B-PROJECT ETS: what changed
B-PROJECT ETS
Largest movements
- Cash +€72,552
up €72,552 (+687%), from €10,556 to €83,107
mainly Net result for the year (+€40,552) and Tax, wage and social debts (+€17,818)
- Tangible fixed assets -€1,697
down €1,697 (-35.8%), from €4,736 to €3,039
of which Furniture and vehicles: -€1,439
- Profit (loss) carried forward +€39,719
up €39,719 (+121%), from €32,800 to €72,519
- Tax, wage and social debts +€17,818
up €17,818 (+127%), from €13,991 to €31,809
- Accrued charges and deferred income +€13,354
up €13,354 (+2,008%), from €665 to €14,020
- Gross operating margin +€13,263
up €13,263 (+24.7%), from €53,630 to €66,893
- Other operating charges +€7,084
up €7,084 (+719%), from €985 to €8,069
- Taxes +€4,014
up €4,014 (+39.6%), from €10,148 to €14,162
- Financial income +€1,769
up €1,769 (+5,771%), from €31 to €1,799
- Financial charges -€1,648
down €1,648 (-28.1%), from €5,861 to €4,213
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 | €86,482 | €156,314 | +€69,833 | +80.7% |
| Fixed assets | 21/28 | €4,736 | €3,039 | -€1,697 | -35.8% |
| Tangible fixed assets | 22/27 | €4,736 | €3,039 | -€1,697 | -35.8% |
| Furniture and vehicles | 24 | €2,676 | €1,237 | -€1,439 | -53.8% |
| Other tangible fixed assets | 26 | €2,060 | €1,802 | -€257 | -12.5% |
| Current assets | 29/58 | €81,746 | €153,275 | +€71,530 | +87.5% |
| Amounts receivable within one year | 40/41 | €67,011 | €65,586 | -€1,425 | -2.1% |
| Trade receivables | 40 | €51,670 | €39,006 | -€12,664 | -24.5% |
| Other amounts receivable | 41 | €15,341 | €26,580 | +€11,239 | +73.3% |
| Cash at bank and in hand | 54/58 | €10,556 | €83,107 | +€72,552 | +687% |
| Deferred charges and accrued income | 490/1 | €4,179 | €4,582 | +€403 | +9.6% |
| Total equity and liabilities | 10/49 | €86,482 | €156,314 | +€69,833 | +80.7% |
| Equity | 10/15 | €34,800 | €74,519 | +€39,719 | +114% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Contributions outside capital | 11 | €2,000 | €2,000 | = | 0.0% |
| Other | 1109/19 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,800 | €72,519 | +€39,719 | +121% |
| Amounts payable | 17/49 | €51,682 | €81,795 | +€30,113 | +58.3% |
| Amounts payable within one year | 42/48 | €51,016 | €67,775 | +€16,759 | +32.9% |
| Financial debts | 43 | €663 | €619 | -€43 | -6.6% |
| Credit institutions | 430/8 | €663 | €619 | -€43 | -6.6% |
| Trade debts | 44 | €35,504 | €34,514 | -€990 | -2.8% |
| Suppliers | 440/4 | €35,504 | €34,514 | -€990 | -2.8% |
| Taxes, remuneration and social security | 45 | €13,991 | €31,809 | +€17,818 | +127% |
| Taxes | 450/3 | €13,991 | €31,809 | +€17,818 | +127% |
| Other amounts payable | 47/48 | €859 | €833 | -€26 | -3.0% |
| Accrued charges and deferred income | 492/3 | €665 | €14,020 | +€13,354 | +2,008% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,131 | €1,697 | -€434 | -20.4% |
| Other operating charges | 640/8 | €985 | €8,069 | +€7,084 | +719% |
| Gross operating margin | 9900 | €53,630 | €66,893 | +€13,263 | +24.7% |
| Operating profit (loss) | 9901 | €50,514 | €57,128 | +€6,614 | +13.1% |
| Financial income | 75/76B | €31 | €1,799 | +€1,769 | +5,771% |
| Recurring financial income | 75 | €31 | €1,799 | +€1,769 | +5,771% |
| Financial charges | 65/66B | €5,861 | €4,213 | -€1,648 | -28.1% |
| Recurring financial charges | 65 | €5,861 | €4,213 | -€1,648 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €44,684 | €54,714 | +€10,031 | +22.4% |
| Income taxes | 67/77 | €10,148 | €14,162 | +€4,014 | +39.6% |
| Profit (loss) for the period | 9904 | €34,536 | €40,552 | +€6,017 | +17.4% |
| Profit (loss) for the period to be appropriated | 9905 | €34,536 | €40,552 | +€6,017 | +17.4% |
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 5 November 2026 via checked.be.