FR projets: 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.
FR projets
Largest movements
- Cash -€25,158
no longer reported in 2025 (was €25,158)
mainly Other debts (-€64,739) and Net result for the year (-€45,209)
- Receivables within one year -€18,968
down €18,968 (-8.7%), from €216,835 to €197,868
of which Trade receivables: -€18,968
- Deferred charges and accrued income -€16,508
down €16,508 (-98.6%), from €16,746 to €238
- Tangible fixed assets -€14,432
down €14,432 (-2.9%), from €495,976 to €481,545
of which Land and buildings: -€9,439
- Other debts -€64,739
down €64,739 (-76.4%), from €84,791 to €20,052
- Profit (loss) carried forward -€45,209
down €45,209 (-84.0%), from -€53,844 to -€99,053
- Trade debts +€28,975
new in 2025: €28,975
- Tax, wage and social debts +€23,844
up €23,844 (+138.6%), from €17,206 to €41,050
of which Taxes: +€15,167
- Debts after one year -€14,204
down €14,204 (-3.2%), from €448,687 to €434,483
- Gross operating margin +€10,428
up €10,428 (+33.2%), from €31,384 to €41,813
- Financial charges -€10,234
down €10,234 (-32.9%), from €31,136 to €20,902
- Staff costs +€3,139
up €3,139 (+9.8%), from €31,893 to €35,032
- Other operating charges -€1,650
down €1,650 (-26.0%), from €6,336 to €4,686
- Taxes -€489
down €489 (-60.2%), from €812 to €323
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 | €755,316 | €680,251 | -€75,065 | -9.9% |
| Fixed assets | 21/28 | €496,576 | €482,145 | -€14,432 | -2.9% |
| Tangible fixed assets | 22/27 | €495,976 | €481,545 | -€14,432 | -2.9% |
| Land and buildings | 22 | €479,069 | €469,630 | -€9,439 | -2.0% |
| Plant, machinery and equipment | 23 | €2,887 | €2,073 | -€814 | -28.2% |
| Furniture and vehicles | 24 | €14,019 | €9,841 | -€4,178 | -29.8% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €258,740 | €198,106 | -€60,634 | -23.4% |
| Amounts receivable within one year | 40/41 | €216,835 | €197,868 | -€18,968 | -8.7% |
| Trade receivables | 40 | €22,175 | €3,208 | -€18,968 | -85.5% |
| Other amounts receivable | 41 | €194,660 | €194,660 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €25,158 | - | -€25,158 | |
| Deferred charges and accrued income | 490/1 | €16,746 | €238 | -€16,508 | -98.6% |
| Total equity and liabilities | 10/49 | €755,316 | €680,251 | -€75,065 | -9.9% |
| Equity | 10/15 | €170,056 | €124,847 | -€45,209 | -26.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €205,300 | €205,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €203,300 | €203,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,844 | -€99,053 | -€45,209 | -84.0% |
| Amounts payable | 17/49 | €585,260 | €555,403 | -€29,856 | -5.1% |
| Amounts payable after more than one year | 17 | €448,687 | €434,483 | -€14,204 | -3.2% |
| Financial debts | 170/4 | €448,687 | €434,483 | -€14,204 | -3.2% |
| Amounts payable within one year | 42/48 | €136,572 | €120,921 | -€15,652 | -11.5% |
| Current portion of amounts payable after more than one year | 42 | €34,574 | €29,875 | -€4,700 | -13.6% |
| Financial debts | 43 | - | €968 | +€968 | |
| Credit institutions | 430/8 | - | €968 | +€968 | |
| Trade debts | 44 | - | €28,975 | +€28,975 | |
| Suppliers | 440/4 | - | €28,975 | +€28,975 | |
| Taxes, remuneration and social security | 45 | €17,206 | €41,050 | +€23,844 | +138.6% |
| Taxes | 450/3 | €13,495 | €28,662 | +€15,167 | +112.4% |
| Remuneration and social security | 454/9 | €3,711 | €12,388 | +€8,677 | +233.8% |
| Other amounts payable | 47/48 | €84,791 | €20,052 | -€64,739 | -76.4% |
| Remuneration, social security and pensions | 62 | €31,893 | €35,032 | +€3,139 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,492 | €14,432 | -€61 | -0.4% |
| Other operating charges | 640/8 | €6,336 | €4,686 | -€1,650 | -26.0% |
| Non-recurring operating charges | 66A | €2,481 | €11,648 | +€9,168 | +369.6% |
| Gross operating margin | 9900 | €31,384 | €41,813 | +€10,428 | +33.2% |
| Operating profit (loss) | 9901 | -€23,818 | -€23,985 | -€168 | -0.7% |
| Financial income | 75/76B | €34 | €1 | -€32 | -96.0% |
| Recurring financial income | 75 | €34 | €1 | -€32 | -96.0% |
| Financial charges | 65/66B | €31,136 | €20,902 | -€10,234 | -32.9% |
| Recurring financial charges | 65 | €31,136 | €20,902 | -€10,234 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | -€54,920 | -€44,886 | +€10,034 | +18.3% |
| Income taxes | 67/77 | €812 | €323 | -€489 | -60.2% |
| Profit (loss) for the period | 9904 | -€55,731 | -€45,209 | +€10,522 | +18.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,731 | -€45,209 | +€10,522 | +18.9% |
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 10 October 2026 via checked.be.