E&M 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.
E&M PROJECTS
Largest movements
- Financial fixed assets -€1.7m
down €1.7m (-100.0%), from €1.7m to €0
- Stocks and contracts +€621,169
new in 2025: €621,169
- Receivables within one year -€297,834
down €297,834 (-100.0%), from €297,878 to €44
- Profit (loss) carried forward -€1.2m
new in 2025: -€1.2m
- Reserves -€220,139
down €220,139 (-100.0%), from €220,139 to €0
- Financial charges +€1.4m
up €1.4m (+939590.6%), from €149 to €1.4m
- Gross operating margin +€2,326
up €2,326 (+21.9%), from -€10,620 to -€8,294
- Other operating charges -€1,028
down €1,028 (-47.4%), from €2,170 to €1,143
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 | €2,030,947 | €621,312 | -€1.4m | -69.4% |
| Fixed assets | 21/28 | €1,733,000 | €0 | -€1.7m | -100.0% |
| Financial fixed assets | 28 | €1,733,000 | €0 | -€1.7m | -100.0% |
| Current assets | 29/58 | €297,947 | €621,312 | +€323,365 | +108.5% |
| Stocks and contracts in progress | 3 | - | €621,169 | +€621,169 | |
| Stocks | 30/36 | - | €621,169 | +€621,169 | |
| Amounts receivable within one year | 40/41 | €297,878 | €44 | -€297,834 | -100.0% |
| Other amounts receivable | 41 | €297,878 | €44 | -€297,834 | -100.0% |
| Cash at bank and in hand | 54/58 | €69 | €99 | +€30 | +43.4% |
| Total equity and liabilities | 10/49 | €2,030,947 | €621,312 | -€1.4m | -69.4% |
| Equity | 10/15 | €1,996,139 | €585,812 | -€1.4m | -70.7% |
| Contributions | 10/11 | €1,776,000 | €1,776,000 | = | 0.0% |
| Reserves | 13 | €220,139 | €0 | -€220,139 | -100.0% |
| Distributable reserves | 133 | €220,139 | €0 | -€220,139 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€1,190,188 | -€1.2m | |
| Amounts payable | 17/49 | €34,808 | €35,501 | +€693 | +2.0% |
| Amounts payable within one year | 42/48 | €34,808 | €35,501 | +€693 | +2.0% |
| Trade debts | 44 | €646 | €339 | -€308 | -47.6% |
| Suppliers | 440/4 | €646 | €339 | -€308 | -47.6% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €34,162 | €35,162 | +€1,000 | +2.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Other operating charges | 640/8 | €2,170 | €1,143 | -€1,028 | -47.4% |
| Gross operating margin | 9900 | -€10,620 | -€8,294 | +€2,326 | +21.9% |
| Operating profit (loss) | 9901 | -€12,790 | -€9,436 | +€3,354 | +26.2% |
| Financial charges | 65/66B | €149 | €1,400,891 | +€1.4m | +939590.6% |
| Recurring financial charges | 65 | €149 | €1,400,891 | +€1.4m | +939590.6% |
| Profit (loss) for the period before taxes | 9903 | -€12,939 | -€1,410,327 | -€1.4m | -10799.6% |
| Income taxes | 67/77 | €86 | €0 | -€86 | -100.0% |
| Profit (loss) for the period | 9904 | -€13,025 | -€1,410,327 | -€1.4m | -10727.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,025 | -€1,410,327 | -€1.4m | -10727.6% |
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 9 October 2026 via checked.be.