A1-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.
A1-PROJECTS
Largest movements
- Deferred charges and accrued income +€13,529
up €13,529 (+821%), from €1,648 to €15,177
- Receivables within one year -€11,022
down €11,022 (-29.1%), from €37,814 to €26,792
of which Trade receivables: -€18,086
- Cash +€7,846
up €7,846 (+490%), from €1,600 to €9,446
mainly Other debts (+€14,087) and Receivables within one year (+€11,022)
- Tangible fixed assets -€2,174
down €2,174 (-19.3%), from €11,285 to €9,111
of which Furniture and vehicles: -€1,138
- Other debts +€14,087
up €14,087 (+672%), from €2,097 to €16,184
- Reserves -€5,526
down €5,526 (-14.0%), from €39,500 to €33,974
of which Distributable reserves: -€5,526
- Tax, wage and social debts -€1,528
down €1,528 (-47.0%), from €3,253 to €1,725
- Trade debts +€1,147
up €1,147 (+88.5%), from €1,296 to €2,444
- Gross operating margin +€10,552
up €10,552 (+102%), from €10,390 to €20,942
- Taxes +€2,532
up €2,532 (+146%), from €1,728 to €4,260
- Depreciation +€1,040
up €1,040 (+30.7%), from €3,390 to €4,430
- Financial charges +€459
up €459 (+84.8%), from €542 to €1,001
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 | €52,346 | €60,526 | +€8,180 | +15.6% |
| Fixed assets | 21/28 | €11,285 | €9,111 | -€2,174 | -19.3% |
| Tangible fixed assets | 22/27 | €11,285 | €9,111 | -€2,174 | -19.3% |
| Furniture and vehicles | 24 | €6,547 | €5,409 | -€1,138 | -17.4% |
| Other tangible fixed assets | 26 | €4,737 | €3,702 | -€1,035 | -21.9% |
| Current assets | 29/58 | €41,062 | €51,415 | +€10,353 | +25.2% |
| Amounts receivable within one year | 40/41 | €37,814 | €26,792 | -€11,022 | -29.1% |
| Trade receivables | 40 | €34,542 | €16,456 | -€18,086 | -52.4% |
| Other amounts receivable | 41 | €3,272 | €10,336 | +€7,064 | +216% |
| Cash at bank and in hand | 54/58 | €1,600 | €9,446 | +€7,846 | +490% |
| Deferred charges and accrued income | 490/1 | €1,648 | €15,177 | +€13,529 | +821% |
| Total equity and liabilities | 10/49 | €52,346 | €60,526 | +€8,180 | +15.6% |
| Equity | 10/15 | €45,700 | €40,174 | -€5,526 | -12.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €39,500 | €33,974 | -€5,526 | -14.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €37,640 | €32,114 | -€5,526 | -14.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €6,646 | €20,352 | +€13,706 | +206% |
| Amounts payable within one year | 42/48 | €6,646 | €20,352 | +€13,706 | +206% |
| Trade debts | 44 | €1,296 | €2,444 | +€1,147 | +88.5% |
| Suppliers | 440/4 | €1,296 | €2,444 | +€1,147 | +88.5% |
| Taxes, remuneration and social security | 45 | €3,253 | €1,725 | -€1,528 | -47.0% |
| Taxes | 450/3 | €3,253 | €1,725 | -€1,528 | -47.0% |
| Other amounts payable | 47/48 | €2,097 | €16,184 | +€14,087 | +672% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €901 | €0 | -€901 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,390 | €4,430 | +€1,040 | +30.7% |
| Other operating charges | 640/8 | €505 | €654 | +€149 | +29.5% |
| Non-recurring operating charges | 66A | €83 | €0 | -€83 | -100% |
| Gross operating margin | 9900 | €10,390 | €20,942 | +€10,552 | +102% |
| Operating profit (loss) | 9901 | €6,412 | €15,858 | +€9,446 | +147% |
| Financial income | 75/76B | €0 | €61 | +€61 | |
| Recurring financial income | 75 | €0 | €61 | +€61 | |
| Financial charges | 65/66B | €542 | €1,001 | +€459 | +84.8% |
| Recurring financial charges | 65 | €542 | €1,001 | +€459 | +84.8% |
| Profit (loss) for the period before taxes | 9903 | €5,870 | €14,918 | +€9,047 | +154% |
| Income taxes | 67/77 | €1,728 | €4,260 | +€2,532 | +146% |
| Profit (loss) for the period | 9904 | €4,142 | €10,657 | +€6,515 | +157% |
| Profit (loss) for the period to be appropriated | 9905 | €4,142 | €10,657 | +€6,515 | +157% |
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 15 October 2026 via checked.be.