B-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.
B-Projects
Largest movements
- Cash -€35,151
down €35,151 (-10.3%), from €340,553 to €305,402
mainly Tax, wage and social debts (-€32,759) and Net result for the year (-€21,964)
- Tangible fixed assets -€23,962
down €23,962 (-29.4%), from €81,531 to €57,569
of which Furniture and vehicles: -€13,936
- Receivables within one year +€14,250
up €14,250 (+5.1%), from €279,236 to €293,486
of which Trade receivables: +€31,050
- Tax, wage and social debts -€32,759
no longer reported in 2025 (was €32,759)
- Profit (loss) carried forward -€21,964
down €21,964, from €19,668 to -€2,296
- Trade debts +€16,970
up €16,970 (+3.7%), from €455,046 to €472,016
- Gross operating margin -€16,633
down €16,633 (-76.3%), from €21,811 to €5,178
- Depreciation +€7,188
up €7,188 (+42.9%), from €16,774 to €23,962
- Financial income -€6,221
down €6,221 (-83.0%), from €7,495 to €1,274
- Taxes -€2,250
no longer reported in 2025 (was €2,250)
- Financial charges -€736
down €736 (-19.6%), from €3,757 to €3,021
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 | €701,320 | €660,754 | -€40,566 | -5.8% |
| Fixed assets | 21/28 | €81,531 | €57,569 | -€23,962 | -29.4% |
| Tangible fixed assets | 22/27 | €81,531 | €57,569 | -€23,962 | -29.4% |
| Plant, machinery and equipment | 23 | €41,289 | €32,703 | -€8,586 | -20.8% |
| Furniture and vehicles | 24 | €35,536 | €21,600 | -€13,936 | -39.2% |
| Other tangible fixed assets | 26 | €4,706 | €3,266 | -€1,440 | -30.6% |
| Current assets | 29/58 | €619,789 | €603,185 | -€16,604 | -2.7% |
| Amounts receivable after more than one year | 29 | - | €4,297 | +€4,297 | |
| Other amounts receivable | 291 | - | €4,297 | +€4,297 | |
| Amounts receivable within one year | 40/41 | €279,236 | €293,486 | +€14,250 | +5.1% |
| Trade receivables | 40 | €253,538 | €284,588 | +€31,050 | +12.2% |
| Other amounts receivable | 41 | €25,698 | €8,898 | -€16,800 | -65.4% |
| Cash at bank and in hand | 54/58 | €340,553 | €305,402 | -€35,151 | -10.3% |
| Total equity and liabilities | 10/49 | €701,320 | €660,754 | -€40,566 | -5.8% |
| Equity | 10/15 | €51,428 | €29,464 | -€21,964 | -42.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €19,360 | €19,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €17,500 | €17,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,668 | -€2,296 | -€21,964 | |
| Amounts payable | 17/49 | €649,892 | €631,290 | -€18,602 | -2.9% |
| Amounts payable after more than one year | 17 | €41,000 | €41,000 | = | 0.0% |
| Financial debts | 170/4 | €41,000 | €41,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €595,104 | €578,637 | -€16,467 | -2.8% |
| Trade debts | 44 | €455,046 | €472,016 | +€16,970 | +3.7% |
| Suppliers | 440/4 | €455,046 | €472,016 | +€16,970 | +3.7% |
| Taxes, remuneration and social security | 45 | €32,759 | - | -€32,759 | |
| Taxes | 450/3 | €32,759 | - | -€32,759 | |
| Other amounts payable | 47/48 | €107,299 | €106,621 | -€678 | -0.6% |
| Accrued charges and deferred income | 492/3 | €13,788 | €11,653 | -€2,135 | -15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,774 | €23,962 | +€7,188 | +42.9% |
| Other operating charges | 640/8 | €1,660 | €1,433 | -€227 | -13.7% |
| Gross operating margin | 9900 | €21,811 | €5,178 | -€16,633 | -76.3% |
| Operating profit (loss) | 9901 | €3,377 | -€20,217 | -€23,594 | |
| Financial income | 75/76B | €7,495 | €1,274 | -€6,221 | -83.0% |
| Recurring financial income | 75 | €7,495 | €1,274 | -€6,221 | -83.0% |
| Financial charges | 65/66B | €3,757 | €3,021 | -€736 | -19.6% |
| Recurring financial charges | 65 | €3,757 | €3,021 | -€736 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €7,115 | -€21,964 | -€29,079 | |
| Income taxes | 67/77 | €2,250 | - | -€2,250 | |
| Profit (loss) for the period | 9904 | €4,865 | -€21,964 | -€26,829 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,865 | -€21,964 | -€26,829 |
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 5 October 2026 via checked.be.