B-PROJECTS: what changed
Two financial 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
- Receivables within one year +€32,436
up €32,436 (+18.3%), from €177,328 to €209,764
- Tangible fixed assets -€10,752
down €10,752 (-29.8%), from €36,056 to €25,303
of which Furniture and vehicles: -€8,864
- Cash +€8,845
new in 2025: €8,845
mainly Net result for the year (+€52,575) and Other debts (+€13,237)
- Profit (loss) carried forward +€52,575
up €52,575 (+17.0%), from -€309,319 to -€256,744
- Trade debts -€17,745
down €17,745 (-19.7%), from €89,871 to €72,126
- Tax, wage and social debts -€14,472
down €14,472 (-32.6%), from €44,362 to €29,889
of which Taxes: -€8,757
- Other debts +€13,237
up €13,237 (+10.9%), from €121,391 to €134,628
- Short-term financial debts -€2,778
no longer reported in 2025 (was €2,778)
- Staff costs -€28,504
down €28,504 (-5.8%), from €489,756 to €461,251
- Gross operating margin +€13,945
up €13,945 (+2.7%), from €514,987 to €528,932
- Depreciation -€5,831
down €5,831 (-35.2%), from €16,583 to €10,752
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 | €219,542 | €250,360 | +€30,818 | +14.0% |
| Fixed assets | 21/28 | €36,056 | €25,303 | -€10,752 | -29.8% |
| Tangible fixed assets | 22/27 | €36,056 | €25,303 | -€10,752 | -29.8% |
| Plant, machinery and equipment | 23 | €4,275 | €2,386 | -€1,888 | -44.2% |
| Furniture and vehicles | 24 | €31,781 | €22,917 | -€8,864 | -27.9% |
| Current assets | 29/58 | €183,486 | €225,056 | +€41,570 | +22.7% |
| Amounts receivable within one year | 40/41 | €177,328 | €209,764 | +€32,436 | +18.3% |
| Trade receivables | 40 | €177,328 | €209,764 | +€32,436 | +18.3% |
| Cash at bank and in hand | 54/58 | - | €8,845 | +€8,845 | |
| Deferred charges and accrued income | 490/1 | €6,159 | €6,447 | +€289 | +4.7% |
| Total equity and liabilities | 10/49 | €219,542 | €250,360 | +€30,818 | +14.0% |
| Equity | 10/15 | -€288,859 | -€236,284 | +€52,575 | +18.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | -€309,319 | -€256,744 | +€52,575 | +17.0% |
| Amounts payable | 17/49 | €508,401 | €486,644 | -€21,758 | -4.3% |
| Amounts payable after more than one year | 17 | €250,000 | €250,000 | = | 0.0% |
| Financial debts | 170/4 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €258,401 | €236,644 | -€21,758 | -8.4% |
| Financial debts | 43 | €2,778 | - | -€2,778 | |
| Credit institutions | 430/8 | €2,778 | - | -€2,778 | |
| Trade debts | 44 | €89,871 | €72,126 | -€17,745 | -19.7% |
| Suppliers | 440/4 | €89,871 | €72,126 | -€17,745 | -19.7% |
| Taxes, remuneration and social security | 45 | €44,362 | €29,889 | -€14,472 | -32.6% |
| Taxes | 450/3 | €23,431 | €14,673 | -€8,757 | -37.4% |
| Remuneration and social security | 454/9 | €20,931 | €15,216 | -€5,715 | -27.3% |
| Other amounts payable | 47/48 | €121,391 | €134,628 | +€13,237 | +10.9% |
| Remuneration, social security and pensions | 62 | €489,756 | €461,251 | -€28,504 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,583 | €10,752 | -€5,831 | -35.2% |
| Other operating charges | 640/8 | €4,072 | €6,676 | +€2,604 | +64.0% |
| Gross operating margin | 9900 | €514,987 | €528,932 | +€13,945 | +2.7% |
| Operating profit (loss) | 9901 | €4,577 | €50,253 | +€45,676 | +998.0% |
| Financial income | 75/76B | €105 | €3,620 | +€3,516 | +3361.4% |
| Recurring financial income | 75 | €105 | €3,620 | +€3,516 | +3361.4% |
| Financial charges | 65/66B | €721 | €1,123 | +€402 | +55.7% |
| Recurring financial charges | 65 | €721 | €1,123 | +€402 | +55.7% |
| Profit (loss) for the period before taxes | 9903 | €3,960 | €52,750 | +€48,790 | +1232.1% |
| Income taxes | 67/77 | €164 | €174 | +€10 | +6.1% |
| Profit (loss) for the period | 9904 | €3,795 | €52,575 | +€48,780 | +1285.2% |
| Profit (loss) for the period to be appropriated | 9905 | €3,795 | €52,575 | +€48,780 | +1285.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.