b.projeX: 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.projeX
Largest movements
- Receivables within one year +€21,243
up €21,243 (+62.1%), from €34,216 to €55,459
of which Trade receivables: +€22,042
- Cash +€16,267
up €16,267 (+188.6%), from €8,625 to €24,892
mainly Other debts (+€10,421) and Trade debts (+€10,418)
- Stocks and contracts -€3,140
down €3,140 (-36.7%), from €8,560 to €5,420
- Other debts +€10,421
up €10,421 (+53.2%), from €19,590 to €30,011
- Trade debts +€10,418
up €10,418 (+167.7%), from €6,213 to €16,631
- Profit (loss) carried forward +€7,506
up €7,506 (+30.0%), from -€25,012 to -€17,506
- Advances received +€5,422
new in 2025: €5,422
- Gross operating margin +€3,312
up €3,312 (+5.0%), from €66,774 to €70,086
- Staff costs +€3,290
up €3,290 (+5.7%), from €57,693 to €60,983
- Depreciation -€2,008
down €2,008 (-100.0%), from €2,008 to €0
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 | €52,729 | €87,169 | +€34,440 | +65.3% |
| Fixed assets | 21/28 | €20 | €20 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €20 | €20 | = | 0.0% |
| Current assets | 29/58 | €52,709 | €87,149 | +€34,440 | +65.3% |
| Stocks and contracts in progress | 3 | €8,560 | €5,420 | -€3,140 | -36.7% |
| Stocks | 30/36 | €8,560 | €5,420 | -€3,140 | -36.7% |
| Amounts receivable within one year | 40/41 | €34,216 | €55,459 | +€21,243 | +62.1% |
| Trade receivables | 40 | €29,099 | €51,140 | +€22,042 | +75.7% |
| Other amounts receivable | 41 | €5,117 | €4,319 | -€798 | -15.6% |
| Cash at bank and in hand | 54/58 | €8,625 | €24,892 | +€16,267 | +188.6% |
| Deferred charges and accrued income | 490/1 | €1,309 | €1,378 | +€69 | +5.3% |
| Total equity and liabilities | 10/49 | €52,729 | €87,169 | +€34,440 | +65.3% |
| Equity | 10/15 | -€12,612 | -€5,106 | +€7,506 | +59.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,012 | -€17,506 | +€7,506 | +30.0% |
| Amounts payable | 17/49 | €65,341 | €92,275 | +€26,934 | +41.2% |
| Amounts payable after more than one year | 17 | €35,000 | €35,000 | = | 0.0% |
| Financial debts | 170/4 | €35,000 | €35,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €30,341 | €57,275 | +€26,934 | +88.8% |
| Trade debts | 44 | €6,213 | €16,631 | +€10,418 | +167.7% |
| Suppliers | 440/4 | €6,213 | €16,631 | +€10,418 | +167.7% |
| Advances received on contracts in progress | 46 | - | €5,422 | +€5,422 | |
| Taxes, remuneration and social security | 45 | €4,538 | €5,212 | +€673 | +14.8% |
| Taxes | 450/3 | €1,709 | €2,077 | +€368 | +21.5% |
| Remuneration and social security | 454/9 | €2,829 | €3,135 | +€306 | +10.8% |
| Other amounts payable | 47/48 | €19,590 | €30,011 | +€10,421 | +53.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €57,693 | €60,983 | +€3,290 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,008 | €0 | -€2,008 | -100.0% |
| Other operating charges | 640/8 | €550 | €306 | -€245 | -44.4% |
| Gross operating margin | 9900 | €66,774 | €70,086 | +€3,312 | +5.0% |
| Operating profit (loss) | 9901 | €6,522 | €8,798 | +€2,275 | +34.9% |
| Financial income | 75/76B | €103 | €0 | -€103 | -99.8% |
| Recurring financial income | 75 | €103 | €0 | -€103 | -99.8% |
| Financial charges | 65/66B | €1,375 | €1,292 | -€84 | -6.1% |
| Recurring financial charges | 65 | €1,375 | €1,292 | -€84 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €5,250 | €7,506 | +€2,256 | +43.0% |
| Profit (loss) for the period | 9904 | €5,250 | €7,506 | +€2,256 | +43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,250 | €7,506 | +€2,256 | +43.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.