DO 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.
DO PROJECTS
Largest movements
- Cash -€59,966
down €59,966 (-73.0%), from €82,199 to €22,234
mainly Investment in fixed assets (net) (-€54,938) and Debts after one year (-€35,618)
- Tangible fixed assets +€14,638
up €14,638 (+1.4%), from €1.1m to €1.1m
of which Plant, machinery and equipment: +€42,184
- Debts after one year -€35,618
down €35,618 (-6.7%), from €531,699 to €496,081
- Financial charges -€19,619
down €19,619 (-67.4%), from €29,126 to €9,507
- Other operating charges +€16,511
up €16,511 (+189.8%), from €8,698 to €25,209
- Gross operating margin +€13,190
up €13,190 (+21.2%), from €62,168 to €75,358
- Depreciation +€6,296
up €6,296 (+18.5%), from €34,004 to €40,300
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 | €1,389,067 | €1,343,722 | -€45,344 | -3.3% |
| Fixed assets | 21/28 | €1,062,226 | €1,076,864 | +€14,638 | +1.4% |
| Tangible fixed assets | 22/27 | €1,062,226 | €1,076,864 | +€14,638 | +1.4% |
| Land and buildings | 22 | €1,034,727 | €1,007,182 | -€27,545 | -2.7% |
| Plant, machinery and equipment | 23 | €27,499 | €69,683 | +€42,184 | +153.4% |
| Current assets | 29/58 | €326,841 | €266,858 | -€59,983 | -18.4% |
| Stocks and contracts in progress | 3 | €240,000 | €240,000 | = | 0.0% |
| Stocks | 30/36 | €240,000 | €240,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,054 | €3,900 | -€154 | -3.8% |
| Trade receivables | 40 | €4,054 | €2,566 | -€1,488 | -36.7% |
| Other amounts receivable | 41 | - | €1,334 | +€1,334 | |
| Cash at bank and in hand | 54/58 | €82,199 | €22,234 | -€59,966 | -73.0% |
| Deferred charges and accrued income | 490/1 | €587 | €724 | +€137 | +23.4% |
| Total equity and liabilities | 10/49 | €1,389,067 | €1,343,722 | -€45,344 | -3.3% |
| Equity | 10/15 | €318,902 | €320,061 | +€1,160 | +0.4% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | - | -€500,000 | |
| Issued capital | 100 | €500,000 | - | -€500,000 | |
| Profit (loss) carried forward | 14 | -€181,098 | -€179,939 | +€1,160 | +0.6% |
| Amounts payable | 17/49 | €1,070,165 | €1,023,661 | -€46,504 | -4.3% |
| Amounts payable after more than one year | 17 | €531,699 | €496,081 | -€35,618 | -6.7% |
| Financial debts | 170/4 | €531,699 | €496,081 | -€35,618 | -6.7% |
| Amounts payable within one year | 42/48 | €536,877 | €527,580 | -€9,297 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €35,060 | €35,618 | +€558 | +1.6% |
| Trade debts | 44 | €3,591 | - | -€3,591 | |
| Suppliers | 440/4 | €3,591 | - | -€3,591 | |
| Advances received on contracts in progress | 46 | €1,840 | €1,840 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €6,263 | - | -€6,263 | |
| Taxes | 450/3 | €6,263 | - | -€6,263 | |
| Other amounts payable | 47/48 | €490,122 | €490,122 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,590 | - | -€1,590 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,004 | €40,300 | +€6,296 | +18.5% |
| Other operating charges | 640/8 | €8,698 | €25,209 | +€16,511 | +189.8% |
| Gross operating margin | 9900 | €62,168 | €75,358 | +€13,190 | +21.2% |
| Operating profit (loss) | 9901 | €19,467 | €9,850 | -€9,617 | -49.4% |
| Financial income | 75/76B | €774 | €817 | +€43 | +5.6% |
| Recurring financial income | 75 | €774 | €817 | +€43 | +5.6% |
| Financial charges | 65/66B | €29,126 | €9,507 | -€19,619 | -67.4% |
| Recurring financial charges | 65 | €29,126 | €9,507 | -€19,619 | -67.4% |
| Profit (loss) for the period before taxes | 9903 | -€8,886 | €1,160 | +€10,045 | |
| Income taxes | 67/77 | €232 | - | -€232 | |
| Profit (loss) for the period | 9904 | -€9,118 | €1,160 | +€10,277 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,118 | €1,160 | +€10,277 |
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 3 October 2026 via checked.be.