RE PROGRESSO: 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.
RE PROGRESSO
Largest movements
- Cash -€200,530
down €200,530 (-97.6%), from €205,502 to €4,972
mainly Other debts (-€254,816) and Accrued charges and deferred income (-€22,145)
- Current investments -€54,826
down €54,826 (-54.8%), from €100,000 to €45,174
- Tangible fixed assets -€41,293
down €41,293 (-3.6%), from €1.2m to €1.1m
of which Land and buildings: -€40,308
- Receivables within one year -€21,478
down €21,478 (-70.3%), from €30,563 to €9,085
of which Other amounts receivable: -€14,631
- Other debts -€254,816
down €254,816 (-43.2%), from €590,148 to €335,332
- Accrued charges and deferred income -€22,145
down €22,145 (-87.2%), from €25,407 to €3,261
- Debts after one year -€20,593
down €20,593 (-9.8%), from €210,189 to €189,596
- Financial charges -€34,940
down €34,940 (-93.2%), from €37,502 to €2,562
- Financial income +€8,232
up €8,232 (+136%), from €6,036 to €14,268
- Gross operating margin -€7,144
down €7,144 (-22.1%), from €32,392 to €25,248
- Depreciation -€860
down €860 (-2.0%), from €42,153 to €41,293
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 | €1,496,901 | €1,178,455 | -€318,447 | -21.3% |
| Fixed assets | 21/28 | €1,160,046 | €1,118,753 | -€41,293 | -3.6% |
| Tangible fixed assets | 22/27 | €1,160,046 | €1,118,753 | -€41,293 | -3.6% |
| Land and buildings | 22 | €1,157,400 | €1,117,092 | -€40,308 | -3.5% |
| Furniture and vehicles | 24 | €2,647 | €1,661 | -€986 | -37.2% |
| Current assets | 29/58 | €336,855 | €59,702 | -€277,153 | -82.3% |
| Amounts receivable within one year | 40/41 | €30,563 | €9,085 | -€21,478 | -70.3% |
| Trade receivables | 40 | €12,744 | €5,897 | -€6,847 | -53.7% |
| Other amounts receivable | 41 | €17,819 | €3,188 | -€14,631 | -82.1% |
| Current investments | 50/53 | €100,000 | €45,174 | -€54,826 | -54.8% |
| Cash at bank and in hand | 54/58 | €205,502 | €4,972 | -€200,530 | -97.6% |
| Deferred charges and accrued income | 490/1 | €790 | €471 | -€320 | -40.4% |
| Total equity and liabilities | 10/49 | €1,496,901 | €1,178,455 | -€318,447 | -21.3% |
| Equity | 10/15 | €618,971 | €609,626 | -€9,344 | -1.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €657,193 | €657,193 | = | 0.0% |
| Tax-exempt reserves | 132 | €117,481 | €117,481 | = | 0.0% |
| Distributable reserves | 133 | €539,712 | €539,712 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,422 | -€53,767 | -€9,344 | -21.0% |
| Provisions and deferred taxes | 16 | €12,915 | €12,915 | = | 0.0% |
| Deferred taxes | 168 | €12,915 | €12,915 | = | 0.0% |
| Amounts payable | 17/49 | €865,015 | €555,913 | -€309,102 | -35.7% |
| Amounts payable after more than one year | 17 | €210,189 | €189,596 | -€20,593 | -9.8% |
| Financial debts | 170/4 | €210,189 | €189,596 | -€20,593 | -9.8% |
| Amounts payable within one year | 42/48 | €629,419 | €363,056 | -€266,364 | -42.3% |
| Current portion of amounts payable after more than one year | 42 | €15,534 | €24,511 | +€8,977 | +57.8% |
| Trade debts | 44 | €13,213 | €3,138 | -€10,074 | -76.2% |
| Suppliers | 440/4 | €13,213 | €3,138 | -€10,074 | -76.2% |
| Advances received on contracts in progress | 46 | - | €74 | +€74 | |
| Taxes, remuneration and social security | 45 | €10,524 | - | -€10,524 | |
| Taxes | 450/3 | €10,524 | - | -€10,524 | |
| Other amounts payable | 47/48 | €590,148 | €335,332 | -€254,816 | -43.2% |
| Accrued charges and deferred income | 492/3 | €25,407 | €3,261 | -€22,145 | -87.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,153 | €41,293 | -€860 | -2.0% |
| Other operating charges | 640/8 | €5,010 | €5,004 | -€5 | -0.1% |
| Gross operating margin | 9900 | €32,392 | €25,248 | -€7,144 | -22.1% |
| Operating profit (loss) | 9901 | -€14,772 | -€21,050 | -€6,278 | -42.5% |
| Financial income | 75/76B | €6,036 | €14,268 | +€8,232 | +136% |
| Recurring financial income | 75 | €6,036 | €14,268 | +€8,232 | +136% |
| Financial charges | 65/66B | €37,502 | €2,562 | -€34,940 | -93.2% |
| Recurring financial charges | 65 | €37,502 | €2,562 | -€34,940 | -93.2% |
| Profit (loss) for the period before taxes | 9903 | -€46,237 | -€9,344 | +€36,893 | +79.8% |
| Transfer from deferred taxes | 780 | €454 | - | -€454 | |
| Profit (loss) for the period | 9904 | -€45,784 | -€9,344 | +€36,439 | +79.6% |
| Transfer from tax-exempt reserves | 789 | €1,361 | - | -€1,361 | |
| Profit (loss) for the period to be appropriated | 9905 | -€44,422 | -€9,344 | +€35,078 | +79.0% |
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 17 October 2026 via checked.be.