E-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.
E-PROJECT
Largest movements
- Current investments +€450,000
new in 2025: €450,000
- Tangible fixed assets -€97,093
down €97,093 (-4.2%), from €2.3m to €2.2m
of which Land and buildings: -€137,522
- Contributions +€310,000
up €310,000 (+1550.0%), from €20,000 to €330,000
- Debts after one year +€263,520
up €263,520 (+13.3%), from €2.0m to €2.3m
of which Financial debts: +€2.3m
- Reserves -€232,447
down €232,447 (-75.2%), from €309,274 to €76,827
of which Distributable reserves: -€230,097
- Depreciation +€27,217
up €27,217 (+21.4%), from €126,948 to €154,165
- Gross operating margin +€16,283
up €16,283 (+7.5%), from €217,406 to €233,689
- Financial income +€6,842
new in 2025: €6,842
of which Financial income: +€6,842
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 | €2,356,781 | €2,691,124 | +€334,343 | +14.2% |
| Fixed assets | 21/28 | €2,332,001 | €2,234,908 | -€97,093 | -4.2% |
| Tangible fixed assets | 22/27 | €2,332,001 | €2,234,908 | -€97,093 | -4.2% |
| Land and buildings | 22 | €2,274,296 | €2,136,774 | -€137,522 | -6.0% |
| Plant, machinery and equipment | 23 | €9,318 | €5,971 | -€3,347 | -35.9% |
| Furniture and vehicles | 24 | €48,387 | €92,163 | +€43,776 | +90.5% |
| Current assets | 29/58 | €24,780 | €456,216 | +€431,436 | +1741.1% |
| Amounts receivable within one year | 40/41 | €9,189 | €950 | -€8,239 | -89.7% |
| Trade receivables | 40 | €9,189 | €950 | -€8,239 | -89.7% |
| Current investments | 50/53 | - | €450,000 | +€450,000 | |
| Cash at bank and in hand | 54/58 | €15,591 | €5,266 | -€10,325 | -66.2% |
| Total equity and liabilities | 10/49 | €2,356,781 | €2,691,124 | +€334,343 | +14.2% |
| Equity | 10/15 | €329,274 | €406,827 | +€77,553 | +23.6% |
| Contributions | 10/11 | €20,000 | €330,000 | +€310,000 | +1550.0% |
| Capital | 10 | €20,000 | - | -€20,000 | |
| Issued capital | 100 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €309,274 | €76,827 | -€232,447 | -75.2% |
| Non-distributable reserves | 130/1 | €2,350 | - | -€2,350 | |
| Legal reserve | 130 | €2,350 | - | -€2,350 | |
| Distributable reserves | 133 | €306,924 | €76,827 | -€230,097 | -75.0% |
| Amounts payable | 17/49 | €2,027,507 | €2,284,297 | +€256,790 | +12.7% |
| Amounts payable after more than one year | 17 | €1,986,480 | €2,250,000 | +€263,520 | +13.3% |
| Financial debts | 170/4 | - | €2,250,000 | +€2.3m | |
| Other amounts payable | 178/9 | €1,986,480 | - | -€2.0m | |
| Amounts payable within one year | 42/48 | €41,027 | €34,297 | -€6,730 | -16.4% |
| Trade debts | 44 | €25,318 | €20,890 | -€4,428 | -17.5% |
| Suppliers | 440/4 | €25,318 | €20,890 | -€4,428 | -17.5% |
| Taxes, remuneration and social security | 45 | €15,709 | €13,407 | -€2,302 | -14.7% |
| Taxes | 450/3 | €15,709 | €13,407 | -€2,302 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,948 | €154,165 | +€27,217 | +21.4% |
| Other operating charges | 640/8 | €7,229 | €7,486 | +€257 | +3.6% |
| Gross operating margin | 9900 | €217,406 | €233,689 | +€16,283 | +7.5% |
| Operating profit (loss) | 9901 | €83,229 | €72,038 | -€11,191 | -13.4% |
| Financial income | 75/76B | - | €6,842 | +€6,842 | |
| Recurring financial income | 75 | - | €6,842 | +€6,842 | |
| Non-recurring financial income | 76B | - | €6,842 | +€6,842 | |
| Profit (loss) for the period before taxes | 9903 | €83,229 | €78,880 | -€4,349 | -5.2% |
| Income taxes | 67/77 | - | €2,053 | +€2,053 | |
| Profit (loss) for the period | 9904 | €83,229 | €76,827 | -€6,402 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €83,229 | €76,827 | -€6,402 | -7.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.