B-PROJECT: 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.
B-PROJECT
Largest movements
- Receivables within one year -€36,240
down €36,240 (-99.1%), from €36,576 to €337
of which Other amounts receivable: -€36,461
- Cash +€33,877
up €33,877 (+208.2%), from €16,275 to €50,153
mainly Receivables within one year (+€36,240) and Depreciation (+€13,498)
- Tangible fixed assets -€12,516
down €12,516 (-15.9%), from €78,808 to €66,292
of which Land and buildings: -€13,127
- Other debts -€17,937
down €17,937 (-27.1%), from €66,155 to €48,218
- Trade debts +€4,307
up €4,307 (+164.8%), from €2,613 to €6,920
- Tax, wage and social debts -€2,148
down €2,148 (-61.3%), from €3,504 to €1,356
- Gross operating margin -€11,310
down €11,310 (-40.2%), from €28,143 to €16,833
- Financial charges -€5,373
down €5,373 (-97.7%), from €5,498 to €125
- Depreciation -€3,490
down €3,490 (-20.5%), from €16,988 to €13,498
- Taxes -€542
down €542 (-47.0%), from €1,153 to €611
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 | €131,749 | €116,781 | -€14,969 | -11.4% |
| Fixed assets | 21/28 | €78,808 | €66,292 | -€12,516 | -15.9% |
| Tangible fixed assets | 22/27 | €78,808 | €66,292 | -€12,516 | -15.9% |
| Land and buildings | 22 | €78,764 | €65,637 | -€13,127 | -16.7% |
| Furniture and vehicles | 24 | €43 | €655 | +€611 | +1406.5% |
| Current assets | 29/58 | €52,941 | €50,489 | -€2,452 | -4.6% |
| Amounts receivable within one year | 40/41 | €36,576 | €337 | -€36,240 | -99.1% |
| Trade receivables | 40 | - | €222 | +€222 | |
| Other amounts receivable | 41 | €36,576 | €115 | -€36,461 | -99.7% |
| Cash at bank and in hand | 54/58 | €16,275 | €50,153 | +€33,877 | +208.2% |
| Deferred charges and accrued income | 490/1 | €90 | - | -€90 | |
| Total equity and liabilities | 10/49 | €131,749 | €116,781 | -€14,969 | -11.4% |
| Equity | 10/15 | €59,263 | €60,286 | +€1,023 | +1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €40,663 | €41,686 | +€1,023 | +2.5% |
| Distributable reserves | 133 | €40,663 | €41,686 | +€1,023 | +2.5% |
| Amounts payable | 17/49 | €72,486 | €56,495 | -€15,991 | -22.1% |
| Amounts payable within one year | 42/48 | €72,272 | €56,495 | -€15,777 | -21.8% |
| Trade debts | 44 | €2,613 | €6,920 | +€4,307 | +164.8% |
| Suppliers | 440/4 | €2,613 | €6,920 | +€4,307 | +164.8% |
| Taxes, remuneration and social security | 45 | €3,504 | €1,356 | -€2,148 | -61.3% |
| Taxes | 450/3 | €3,504 | €1,356 | -€2,148 | -61.3% |
| Other amounts payable | 47/48 | €66,155 | €48,218 | -€17,937 | -27.1% |
| Accrued charges and deferred income | 492/3 | €214 | - | -€214 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,988 | €13,498 | -€3,490 | -20.5% |
| Other operating charges | 640/8 | €1,721 | €1,576 | -€145 | -8.4% |
| Gross operating margin | 9900 | €28,143 | €16,833 | -€11,310 | -40.2% |
| Operating profit (loss) | 9901 | €9,434 | €1,759 | -€7,675 | -81.4% |
| Financial income | 75/76B | €90 | - | -€90 | |
| Recurring financial income | 75 | €90 | - | -€90 | |
| Financial charges | 65/66B | €5,498 | €125 | -€5,373 | -97.7% |
| Recurring financial charges | 65 | €5,498 | €125 | -€5,373 | -97.7% |
| Profit (loss) for the period before taxes | 9903 | €4,026 | €1,634 | -€2,393 | -59.4% |
| Income taxes | 67/77 | €1,153 | €611 | -€542 | -47.0% |
| Profit (loss) for the period | 9904 | €2,873 | €1,023 | -€1,850 | -64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,873 | €1,023 | -€1,850 | -64.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.