F en G 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.
F en G PROJECTS
Largest movements
- Receivables after one year +€85,000
up €85,000 (+340%), from €25,000 to €110,000
- Tangible fixed assets +€52,247
up €52,247 (+81.3%), from €64,262 to €116,509
of which Furniture and vehicles: +€55,780
- Cash -€39,139
down €39,139 (-40.6%), from €96,372 to €57,233
mainly Receivables after one year (-€85,000) and Investment in fixed assets (net) (-€70,031)
- Deferred charges and accrued income +€3,245
up €3,245 (+191%), from €1,703 to €4,949
- Reserves +€57,721
up €57,721 (+139%), from €41,435 to €99,156
- Tax, wage and social debts +€33,410
up €33,410 (+178%), from €18,808 to €52,217
of which Taxes: +€24,748
- Other debts +€13,007
new in 2025: €13,007
- Debts after one year -€8,713
down €8,713 (-37.5%), from €23,223 to €14,510
- Trade debts +€3,581
up €3,581 (+338%), from €1,061 to €4,642
- Gross operating margin +€57,330
up €57,330 (+54.7%), from €104,837 to €162,167
- Taxes +€25,759
up €25,759 (+630%), from €4,088 to €29,848
- Staff costs +€8,338
up €8,338 (+17.5%), from €47,565 to €55,903
- Depreciation +€6,893
up €6,893 (+63.3%), from €10,890 to €17,783
- Financial income +€1,668
up €1,668 (+291%), from €574 to €2,242
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 | €208,041 | €307,401 | +€99,360 | +47.8% |
| Fixed assets | 21/28 | €64,262 | €116,509 | +€52,247 | +81.3% |
| Tangible fixed assets | 22/27 | €64,262 | €116,509 | +€52,247 | +81.3% |
| Plant, machinery and equipment | 23 | €10,353 | €6,820 | -€3,533 | -34.1% |
| Furniture and vehicles | 24 | €49,709 | €105,489 | +€55,780 | +112% |
| Other tangible fixed assets | 26 | €4,200 | €4,200 | = | 0.0% |
| Current assets | 29/58 | €143,779 | €190,891 | +€47,112 | +32.8% |
| Amounts receivable after more than one year | 29 | €25,000 | €110,000 | +€85,000 | +340% |
| Other amounts receivable | 291 | €25,000 | €110,000 | +€85,000 | +340% |
| Amounts receivable within one year | 40/41 | €20,704 | €18,710 | -€1,994 | -9.6% |
| Trade receivables | 40 | €19,020 | €18,167 | -€852 | -4.5% |
| Other amounts receivable | 41 | €1,684 | €542 | -€1,142 | -67.8% |
| Cash at bank and in hand | 54/58 | €96,372 | €57,233 | -€39,139 | -40.6% |
| Deferred charges and accrued income | 490/1 | €1,703 | €4,949 | +€3,245 | +191% |
| Total equity and liabilities | 10/49 | €208,041 | €307,401 | +€99,360 | +47.8% |
| Equity | 10/15 | €156,569 | €214,290 | +€57,721 | +36.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €41,435 | €99,156 | +€57,721 | +139% |
| Distributable reserves | 133 | €41,435 | €99,156 | +€57,721 | +139% |
| Profit (loss) carried forward | 14 | €96,534 | €96,534 | = | 0.0% |
| Amounts payable | 17/49 | €51,472 | €93,110 | +€41,638 | +80.9% |
| Amounts payable after more than one year | 17 | €23,223 | €14,510 | -€8,713 | -37.5% |
| Financial debts | 170/4 | €23,223 | €14,510 | -€8,713 | -37.5% |
| Amounts payable within one year | 42/48 | €28,249 | €78,579 | +€50,330 | +178% |
| Current portion of amounts payable after more than one year | 42 | €8,380 | €8,713 | +€333 | +4.0% |
| Trade debts | 44 | €1,061 | €4,642 | +€3,581 | +338% |
| Suppliers | 440/4 | €1,061 | €4,642 | +€3,581 | +338% |
| Taxes, remuneration and social security | 45 | €18,808 | €52,217 | +€33,410 | +178% |
| Taxes | 450/3 | €12,795 | €37,543 | +€24,748 | +193% |
| Remuneration and social security | 454/9 | €6,013 | €14,674 | +€8,661 | +144% |
| Other amounts payable | 47/48 | - | €13,007 | +€13,007 | |
| Accrued charges and deferred income | 492/3 | - | €21 | +€21 | |
| Remuneration, social security and pensions | 62 | €47,565 | €55,903 | +€8,338 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,890 | €17,783 | +€6,893 | +63.3% |
| Other operating charges | 640/8 | €1,651 | €1,760 | +€109 | +6.6% |
| Gross operating margin | 9900 | €104,837 | €162,167 | +€57,330 | +54.7% |
| Operating profit (loss) | 9901 | €44,730 | €86,721 | +€41,991 | +93.9% |
| Financial income | 75/76B | €574 | €2,242 | +€1,668 | +291% |
| Recurring financial income | 75 | €574 | €2,242 | +€1,668 | +291% |
| Financial charges | 65/66B | €1,641 | €1,395 | -€247 | -15.0% |
| Recurring financial charges | 65 | €1,641 | €1,395 | -€247 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €43,663 | €87,569 | +€43,905 | +101% |
| Income taxes | 67/77 | €4,088 | €29,848 | +€25,759 | +630% |
| Profit (loss) for the period | 9904 | €39,575 | €57,721 | +€18,146 | +45.9% |
| Profit (loss) for the period to be appropriated | 9905 | €39,575 | €57,721 | +€18,146 | +45.9% |
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 20 October 2026 via checked.be.