CO PROJECTS: 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.
CO PROJECTS
Largest movements
- Receivables within one year +€56,304
up €56,304 (+135.5%), from €41,566 to €97,870
of which Trade receivables: +€97,870
- Profit (loss) carried forward +€63,440
new in 2025: €63,440
- Debts after one year -€54,895
down €54,895 (-8.0%), from €688,530 to €633,635
- Other debts +€36,829
up €36,829 (+21.7%), from €169,915 to €206,744
- Gross operating margin +€97,520
up €97,520, from -€1,180 to €96,340
- Financial income -€41,566
no longer reported in 2025 (was €41,566)
- Financial charges -€14,614
down €14,614 (-37.0%), from €39,492 to €24,878
- Taxes +€7,333
new in 2025: €7,333
From the 2024 result to the 2025 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
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 | €914,056 | €970,501 | +€56,445 | +6.2% |
| Formation expenses | 20 | €761 | €521 | -€240 | -31.5% |
| Fixed assets | 21/28 | €871,531 | €871,531 | = | 0.0% |
| Financial fixed assets | 28 | €871,531 | €871,531 | = | 0.0% |
| Current assets | 29/58 | €41,764 | €98,449 | +€56,685 | +135.7% |
| Amounts receivable within one year | 40/41 | €41,566 | €97,870 | +€56,304 | +135.5% |
| Trade receivables | 40 | - | €97,870 | +€97,870 | |
| Other amounts receivable | 41 | €41,566 | - | -€41,566 | |
| Cash at bank and in hand | 54/58 | €198 | €579 | +€381 | +192.4% |
| Total equity and liabilities | 10/49 | €914,056 | €970,501 | +€56,445 | +6.2% |
| Equity | 10/15 | €3,000 | €66,440 | +€63,440 | +2114.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €63,440 | +€63,440 | |
| Amounts payable | 17/49 | €911,056 | €904,061 | -€6,995 | -0.8% |
| Amounts payable after more than one year | 17 | €688,530 | €633,635 | -€54,895 | -8.0% |
| Financial debts | 170/4 | €688,530 | €633,635 | -€54,895 | -8.0% |
| Amounts payable within one year | 42/48 | €222,526 | €270,426 | +€47,900 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €52,611 | €54,895 | +€2,284 | +4.3% |
| Trade debts | 44 | - | €1,454 | +€1,454 | |
| Suppliers | 440/4 | - | €1,454 | +€1,454 | |
| Taxes, remuneration and social security | 45 | - | €7,333 | +€7,333 | |
| Taxes | 450/3 | - | €7,333 | +€7,333 | |
| Other amounts payable | 47/48 | €169,915 | €206,744 | +€36,829 | +21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €439 | €240 | -€199 | -45.3% |
| Other operating charges | 640/8 | €455 | €449 | -€6 | -1.3% |
| Gross operating margin | 9900 | -€1,180 | €96,340 | +€97,520 | |
| Operating profit (loss) | 9901 | -€2,074 | €95,651 | +€97,725 | |
| Financial income | 75/76B | €41,566 | - | -€41,566 | |
| Recurring financial income | 75 | €41,566 | - | -€41,566 | |
| Financial charges | 65/66B | €39,492 | €24,878 | -€14,614 | -37.0% |
| Recurring financial charges | 65 | €39,492 | €24,878 | -€14,614 | -37.0% |
| Profit (loss) for the period before taxes | 9903 | - | €70,773 | +€70,773 | |
| Income taxes | 67/77 | - | €7,333 | +€7,333 | |
| Profit (loss) for the period | 9904 | - | €63,440 | +€63,440 | |
| Profit (loss) for the period to be appropriated | 9905 | - | €63,440 | +€63,440 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.