FT 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.
FT Projects
Largest movements
- Receivables within one year -€36,588
down €36,588 (-47.2%), from €77,567 to €40,979
of which Trade receivables: -€27,200
- Deferred charges and accrued income +€23,421
up €23,421 (+380%), from €6,164 to €29,584
- Cash +€7,545
up €7,545 (+7.8%), from €97,035 to €104,580
mainly Other debts (+€58,864) and Receivables within one year (+€36,588)
- Other debts +€58,864
up €58,864 (+75.3%), from €78,168 to €137,032
- Profit (loss) carried forward -€35,091
down €35,091 (-100%), from €35,091 to €0
- Reserves -€18,323
down €18,323 (-100%), from €18,323 to €0
- Tax, wage and social debts -€8,763
down €8,763 (-45.9%), from €19,103 to €10,340
- Trade debts -€6,257
down €6,257 (-18.9%), from €33,176 to €26,919
- Gross operating margin +€42,118
up €42,118, from -€15,602 to €26,516
- Financial income -€7,265
down €7,265 (-100.0%), from €7,265 to €0
- Taxes +€6,321
up €6,321 (+206%), from €3,067 to €9,388
- Financial charges +€1,109
up €1,109 (+19.5%), from €5,690 to €6,799
- Depreciation -€815
down €815 (-29.5%), from €2,763 to €1,948
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 | €202,856 | €194,535 | -€8,320 | -4.1% |
| Fixed assets | 21/28 | €9,993 | €8,045 | -€1,948 | -19.5% |
| Tangible fixed assets | 22/27 | €9,993 | €8,045 | -€1,948 | -19.5% |
| Land and buildings | 22 | €9,026 | €7,551 | -€1,475 | -16.3% |
| Plant, machinery and equipment | 23 | €776 | €494 | -€283 | -36.4% |
| Furniture and vehicles | 24 | €190 | €0 | -€190 | -100% |
| Current assets | 29/58 | €192,863 | €186,491 | -€6,372 | -3.3% |
| Stocks and contracts in progress | 3 | €12,098 | €11,347 | -€750 | -6.2% |
| Stocks | 30/36 | €12,098 | €11,347 | -€750 | -6.2% |
| Amounts receivable within one year | 40/41 | €77,567 | €40,979 | -€36,588 | -47.2% |
| Trade receivables | 40 | €63,567 | €36,367 | -€27,200 | -42.8% |
| Other amounts receivable | 41 | €14,000 | €4,612 | -€9,388 | -67.1% |
| Cash at bank and in hand | 54/58 | €97,035 | €104,580 | +€7,545 | +7.8% |
| Deferred charges and accrued income | 490/1 | €6,164 | €29,584 | +€23,421 | +380% |
| Total equity and liabilities | 10/49 | €202,856 | €194,535 | -€8,320 | -4.1% |
| Equity | 10/15 | €72,014 | €18,600 | -€53,414 | -74.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,323 | €0 | -€18,323 | -100% |
| Distributable reserves | 133 | €18,323 | €0 | -€18,323 | -100% |
| Profit (loss) carried forward | 14 | €35,091 | €0 | -€35,091 | -100% |
| Amounts payable | 17/49 | €130,842 | €175,935 | +€45,093 | +34.5% |
| Amounts payable within one year | 42/48 | €130,447 | €174,290 | +€43,843 | +33.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €33,176 | €26,919 | -€6,257 | -18.9% |
| Suppliers | 440/4 | €33,176 | €26,919 | -€6,257 | -18.9% |
| Taxes, remuneration and social security | 45 | €19,103 | €10,340 | -€8,763 | -45.9% |
| Taxes | 450/3 | €19,103 | €10,340 | -€8,763 | -45.9% |
| Other amounts payable | 47/48 | €78,168 | €137,032 | +€58,864 | +75.3% |
| Accrued charges and deferred income | 492/3 | €395 | €1,645 | +€1,250 | +316% |
| Non-recurring operating income | 76A | €28,000 | €0 | -€28,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,763 | €1,948 | -€815 | -29.5% |
| Other operating charges | 640/8 | €838 | €1,291 | +€453 | +54.1% |
| Gross operating margin | 9900 | -€15,602 | €26,516 | +€42,118 | |
| Operating profit (loss) | 9901 | -€19,203 | €23,277 | +€42,480 | |
| Financial income | 75/76B | €7,265 | €0 | -€7,265 | -100.0% |
| Recurring financial income | 75 | €7,265 | €0 | -€7,265 | -100.0% |
| Financial charges | 65/66B | €5,690 | €6,799 | +€1,109 | +19.5% |
| Recurring financial charges | 65 | €5,690 | €6,799 | +€1,109 | +19.5% |
| Profit (loss) for the period before taxes | 9903 | -€17,627 | €16,479 | +€34,106 | |
| Income taxes | 67/77 | €3,067 | €9,388 | +€6,321 | +206% |
| Profit (loss) for the period | 9904 | -€20,694 | €7,091 | +€27,785 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,694 | €7,091 | +€27,785 |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.