C-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-PROJECTS
Largest movements
- Receivables within one year -€15,772
down €15,772 (-65.0%), from €24,269 to €8,497
of which Trade receivables: -€16,023
- Cash -€4,415
down €4,415 (-13.6%), from €32,561 to €28,145
mainly Other debts (-€12,820) and Tax, wage and social debts (-€10,953)
- Receivables after one year -€3,000
down €3,000 (-13.8%), from €21,750 to €18,750
- Tangible fixed assets -€1,451
down €1,451 (-3.2%), from €44,736 to €43,284
of which Leasing and similar rights: -€9,252
- Other debts -€12,820
down €12,820 (-70.0%), from €18,322 to €5,502
- Tax, wage and social debts -€10,953
down €10,953 (-62.2%), from €17,606 to €6,653
of which Taxes: -€11,069
- Reserves +€7,467
up €7,467 (+15.0%), from €49,671 to €57,138
- Debts after one year -€7,404
down €7,404 (-26.5%), from €27,959 to €20,555
- Gross operating margin -€49,250
down €49,250 (-67.2%), from €73,312 to €24,061
- Taxes -€10,524
down €10,524 (-81.0%), from €12,985 to €2,461
- Depreciation +€4,159
up €4,159 (+56.5%), from €7,361 to €11,520
- Other operating charges -€1,040
down €1,040 (-49.5%), from €2,101 to €1,062
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 | €125,306 | €101,527 | -€23,779 | -19.0% |
| Fixed assets | 21/28 | €45,583 | €44,031 | -€1,551 | -3.4% |
| Intangible fixed assets | 21 | €847 | €747 | -€100 | -11.8% |
| Tangible fixed assets | 22/27 | €44,736 | €43,284 | -€1,451 | -3.2% |
| Plant, machinery and equipment | 23 | €753 | €2,141 | +€1,388 | +184.4% |
| Furniture and vehicles | 24 | €3,191 | €9,603 | +€6,412 | +201.0% |
| Leasing and similar rights | 25 | €40,792 | €31,540 | -€9,252 | -22.7% |
| Current assets | 29/58 | €79,724 | €57,496 | -€22,228 | -27.9% |
| Amounts receivable after more than one year | 29 | €21,750 | €18,750 | -€3,000 | -13.8% |
| Trade receivables | 290 | €21,750 | €18,750 | -€3,000 | -13.8% |
| Amounts receivable within one year | 40/41 | €24,269 | €8,497 | -€15,772 | -65.0% |
| Trade receivables | 40 | €23,305 | €7,282 | -€16,023 | -68.8% |
| Other amounts receivable | 41 | €964 | €1,215 | +€252 | +26.1% |
| Cash at bank and in hand | 54/58 | €32,561 | €28,145 | -€4,415 | -13.6% |
| Deferred charges and accrued income | 490/1 | €1,144 | €2,104 | +€960 | +83.9% |
| Total equity and liabilities | 10/49 | €125,306 | €101,527 | -€23,779 | -19.0% |
| Equity | 10/15 | €52,671 | €60,138 | +€7,467 | +14.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €49,671 | €57,138 | +€7,467 | +15.0% |
| Distributable reserves | 133 | €49,671 | €57,138 | +€7,467 | +15.0% |
| Amounts payable | 17/49 | €72,635 | €41,389 | -€31,246 | -43.0% |
| Amounts payable after more than one year | 17 | €27,959 | €20,555 | -€7,404 | -26.5% |
| Financial debts | 170/4 | €27,959 | €20,555 | -€7,404 | -26.5% |
| Amounts payable within one year | 42/48 | €44,676 | €20,835 | -€23,842 | -53.4% |
| Current portion of amounts payable after more than one year | 42 | €7,096 | €7,404 | +€308 | +4.3% |
| Trade debts | 44 | €1,652 | €1,276 | -€376 | -22.7% |
| Suppliers | 440/4 | €1,652 | €1,276 | -€376 | -22.7% |
| Taxes, remuneration and social security | 45 | €17,606 | €6,653 | -€10,953 | -62.2% |
| Taxes | 450/3 | €15,180 | €4,111 | -€11,069 | -72.9% |
| Remuneration and social security | 454/9 | €2,426 | €2,542 | +€116 | +4.8% |
| Other amounts payable | 47/48 | €18,322 | €5,502 | -€12,820 | -70.0% |
| Non-recurring operating income | 76A | €5,248 | €0 | -€5,248 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,361 | €11,520 | +€4,159 | +56.5% |
| Other operating charges | 640/8 | €2,101 | €1,062 | -€1,040 | -49.5% |
| Gross operating margin | 9900 | €73,312 | €24,061 | -€49,250 | -67.2% |
| Operating profit (loss) | 9901 | €63,850 | €11,480 | -€52,369 | -82.0% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €1,193 | €1,553 | +€360 | +30.1% |
| Recurring financial charges | 65 | €1,193 | €1,553 | +€360 | +30.1% |
| Profit (loss) for the period before taxes | 9903 | €62,656 | €9,927 | -€52,729 | -84.2% |
| Income taxes | 67/77 | €12,985 | €2,461 | -€10,524 | -81.0% |
| Profit (loss) for the period | 9904 | €49,671 | €7,467 | -€42,205 | -85.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,671 | €7,467 | -€42,205 | -85.0% |
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 30 September 2026 via checked.be.