ED PROJECT: 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.
ED PROJECT
Largest movements
- Receivables after one year +€100,000
new in 2024: €100,000
- Cash -€59,538
down €59,538 (-50.5%), from €117,943 to €58,405
mainly Receivables after one year (-€100,000) and Tax, wage and social debts (-€23,566)
- Receivables within one year -€29,148
down €29,148 (-29.4%), from €99,045 to €69,896
of which Other amounts receivable: -€35,647
- Profit (loss) carried forward +€35,416
up €35,416 (+20.6%), from €171,556 to €206,972
- Tax, wage and social debts -€23,566
down €23,566 (-55.0%), from €42,863 to €19,297
- Gross operating margin -€185,308
down €185,308 (-79.9%), from €231,824 to €46,516
- Taxes -€45,687
down €45,687 (-79.5%), from €57,492 to €11,805
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €216,987 | €228,769 | +€11,782 | +5.4% |
| Current assets | 29/58 | €216,987 | €228,769 | +€11,782 | +5.4% |
| Amounts receivable after more than one year | 29 | - | €100,000 | +€100,000 | |
| Other amounts receivable | 291 | - | €100,000 | +€100,000 | |
| Amounts receivable within one year | 40/41 | €99,045 | €69,896 | -€29,148 | -29.4% |
| Trade receivables | 40 | €6,050 | €12,549 | +€6,499 | +107.4% |
| Other amounts receivable | 41 | €92,995 | €57,347 | -€35,647 | -38.3% |
| Cash at bank and in hand | 54/58 | €117,943 | €58,405 | -€59,538 | -50.5% |
| Deferred charges and accrued income | 490/1 | - | €468 | +€468 | |
| Total equity and liabilities | 10/49 | €216,987 | €228,769 | +€11,782 | +5.4% |
| Equity | 10/15 | €174,056 | €209,472 | +€35,416 | +20.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €171,556 | €206,972 | +€35,416 | +20.6% |
| Amounts payable | 17/49 | €42,931 | €19,297 | -€23,634 | -55.1% |
| Amounts payable within one year | 42/48 | €42,931 | €19,297 | -€23,634 | -55.1% |
| Trade debts | 44 | €68 | - | -€68 | |
| Suppliers | 440/4 | €68 | - | -€68 | |
| Taxes, remuneration and social security | 45 | €42,863 | €19,297 | -€23,566 | -55.0% |
| Taxes | 450/3 | €42,863 | €19,297 | -€23,566 | -55.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,092 | - | -€2,092 | |
| Other operating charges | 640/8 | €920 | €84 | -€836 | -90.9% |
| Gross operating margin | 9900 | €231,824 | €46,516 | -€185,308 | -79.9% |
| Operating profit (loss) | 9901 | €228,812 | €46,432 | -€182,381 | -79.7% |
| Financial income | 75/76B | €391 | €942 | +€552 | +141.3% |
| Recurring financial income | 75 | €391 | €942 | +€552 | +141.3% |
| Financial charges | 65/66B | €155 | €153 | -€2 | -1.0% |
| Recurring financial charges | 65 | €155 | €153 | -€2 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €229,048 | €47,221 | -€181,827 | -79.4% |
| Income taxes | 67/77 | €57,492 | €11,805 | -€45,687 | -79.5% |
| Profit (loss) for the period | 9904 | €171,556 | €35,416 | -€136,140 | -79.4% |
| Profit (loss) for the period to be appropriated | 9905 | €171,556 | €35,416 | -€136,140 | -79.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.