C & E 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.
C & E Projects
Largest movements
- Current investments +€100,040
up €100,040 (+191.6%), from €52,223 to €152,263
- Cash -€86,899
down €86,899 (-41.5%), from €209,428 to €122,529
mainly Current investments (-€100,040) and Contributions, distributions and other (-€43,000)
- Tangible fixed assets -€26,640
down €26,640 (-6.6%), from €404,557 to €377,917
of which Land and buildings: -€14,016
- Tax, wage and social debts -€36,699
down €36,699 (-68.4%), from €53,630 to €16,931
of which Taxes: -€39,349
- Reserves +€34,218
up €34,218 (+10.9%), from €314,653 to €348,871
of which Distributable reserves: +€36,078
- Debts after one year -€20,552
down €20,552 (-9.0%), from €228,093 to €207,541
- Other debts +€15,711
up €15,711 (+35.0%), from €44,830 to €60,541
- Gross operating margin -€45,444
down €45,444 (-24.4%), from €186,498 to €141,054
- Taxes -€15,992
down €15,992 (-33.4%), from €47,861 to €31,868
- Depreciation +€4,102
up €4,102 (+18.2%), from €22,538 to €26,640
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 | €668,207 | €660,636 | -€7,571 | -1.1% |
| Fixed assets | 21/28 | €404,959 | €378,319 | -€26,640 | -6.6% |
| Tangible fixed assets | 22/27 | €404,557 | €377,917 | -€26,640 | -6.6% |
| Land and buildings | 22 | €349,635 | €335,619 | -€14,016 | -4.0% |
| Furniture and vehicles | 24 | €54,922 | €42,299 | -€12,624 | -23.0% |
| Financial fixed assets | 28 | €402 | €402 | = | 0.0% |
| Current assets | 29/58 | €263,248 | €282,317 | +€19,069 | +7.2% |
| Amounts receivable within one year | 40/41 | - | €6,140 | +€6,140 | |
| Other amounts receivable | 41 | - | €6,140 | +€6,140 | |
| Current investments | 50/53 | €52,223 | €152,263 | +€100,040 | +191.6% |
| Cash at bank and in hand | 54/58 | €209,428 | €122,529 | -€86,899 | -41.5% |
| Deferred charges and accrued income | 490/1 | €1,597 | €1,385 | -€212 | -13.3% |
| Total equity and liabilities | 10/49 | €668,207 | €660,636 | -€7,571 | -1.1% |
| Equity | 10/15 | €320,853 | €355,071 | +€34,218 | +10.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €314,653 | €348,871 | +€34,218 | +10.9% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €312,793 | €348,871 | +€36,078 | +11.5% |
| Amounts payable | 17/49 | €347,354 | €305,565 | -€41,789 | -12.0% |
| Amounts payable after more than one year | 17 | €228,093 | €207,541 | -€20,552 | -9.0% |
| Financial debts | 170/4 | €228,093 | €207,541 | -€20,552 | -9.0% |
| Amounts payable within one year | 42/48 | €119,261 | €98,024 | -€21,237 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €20,244 | €20,552 | +€308 | +1.5% |
| Trade debts | 44 | €557 | - | -€557 | |
| Suppliers | 440/4 | €557 | - | -€557 | |
| Taxes, remuneration and social security | 45 | €53,630 | €16,931 | -€36,699 | -68.4% |
| Taxes | 450/3 | €53,630 | €14,281 | -€39,349 | -73.4% |
| Remuneration and social security | 454/9 | - | €2,650 | +€2,650 | |
| Other amounts payable | 47/48 | €44,830 | €60,541 | +€15,711 | +35.0% |
| Non-recurring operating income | 76A | €25,063 | - | -€25,063 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,538 | €26,640 | +€4,102 | +18.2% |
| Other operating charges | 640/8 | €2,152 | €1,896 | -€257 | -11.9% |
| Gross operating margin | 9900 | €186,498 | €141,054 | -€45,444 | -24.4% |
| Operating profit (loss) | 9901 | €161,808 | €112,518 | -€49,289 | -30.5% |
| Financial income | 75/76B | €438 | €406 | -€31 | -7.2% |
| Recurring financial income | 75 | €438 | €406 | -€31 | -7.2% |
| Financial charges | 65/66B | €4,385 | €3,838 | -€546 | -12.5% |
| Recurring financial charges | 65 | €4,385 | €3,838 | -€546 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €157,861 | €109,086 | -€48,774 | -30.9% |
| Income taxes | 67/77 | €47,861 | €31,868 | -€15,992 | -33.4% |
| Profit (loss) for the period | 9904 | €110,000 | €77,218 | -€32,782 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €110,000 | €77,218 | -€32,782 | -29.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.