CN-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.
CN-Project
Largest movements
- Receivables within one year +€111,741
up €111,741 (+741.5%), from €15,070 to €126,811
of which Other amounts receivable: +€113,339
- Cash +€37,230
new in 2025: €37,230
mainly Net result for the year (+€145,401) and Trade debts (+€25,905)
- Tangible fixed assets +€26,126
up €26,126 (+309.4%), from €8,444 to €34,571
- Reserves +€100,000
up €100,000 (+22675.7%), from €441 to €100,441
of which Distributable reserves: +€100,000
- Profit (loss) carried forward +€45,401
up €45,401, from -€37,885 to €7,516
- Trade debts +€25,905
up €25,905 (+4083.9%), from €634 to €26,539
- Tax, wage and social debts +€6,674
new in 2025: €6,674
- Other debts -€5,511
down €5,511 (-22.2%), from €24,842 to €19,332
- Gross operating margin +€225,201
up €225,201 (+461.4%), from €48,811 to €274,012
- Staff costs +€109,163
up €109,163 (+610.9%), from €17,870 to €127,033
- Financial income +€9,473
new in 2025: €9,473
of which Non-recurring financial income: +€9,473
- Depreciation +€5,818
up €5,818 (+551.2%), from €1,056 to €6,874
- Other operating charges +€4,083
new in 2025: €4,083
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 | €24,320 | €198,611 | +€174,291 | +716.7% |
| Fixed assets | 21/28 | €8,444 | €34,571 | +€26,126 | +309.4% |
| Tangible fixed assets | 22/27 | €8,444 | €34,571 | +€26,126 | +309.4% |
| Furniture and vehicles | 24 | €8,444 | €34,571 | +€26,126 | +309.4% |
| Current assets | 29/58 | €15,875 | €164,041 | +€148,165 | +933.3% |
| Amounts receivable within one year | 40/41 | €15,070 | €126,811 | +€111,741 | +741.5% |
| Trade receivables | 40 | €12,445 | €10,847 | -€1,598 | -12.8% |
| Other amounts receivable | 41 | €2,625 | €115,964 | +€113,339 | +4317.3% |
| Current investments | 50/53 | €805 | - | -€805 | |
| Cash at bank and in hand | 54/58 | - | €37,230 | +€37,230 | |
| Total equity and liabilities | 10/49 | €24,320 | €198,611 | +€174,291 | +716.7% |
| Equity | 10/15 | -€6,457 | €138,944 | +€145,401 | |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Capital | 10 | €30,987 | - | -€30,987 | |
| Issued capital | 100 | €30,987 | - | -€30,987 | |
| Reserves | 13 | €441 | €100,441 | +€100,000 | +22675.7% |
| Non-distributable reserves | 130/1 | €441 | €441 | = | 0.0% |
| Legal reserve | 130 | €441 | - | -€441 | |
| Reserves not available under the articles | 1311 | - | €441 | +€441 | |
| Distributable reserves | 133 | - | €100,000 | +€100,000 | |
| Profit (loss) carried forward | 14 | -€37,885 | €7,516 | +€45,401 | |
| Amounts payable | 17/49 | €30,777 | €59,667 | +€28,890 | +93.9% |
| Amounts payable within one year | 42/48 | €25,477 | €52,544 | +€27,067 | +106.2% |
| Trade debts | 44 | €634 | €26,539 | +€25,905 | +4083.9% |
| Suppliers | 440/4 | €634 | €26,539 | +€25,905 | +4083.9% |
| Taxes, remuneration and social security | 45 | - | €6,674 | +€6,674 | |
| Remuneration and social security | 454/9 | - | €6,674 | +€6,674 | |
| Other amounts payable | 47/48 | €24,842 | €19,332 | -€5,511 | -22.2% |
| Accrued charges and deferred income | 492/3 | €5,300 | €7,123 | +€1,823 | +34.4% |
| Remuneration, social security and pensions | 62 | €17,870 | €127,033 | +€109,163 | +610.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,056 | €6,874 | +€5,818 | +551.2% |
| Other operating charges | 640/8 | - | €4,083 | +€4,083 | |
| Gross operating margin | 9900 | €48,811 | €274,012 | +€225,201 | +461.4% |
| Operating profit (loss) | 9901 | €29,885 | €136,022 | +€106,137 | +355.1% |
| Financial income | 75/76B | - | €9,473 | +€9,473 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | - | €9,473 | +€9,473 | |
| Financial charges | 65/66B | €19 | €94 | +€76 | +402.9% |
| Recurring financial charges | 65 | €19 | €94 | +€76 | +402.9% |
| Profit (loss) for the period before taxes | 9903 | €29,866 | €145,401 | +€115,535 | +386.8% |
| Profit (loss) for the period | 9904 | €29,866 | €145,401 | +€115,535 | +386.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,866 | €145,401 | +€115,535 | +386.8% |
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 4 October 2026 via checked.be.