C-PROJECT: 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-PROJECT
Largest movements
- Receivables within one year +€68,390
up €68,390 (+162.7%), from €42,028 to €110,418
of which Other amounts receivable: +€79,477
- Tangible fixed assets -€12,604
down €12,604 (-2.1%), from €604,711 to €592,107
of which Land and buildings: -€8,505
- Short-term financial debts -€100,323
down €100,323 (-100.0%), from €100,323 to €0
of which Credit institutions: -€79,990
- Reserves +€62,612
up €62,612 (+49.3%), from €126,886 to €189,497
- Current portion of long-term debt +€27,065
up €27,065 (+93.7%), from €28,889 to €55,953
- Trade debts +€25,024
up €25,024 (+36.5%), from €68,519 to €93,543
- Tax, wage and social debts +€18,166
up €18,166 (+19.9%), from €91,085 to €109,252
of which Taxes: +€21,786
- Taxes +€15,662
up €15,662 (+79.5%), from €19,694 to €35,357
- Gross operating margin +€13,829
up €13,829 (+5.5%), from €249,856 to €263,685
- Staff costs +€11,242
up €11,242 (+9.5%), from €118,306 to €129,548
- Financial charges -€8,415
down €8,415 (-30.1%), from €28,001 to €19,586
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 | €763,352 | €813,338 | +€49,986 | +6.5% |
| Fixed assets | 21/28 | €609,961 | €597,357 | -€12,604 | -2.1% |
| Tangible fixed assets | 22/27 | €604,711 | €592,107 | -€12,604 | -2.1% |
| Land and buildings | 22 | €589,754 | €581,249 | -€8,505 | -1.4% |
| Plant, machinery and equipment | 23 | €8,394 | €6,228 | -€2,166 | -25.8% |
| Furniture and vehicles | 24 | €6,564 | €4,630 | -€1,934 | -29.5% |
| Financial fixed assets | 28 | €5,250 | €5,250 | = | 0.0% |
| Current assets | 29/58 | €153,391 | €215,981 | +€62,590 | +40.8% |
| Stocks and contracts in progress | 3 | €49,872 | €46,922 | -€2,949 | -5.9% |
| Stocks | 30/36 | €49,872 | €46,922 | -€2,949 | -5.9% |
| Amounts receivable within one year | 40/41 | €42,028 | €110,418 | +€68,390 | +162.7% |
| Trade receivables | 40 | €14,455 | €3,368 | -€11,087 | -76.7% |
| Other amounts receivable | 41 | €27,573 | €107,049 | +€79,477 | +288.2% |
| Cash at bank and in hand | 54/58 | €56,029 | €54,096 | -€1,932 | -3.4% |
| Deferred charges and accrued income | 490/1 | €5,463 | €4,545 | -€918 | -16.8% |
| Total equity and liabilities | 10/49 | €763,352 | €813,338 | +€49,986 | +6.5% |
| Equity | 10/15 | €257,738 | €320,349 | +€62,612 | +24.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €268,000 | €268,000 | = | 0.0% |
| Reserves | 13 | €126,886 | €189,497 | +€62,612 | +49.3% |
| Distributable reserves | 133 | €126,886 | €189,497 | +€62,612 | +49.3% |
| Profit (loss) carried forward | 14 | -€155,748 | -€155,748 | = | 0.0% |
| Amounts payable | 17/49 | €505,615 | €492,989 | -€12,626 | -2.5% |
| Amounts payable after more than one year | 17 | €213,290 | €231,092 | +€17,802 | +8.3% |
| Financial debts | 170/4 | €213,290 | €231,092 | +€17,802 | +8.3% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €288,816 | €258,748 | -€30,068 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €28,889 | €55,953 | +€27,065 | +93.7% |
| Financial debts | 43 | €100,323 | €0 | -€100,323 | -100.0% |
| Credit institutions | 430/8 | €79,990 | €0 | -€79,990 | -100.0% |
| Other loans | 439 | €20,333 | €0 | -€20,333 | -100.0% |
| Trade debts | 44 | €68,519 | €93,543 | +€25,024 | +36.5% |
| Suppliers | 440/4 | €68,519 | €93,543 | +€25,024 | +36.5% |
| Taxes, remuneration and social security | 45 | €91,085 | €109,252 | +€18,166 | +19.9% |
| Taxes | 450/3 | €56,997 | €78,783 | +€21,786 | +38.2% |
| Remuneration and social security | 454/9 | €34,089 | €30,468 | -€3,620 | -10.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €3,509 | €3,149 | -€360 | -10.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €118,306 | €129,548 | +€11,242 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,341 | €13,512 | +€1,171 | +9.5% |
| Other operating charges | 640/8 | €7,500 | €6,596 | -€905 | -12.1% |
| Non-recurring operating charges | 66A | €25,691 | €0 | -€25,691 | -100.0% |
| Gross operating margin | 9900 | €249,856 | €263,685 | +€13,829 | +5.5% |
| Operating profit (loss) | 9901 | €86,017 | €114,029 | +€28,012 | +32.6% |
| Financial income | 75/76B | €907 | €3,525 | +€2,618 | +288.7% |
| Recurring financial income | 75 | €907 | €3,525 | +€2,618 | +288.7% |
| Financial charges | 65/66B | €28,001 | €19,586 | -€8,415 | -30.1% |
| Recurring financial charges | 65 | €28,001 | €19,586 | -€8,415 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €58,923 | €97,968 | +€39,045 | +66.3% |
| Income taxes | 67/77 | €19,694 | €35,357 | +€15,662 | +79.5% |
| Profit (loss) for the period | 9904 | €39,229 | €62,612 | +€23,383 | +59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €39,229 | €62,612 | +€23,383 | +59.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.