Industrial Projects Support: what changed
Two fiscal 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 Projects Support
Largest movements
- Current investments +€27,000
up €27,000 (+207.7%), from €13,000 to €40,000
- Receivables within one year +€10,370
up €10,370 (+21.5%), from €48,257 to €58,627
of which Other amounts receivable: +€15,336
- Tangible fixed assets -€8,371
down €8,371 (-17.6%), from €47,430 to €39,059
of which Furniture and vehicles: -€5,149
- Cash +€2,603
up €2,603 (+33.9%), from €7,684 to €10,287
mainly Net result for the year (+€29,036) and Depreciation (+€10,129)
- Reserves +€20,056
up €20,056 (+26.5%), from €75,621 to €95,677
- Other debts +€8,981
up €8,981, from €0 to €8,981
- Tax, wage and social debts +€2,175
up €2,175 (+12.7%), from €17,178 to €19,353
- Gross operating margin -€16,214
down €16,214 (-24.8%), from €65,360 to €49,146
- Taxes -€2,198
down €2,198 (-14.6%), from €15,055 to €12,857
- Financial income +€2,149
up €2,149 (+124.4%), from €1,727 to €3,877
of which Non-recurring financial income: +€2,000
- Financial charges -€1,504
down €1,504 (-79.4%), from €1,895 to €391
- Depreciation -€1,443
down €1,443 (-12.5%), from €11,573 to €10,129
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 | €117,509 | €149,333 | +€31,824 | +27.1% |
| Fixed assets | 21/28 | €47,430 | €39,059 | -€8,371 | -17.6% |
| Tangible fixed assets | 22/27 | €47,430 | €39,059 | -€8,371 | -17.6% |
| Land and buildings | 22 | - | €1,701 | +€1,701 | |
| Plant, machinery and equipment | 23 | €1,776 | €930 | -€846 | -47.6% |
| Furniture and vehicles | 24 | €33,301 | €28,153 | -€5,149 | -15.5% |
| Other tangible fixed assets | 26 | €12,353 | €8,276 | -€4,077 | -33.0% |
| Current assets | 29/58 | €70,078 | €110,273 | +€40,195 | +57.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €48,257 | €58,627 | +€10,370 | +21.5% |
| Trade receivables | 40 | €26,259 | €21,293 | -€4,966 | -18.9% |
| Other amounts receivable | 41 | €21,998 | €37,335 | +€15,336 | +69.7% |
| Current investments | 50/53 | €13,000 | €40,000 | +€27,000 | +207.7% |
| Cash at bank and in hand | 54/58 | €7,684 | €10,287 | +€2,603 | +33.9% |
| Deferred charges and accrued income | 490/1 | €1,137 | €1,359 | +€222 | +19.5% |
| Total equity and liabilities | 10/49 | €117,509 | €149,333 | +€31,824 | +27.1% |
| Equity | 10/15 | €94,221 | €114,277 | +€20,056 | +21.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €75,621 | €95,677 | +€20,056 | +26.5% |
| Distributable reserves | 133 | €75,621 | €95,677 | +€20,056 | +26.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €23,287 | €35,056 | +€11,768 | +50.5% |
| Amounts payable within one year | 42/48 | €23,287 | €35,056 | +€11,768 | +50.5% |
| Current portion of amounts payable after more than one year | 42 | €3,392 | €4,038 | +€646 | +19.1% |
| Trade debts | 44 | €2,718 | €2,684 | -€34 | -1.2% |
| Suppliers | 440/4 | €2,718 | €2,684 | -€34 | -1.2% |
| Taxes, remuneration and social security | 45 | €17,178 | €19,353 | +€2,175 | +12.7% |
| Taxes | 450/3 | €17,178 | €19,353 | +€2,175 | +12.7% |
| Other amounts payable | 47/48 | €0 | €8,981 | +€8,981 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,573 | €10,129 | -€1,443 | -12.5% |
| Other operating charges | 640/8 | €1,128 | €610 | -€518 | -46.0% |
| Non-recurring operating charges | 66A | €896 | €0 | -€896 | -100.0% |
| Gross operating margin | 9900 | €65,360 | €49,146 | -€16,214 | -24.8% |
| Operating profit (loss) | 9901 | €51,764 | €38,407 | -€13,357 | -25.8% |
| Financial income | 75/76B | €1,727 | €3,877 | +€2,149 | +124.4% |
| Recurring financial income | 75 | €1,727 | €1,877 | +€149 | +8.7% |
| Non-recurring financial income | 76B | - | €2,000 | +€2,000 | |
| Financial charges | 65/66B | €1,895 | €391 | -€1,504 | -79.4% |
| Recurring financial charges | 65 | €1,895 | €391 | -€1,504 | -79.4% |
| Profit (loss) for the period before taxes | 9903 | €51,596 | €41,893 | -€9,703 | -18.8% |
| Income taxes | 67/77 | €15,055 | €12,857 | -€2,198 | -14.6% |
| Profit (loss) for the period | 9904 | €36,541 | €29,036 | -€7,505 | -20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,541 | €29,036 | -€7,505 | -20.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.