BO 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.
BO PROJECT
Largest movements
- Receivables after one year +€63,500
up €63,500 (+84.7%), from €75,000 to €138,500
- Cash -€5,708
down €5,708 (-95.3%), from €5,991 to €283
mainly Receivables after one year (-€63,500) and Other debts (-€15,374)
- Advances received +€22,680
up €22,680 (+328.0%), from €6,914 to €29,594
- Trade debts +€22,431
up €22,431 (+6.9%), from €325,425 to €347,855
- Profit (loss) carried forward +€21,244
up €21,244 (+29.3%), from €72,547 to €93,791
- Other debts -€15,374
down €15,374 (-63.0%), from €24,415 to €9,041
- Gross operating margin -€26,747
down €26,747 (-15.8%), from €169,098 to €142,351
- Staff costs +€20,031
up €20,031 (+24.1%), from €83,035 to €103,066
- Taxes -€7,967
down €7,967 (-45.7%), from €17,427 to €9,460
- Depreciation -€2,875
down €2,875 (-29.9%), from €9,599 to €6,725
- Financial income +€2,164
up €2,164 (+208.5%), from €1,038 to €3,203
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 | €492,158 | €547,147 | +€54,989 | +11.2% |
| Fixed assets | 21/28 | €7,167 | €2,214 | -€4,953 | -69.1% |
| Tangible fixed assets | 22/27 | €7,167 | €2,214 | -€4,953 | -69.1% |
| Furniture and vehicles | 24 | €7,167 | €2,214 | -€4,953 | -69.1% |
| Current assets | 29/58 | €484,991 | €544,934 | +€59,942 | +12.4% |
| Amounts receivable after more than one year | 29 | €75,000 | €138,500 | +€63,500 | +84.7% |
| Other amounts receivable | 291 | €75,000 | €138,500 | +€63,500 | +84.7% |
| Amounts receivable within one year | 40/41 | €401,965 | €400,913 | -€1,052 | -0.3% |
| Trade receivables | 40 | €400,125 | €399,238 | -€887 | -0.2% |
| Other amounts receivable | 41 | €1,840 | €1,675 | -€165 | -9.0% |
| Cash at bank and in hand | 54/58 | €5,991 | €283 | -€5,708 | -95.3% |
| Deferred charges and accrued income | 490/1 | €2,035 | €5,238 | +€3,203 | +157.4% |
| Total equity and liabilities | 10/49 | €492,158 | €547,147 | +€54,989 | +11.2% |
| Equity | 10/15 | €74,547 | €95,791 | +€21,244 | +28.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,547 | €93,791 | +€21,244 | +29.3% |
| Amounts payable | 17/49 | €417,611 | €451,356 | +€33,745 | +8.1% |
| Amounts payable within one year | 42/48 | €391,904 | €426,356 | +€34,452 | +8.8% |
| Trade debts | 44 | €325,425 | €347,855 | +€22,431 | +6.9% |
| Suppliers | 440/4 | €325,425 | €347,855 | +€22,431 | +6.9% |
| Advances received on contracts in progress | 46 | €6,914 | €29,594 | +€22,680 | +328.0% |
| Taxes, remuneration and social security | 45 | €35,150 | €39,866 | +€4,716 | +13.4% |
| Taxes | 450/3 | €19,171 | €17,081 | -€2,089 | -10.9% |
| Remuneration and social security | 454/9 | €15,980 | €22,785 | +€6,805 | +42.6% |
| Other amounts payable | 47/48 | €24,415 | €9,041 | -€15,374 | -63.0% |
| Accrued charges and deferred income | 492/3 | €25,708 | €25,001 | -€707 | -2.7% |
| Remuneration, social security and pensions | 62 | €83,035 | €103,066 | +€20,031 | +24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,599 | €6,725 | -€2,875 | -29.9% |
| Other operating charges | 640/8 | €2,724 | €3,153 | +€429 | +15.8% |
| Gross operating margin | 9900 | €169,098 | €142,351 | -€26,747 | -15.8% |
| Operating profit (loss) | 9901 | €73,740 | €29,408 | -€44,332 | -60.1% |
| Financial income | 75/76B | €1,038 | €3,203 | +€2,164 | +208.5% |
| Recurring financial income | 75 | €1,038 | €3,203 | +€2,164 | +208.5% |
| Financial charges | 65/66B | €1,725 | €1,906 | +€181 | +10.5% |
| Recurring financial charges | 65 | €1,725 | €1,906 | +€181 | +10.5% |
| Profit (loss) for the period before taxes | 9903 | €73,053 | €30,704 | -€42,348 | -58.0% |
| Income taxes | 67/77 | €17,427 | €9,460 | -€7,967 | -45.7% |
| Profit (loss) for the period | 9904 | €55,626 | €21,244 | -€34,382 | -61.8% |
| Profit (loss) for the period to be appropriated | 9905 | €55,626 | €21,244 | -€34,382 | -61.8% |
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.