A+ 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.
A+ PROJECTS
Largest movements
- Cash +€51,721
up €51,721 (+1035.0%), from €4,997 to €56,718
mainly Net result for the year (+€31,231) and Receivables within one year (+€14,355)
- Receivables within one year -€14,355
down €14,355 (-36.6%), from €39,260 to €24,905
of which Trade receivables: -€39,000
- Tangible fixed assets +€3,531
new in 2025: €3,531
- Deferred charges and accrued income +€1,345
new in 2025: €1,345
- Profit (loss) carried forward +€31,231
up €31,231 (+118.8%), from €26,294 to €57,526
- Trade debts +€14,245
up €14,245 (+11434.0%), from €125 to €14,369
- Other debts -€6,161
no longer reported in 2025 (was €6,161)
- Tax, wage and social debts +€2,926
up €2,926 (+43.8%), from €6,677 to €9,604
- Gross operating margin +€8,974
up €8,974 (+27.2%), from €32,985 to €41,958
- Taxes +€2,914
up €2,914 (+43.8%), from €6,647 to €9,561
- Other operating charges +€864
new in 2025: €864
- Depreciation +€844
new in 2025: €844
- Financial income +€665
new in 2025: €665
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 | €44,257 | €86,498 | +€42,241 | +95.4% |
| Fixed assets | 21/28 | - | €3,531 | +€3,531 | |
| Tangible fixed assets | 22/27 | - | €3,531 | +€3,531 | |
| Furniture and vehicles | 24 | - | €3,531 | +€3,531 | |
| Current assets | 29/58 | €44,257 | €82,967 | +€38,710 | +87.5% |
| Amounts receivable within one year | 40/41 | €39,260 | €24,905 | -€14,355 | -36.6% |
| Trade receivables | 40 | €39,000 | - | -€39,000 | |
| Other amounts receivable | 41 | €260 | €24,905 | +€24,645 | +9483.5% |
| Cash at bank and in hand | 54/58 | €4,997 | €56,718 | +€51,721 | +1035.0% |
| Deferred charges and accrued income | 490/1 | - | €1,345 | +€1,345 | |
| Total equity and liabilities | 10/49 | €44,257 | €86,498 | +€42,241 | +95.4% |
| Equity | 10/15 | €31,294 | €62,526 | +€31,231 | +99.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,294 | €57,526 | +€31,231 | +118.8% |
| Amounts payable | 17/49 | €12,963 | €23,973 | +€11,010 | +84.9% |
| Amounts payable within one year | 42/48 | €12,963 | €23,973 | +€11,010 | +84.9% |
| Trade debts | 44 | €125 | €14,369 | +€14,245 | +11434.0% |
| Suppliers | 440/4 | €125 | €14,369 | +€14,245 | +11434.0% |
| Taxes, remuneration and social security | 45 | €6,677 | €9,604 | +€2,926 | +43.8% |
| Taxes | 450/3 | €6,677 | €9,604 | +€2,926 | +43.8% |
| Other amounts payable | 47/48 | €6,161 | - | -€6,161 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €844 | +€844 | |
| Other operating charges | 640/8 | - | €864 | +€864 | |
| Gross operating margin | 9900 | €32,985 | €41,958 | +€8,974 | +27.2% |
| Operating profit (loss) | 9901 | €32,985 | €40,250 | +€7,265 | +22.0% |
| Financial income | 75/76B | - | €665 | +€665 | |
| Recurring financial income | 75 | - | €665 | +€665 | |
| Financial charges | 65/66B | €43 | €122 | +€79 | +183.8% |
| Recurring financial charges | 65 | €43 | €122 | +€79 | +183.8% |
| Profit (loss) for the period before taxes | 9903 | €32,942 | €40,793 | +€7,851 | +23.8% |
| Income taxes | 67/77 | €6,647 | €9,561 | +€2,914 | +43.8% |
| Profit (loss) for the period | 9904 | €26,294 | €31,231 | +€4,937 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,294 | €31,231 | +€4,937 | +18.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.