B2 PROJECTEN: 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.
B2 PROJECTEN
Largest movements
- Stocks and contracts -€305,840
down €305,840 (-36.8%), from €831,821 to €525,981
- Receivables within one year +€183,942
up €183,942 (+16.2%), from €1.1m to €1.3m
of which Trade receivables: +€184,671
- Cash -€30,830
down €30,830 (-68.1%), from €45,275 to €14,445
mainly Receivables within one year (-€183,942) and Contributions, distributions and other (-€120,000)
- Tangible fixed assets -€28,781
down €28,781 (-4.4%), from €657,035 to €628,254
of which Land and buildings: -€26,743
- Profit (loss) carried forward -€166,594
down €166,594 (-9.4%), from €1.8m to €1.6m
- Gross operating margin +€37,506
up €37,506 (+99.8%), from -€37,568 to -€62
- Financial charges +€387
up €387 (+3.1%), from €12,678 to €13,065
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.
Derived cash bridge
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 | €2,697,070 | €2,509,967 | -€187,103 | -6.9% |
| Fixed assets | 21/28 | €657,035 | €628,254 | -€28,781 | -4.4% |
| Tangible fixed assets | 22/27 | €657,035 | €628,254 | -€28,781 | -4.4% |
| Land and buildings | 22 | €652,028 | €625,285 | -€26,743 | -4.1% |
| Furniture and vehicles | 24 | €5,007 | €2,968 | -€2,039 | -40.7% |
| Current assets | 29/58 | €2,040,034 | €1,881,713 | -€158,321 | -7.8% |
| Stocks and contracts in progress | 3 | €831,821 | €525,981 | -€305,840 | -36.8% |
| Contracts in progress | 37 | €831,821 | €525,981 | -€305,840 | -36.8% |
| Amounts receivable within one year | 40/41 | €1,135,993 | €1,319,935 | +€183,942 | +16.2% |
| Trade receivables | 40 | €1,132,317 | €1,316,988 | +€184,671 | +16.3% |
| Other amounts receivable | 41 | €3,675 | €2,947 | -€729 | -19.8% |
| Cash at bank and in hand | 54/58 | €45,275 | €14,445 | -€30,830 | -68.1% |
| Deferred charges and accrued income | 490/1 | €26,946 | €21,353 | -€5,594 | -20.8% |
| Total equity and liabilities | 10/49 | €2,697,070 | €2,509,967 | -€187,103 | -6.9% |
| Equity | 10/15 | €2,523,424 | €2,356,830 | -€166,594 | -6.6% |
| Contributions | 10/11 | €412,000 | €412,000 | = | 0.0% |
| Reserves | 13 | €332,448 | €332,448 | = | 0.0% |
| Distributable reserves | 133 | €332,448 | €332,448 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,778,976 | €1,612,382 | -€166,594 | -9.4% |
| Amounts payable | 17/49 | €173,645 | €153,137 | -€20,508 | -11.8% |
| Amounts payable within one year | 42/48 | €173,645 | €153,137 | -€20,508 | -11.8% |
| Trade debts | 44 | €23,202 | €13,024 | -€10,178 | -43.9% |
| Suppliers | 440/4 | €23,202 | €13,024 | -€10,178 | -43.9% |
| Taxes, remuneration and social security | 45 | €280 | €0 | -€280 | -100% |
| Taxes | 450/3 | €280 | €0 | -€280 | -100% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €150,163 | €140,113 | -€10,050 | -6.7% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,782 | €28,781 | -€1 | 0.0% |
| Other operating charges | 640/8 | €4,603 | €4,686 | +€83 | +1.8% |
| Gross operating margin | 9900 | -€37,568 | -€62 | +€37,506 | +99.8% |
| Operating profit (loss) | 9901 | -€70,953 | -€33,529 | +€37,424 | +52.7% |
| Financial income | 75/76B | €45 | €0 | -€45 | -100% |
| Recurring financial income | 75 | €45 | €0 | -€45 | -100% |
| Financial charges | 65/66B | €12,678 | €13,065 | +€387 | +3.1% |
| Recurring financial charges | 65 | €12,678 | €13,065 | +€387 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | -€83,587 | -€46,594 | +€36,993 | +44.3% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€83,587 | -€46,594 | +€36,993 | +44.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,587 | -€46,594 | +€36,993 | +44.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.