INDUSTRIAL PROJECT SERVICES: 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.
INDUSTRIAL PROJECT SERVICES
Largest movements
- Cash -€12,031
down €12,031 (-50.7%), from €23,721 to €11,690
mainly Net result for the year (-€12,427) and Receivables within one year (-€2,087)
- Receivables within one year +€2,087
up €2,087 (+18.3%), from €11,427 to €13,514
of which Trade receivables: +€2,956
- Tangible fixed assets -€916
down €916 (-37.2%), from €2,464 to €1,548
of which Furniture and vehicles: -€663
- Reserves -€12,427
down €12,427 (-52.1%), from €23,869 to €11,442
- Tax, wage and social debts +€1,317
up €1,317 (+42.6%), from €3,088 to €4,405
of which Taxes: +€1,317
- Gross operating margin -€12,835
down €12,835, from €2,609 to -€10,226
- Depreciation +€145
up €145 (+18.8%), from €771 to €916
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 | €37,612 | €26,752 | -€10,860 | -28.9% |
| Fixed assets | 21/28 | €2,464 | €1,548 | -€916 | -37.2% |
| Tangible fixed assets | 22/27 | €2,464 | €1,548 | -€916 | -37.2% |
| Plant, machinery and equipment | 23 | €638 | €386 | -€252 | -39.6% |
| Furniture and vehicles | 24 | €1,826 | €1,162 | -€663 | -36.3% |
| Current assets | 29/58 | €35,148 | €25,204 | -€9,945 | -28.3% |
| Amounts receivable within one year | 40/41 | €11,427 | €13,514 | +€2,087 | +18.3% |
| Trade receivables | 40 | €8,710 | €11,666 | +€2,956 | +33.9% |
| Other amounts receivable | 41 | €2,718 | €1,848 | -€869 | -32.0% |
| Cash at bank and in hand | 54/58 | €23,721 | €11,690 | -€12,031 | -50.7% |
| Total equity and liabilities | 10/49 | €37,612 | €26,752 | -€10,860 | -28.9% |
| Equity | 10/15 | €30,069 | €17,642 | -€12,427 | -41.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €23,869 | €11,442 | -€12,427 | -52.1% |
| Distributable reserves | 133 | €23,869 | €11,442 | -€12,427 | -52.1% |
| Amounts payable | 17/49 | €7,543 | €9,109 | +€1,566 | +20.8% |
| Amounts payable within one year | 42/48 | €7,543 | €9,109 | +€1,566 | +20.8% |
| Trade debts | 44 | €620 | €779 | +€159 | +25.7% |
| Suppliers | 440/4 | €620 | €779 | +€159 | +25.7% |
| Taxes, remuneration and social security | 45 | €3,088 | €4,405 | +€1,317 | +42.6% |
| Taxes | 450/3 | €1,088 | €2,405 | +€1,317 | +121% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €3,835 | €3,925 | +€90 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €771 | €916 | +€145 | +18.8% |
| Other operating charges | 640/8 | €789 | €813 | +€24 | +3.0% |
| Non-recurring operating charges | 66A | €320 | €265 | -€55 | -17.2% |
| Gross operating margin | 9900 | €2,609 | -€10,226 | -€12,835 | |
| Operating profit (loss) | 9901 | €729 | -€12,220 | -€12,949 | |
| Financial income | 75/76B | €2 | €0 | -€2 | -88.0% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -88.0% |
| Financial charges | 65/66B | €61 | €55 | -€5 | -8.8% |
| Recurring financial charges | 65 | €61 | €55 | -€5 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €671 | -€12,275 | -€12,945 | |
| Income taxes | 67/77 | €143 | €152 | +€9 | +6.3% |
| Profit (loss) for the period | 9904 | €528 | -€12,427 | -€12,954 | |
| Profit (loss) for the period to be appropriated | 9905 | €528 | -€12,427 | -€12,954 |
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 28 October 2026 via checked.be.