27 Projects: 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.
27 Projects
Largest movements
- Tangible fixed assets -€13,767
down €13,767 (-6.0%), from €228,879 to €215,112
of which Other tangible fixed assets: -€7,524
- Cash +€5,351
up €5,351 (+58.8%), from €9,095 to €14,446
mainly Depreciation (+€13,767) and Net result for the year (+€6,336)
- Other debts -€14,957
down €14,957 (-4.3%), from €348,554 to €333,597
- Profit (loss) carried forward +€6,336
up €6,336 (+3.0%), from -€209,909 to -€203,573
- Debts after one year -€5,476
down €5,476 (-10.4%), from €52,726 to €47,250
of which Financial debts: -€5,476
- Trade debts +€4,896
up €4,896 (+123.5%), from €3,964 to €8,860
- Purchases and services +€39,510
up €39,510 (+91.9%), from €42,972 to €82,482
- Gross operating margin +€21,349
up €21,349 (+400.5%), from €5,331 to €26,680
- Depreciation -€13,353
down €13,353 (-49.2%), from €27,120 to €13,767
- Turnover -€13,012
down €13,012 (-26.9%), from €48,303 to €35,291
- Other operating charges +€3,072
up €3,072 (+180.3%), from €1,704 to €4,776
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €239,532 | €230,575 | -€8,957 | -3.7% |
| Fixed assets | 21/28 | €228,879 | €215,112 | -€13,767 | -6.0% |
| Tangible fixed assets | 22/27 | €228,879 | €215,112 | -€13,767 | -6.0% |
| Land and buildings | 22 | €135,914 | €130,051 | -€5,863 | -4.3% |
| Furniture and vehicles | 24 | €64,935 | €64,555 | -€380 | -0.6% |
| Other tangible fixed assets | 26 | €28,030 | €20,506 | -€7,524 | -26.8% |
| Current assets | 29/58 | €10,653 | €15,463 | +€4,810 | +45.2% |
| Cash at bank and in hand | 54/58 | €9,095 | €14,446 | +€5,351 | +58.8% |
| Deferred charges and accrued income | 490/1 | €1,558 | €1,017 | -€541 | -34.7% |
| Total equity and liabilities | 10/49 | €239,532 | €230,575 | -€8,957 | -3.7% |
| Equity | 10/15 | -€170,699 | -€164,363 | +€6,336 | +3.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,610 | €20,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€209,909 | -€203,573 | +€6,336 | +3.0% |
| Amounts payable | 17/49 | €410,231 | €394,938 | -€15,293 | -3.7% |
| Amounts payable after more than one year | 17 | €52,726 | €47,250 | -€5,476 | -10.4% |
| Financial debts | 170/4 | €47,416 | €41,940 | -€5,476 | -11.5% |
| Other amounts payable | 178/9 | €5,310 | €5,310 | = | 0.0% |
| Amounts payable within one year | 42/48 | €357,505 | €347,688 | -€9,817 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €4,987 | €5,231 | +€244 | +4.9% |
| Trade debts | 44 | €3,964 | €8,860 | +€4,896 | +123.5% |
| Suppliers | 440/4 | €3,964 | €8,860 | +€4,896 | +123.5% |
| Other amounts payable | 47/48 | €348,554 | €333,597 | -€14,957 | -4.3% |
| Turnover | 70 | €48,303 | €35,291 | -€13,012 | -26.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €42,972 | €82,482 | +€39,510 | +91.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,120 | €13,767 | -€13,353 | -49.2% |
| Other operating charges | 640/8 | €1,704 | €4,776 | +€3,072 | +180.3% |
| Gross operating margin | 9900 | €5,331 | €26,680 | +€21,349 | +400.5% |
| Operating profit (loss) | 9901 | -€23,493 | €8,137 | +€31,630 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,963 | €1,634 | -€329 | -16.8% |
| Recurring financial charges | 65 | €1,963 | €1,634 | -€329 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | -€25,456 | €6,504 | +€31,960 | |
| Income taxes | 67/77 | €164 | €168 | +€4 | +2.4% |
| Profit (loss) for the period | 9904 | -€25,620 | €6,336 | +€31,956 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,620 | €6,336 | +€31,956 |
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 29 September 2026 via checked.be.