sd proteco: 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.
sd proteco
Largest movements
- Tangible fixed assets +€67,984
up €67,984 (+105%), from €65,021 to €133,005
of which Furniture and vehicles: +€68,925
- Cash +€62,953
up €62,953 (+44.4%), from €141,816 to €204,769
mainly Net result for the year (+€221,098) and Tax, wage and social debts (+€47,380)
- Receivables within one year +€62,771
up €62,771 (+38.7%), from €162,036 to €224,807
of which Trade receivables: +€88,031
- Current investments +€42,675
up €42,675 (+2,134%), from €2,000 to €44,675
- Reserves +€182,068
up €182,068 (+62.3%), from €292,479 to €474,547
- Tax, wage and social debts +€47,380
up €47,380 (+172%), from €27,509 to €74,890
of which Taxes: +€45,180
- Other debts +€20,110
up €20,110 (+2,284%), from €881 to €20,990
- Debts after one year -€15,462
down €15,462 (-56.2%), from €27,492 to €12,030
- Gross operating margin +€140,019
up €140,019 (+68.6%), from €204,208 to €344,227
- Taxes +€45,048
up €45,048 (+83.5%), from €53,971 to €99,018
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 | €376,941 | €612,907 | +€235,967 | +62.6% |
| Fixed assets | 21/28 | €65,021 | €133,005 | +€67,984 | +105% |
| Tangible fixed assets | 22/27 | €65,021 | €133,005 | +€67,984 | +105% |
| Plant, machinery and equipment | 23 | €7,153 | €6,212 | -€941 | -13.2% |
| Furniture and vehicles | 24 | €57,868 | €126,793 | +€68,925 | +119% |
| Current assets | 29/58 | €311,920 | €479,902 | +€167,983 | +53.9% |
| Stocks and contracts in progress | 3 | €2,920 | - | -€2,920 | |
| Stocks | 30/36 | €2,920 | - | -€2,920 | |
| Amounts receivable within one year | 40/41 | €162,036 | €224,807 | +€62,771 | +38.7% |
| Trade receivables | 40 | €112,656 | €200,687 | +€88,031 | +78.1% |
| Other amounts receivable | 41 | €49,380 | €24,120 | -€25,260 | -51.2% |
| Current investments | 50/53 | €2,000 | €44,675 | +€42,675 | +2,134% |
| Cash at bank and in hand | 54/58 | €141,816 | €204,769 | +€62,953 | +44.4% |
| Deferred charges and accrued income | 490/1 | €3,148 | €5,651 | +€2,503 | +79.5% |
| Total equity and liabilities | 10/49 | €376,941 | €612,907 | +€235,967 | +62.6% |
| Equity | 10/15 | €298,679 | €480,747 | +€182,068 | +61.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €292,479 | €474,547 | +€182,068 | +62.3% |
| Distributable reserves | 133 | €292,479 | €474,547 | +€182,068 | +62.3% |
| Amounts payable | 17/49 | €78,262 | €132,160 | +€53,898 | +68.9% |
| Amounts payable after more than one year | 17 | €27,492 | €12,030 | -€15,462 | -56.2% |
| Financial debts | 170/4 | €27,492 | €12,030 | -€15,462 | -56.2% |
| Amounts payable within one year | 42/48 | €48,748 | €119,325 | +€70,577 | +145% |
| Current portion of amounts payable after more than one year | 42 | €14,827 | €15,462 | +€635 | +4.3% |
| Trade debts | 44 | €5,531 | €7,983 | +€2,452 | +44.3% |
| Suppliers | 440/4 | €5,531 | €7,983 | +€2,452 | +44.3% |
| Taxes, remuneration and social security | 45 | €27,509 | €74,890 | +€47,380 | +172% |
| Taxes | 450/3 | €22,707 | €67,888 | +€45,180 | +199% |
| Remuneration and social security | 454/9 | €4,802 | €7,002 | +€2,200 | +45.8% |
| Other amounts payable | 47/48 | €881 | €20,990 | +€20,110 | +2,284% |
| Accrued charges and deferred income | 492/3 | €2,023 | €806 | -€1,217 | -60.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,323 | €21,991 | +€1,668 | +8.2% |
| Other operating charges | 640/8 | €681 | €400 | -€281 | -41.3% |
| Gross operating margin | 9900 | €204,208 | €344,227 | +€140,019 | +68.6% |
| Operating profit (loss) | 9901 | €183,203 | €321,836 | +€138,633 | +75.7% |
| Financial income | 75/76B | €1 | €0 | -€1 | -91.7% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -91.7% |
| Financial charges | 65/66B | €2,691 | €1,720 | -€971 | -36.1% |
| Recurring financial charges | 65 | €2,691 | €1,720 | -€971 | -36.1% |
| Profit (loss) for the period before taxes | 9903 | €180,513 | €320,116 | +€139,603 | +77.3% |
| Income taxes | 67/77 | €53,971 | €99,018 | +€45,048 | +83.5% |
| Profit (loss) for the period | 9904 | €126,543 | €221,098 | +€94,555 | +74.7% |
| Profit (loss) for the period to be appropriated | 9905 | €126,543 | €221,098 | +€94,555 | +74.7% |
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 28 October 2026 via checked.be.