AS 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.
AS PROJECTS
Largest movements
- Tangible fixed assets -€14,415
down €14,415 (-22.3%), from €64,742 to €50,327
of which Furniture and vehicles: -€15,730
- Receivables after one year -€8,325
no longer reported in 2025 (was €8,325)
- Receivables within one year +€6,043
up €6,043 (+31.7%), from €19,086 to €25,129
of which Trade receivables: +€5,471
- Cash -€3,817
down €3,817 (-39.1%), from €9,759 to €5,942
mainly Debts after one year (-€12,982) and Net result for the year (-€12,583)
- Debts after one year -€12,982
down €12,982 (-32.1%), from €40,450 to €27,468
- Reserves -€12,583
down €12,583 (-32.3%), from €39,000 to €26,417
- Other debts +€5,047
up €5,047 (+62083.4%), from €8 to €5,056
- Trade debts +€1,208
up €1,208 (+44.1%), from €2,740 to €3,948
- Tax, wage and social debts -€1,167
down €1,167 (-80.8%), from €1,444 to €277
- Gross operating margin -€16,888
down €16,888 (-67.6%), from €24,987 to €8,100
- Financial income +€810
up €810 (+135.0%), from €600 to €1,410
- Financial charges -€356
down €356 (-14.2%), from €2,509 to €2,153
- Other operating charges -€316
down €316 (-14.9%), from €2,124 to €1,808
- Taxes -€280
down €280 (-21.6%), from €1,293 to €1,013
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 | €104,776 | €84,806 | -€19,970 | -19.1% |
| Fixed assets | 21/28 | €64,742 | €50,327 | -€14,415 | -22.3% |
| Tangible fixed assets | 22/27 | €64,742 | €50,327 | -€14,415 | -22.3% |
| Plant, machinery and equipment | 23 | €61 | €1,376 | +€1,315 | +2170.6% |
| Furniture and vehicles | 24 | €64,681 | €48,951 | -€15,730 | -24.3% |
| Current assets | 29/58 | €40,034 | €34,479 | -€5,555 | -13.9% |
| Amounts receivable after more than one year | 29 | €8,325 | - | -€8,325 | |
| Other amounts receivable | 291 | €8,325 | - | -€8,325 | |
| Amounts receivable within one year | 40/41 | €19,086 | €25,129 | +€6,043 | +31.7% |
| Trade receivables | 40 | €18,913 | €24,384 | +€5,471 | +28.9% |
| Other amounts receivable | 41 | €173 | €745 | +€572 | +330.2% |
| Cash at bank and in hand | 54/58 | €9,759 | €5,942 | -€3,817 | -39.1% |
| Deferred charges and accrued income | 490/1 | €2,864 | €3,407 | +€543 | +19.0% |
| Total equity and liabilities | 10/49 | €104,776 | €84,806 | -€19,970 | -19.1% |
| Equity | 10/15 | €47,629 | €35,046 | -€12,583 | -26.4% |
| Contributions | 10/11 | €5,500 | €5,500 | = | 0.0% |
| Reserves | 13 | €39,000 | €26,417 | -€12,583 | -32.3% |
| Distributable reserves | 133 | €39,000 | €26,417 | -€12,583 | -32.3% |
| Profit (loss) carried forward | 14 | €3,129 | €3,129 | = | 0.0% |
| Amounts payable | 17/49 | €57,147 | €49,760 | -€7,387 | -12.9% |
| Amounts payable after more than one year | 17 | €40,450 | €27,468 | -€12,982 | -32.1% |
| Financial debts | 170/4 | €40,450 | €27,468 | -€12,982 | -32.1% |
| Amounts payable within one year | 42/48 | €16,697 | €22,116 | +€5,419 | +32.5% |
| Current portion of amounts payable after more than one year | 42 | €12,505 | €12,836 | +€331 | +2.6% |
| Trade debts | 44 | €2,740 | €3,948 | +€1,208 | +44.1% |
| Suppliers | 440/4 | €2,740 | €3,948 | +€1,208 | +44.1% |
| Taxes, remuneration and social security | 45 | €1,444 | €277 | -€1,167 | -80.8% |
| Taxes | 450/3 | €1,444 | €277 | -€1,167 | -80.8% |
| Other amounts payable | 47/48 | €8 | €5,056 | +€5,047 | +62083.4% |
| Accrued charges and deferred income | 492/3 | - | €176 | +€176 | |
| Non-recurring operating income | 76A | €13,223 | - | -€13,223 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,036 | €17,119 | +€83 | +0.5% |
| Other operating charges | 640/8 | €2,124 | €1,808 | -€316 | -14.9% |
| Gross operating margin | 9900 | €24,987 | €8,100 | -€16,888 | -67.6% |
| Operating profit (loss) | 9901 | €5,827 | -€10,827 | -€16,655 | |
| Financial income | 75/76B | €600 | €1,410 | +€810 | +135.0% |
| Recurring financial income | 75 | €600 | €1,410 | +€810 | +135.0% |
| Financial charges | 65/66B | €2,509 | €2,153 | -€356 | -14.2% |
| Recurring financial charges | 65 | €2,509 | €2,153 | -€356 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €3,919 | -€11,570 | -€15,489 | |
| Income taxes | 67/77 | €1,293 | €1,013 | -€280 | -21.6% |
| Profit (loss) for the period | 9904 | €2,626 | -€12,583 | -€15,209 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,626 | -€12,583 | -€15,209 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.