FB PROJECT MANAGEMENT: 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.
FB PROJECT MANAGEMENT
Largest movements
- Cash -€22,420
down €22,420 (-31.7%), from €70,624 to €48,204
mainly Current portion of long-term debt (-€50,993) and Contributions, distributions and other (-€34,400)
- Current investments -€10,000
no longer reported in 2025 (was €10,000)
- Tangible fixed assets -€7,240
down €7,240 (-6.7%), from €107,681 to €100,441
of which Land and buildings: -€5,428
- Current portion of long-term debt -€50,993
down €50,993 (-100%), from €50,993 to €0
- Reserves +€7,153
up €7,153 (+6.7%), from €107,268 to €114,421
of which Distributable reserves: +€7,153
- Other debts +€4,764
up €4,764 (+920%), from €518 to €5,282
- Gross operating margin +€7,707
up €7,707 (+13.0%), from €59,255 to €66,962
- Other operating charges -€6,580
down €6,580 (-82.8%), from €7,951 to €1,371
- Write-downs +€6,500
no longer reported in 2025 (was -€6,500)
- Taxes +€2,580
up €2,580 (+18.9%), from €13,640 to €16,220
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 | €191,132 | €151,909 | -€39,223 | -20.5% |
| Fixed assets | 21/28 | €107,681 | €100,441 | -€7,240 | -6.7% |
| Tangible fixed assets | 22/27 | €107,681 | €100,441 | -€7,240 | -6.7% |
| Land and buildings | 22 | €103,595 | €98,166 | -€5,428 | -5.2% |
| Plant, machinery and equipment | 23 | €731 | €410 | -€321 | -43.9% |
| Other tangible fixed assets | 26 | €3,355 | €1,865 | -€1,490 | -44.4% |
| Current assets | 29/58 | €83,451 | €51,468 | -€31,983 | -38.3% |
| Current investments | 50/53 | €10,000 | - | -€10,000 | |
| Cash at bank and in hand | 54/58 | €70,624 | €48,204 | -€22,420 | -31.7% |
| Deferred charges and accrued income | 490/1 | €2,827 | €3,264 | +€437 | +15.5% |
| Total equity and liabilities | 10/49 | €191,132 | €151,909 | -€39,223 | -20.5% |
| Equity | 10/15 | €125,868 | €133,021 | +€7,153 | +5.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €107,268 | €114,421 | +€7,153 | +6.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €105,408 | €112,561 | +€7,153 | +6.8% |
| Amounts payable | 17/49 | €65,264 | €18,888 | -€46,376 | -71.1% |
| Amounts payable within one year | 42/48 | €65,264 | €18,888 | -€46,376 | -71.1% |
| Current portion of amounts payable after more than one year | 42 | €50,993 | €0 | -€50,993 | -100% |
| Financial debts | 43 | €1,695 | €1,691 | -€4 | -0.2% |
| Credit institutions | 430/8 | €1,695 | €1,691 | -€4 | -0.2% |
| Trade debts | 44 | €801 | €474 | -€327 | -40.9% |
| Suppliers | 440/4 | €801 | €474 | -€327 | -40.9% |
| Taxes, remuneration and social security | 45 | €11,258 | €11,442 | +€184 | +1.6% |
| Taxes | 450/3 | €11,258 | €11,442 | +€184 | +1.6% |
| Other amounts payable | 47/48 | €518 | €5,282 | +€4,764 | +920% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,724 | €7,240 | -€484 | -6.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€6,500 | - | +€6,500 | |
| Other operating charges | 640/8 | €7,951 | €1,371 | -€6,580 | -82.8% |
| Non-recurring operating charges | 66A | €524 | - | -€524 | |
| Gross operating margin | 9900 | €59,255 | €66,962 | +€7,707 | +13.0% |
| Operating profit (loss) | 9901 | €49,556 | €58,351 | +€8,795 | +17.7% |
| Financial income | 75/76B | €141 | €574 | +€433 | +307% |
| Recurring financial income | 75 | €141 | €574 | +€433 | +307% |
| Financial charges | 65/66B | €1,587 | €1,152 | -€435 | -27.4% |
| Recurring financial charges | 65 | €1,587 | €1,152 | -€435 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | €48,110 | €57,773 | +€9,663 | +20.1% |
| Income taxes | 67/77 | €13,640 | €16,220 | +€2,580 | +18.9% |
| Profit (loss) for the period | 9904 | €34,470 | €41,553 | +€7,083 | +20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,470 | €41,553 | +€7,083 | +20.5% |
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 17 October 2026 via checked.be.