BE³-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.
BE³-PROJECTS
Largest movements
- Receivables within one year +€80,671
up €80,671 (+218.8%), from €36,875 to €117,546
of which Trade receivables: +€65,426
- Cash +€58,958
up €58,958 (+56.7%), from €103,997 to €162,955
mainly Trade debts (+€114,209) and Net result for the year (+€57,948)
- Tangible fixed assets +€4,693
up €4,693 (+9.5%), from €49,523 to €54,216
of which Other tangible fixed assets: +€23,018
- Trade debts +€114,209
up €114,209 (+2105.8%), from €5,424 to €119,632
- Other debts +€23,202
up €23,202 (+373.0%), from €6,220 to €29,421
- Tax, wage and social debts +€7,937
up €7,937 (+78.4%), from €10,121 to €18,058
- Gross operating margin +€7,615
up €7,615 (+8.0%), from €95,280 to €102,895
- Taxes +€2,454
up €2,454 (+11.4%), from €21,520 to €23,973
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 | €194,427 | €338,722 | +€144,296 | +74.2% |
| Fixed assets | 21/28 | €49,563 | €54,256 | +€4,693 | +9.5% |
| Tangible fixed assets | 22/27 | €49,523 | €54,216 | +€4,693 | +9.5% |
| Land and buildings | 22 | €17,118 | €15,058 | -€2,060 | -12.0% |
| Furniture and vehicles | 24 | €32,405 | €16,140 | -€16,265 | -50.2% |
| Other tangible fixed assets | 26 | - | €23,018 | +€23,018 | |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €144,864 | €284,466 | +€139,602 | +96.4% |
| Amounts receivable within one year | 40/41 | €36,875 | €117,546 | +€80,671 | +218.8% |
| Trade receivables | 40 | €35,144 | €100,571 | +€65,426 | +186.2% |
| Other amounts receivable | 41 | €1,730 | €16,976 | +€15,245 | +881.0% |
| Cash at bank and in hand | 54/58 | €103,997 | €162,955 | +€58,958 | +56.7% |
| Deferred charges and accrued income | 490/1 | €3,992 | €3,965 | -€27 | -0.7% |
| Total equity and liabilities | 10/49 | €194,427 | €338,722 | +€144,296 | +74.2% |
| Equity | 10/15 | €172,662 | €171,611 | -€1,052 | -0.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €160,262 | €159,211 | -€1,052 | -0.7% |
| Distributable reserves | 133 | €160,262 | €159,211 | -€1,052 | -0.7% |
| Amounts payable | 17/49 | €21,765 | €167,112 | +€145,347 | +667.8% |
| Amounts payable within one year | 42/48 | €21,765 | €167,112 | +€145,347 | +667.8% |
| Trade debts | 44 | €5,424 | €119,632 | +€114,209 | +2105.8% |
| Suppliers | 440/4 | €5,424 | €119,632 | +€114,209 | +2105.8% |
| Taxes, remuneration and social security | 45 | €10,121 | €18,058 | +€7,937 | +78.4% |
| Taxes | 450/3 | €10,121 | €18,058 | +€7,937 | +78.4% |
| Other amounts payable | 47/48 | €6,220 | €29,421 | +€23,202 | +373.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,892 | €20,233 | +€341 | +1.7% |
| Other operating charges | 640/8 | €1,084 | €975 | -€109 | -10.1% |
| Gross operating margin | 9900 | €95,280 | €102,895 | +€7,615 | +8.0% |
| Operating profit (loss) | 9901 | €74,304 | €81,687 | +€7,383 | +9.9% |
| Financial income | 75/76B | €68 | €343 | +€275 | +404.4% |
| Recurring financial income | 75 | €68 | €343 | +€275 | +404.4% |
| Financial charges | 65/66B | €271 | €108 | -€163 | -60.1% |
| Recurring financial charges | 65 | €271 | €108 | -€163 | -60.1% |
| Profit (loss) for the period before taxes | 9903 | €74,101 | €81,922 | +€7,821 | +10.6% |
| Income taxes | 67/77 | €21,520 | €23,973 | +€2,454 | +11.4% |
| Profit (loss) for the period | 9904 | €52,581 | €57,948 | +€5,367 | +10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €52,581 | €57,948 | +€5,367 | +10.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.