BR 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.
BR PROJECT
Largest movements
- Tangible fixed assets +€32,926
up €32,926 (+387%), from €8,500 to €41,426
of which Furniture and vehicles: +€20,717
- Cash -€15,981
down €15,981 (-71.5%), from €22,344 to €6,362
mainly Investment in fixed assets (net) (-€53,840) and Receivables within one year (-€6,276)
- Receivables within one year +€6,276
up €6,276 (+72.3%), from €8,683 to €14,960
of which Other amounts receivable: +€4,464
- Profit (loss) carried forward +€21,646
up €21,646 (+61.7%), from €35,088 to €56,734
- Other debts +€2,012
up €2,012 (+151%), from €1,337 to €3,348
- Turnover +€48,934
up €48,934 (+59.7%), from €81,940 to €130,875
- Gross operating margin +€44,289
up €44,289 (+501%), from €8,838 to €53,126
- Depreciation +€20,913
new in 2025: €20,913
- Taxes +€7,037
new in 2025: €7,037
- Staff costs -€6,966
no longer reported in 2025 (was €6,966)
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 | €39,527 | €62,748 | +€23,221 | +58.7% |
| Fixed assets | 21/28 | €8,500 | €41,426 | +€32,926 | +387% |
| Tangible fixed assets | 22/27 | €8,500 | €41,426 | +€32,926 | +387% |
| Plant, machinery and equipment | 23 | - | €12,210 | +€12,210 | |
| Furniture and vehicles | 24 | €8,500 | €29,217 | +€20,717 | +244% |
| Current assets | 29/58 | €31,027 | €21,322 | -€9,705 | -31.3% |
| Amounts receivable within one year | 40/41 | €8,683 | €14,960 | +€6,276 | +72.3% |
| Trade receivables | 40 | €8,574 | €10,386 | +€1,812 | +21.1% |
| Other amounts receivable | 41 | €109 | €4,573 | +€4,464 | +4,092% |
| Cash at bank and in hand | 54/58 | €22,344 | €6,362 | -€15,981 | -71.5% |
| Total equity and liabilities | 10/49 | €39,527 | €62,748 | +€23,221 | +58.7% |
| Equity | 10/15 | €37,588 | €59,234 | +€21,646 | +57.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,088 | €56,734 | +€21,646 | +61.7% |
| Amounts payable | 17/49 | €1,939 | €3,514 | +€1,575 | +81.2% |
| Amounts payable within one year | 42/48 | €1,939 | €3,514 | +€1,575 | +81.2% |
| Trade debts | 44 | €603 | €166 | -€436 | -72.4% |
| Suppliers | 440/4 | €603 | €166 | -€436 | -72.4% |
| Other amounts payable | 47/48 | €1,337 | €3,348 | +€2,012 | +151% |
| Turnover | 70 | €81,940 | €130,875 | +€48,934 | +59.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €73,103 | €77,749 | +€4,646 | +6.4% |
| Remuneration, social security and pensions | 62 | €6,966 | - | -€6,966 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €20,913 | +€20,913 | |
| Other operating charges | 640/8 | €79 | €3,484 | +€3,404 | +4,298% |
| Gross operating margin | 9900 | €8,838 | €53,126 | +€44,289 | +501% |
| Operating profit (loss) | 9901 | €1,792 | €28,729 | +€26,937 | +1,503% |
| Financial charges | 65/66B | €46 | €47 | +€0 | +0.4% |
| Recurring financial charges | 65 | €46 | €47 | +€0 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €1,746 | €28,683 | +€26,937 | +1,543% |
| Income taxes | 67/77 | - | €7,037 | +€7,037 | |
| Profit (loss) for the period | 9904 | €1,746 | €21,646 | +€19,900 | +1,140% |
| Profit (loss) for the period to be appropriated | 9905 | €1,746 | €21,646 | +€19,900 | +1,140% |
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 15 October 2026 via checked.be.