AN 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.
AN PROJECTS
Largest movements
- Tangible fixed assets -€27,289
down €27,289 (-24.1%), from €113,416 to €86,127
- Cash +€3,431
up €3,431 (+30.2%), from €11,358 to €14,789
mainly Depreciation (+€27,289) and Net result for the year (+€8,182)
- Receivables within one year +€2,913
up €2,913 (+60.2%), from €4,836 to €7,750
of which Other amounts receivable: +€3,462
- Debts after one year -€14,082
down €14,082 (-18.2%), from €77,388 to €63,306
- Reserves +€8,182
up €8,182 (+68.4%), from €11,970 to €20,152
- Other debts -€7,411
down €7,411 (-100.0%), from €7,411 to €0
- Trade debts -€5,204
down €5,204 (-63.3%), from €8,225 to €3,021
- Current portion of long-term debt -€3,201
down €3,201 (-18.5%), from €17,283 to €14,082
- Gross operating margin -€6,444
down €6,444 (-11.4%), from €56,602 to €50,159
- Provisions -€3,651
down €3,651 (-100.0%), from €3,651 to €0
- Taxes +€2,023
up €2,023 (+66.5%), from €3,045 to €5,068
- Depreciation +€750
up €750 (+2.8%), from €26,539 to €27,289
- Financial charges -€608
down €608 (-12.5%), from €4,880 to €4,272
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 | €129,610 | €109,270 | -€20,341 | -15.7% |
| Fixed assets | 21/28 | €113,416 | €86,127 | -€27,289 | -24.1% |
| Tangible fixed assets | 22/27 | €113,416 | €86,127 | -€27,289 | -24.1% |
| Land and buildings | 22 | €88,081 | €75,352 | -€12,729 | -14.5% |
| Plant, machinery and equipment | 23 | €427 | €43 | -€384 | -89.9% |
| Furniture and vehicles | 24 | €5,171 | €0 | -€5,171 | -100.0% |
| Leasing and similar rights | 25 | €19,737 | €10,732 | -€9,005 | -45.6% |
| Current assets | 29/58 | €16,194 | €23,143 | +€6,948 | +42.9% |
| Amounts receivable within one year | 40/41 | €4,836 | €7,750 | +€2,913 | +60.2% |
| Trade receivables | 40 | €661 | €112 | -€549 | -83.0% |
| Other amounts receivable | 41 | €4,175 | €7,637 | +€3,462 | +82.9% |
| Cash at bank and in hand | 54/58 | €11,358 | €14,789 | +€3,431 | +30.2% |
| Deferred charges and accrued income | 490/1 | - | €604 | +€604 | |
| Total equity and liabilities | 10/49 | €129,610 | €109,270 | -€20,341 | -15.7% |
| Equity | 10/15 | €12,570 | €20,752 | +€8,182 | +65.1% |
| Contributions | 10/11 | €600 | €600 | = | 0.0% |
| Reserves | 13 | €11,970 | €20,152 | +€8,182 | +68.4% |
| Distributable reserves | 133 | €11,970 | €20,152 | +€8,182 | +68.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €3,651 | €3,651 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €3,651 | €3,651 | = | 0.0% |
| Major repairs and maintenance | 162 | €3,651 | €3,651 | = | 0.0% |
| Amounts payable | 17/49 | €113,390 | €84,867 | -€28,523 | -25.2% |
| Amounts payable after more than one year | 17 | €77,388 | €63,306 | -€14,082 | -18.2% |
| Financial debts | 170/4 | €77,388 | €63,306 | -€14,082 | -18.2% |
| Amounts payable within one year | 42/48 | €36,002 | €21,561 | -€14,441 | -40.1% |
| Current portion of amounts payable after more than one year | 42 | €17,283 | €14,082 | -€3,201 | -18.5% |
| Trade debts | 44 | €8,225 | €3,021 | -€5,204 | -63.3% |
| Suppliers | 440/4 | €8,225 | €3,021 | -€5,204 | -63.3% |
| Taxes, remuneration and social security | 45 | €3,083 | €4,458 | +€1,375 | +44.6% |
| Taxes | 450/3 | €1,883 | €4,458 | +€2,575 | +136.7% |
| Remuneration and social security | 454/9 | €1,200 | €0 | -€1,200 | -100.0% |
| Other amounts payable | 47/48 | €7,411 | €0 | -€7,411 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,539 | €27,289 | +€750 | +2.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €3,651 | €0 | -€3,651 | -100.0% |
| Other operating charges | 640/8 | €5,129 | €5,393 | +€264 | +5.2% |
| Non-recurring operating charges | 66A | €11,952 | €0 | -€11,952 | -100.0% |
| Gross operating margin | 9900 | €56,602 | €50,159 | -€6,444 | -11.4% |
| Operating profit (loss) | 9901 | €9,331 | €17,476 | +€8,145 | +87.3% |
| Financial income | 75/76B | €78 | €46 | -€32 | -41.0% |
| Recurring financial income | 75 | €78 | €46 | -€32 | -41.0% |
| Financial charges | 65/66B | €4,880 | €4,272 | -€608 | -12.5% |
| Recurring financial charges | 65 | €4,880 | €4,272 | -€608 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €4,530 | €13,251 | +€8,721 | +192.5% |
| Income taxes | 67/77 | €3,045 | €5,068 | +€2,023 | +66.5% |
| Profit (loss) for the period | 9904 | €1,485 | €8,182 | +€6,697 | +451.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,485 | €8,182 | +€6,697 | +451.1% |
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 12 October 2026 via checked.be.