EAGLE 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.
EAGLE PROJECTS
Largest movements
- Current investments +€70,626
up €70,626 (+91.0%), from €77,637 to €148,262
- Tangible fixed assets -€8,033
down €8,033 (-5.1%), from €157,182 to €149,149
of which Land and buildings: -€6,236
- Cash -€7,637
down €7,637 (-14.8%), from €51,491 to €43,854
mainly Current investments (-€70,626) and Debts after one year (-€19,632)
- Reserves +€59,255
up €59,255 (+51.2%), from €115,826 to €175,081
- Debts after one year -€19,632
down €19,632 (-38.4%), from €51,176 to €31,544
- Tax, wage and social debts +€13,347
up €13,347 (+88.4%), from €15,107 to €28,454
- Gross operating margin +€29,433
up €29,433 (+40.3%), from €73,062 to €102,495
- Taxes +€9,444
up €9,444 (+60.7%), from €15,566 to €25,010
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 | €312,177 | €367,540 | +€55,363 | +17.7% |
| Fixed assets | 21/28 | €158,182 | €150,149 | -€8,033 | -5.1% |
| Tangible fixed assets | 22/27 | €157,182 | €149,149 | -€8,033 | -5.1% |
| Land and buildings | 22 | €152,791 | €146,555 | -€6,236 | -4.1% |
| Plant, machinery and equipment | 23 | €1,490 | €1,151 | -€340 | -22.8% |
| Furniture and vehicles | 24 | €2,900 | €1,443 | -€1,457 | -50.2% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €153,995 | €217,391 | +€63,396 | +41.2% |
| Amounts receivable within one year | 40/41 | €20,427 | €22,013 | +€1,585 | +7.8% |
| Trade receivables | 40 | €20,427 | €21,742 | +€1,315 | +6.4% |
| Other amounts receivable | 41 | - | €271 | +€271 | |
| Current investments | 50/53 | €77,637 | €148,262 | +€70,626 | +91.0% |
| Cash at bank and in hand | 54/58 | €51,491 | €43,854 | -€7,637 | -14.8% |
| Deferred charges and accrued income | 490/1 | €4,441 | €3,262 | -€1,179 | -26.5% |
| Total equity and liabilities | 10/49 | €312,177 | €367,540 | +€55,363 | +17.7% |
| Equity | 10/15 | €134,426 | €193,681 | +€59,255 | +44.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €115,826 | €175,081 | +€59,255 | +51.2% |
| Distributable reserves | 133 | €115,826 | €175,081 | +€59,255 | +51.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €177,752 | €173,859 | -€3,892 | -2.2% |
| Amounts payable after more than one year | 17 | €51,176 | €31,544 | -€19,632 | -38.4% |
| Financial debts | 170/4 | €51,176 | €31,544 | -€19,632 | -38.4% |
| Amounts payable within one year | 42/48 | €126,576 | €142,315 | +€15,739 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €19,409 | €19,632 | +€222 | +1.1% |
| Financial debts | 43 | €3,029 | €4,175 | +€1,146 | +37.8% |
| Other loans | 439 | €3,029 | €4,175 | +€1,146 | +37.8% |
| Trade debts | 44 | €1,868 | €1,294 | -€575 | -30.8% |
| Suppliers | 440/4 | €1,868 | €1,294 | -€575 | -30.8% |
| Taxes, remuneration and social security | 45 | €15,107 | €28,454 | +€13,347 | +88.4% |
| Taxes | 450/3 | €15,107 | €28,454 | +€13,347 | +88.4% |
| Other amounts payable | 47/48 | €87,163 | €88,761 | +€1,598 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,902 | €8,033 | +€131 | +1.7% |
| Other operating charges | 640/8 | €2,259 | €2,768 | +€508 | +22.5% |
| Non-recurring operating charges | 66A | €2,619 | €0 | -€2,619 | -100.0% |
| Gross operating margin | 9900 | €73,062 | €102,495 | +€29,433 | +40.3% |
| Operating profit (loss) | 9901 | €60,282 | €91,695 | +€31,413 | +52.1% |
| Financial income | 75/76B | €679 | €1,004 | +€325 | +47.8% |
| Recurring financial income | 75 | €679 | €1,004 | +€325 | +47.8% |
| Financial charges | 65/66B | €8,219 | €8,434 | +€215 | +2.6% |
| Recurring financial charges | 65 | €8,219 | €8,434 | +€215 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €52,742 | €84,265 | +€31,523 | +59.8% |
| Income taxes | 67/77 | €15,566 | €25,010 | +€9,444 | +60.7% |
| Profit (loss) for the period | 9904 | €37,176 | €59,255 | +€22,079 | +59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €37,176 | €59,255 | +€22,079 | +59.4% |
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 12 October 2026 via checked.be.