FINISHING 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.
FINISHING PROJECTS
Largest movements
- Receivables within one year -€96,427
down €96,427 (-81.1%), from €118,936 to €22,508
of which Trade receivables: -€96,023
- Debts after one year -€150,000
down €150,000 (-14.3%), from €1.1m to €900,000
of which Financial debts: -€150,000
- Reserves +€90,023
up €90,023 (+3.5%), from €2.6m to €2.6m
- Gross operating margin +€29,935
up €29,935 (+34.4%), from €87,016 to €116,951
- Financial income +€23,274
up €23,274, from €0 to €23,274
- Taxes +€11,186
up €11,186 (+95.2%), from €11,747 to €22,933
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 | €4,423,082 | €4,344,072 | -€79,009 | -1.8% |
| Fixed assets | 21/28 | €4,300,000 | €4,300,000 | = | 0.0% |
| Financial fixed assets | 28 | €4,300,000 | €4,300,000 | = | 0.0% |
| Current assets | 29/58 | €123,082 | €44,072 | -€79,009 | -64.2% |
| Amounts receivable within one year | 40/41 | €118,936 | €22,508 | -€96,427 | -81.1% |
| Trade receivables | 40 | €111,778 | €15,755 | -€96,023 | -85.9% |
| Other amounts receivable | 41 | €7,158 | €6,753 | -€405 | -5.7% |
| Cash at bank and in hand | 54/58 | €4,146 | €21,564 | +€17,418 | +420.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €4,423,082 | €4,344,072 | -€79,009 | -1.8% |
| Equity | 10/15 | €3,006,068 | €3,096,091 | +€90,023 | +3.0% |
| Contributions | 10/11 | €450,000 | €450,000 | = | 0.0% |
| Reserves | 13 | €2,556,068 | €2,646,091 | +€90,023 | +3.5% |
| Distributable reserves | 133 | €2,556,068 | €2,646,091 | +€90,023 | +3.5% |
| Amounts payable | 17/49 | €1,417,014 | €1,247,982 | -€169,032 | -11.9% |
| Amounts payable after more than one year | 17 | €1,050,000 | €900,000 | -€150,000 | -14.3% |
| Financial debts | 170/4 | €450,000 | €300,000 | -€150,000 | -33.3% |
| Other amounts payable | 178/9 | €600,000 | €600,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €346,276 | €327,903 | -€18,373 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €190,852 | €165,967 | -€24,886 | -13.0% |
| Suppliers | 440/4 | €190,852 | €165,967 | -€24,886 | -13.0% |
| Taxes, remuneration and social security | 45 | €5,424 | €11,937 | +€6,513 | +120.1% |
| Taxes | 450/3 | €5,424 | €11,937 | +€6,513 | +120.1% |
| Accrued charges and deferred income | 492/3 | €20,738 | €20,078 | -€660 | -3.2% |
| Other operating charges | 640/8 | €1,258 | €1,293 | +€35 | +2.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €87,016 | €116,951 | +€29,935 | +34.4% |
| Operating profit (loss) | 9901 | €85,758 | €115,658 | +€29,900 | +34.9% |
| Financial income | 75/76B | €0 | €23,274 | +€23,274 | |
| Recurring financial income | 75 | €0 | €23,274 | +€23,274 | |
| Financial charges | 65/66B | €27,024 | €25,976 | -€1,049 | -3.9% |
| Recurring financial charges | 65 | €27,024 | €25,976 | -€1,049 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €58,733 | €112,956 | +€54,223 | +92.3% |
| Income taxes | 67/77 | €11,747 | €22,933 | +€11,186 | +95.2% |
| Profit (loss) for the period | 9904 | €46,987 | €90,023 | +€43,036 | +91.6% |
| Profit (loss) for the period to be appropriated | 9905 | €46,987 | €90,023 | +€43,036 | +91.6% |
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 9 October 2026 via checked.be.