BLITZ 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.
BLITZ PROJECTS
Largest movements
- Receivables within one year -€67,110
down €67,110 (-52.4%), from €127,964 to €60,855
of which Trade receivables: -€106,220
- Stocks and contracts -€42,787
down €42,787 (-100.0%), from €42,787 to €0
- Tangible fixed assets -€9,745
down €9,745 (-33.7%), from €28,874 to €19,130
of which Land and buildings: -€9,208
- Deferred charges and accrued income +€8,101
new in 2025: €8,101
- Other debts -€143,266
down €143,266 (-100.0%), from €143,266 to €0
- Profit (loss) carried forward +€40,287
up €40,287 (+65.5%), from -€61,537 to -€21,250
- Current portion of long-term debt -€36,354
down €36,354 (-100.0%), from €36,354 to €0
- Tax, wage and social debts +€16,850
up €16,850 (+342.6%), from €4,919 to €21,768
of which Taxes: +€21,487
- Trade debts -€16,259
down €16,259 (-25.4%), from €64,075 to €47,815
- Staff costs -€27,921
down €27,921 (-100.0%), from €27,921 to €0
- Gross operating margin +€21,180
up €21,180 (+51.5%), from €41,095 to €62,275
- Taxes +€9,463
up €9,463 (+3370.5%), from €281 to €9,744
- Other operating charges -€4,107
down €4,107 (-37.0%), from €11,091 to €6,983
- Financial income -€3,624
down €3,624 (-96.3%), from €3,762 to €138
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 | €205,677 | €92,489 | -€113,188 | -55.0% |
| Fixed assets | 21/28 | €28,874 | €19,130 | -€9,745 | -33.7% |
| Tangible fixed assets | 22/27 | €28,874 | €19,130 | -€9,745 | -33.7% |
| Land and buildings | 22 | €19,656 | €10,449 | -€9,208 | -46.8% |
| Plant, machinery and equipment | 23 | €5,011 | €7,817 | +€2,806 | +56.0% |
| Furniture and vehicles | 24 | €4,207 | €864 | -€3,343 | -79.5% |
| Current assets | 29/58 | €176,803 | €73,360 | -€103,443 | -58.5% |
| Stocks and contracts in progress | 3 | €42,787 | €0 | -€42,787 | -100.0% |
| Stocks | 30/36 | €42,787 | €0 | -€42,787 | -100.0% |
| Amounts receivable within one year | 40/41 | €127,964 | €60,855 | -€67,110 | -52.4% |
| Trade receivables | 40 | €117,568 | €11,348 | -€106,220 | -90.3% |
| Other amounts receivable | 41 | €10,396 | €49,506 | +€39,111 | +376.2% |
| Cash at bank and in hand | 54/58 | €6,052 | €4,404 | -€1,647 | -27.2% |
| Deferred charges and accrued income | 490/1 | - | €8,101 | +€8,101 | |
| Total equity and liabilities | 10/49 | €205,677 | €92,489 | -€113,188 | -55.0% |
| Equity | 10/15 | -€42,937 | -€2,650 | +€40,287 | +93.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,537 | -€21,250 | +€40,287 | +65.5% |
| Amounts payable | 17/49 | €248,614 | €95,139 | -€153,474 | -61.7% |
| Amounts payable within one year | 42/48 | €248,614 | €84,429 | -€164,184 | -66.0% |
| Current portion of amounts payable after more than one year | 42 | €36,354 | €0 | -€36,354 | -100.0% |
| Financial debts | 43 | - | €14,846 | +€14,846 | |
| Credit institutions | 430/8 | - | €14,846 | +€14,846 | |
| Trade debts | 44 | €64,075 | €47,815 | -€16,259 | -25.4% |
| Suppliers | 440/4 | €64,075 | €47,815 | -€16,259 | -25.4% |
| Taxes, remuneration and social security | 45 | €4,919 | €21,768 | +€16,850 | +342.6% |
| Taxes | 450/3 | €281 | €21,768 | +€21,487 | +7653.1% |
| Remuneration and social security | 454/9 | €4,638 | €0 | -€4,638 | -100.0% |
| Other amounts payable | 47/48 | €143,266 | €0 | -€143,266 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €10,710 | +€10,710 | |
| Remuneration, social security and pensions | 62 | €27,921 | €0 | -€27,921 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,213 | €2,299 | -€1,914 | -45.4% |
| Other operating charges | 640/8 | €11,091 | €6,983 | -€4,107 | -37.0% |
| Gross operating margin | 9900 | €41,095 | €62,275 | +€21,180 | +51.5% |
| Operating profit (loss) | 9901 | -€2,129 | €52,993 | +€55,122 | |
| Financial income | 75/76B | €3,762 | €138 | -€3,624 | -96.3% |
| Recurring financial income | 75 | €3,762 | €138 | -€3,624 | -96.3% |
| Financial charges | 65/66B | €6,308 | €3,100 | -€3,208 | -50.9% |
| Recurring financial charges | 65 | €6,308 | €3,100 | -€3,208 | -50.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,675 | €50,031 | +€54,706 | |
| Income taxes | 67/77 | €281 | €9,744 | +€9,463 | +3370.5% |
| Profit (loss) for the period | 9904 | -€4,955 | €40,287 | +€45,242 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,955 | €40,287 | +€45,242 |
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 10 October 2026 via checked.be.