Base 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.
Base Projects
Largest movements
- Tangible fixed assets +€177,486
up €177,486 (+1004.2%), from €17,674 to €195,160
of which Land and buildings: +€183,445
- Cash +€22,446
up €22,446 (+114.6%), from €19,578 to €42,024
mainly Debts after one year (+€131,759) and Net result for the year (+€46,263)
- Receivables within one year -€11,703
down €11,703 (-59.1%), from €19,816 to €8,113
of which Trade receivables: -€14,554
- Deferred charges and accrued income +€9,935
up €9,935 (+12417.8%), from €80 to €10,015
- Debts after one year +€131,759
new in 2025: €131,759
- Reserves +€46,263
up €46,263 (+136.7%), from €33,847 to €80,109
- Tax, wage and social debts +€16,456
up €16,456 (+112.1%), from €14,678 to €31,134
- Other debts +€8,164
new in 2025: €8,164
- Trade debts -€7,630
down €7,630 (-96.3%), from €7,927 to €297
- Gross operating margin +€31,853
up €31,853 (+59.9%), from €53,221 to €85,075
- Financial charges +€5,330
up €5,330 (+62857.7%), from €8 to €5,339
- Taxes +€4,683
up €4,683 (+36.9%), from €12,701 to €17,384
- Depreciation +€1,910
up €1,910 (+31.0%), from €6,162 to €8,072
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 | €59,709 | €257,370 | +€197,661 | +331.0% |
| Fixed assets | 21/28 | €17,674 | €195,160 | +€177,486 | +1004.2% |
| Tangible fixed assets | 22/27 | €17,674 | €195,160 | +€177,486 | +1004.2% |
| Land and buildings | 22 | - | €183,445 | +€183,445 | |
| Plant, machinery and equipment | 23 | €4,706 | €3,108 | -€1,598 | -34.0% |
| Furniture and vehicles | 24 | €12,968 | €8,607 | -€4,361 | -33.6% |
| Current assets | 29/58 | €42,035 | €62,210 | +€20,176 | +48.0% |
| Stocks and contracts in progress | 3 | €2,561 | €2,058 | -€503 | -19.6% |
| Stocks | 30/36 | €2,561 | €2,058 | -€503 | -19.6% |
| Amounts receivable within one year | 40/41 | €19,816 | €8,113 | -€11,703 | -59.1% |
| Trade receivables | 40 | €19,076 | €4,522 | -€14,554 | -76.3% |
| Other amounts receivable | 41 | €740 | €3,590 | +€2,851 | +385.5% |
| Cash at bank and in hand | 54/58 | €19,578 | €42,024 | +€22,446 | +114.6% |
| Deferred charges and accrued income | 490/1 | €80 | €10,015 | +€9,935 | +12417.8% |
| Total equity and liabilities | 10/49 | €59,709 | €257,370 | +€197,661 | +331.0% |
| Equity | 10/15 | €36,347 | €82,609 | +€46,263 | +127.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €33,847 | €80,109 | +€46,263 | +136.7% |
| Distributable reserves | 133 | €33,847 | €80,109 | +€46,263 | +136.7% |
| Amounts payable | 17/49 | €23,362 | €174,761 | +€151,399 | +648.1% |
| Amounts payable after more than one year | 17 | - | €131,759 | +€131,759 | |
| Financial debts | 170/4 | - | €131,759 | +€131,759 | |
| Amounts payable within one year | 42/48 | €22,606 | €41,595 | +€18,989 | +84.0% |
| Trade debts | 44 | €7,927 | €297 | -€7,630 | -96.3% |
| Suppliers | 440/4 | €7,927 | €297 | -€7,630 | -96.3% |
| Advances received on contracts in progress | 46 | - | €2,000 | +€2,000 | |
| Taxes, remuneration and social security | 45 | €14,678 | €31,134 | +€16,456 | +112.1% |
| Taxes | 450/3 | €14,678 | €31,134 | +€16,456 | +112.1% |
| Other amounts payable | 47/48 | - | €8,164 | +€8,164 | |
| Accrued charges and deferred income | 492/3 | €756 | €1,407 | +€650 | +86.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,162 | €8,072 | +€1,910 | +31.0% |
| Other operating charges | 640/8 | €504 | €1,345 | +€841 | +166.7% |
| Non-recurring operating charges | 66A | - | €6,682 | +€6,682 | |
| Gross operating margin | 9900 | €53,221 | €85,075 | +€31,853 | +59.9% |
| Operating profit (loss) | 9901 | €46,555 | €68,975 | +€22,420 | +48.2% |
| Financial income | 75/76B | €1 | €10 | +€9 | +1201.3% |
| Recurring financial income | 75 | €1 | €10 | +€9 | +1201.3% |
| Financial charges | 65/66B | €8 | €5,339 | +€5,330 | +62857.7% |
| Recurring financial charges | 65 | €8 | €5,339 | +€5,330 | +62857.7% |
| Profit (loss) for the period before taxes | 9903 | €46,547 | €63,646 | +€17,099 | +36.7% |
| Income taxes | 67/77 | €12,701 | €17,384 | +€4,683 | +36.9% |
| Profit (loss) for the period | 9904 | €33,847 | €46,263 | +€12,416 | +36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €33,847 | €46,263 | +€12,416 | +36.7% |
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 12 October 2026 via checked.be.