ProtonW.be: 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.
ProtonW.be
Largest movements
- Tangible fixed assets +€309,073
new in 2025: €309,073
of which Assets under construction and advance payments: +€308,136
- Receivables within one year +€177,662
up €177,662 (+249%), from €71,292 to €248,954
of which Trade receivables: +€154,462
- Cash -€102,411
down €102,411 (-12.6%), from €814,343 to €711,932
mainly Net result for the year (-€615,777) and Investment in fixed assets (net) (-€309,073)
- Trade debts +€995,151
up €995,151 (+3,669%), from €27,124 to €1.0m
- Profit (loss) carried forward -€615,777
down €615,777 (-340%), from -€181,141 to -€796,918
- Financial charges +€592,519
up €592,519 (+214,805%), from €276 to €592,795
of which Non-recurring financial charges: +€592,542
- Gross operating margin +€61,375
up €61,375 (+88.9%), from -€69,018 to -€7,643
- Financial income -€21,931
down €21,931 (-83.9%), from €26,127 to €4,196
- Other operating charges +€19,535
new in 2025: €19,535
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 | €885,982 | €1,269,965 | +€383,983 | +43.3% |
| Fixed assets | 21/28 | €6 | €309,079 | +€309,073 | +4,985,053% |
| Tangible fixed assets | 22/27 | - | €309,073 | +€309,073 | |
| Furniture and vehicles | 24 | - | €937 | +€937 | |
| Assets under construction and advance payments | 27 | - | €308,136 | +€308,136 | |
| Financial fixed assets | 28 | €6 | €6 | = | 0.0% |
| Current assets | 29/58 | €885,976 | €960,886 | +€74,910 | +8.5% |
| Amounts receivable within one year | 40/41 | €71,292 | €248,954 | +€177,662 | +249% |
| Trade receivables | 40 | €19,414 | €173,876 | +€154,462 | +796% |
| Other amounts receivable | 41 | €51,878 | €75,078 | +€23,200 | +44.7% |
| Cash at bank and in hand | 54/58 | €814,343 | €711,932 | -€102,411 | -12.6% |
| Deferred charges and accrued income | 490/1 | €341 | - | -€341 | |
| Total equity and liabilities | 10/49 | €885,982 | €1,269,965 | +€383,983 | +43.3% |
| Equity | 10/15 | €858,859 | €243,082 | -€615,777 | -71.7% |
| Contributions | 10/11 | €1,040,000 | €1,040,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€181,141 | -€796,918 | -€615,777 | -340% |
| Amounts payable | 17/49 | €27,124 | €1,026,883 | +€999,760 | +3,686% |
| Amounts payable within one year | 42/48 | €27,124 | €1,026,883 | +€999,760 | +3,686% |
| Trade debts | 44 | €27,124 | €1,022,274 | +€995,151 | +3,669% |
| Suppliers | 440/4 | €27,124 | €1,022,274 | +€995,151 | +3,669% |
| Other amounts payable | 47/48 | - | €4,609 | +€4,609 | |
| Other operating charges | 640/8 | - | €19,535 | +€19,535 | |
| Gross operating margin | 9900 | -€69,018 | -€7,643 | +€61,375 | +88.9% |
| Operating profit (loss) | 9901 | -€69,018 | -€27,178 | +€41,840 | +60.6% |
| Financial income | 75/76B | €26,127 | €4,196 | -€21,931 | -83.9% |
| Recurring financial income | 75 | €26,127 | €4,196 | -€21,931 | -83.9% |
| Financial charges | 65/66B | €276 | €592,795 | +€592,519 | +214,805% |
| Recurring financial charges | 65 | €276 | €253 | -€23 | -8.4% |
| Non-recurring financial charges | 66B | - | €592,542 | +€592,542 | |
| Profit (loss) for the period before taxes | 9903 | -€43,167 | -€615,777 | -€572,609 | -1,326% |
| Profit (loss) for the period | 9904 | -€43,167 | -€615,777 | -€572,609 | -1,326% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,167 | -€615,777 | -€572,609 | -1,326% |
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 20 October 2026 via checked.be.