AT PROJECTS: what changed
AT PROJECTS
Largest movements
- Current investments -€30,000
no longer reported in 2025 (was €30,000)
- Cash +€20,048
up €20,048 (+40.4%), from €49,650 to €69,698
mainly Other debts (+€49,999) and Current investments (+€30,000)
- Receivables within one year +€5,506
up €5,506 (+607%), from €907 to €6,412
of which Other amounts receivable: +€5,899
- Tangible fixed assets -€2,081
down €2,081 (-12.6%), from €16,529 to €14,448
of which Furniture and vehicles: -€3,441
- Reserves -€61,279
down €61,279 (-80.2%), from €76,439 to €15,160
- Other debts +€49,999
up €49,999 (+354%), from €14,129 to €64,128
- Profit (loss) carried forward +€3,787
no longer reported in 2025 (was -€3,787)
- Gross operating margin +€13,455
up €13,455 (+145%), from €9,267 to €22,721
- Taxes +€2,824
up €2,824 (+58.7%), from €4,811 to €7,635
- Depreciation +€353
up €353 (+4.8%), from €7,346 to €7,699
- Other operating charges -€317
down €317 (-44.2%), from €717 to €400
- Financial income -€236
down €236 (-21.6%), from €1,090 to €854
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €98,623 | €91,851 | -€6,771 | -6.9% |
| Fixed assets | 21/28 | €16,529 | €14,448 | -€2,081 | -12.6% |
| Tangible fixed assets | 22/27 | €16,529 | €14,448 | -€2,081 | -12.6% |
| Plant, machinery and equipment | 23 | €180 | €517 | +€338 | +188% |
| Furniture and vehicles | 24 | €15,042 | €11,601 | -€3,441 | -22.9% |
| Other tangible fixed assets | 26 | €1,307 | €2,329 | +€1,022 | +78.2% |
| Current assets | 29/58 | €82,094 | €77,404 | -€4,690 | -5.7% |
| Amounts receivable within one year | 40/41 | €907 | €6,412 | +€5,506 | +607% |
| Trade receivables | 40 | €393 | - | -€393 | |
| Other amounts receivable | 41 | €514 | €6,412 | +€5,899 | +1,149% |
| Current investments | 50/53 | €30,000 | - | -€30,000 | |
| Cash at bank and in hand | 54/58 | €49,650 | €69,698 | +€20,048 | +40.4% |
| Deferred charges and accrued income | 490/1 | €1,537 | €1,293 | -€244 | -15.9% |
| Total equity and liabilities | 10/49 | €98,623 | €91,851 | -€6,771 | -6.9% |
| Equity | 10/15 | €80,712 | €23,220 | -€57,492 | -71.2% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €76,439 | €15,160 | -€61,279 | -80.2% |
| Distributable reserves | 133 | €76,439 | €15,160 | -€61,279 | -80.2% |
| Profit (loss) carried forward | 14 | -€3,787 | - | +€3,787 | |
| Amounts payable | 17/49 | €17,911 | €68,632 | +€50,721 | +283% |
| Amounts payable within one year | 42/48 | €17,911 | €68,414 | +€50,504 | +282% |
| Financial debts | 43 | €136 | - | -€136 | |
| Credit institutions | 430/8 | €136 | - | -€136 | |
| Trade debts | 44 | €1,002 | €1,486 | +€484 | +48.4% |
| Suppliers | 440/4 | €1,002 | €1,486 | +€484 | +48.4% |
| Taxes, remuneration and social security | 45 | €2,644 | €2,800 | +€156 | +5.9% |
| Taxes | 450/3 | €2,644 | €2,800 | +€156 | +5.9% |
| Other amounts payable | 47/48 | €14,129 | €64,128 | +€49,999 | +354% |
| Accrued charges and deferred income | 492/3 | - | €217 | +€217 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,346 | €7,699 | +€353 | +4.8% |
| Other operating charges | 640/8 | €717 | €400 | -€317 | -44.2% |
| Gross operating margin | 9900 | €9,267 | €22,721 | +€13,455 | +145% |
| Operating profit (loss) | 9901 | €1,204 | €14,623 | +€13,419 | +1,114% |
| Financial income | 75/76B | €1,090 | €854 | -€236 | -21.6% |
| Recurring financial income | 75 | €1,090 | €854 | -€236 | -21.6% |
| Financial charges | 65/66B | €1,305 | €1,206 | -€99 | -7.6% |
| Recurring financial charges | 65 | €1,305 | €1,206 | -€99 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €989 | €14,271 | +€13,282 | +1,343% |
| Income taxes | 67/77 | €4,811 | €7,635 | +€2,824 | +58.7% |
| Profit (loss) for the period | 9904 | -€3,822 | €6,636 | +€10,457 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,822 | €6,636 | +€10,457 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.