A&O Projects: 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.
A&O Projects
Largest movements
- Receivables within one year +€79,005
up €79,005 (+120.1%), from €65,758 to €144,763
of which Other amounts receivable: +€70,219
- Financial fixed assets +€3,075
new in 2026: €3,075
- Tangible fixed assets +€2,532
up €2,532 (+9.2%), from €27,558 to €30,090
of which Plant, machinery and equipment: +€1,393
- Deferred charges and accrued income +€2,491
new in 2026: €2,491
- Other debts +€72,217
up €72,217 (+31.0%), from €232,591 to €304,808
- Tax, wage and social debts +€3,571
up €3,571 (+61.0%), from €5,854 to €9,425
- Trade debts +€3,275
up €3,275 (+95.0%), from €3,447 to €6,722
- Gross operating margin +€49,054
up €49,054, from -€39,908 to €9,146
- Other operating charges -€8,836
down €8,836 (-76.9%), from €11,486 to €2,650
- Depreciation +€1,587
up €1,587 (+41.9%), from €3,787 to €5,374
- Financial income +€1,065
up €1,065 (+2267.7%), from €47 to €1,112
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €115,650 | €198,032 | +€82,382 | +71.2% |
| Fixed assets | 21/28 | €41,220 | €45,039 | +€3,819 | +9.3% |
| Intangible fixed assets | 21 | €13,662 | €11,873 | -€1,789 | -13.1% |
| Tangible fixed assets | 22/27 | €27,558 | €30,090 | +€2,532 | +9.2% |
| Land and buildings | 22 | €25,556 | €25,785 | +€229 | +0.9% |
| Plant, machinery and equipment | 23 | €284 | €1,677 | +€1,393 | +490.6% |
| Furniture and vehicles | 24 | €1,718 | €2,628 | +€910 | +53.0% |
| Financial fixed assets | 28 | - | €3,075 | +€3,075 | |
| Current assets | 29/58 | €74,430 | €152,993 | +€78,564 | +105.6% |
| Stocks and contracts in progress | 3 | €2,485 | €685 | -€1,800 | -72.4% |
| Stocks | 30/36 | €2,485 | €685 | -€1,800 | -72.4% |
| Amounts receivable within one year | 40/41 | €65,758 | €144,763 | +€79,005 | +120.1% |
| Trade receivables | 40 | €60,641 | €69,426 | +€8,785 | +14.5% |
| Other amounts receivable | 41 | €5,117 | €75,337 | +€70,219 | +1372.2% |
| Cash at bank and in hand | 54/58 | €6,187 | €5,055 | -€1,132 | -18.3% |
| Deferred charges and accrued income | 490/1 | - | €2,491 | +€2,491 | |
| Total equity and liabilities | 10/49 | €115,650 | €198,032 | +€82,382 | +71.2% |
| Equity | 10/15 | -€126,242 | -€124,723 | +€1,519 | +1.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€151,242 | -€149,723 | +€1,519 | +1.0% |
| Amounts payable | 17/49 | €241,892 | €322,755 | +€80,863 | +33.4% |
| Amounts payable within one year | 42/48 | €241,892 | €322,755 | +€80,863 | +33.4% |
| Trade debts | 44 | €3,447 | €6,722 | +€3,275 | +95.0% |
| Suppliers | 440/4 | €3,447 | €6,722 | +€3,275 | +95.0% |
| Advances received on contracts in progress | 46 | - | €1,800 | +€1,800 | |
| Taxes, remuneration and social security | 45 | €5,854 | €9,425 | +€3,571 | +61.0% |
| Taxes | 450/3 | €5,854 | €9,425 | +€3,571 | +61.0% |
| Other amounts payable | 47/48 | €232,591 | €304,808 | +€72,217 | +31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,787 | €5,374 | +€1,587 | +41.9% |
| Other operating charges | 640/8 | €11,486 | €2,650 | -€8,836 | -76.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€39,908 | €9,146 | +€49,054 | |
| Operating profit (loss) | 9901 | -€55,181 | €1,122 | +€56,302 | |
| Financial income | 75/76B | €47 | €1,112 | +€1,065 | +2267.7% |
| Recurring financial income | 75 | €47 | €1,112 | +€1,065 | +2267.7% |
| Financial charges | 65/66B | €391 | €436 | +€46 | +11.7% |
| Recurring financial charges | 65 | €391 | €436 | +€46 | +11.7% |
| Profit (loss) for the period before taxes | 9903 | -€55,524 | €1,797 | +€57,322 | |
| Income taxes | 67/77 | €427 | €278 | -€149 | -34.9% |
| Profit (loss) for the period | 9904 | -€55,952 | €1,519 | +€57,471 | |
| Profit (loss) for the period to be appropriated | 9905 | -€55,952 | €1,519 | +€57,471 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.