CT PROJECT: 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.
CT PROJECT
Largest movements
- Cash +€24,635
up €24,635 (+214.7%), from €11,476 to €36,112
mainly Depreciation (+€33,627) and Net result for the year (+€19,311)
- Tangible fixed assets +€16,606
up €16,606 (+21.4%), from €77,689 to €94,295
of which Furniture and vehicles: +€9,569
- Receivables within one year -€9,864
down €9,864 (-33.9%), from €29,099 to €19,235
of which Trade receivables: -€9,396
- Deferred charges and accrued income +€4,672
up €4,672 (+355.1%), from €1,316 to €5,988
- Reserves +€19,311
up €19,311 (+81.2%), from €23,791 to €43,102
- Other debts -€16,168
down €16,168 (-92.1%), from €17,562 to €1,394
- Debts after one year +€13,745
up €13,745 (+33.6%), from €40,926 to €54,671
- Current portion of long-term debt +€11,616
up €11,616 (+51.2%), from €22,704 to €34,320
- Tax, wage and social debts +€3,903
up €3,903 (+44.3%), from €8,809 to €12,711
- Gross operating margin +€17,460
up €17,460 (+31.0%), from €56,250 to €73,711
- Depreciation +€4,349
up €4,349 (+14.9%), from €29,279 to €33,627
- Financial charges +€1,431
up €1,431 (+57.9%), from €2,470 to €3,901
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 | €119,831 | €155,630 | +€35,800 | +29.9% |
| Fixed assets | 21/28 | €77,689 | €94,295 | +€16,606 | +21.4% |
| Tangible fixed assets | 22/27 | €77,689 | €94,295 | +€16,606 | +21.4% |
| Plant, machinery and equipment | 23 | €9,055 | €16,092 | +€7,037 | +77.7% |
| Furniture and vehicles | 24 | €68,634 | €78,203 | +€9,569 | +13.9% |
| Current assets | 29/58 | €42,141 | €61,335 | +€19,194 | +45.5% |
| Amounts receivable after more than one year | 29 | €250 | €0 | -€250 | -100.0% |
| Other amounts receivable | 291 | €250 | €0 | -€250 | -100.0% |
| Amounts receivable within one year | 40/41 | €29,099 | €19,235 | -€9,864 | -33.9% |
| Trade receivables | 40 | €28,026 | €18,630 | -€9,396 | -33.5% |
| Other amounts receivable | 41 | €1,073 | €606 | -€468 | -43.6% |
| Cash at bank and in hand | 54/58 | €11,476 | €36,112 | +€24,635 | +214.7% |
| Deferred charges and accrued income | 490/1 | €1,316 | €5,988 | +€4,672 | +355.1% |
| Total equity and liabilities | 10/49 | €119,831 | €155,630 | +€35,800 | +29.9% |
| Equity | 10/15 | €28,791 | €48,102 | +€19,311 | +67.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €23,791 | €43,102 | +€19,311 | +81.2% |
| Distributable reserves | 133 | €23,791 | €43,102 | +€19,311 | +81.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €91,040 | €107,528 | +€16,489 | +18.1% |
| Amounts payable after more than one year | 17 | €40,926 | €54,671 | +€13,745 | +33.6% |
| Financial debts | 170/4 | €40,926 | €54,671 | +€13,745 | +33.6% |
| Amounts payable within one year | 42/48 | €50,114 | €52,681 | +€2,567 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €22,704 | €34,320 | +€11,616 | +51.2% |
| Trade debts | 44 | €1,039 | €4,255 | +€3,216 | +309.7% |
| Suppliers | 440/4 | €1,039 | €4,255 | +€3,216 | +309.7% |
| Taxes, remuneration and social security | 45 | €8,809 | €12,711 | +€3,903 | +44.3% |
| Taxes | 450/3 | €8,809 | €12,711 | +€3,903 | +44.3% |
| Other amounts payable | 47/48 | €17,562 | €1,394 | -€16,168 | -92.1% |
| Accrued charges and deferred income | 492/3 | - | €176 | +€176 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,279 | €33,627 | +€4,349 | +14.9% |
| Other operating charges | 640/8 | €1,114 | €940 | -€174 | -15.6% |
| Non-recurring operating charges | 66A | - | €9,734 | +€9,734 | |
| Gross operating margin | 9900 | €56,250 | €73,711 | +€17,460 | +31.0% |
| Operating profit (loss) | 9901 | €25,858 | €29,410 | +€3,552 | +13.7% |
| Financial income | 75/76B | €570 | €57 | -€513 | -90.0% |
| Recurring financial income | 75 | €570 | €57 | -€513 | -90.0% |
| Financial charges | 65/66B | €2,470 | €3,901 | +€1,431 | +57.9% |
| Recurring financial charges | 65 | €2,470 | €3,901 | +€1,431 | +57.9% |
| Profit (loss) for the period before taxes | 9903 | €23,959 | €25,566 | +€1,607 | +6.7% |
| Income taxes | 67/77 | €6,397 | €6,255 | -€142 | -2.2% |
| Profit (loss) for the period | 9904 | €17,562 | €19,311 | +€1,749 | +10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,562 | €19,311 | +€1,749 | +10.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.