ED 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.
ED Projects
Largest movements
- Cash +€28,866
up €28,866 (+1,085%), from €2,661 to €31,527
mainly Net result for the year (+€17,266) and Receivables within one year (+€7,567)
- Receivables within one year -€7,567
down €7,567 (-51.2%), from €14,784 to €7,217
of which Other amounts receivable: -€7,118
- Reserves +€17,266
up €17,266 (+155%), from €11,108 to €28,374
- Other debts +€1,856
up €1,856 (+159%), from €1,166 to €3,022
- Trade debts +€1,306
up €1,306 (+98.0%), from €1,333 to €2,638
- Tax, wage and social debts +€736
up €736 (+18.1%), from €4,070 to €4,806
- Gross operating margin +€7,443
up €7,443 (+43.1%), from €17,284 to €24,728
- Taxes +€1,236
up €1,236 (+34.6%), from €3,570 to €4,806
- Financial charges +€1,176
up €1,176 (+148%), from €795 to €1,971
- Depreciation +€359
up €359 (+730%), from €49 to €408
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.
Derived cash bridge
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 | €20,676 | €41,839 | +€21,163 | +102% |
| Fixed assets | 21/28 | €1,990 | €1,582 | -€408 | -20.5% |
| Tangible fixed assets | 22/27 | €1,990 | €1,582 | -€408 | -20.5% |
| Plant, machinery and equipment | 23 | €1,990 | €1,582 | -€408 | -20.5% |
| Current assets | 29/58 | €18,687 | €40,257 | +€21,570 | +115% |
| Amounts receivable within one year | 40/41 | €14,784 | €7,217 | -€7,567 | -51.2% |
| Trade receivables | 40 | €4,000 | €3,551 | -€449 | -11.2% |
| Other amounts receivable | 41 | €10,784 | €3,666 | -€7,118 | -66.0% |
| Cash at bank and in hand | 54/58 | €2,661 | €31,527 | +€28,866 | +1,085% |
| Deferred charges and accrued income | 490/1 | €1,242 | €1,513 | +€271 | +21.8% |
| Total equity and liabilities | 10/49 | €20,676 | €41,839 | +€21,163 | +102% |
| Equity | 10/15 | €14,108 | €31,374 | +€17,266 | +122% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €11,108 | €28,374 | +€17,266 | +155% |
| Distributable reserves | 133 | €11,108 | €28,374 | +€17,266 | +155% |
| Amounts payable | 17/49 | €6,569 | €10,466 | +€3,897 | +59.3% |
| Amounts payable within one year | 42/48 | €6,569 | €10,466 | +€3,897 | +59.3% |
| Trade debts | 44 | €1,333 | €2,638 | +€1,306 | +98.0% |
| Suppliers | 440/4 | €1,333 | €2,638 | +€1,306 | +98.0% |
| Taxes, remuneration and social security | 45 | €4,070 | €4,806 | +€736 | +18.1% |
| Taxes | 450/3 | €4,070 | €4,806 | +€736 | +18.1% |
| Other amounts payable | 47/48 | €1,166 | €3,022 | +€1,856 | +159% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49 | €408 | +€359 | +730% |
| Other operating charges | 640/8 | €139 | €306 | +€167 | +120% |
| Gross operating margin | 9900 | €17,284 | €24,728 | +€7,443 | +43.1% |
| Operating profit (loss) | 9901 | €17,096 | €24,014 | +€6,918 | +40.5% |
| Financial income | 75/76B | €43 | €28 | -€15 | -34.5% |
| Recurring financial income | 75 | €43 | €28 | -€15 | -34.5% |
| Financial charges | 65/66B | €795 | €1,971 | +€1,176 | +148% |
| Recurring financial charges | 65 | €795 | €1,971 | +€1,176 | +148% |
| Profit (loss) for the period before taxes | 9903 | €16,344 | €22,071 | +€5,727 | +35.0% |
| Income taxes | 67/77 | €3,570 | €4,806 | +€1,236 | +34.6% |
| Profit (loss) for the period | 9904 | €12,774 | €17,266 | +€4,492 | +35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,774 | €17,266 | +€4,492 | +35.2% |
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 13 October 2026 via checked.be.