations
+€817,479
Investment
-€1.7m
Financing
+€287,021
Cash 2024
€724,348
From operations (derived)
+€817,479
Net result for the year
+€1.0m
Depreciation
+€89,690
Receivables after one year
-€474,305
Receivables within one year
+€245,511
Smaller working-capital items
-€985
Trade debts
-€41,919
Tax, wage and social debts
-€31,959
Accrued charges and deferred income
-€9,651
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€225,450
Current investments
-€1.4m
Financing
+€287,021
Debts after one year
-€225,680
Current portion of long-term debt
+€7,252
Short-term financial debts
+€448
Contributions, distributions and other
+€505,000
Cash 2025
€178,398
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,518,853 | €5,760,299 | +€1.2m | +27.5% |
| Fixed assets | 21/28 | €3,117,314 | €3,253,075 | +€135,761 | +4.4% |
| Tangible fixed assets | 22/27 | €2,098,762 | €2,520,241 | +€421,479 | +20.1% |
| Land and buildings | 22 | €1,863,168 | €2,161,898 | +€298,730 | +16.0% |
| Plant, machinery and equipment | 23 | - | €4,083 | +€4,083 | |
| Furniture and vehicles | 24 | €4,871 | €43,236 | +€38,365 | +787.6% |
| Other tangible fixed assets | 26 | €230,723 | €211,899 | -€18,824 | -8.2% |
| Assets under construction and advance payments | 27 | - | €99,125 | +€99,125 | |
| Financial fixed assets | 28 | €1,018,553 | €732,834 | -€285,719 | -28.1% |
| Current assets | 29/58 | €1,401,539 | €2,507,224 | +€1.1m | +78.9% |
| Amounts receivable after more than one year | 29 | €300,000 | €774,305 | +€474,305 | +158.1% |
| Other amounts receivable | 291 | €300,000 | €774,305 | +€474,305 | +158.1% |
| Amounts receivable within one year | 40/41 | €321,947 | €76,436 | -€245,511 | -76.3% |
| Trade receivables | 40 | €1,379 | €38,277 | +€36,897 | +2674.9% |
| Other amounts receivable | 41 | €320,568 | €38,159 | -€282,409 | -88.1% |
| Current investments | 50/53 | - | €1,425,000 | +€1.4m | |
| Cash at bank and in hand | 54/58 | €724,348 | €178,398 | -€545,950 | -75.4% |
| Deferred charges and accrued income | 490/1 | €55,243 | €53,085 | -€2,158 | -3.9% |
| Total equity and liabilities | 10/49 | €4,518,853 | €5,760,299 | +€1.2m | +27.5% |
| Equity | 10/15 | €3,523,850 | €5,069,946 | +€1.5m | +43.9% |
| Contributions | 10/11 | €2,467,077 | €2,972,077 | +€505,000 | +20.5% |
| Capital | 10 | €2,467,077 | €2,972,077 | +€505,000 | +20.5% |
| Issued capital | 100 | €2,467,077 | €4,468,635 | +€2.0m | +81.1% |
| Uncalled capital | 101 | - | €1,496,558 | +€1.5m | |
| Reserves | 13 | €46,948 | €96,172 | +€49,223 | +104.8% |
| Non-distributable reserves | 130/1 | €34,896 | €87,100 | +€52,204 | +149.6% |
| Legal reserve | 130 | €34,896 | €87,100 | +€52,204 | +149.6% |
| Tax-exempt reserves | 132 | €12,052 | €9,072 | -€2,981 | -24.7% |
| Profit (loss) carried forward | 14 | €1,009,824 | €2,001,697 | +€991,873 | +98.2% |
| Provisions and deferred taxes | 16 | €3,741 | €2,747 | -€994 | -26.6% |
| Deferred taxes | 168 | €3,741 | €2,747 | -€994 | -26.6% |
| Amounts payable | 17/49 | €991,263 | €687,606 | -€303,657 | -30.6% |
| Amounts payable after more than one year | 17 | €800,000 | €574,320 | -€225,680 | -28.2% |
| Financial debts | 170/4 | €800,000 | €574,320 | -€225,680 | -28.2% |
| Amounts payable within one year | 42/48 | €138,776 | €70,449 | -€68,326 | -49.2% |
| Current portion of amounts payable after more than one year | 42 | - | €7,252 | +€7,252 | |
| Financial debts | 43 | - | €448 | +€448 | |
| Credit institutions | 430/8 | - | €448 | +€448 | |
| Trade debts | 44 | €56,340 | €14,421 | -€41,919 | -74.4% |
| Suppliers | 440/4 | €56,340 | €14,421 | -€41,919 | -74.4% |
| Taxes, remuneration and social security | 45 | €79,036 | €47,077 | -€31,959 | -40.4% |
| Taxes | 450/3 | €79,036 | €47,077 | -€31,959 | -40.4% |
| Other amounts payable | 47/48 | €3,400 | €1,250 | -€2,149 | -63.2% |
| Accrued charges and deferred income | 492/3 | €52,488 | €42,837 | -€9,651 | -18.4% |
| Non-recurring operating income | 76A | - | €1,140,189 | +€1.1m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,774 | €89,690 | +€41,915 | +87.7% |
| Other operating charges | 640/8 | €16,916 | €10,228 | -€6,688 | -39.5% |
| Gross operating margin | 9900 | €207,391 | €1,047,565 | +€840,174 | +405.1% |
| Operating profit (loss) | 9901 | €142,700 | €947,647 | +€804,947 | +564.1% |
| Financial income | 75/76B | €102,549 | €118,477 | +€15,928 | +15.5% |
| Recurring financial income | 75 | €102,549 | €118,477 | +€15,928 | +15.5% |
| Financial charges | 65/66B | €56,833 | €24,980 | -€31,854 | -56.0% |
| Recurring financial charges | 65 | €56,833 | €24,980 | -€31,854 | -56.0% |
| Profit (loss) for the period before taxes | 9903 | €188,416 | €1,041,145 | +€852,729 | +452.6% |
| Transfer from deferred taxes | 780 | €994 | €994 | = | 0.0% |
| Income taxes | 67/77 | €28,332 | €1,042 | -€27,290 | -96.3% |
| Profit (loss) for the period | 9904 | €161,078 | €1,041,096 | +€880,018 | +546.3% |
| Transfer from tax-exempt reserves | 789 | €2,981 | €2,981 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €164,059 | €1,044,077 | +€880,018 | +536.4% |
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.