Bielen Project: 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.
Bielen Project
Largest movements
- Tangible fixed assets -€3,500
down €3,500 (-28.3%), from €12,365 to €8,865
- Cash +€1,375
up €1,375 (+31.3%), from €4,386 to €5,761
mainly Trade debts (+€9,143) and Depreciation (+€3,500)
- Deferred charges and accrued income +€571
up €571 (+2,780%), from €21 to €591
- Receivables within one year -€478
down €478 (-11.7%), from €4,087 to €3,609
of which Trade receivables: -€1,784
- Trade debts +€9,143
up €9,143 (+4,848%), from €189 to €9,332
- Accrued charges and deferred income -€3,391
down €3,391 (-98.4%), from €3,445 to €54
- Profit (loss) carried forward -€3,364
down €3,364 (-97.0%), from -€3,467 to -€6,830
- Debts after one year -€3,251
no longer reported in 2025 (was €3,251)
- Current portion of long-term debt -€2,713
down €2,713 (-42.7%), from €6,349 to €3,635
- Gross operating margin -€1,699
down €1,699 (-52.1%), from €3,259 to €1,560
- Depreciation -€1,635
down €1,635 (-31.8%), from €5,135 to €3,500
- Financial charges -€646
down €646 (-52.5%), from €1,230 to €584
- Other operating charges +€463
up €463 (+121%), from €383 to €846
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 | €20,859 | €18,827 | -€2,032 | -9.7% |
| Fixed assets | 21/28 | €12,365 | €8,865 | -€3,500 | -28.3% |
| Tangible fixed assets | 22/27 | €12,365 | €8,865 | -€3,500 | -28.3% |
| Furniture and vehicles | 24 | €12,365 | €8,865 | -€3,500 | -28.3% |
| Current assets | 29/58 | €8,494 | €9,962 | +€1,468 | +17.3% |
| Amounts receivable within one year | 40/41 | €4,087 | €3,609 | -€478 | -11.7% |
| Trade receivables | 40 | €3,539 | €1,755 | -€1,784 | -50.4% |
| Other amounts receivable | 41 | €548 | €1,854 | +€1,306 | +238% |
| Cash at bank and in hand | 54/58 | €4,386 | €5,761 | +€1,375 | +31.3% |
| Deferred charges and accrued income | 490/1 | €21 | €591 | +€571 | +2,780% |
| Total equity and liabilities | 10/49 | €20,859 | €18,827 | -€2,032 | -9.7% |
| Equity | 10/15 | €2,533 | -€830 | -€3,364 | |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,467 | -€6,830 | -€3,364 | -97.0% |
| Amounts payable | 17/49 | €18,325 | €19,657 | +€1,332 | +7.3% |
| Amounts payable after more than one year | 17 | €3,251 | - | -€3,251 | |
| Financial debts | 170/4 | €3,251 | - | -€3,251 | |
| Amounts payable within one year | 42/48 | €11,629 | €19,603 | +€7,974 | +68.6% |
| Current portion of amounts payable after more than one year | 42 | €6,349 | €3,635 | -€2,713 | -42.7% |
| Trade debts | 44 | €189 | €9,332 | +€9,143 | +4,848% |
| Suppliers | 440/4 | €189 | €9,332 | +€9,143 | +4,848% |
| Taxes, remuneration and social security | 45 | €603 | €2,000 | +€1,397 | +232% |
| Taxes | 450/3 | €103 | - | -€103 | |
| Remuneration and social security | 454/9 | €500 | €2,000 | +€1,500 | +300% |
| Other amounts payable | 47/48 | €4,489 | €4,636 | +€146 | +3.3% |
| Accrued charges and deferred income | 492/3 | €3,445 | €54 | -€3,391 | -98.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,135 | €3,500 | -€1,635 | -31.8% |
| Other operating charges | 640/8 | €383 | €846 | +€463 | +121% |
| Gross operating margin | 9900 | €3,259 | €1,560 | -€1,699 | -52.1% |
| Operating profit (loss) | 9901 | -€2,260 | -€2,787 | -€527 | -23.3% |
| Financial income | 75/76B | €24 | €7 | -€16 | -69.5% |
| Recurring financial income | 75 | €24 | €7 | -€16 | -69.5% |
| Financial charges | 65/66B | €1,230 | €584 | -€646 | -52.5% |
| Recurring financial charges | 65 | €1,230 | €584 | -€646 | -52.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,467 | -€3,364 | +€103 | +3.0% |
| Profit (loss) for the period | 9904 | -€3,467 | -€3,364 | +€103 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,467 | -€3,364 | +€103 | +3.0% |
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 17 October 2026 via checked.be.