PROY AND PHET: 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.
PROY AND PHET
Largest movements
- Receivables within one year -€11,886
down €11,886 (-80.3%), from €14,805 to €2,919
of which Other amounts receivable: -€11,550
- Tangible fixed assets +€8,277
up €8,277 (+148%), from €5,609 to €13,886
of which Other tangible fixed assets: +€12,346
- Deferred charges and accrued income -€2,144
no longer reported in 2025 (was €2,144)
- Stocks and contracts -€1,066
down €1,066 (-25.8%), from €4,131 to €3,065
- Cash -€336
no longer reported in 2025 (was €336)
mainly Investment in fixed assets (net) (-€13,908) and Tax, wage and social debts (-€13,675)
- Profit (loss) carried forward +€16,256
up €16,256 (+42.1%), from -€38,629 to -€22,372
- Tax, wage and social debts -€13,675
down €13,675 (-38.7%), from €35,354 to €21,679
of which Remuneration and social security: -€7,694
- Trade debts -€7,253
down €7,253 (-67.2%), from €10,790 to €3,537
- Short-term financial debts -€2,558
down €2,558 (-62.6%), from €4,087 to €1,529
- Gross operating margin +€48,374
up €48,374 (+41.7%), from €116,100 to €164,474
- Staff costs +€24,265
up €24,265 (+22.8%), from €106,275 to €130,540
- Taxes +€5,362
up €5,362 (+368%), from €1,456 to €6,818
- Depreciation +€4,814
up €4,814 (+589%), from €817 to €5,631
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 | €30,213 | €23,059 | -€7,155 | -23.7% |
| Fixed assets | 21/28 | €8,797 | €17,074 | +€8,277 | +94.1% |
| Tangible fixed assets | 22/27 | €5,609 | €13,886 | +€8,277 | +148% |
| Plant, machinery and equipment | 23 | €5,489 | €443 | -€5,046 | -91.9% |
| Furniture and vehicles | 24 | - | €977 | +€977 | |
| Other tangible fixed assets | 26 | €119 | €12,466 | +€12,346 | +10,338% |
| Financial fixed assets | 28 | €3,189 | €3,189 | = | 0.0% |
| Current assets | 29/58 | €21,416 | €5,984 | -€15,432 | -72.1% |
| Stocks and contracts in progress | 3 | €4,131 | €3,065 | -€1,066 | -25.8% |
| Stocks | 30/36 | €4,131 | €3,065 | -€1,066 | -25.8% |
| Amounts receivable within one year | 40/41 | €14,805 | €2,919 | -€11,886 | -80.3% |
| Trade receivables | 40 | €336 | - | -€336 | |
| Other amounts receivable | 41 | €14,468 | €2,919 | -€11,550 | -79.8% |
| Cash at bank and in hand | 54/58 | €336 | - | -€336 | |
| Deferred charges and accrued income | 490/1 | €2,144 | - | -€2,144 | |
| Total equity and liabilities | 10/49 | €30,213 | €23,059 | -€7,155 | -23.7% |
| Equity | 10/15 | -€20,037 | -€3,780 | +€16,256 | +81.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,629 | -€22,372 | +€16,256 | +42.1% |
| Amounts payable | 17/49 | €50,250 | €26,839 | -€23,411 | -46.6% |
| Amounts payable within one year | 42/48 | €50,250 | €26,839 | -€23,411 | -46.6% |
| Financial debts | 43 | €4,087 | €1,529 | -€2,558 | -62.6% |
| Credit institutions | 430/8 | €4,087 | €1,529 | -€2,558 | -62.6% |
| Trade debts | 44 | €10,790 | €3,537 | -€7,253 | -67.2% |
| Suppliers | 440/4 | €10,790 | €3,537 | -€7,253 | -67.2% |
| Taxes, remuneration and social security | 45 | €35,354 | €21,679 | -€13,675 | -38.7% |
| Taxes | 450/3 | €23,318 | €17,336 | -€5,981 | -25.7% |
| Remuneration and social security | 454/9 | €12,036 | €4,342 | -€7,694 | -63.9% |
| Other amounts payable | 47/48 | €19 | €94 | +€75 | +395% |
| Remuneration, social security and pensions | 62 | €106,275 | €130,540 | +€24,265 | +22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €817 | €5,631 | +€4,814 | +589% |
| Other operating charges | 640/8 | €478 | €494 | +€15 | +3.2% |
| Gross operating margin | 9900 | €116,100 | €164,474 | +€48,374 | +41.7% |
| Operating profit (loss) | 9901 | €8,530 | €27,810 | +€19,280 | +226% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €4,915 | €4,738 | -€177 | -3.6% |
| Recurring financial charges | 65 | €4,915 | €4,738 | -€177 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €3,615 | €23,074 | +€19,459 | +538% |
| Income taxes | 67/77 | €1,456 | €6,818 | +€5,362 | +368% |
| Profit (loss) for the period | 9904 | €2,159 | €16,256 | +€14,098 | +653% |
| Profit (loss) for the period to be appropriated | 9905 | €2,159 | €16,256 | +€14,098 | +653% |
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 27 October 2026 via checked.be.