Iproject: 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.
Iproject
Largest movements
- Tangible fixed assets +€232,823
up €232,823 (+45.6%), from €511,074 to €743,897
of which Land and buildings: +€162,566
- Cash -€25,569
down €25,569 (-43.9%), from €58,281 to €32,712
mainly Investment in fixed assets (net) (-€265,187) and Tax, wage and social debts (-€4,630)
- Debts after one year +€152,672
up €152,672 (+54.5%), from €279,916 to €432,587
of which Financial debts: +€118,672
- Reserves +€48,237
up €48,237 (+19.7%), from €244,926 to €293,163
- Current portion of long-term debt +€12,397
up €12,397 (+30.1%), from €41,198 to €53,594
- Other operating charges +€34,529
up €34,529 (+1,056%), from €3,269 to €37,798
- Gross operating margin +€34,455
up €34,455 (+30.2%), from €114,000 to €148,455
- Depreciation +€3,203
up €3,203 (+11.0%), from €29,161 to €32,365
- Financial charges +€2,518
up €2,518 (+23.1%), from €10,916 to €13,434
- Financial income +€2,140
up €2,140 (+3,904%), from €55 to €2,195
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 | €585,037 | €794,800 | +€209,762 | +35.9% |
| Fixed assets | 21/28 | €511,074 | €743,897 | +€232,823 | +45.6% |
| Tangible fixed assets | 22/27 | €511,074 | €743,897 | +€232,823 | +45.6% |
| Land and buildings | 22 | €506,535 | €669,101 | +€162,566 | +32.1% |
| Plant, machinery and equipment | 23 | €4,539 | €3,307 | -€1,232 | -27.1% |
| Furniture and vehicles | 24 | - | €67,247 | +€67,247 | |
| Other tangible fixed assets | 26 | - | €4,242 | +€4,242 | |
| Current assets | 29/58 | €73,963 | €50,903 | -€23,061 | -31.2% |
| Amounts receivable within one year | 40/41 | €14,193 | €16,488 | +€2,295 | +16.2% |
| Trade receivables | 40 | €14,193 | €16,488 | +€2,295 | +16.2% |
| Cash at bank and in hand | 54/58 | €58,281 | €32,712 | -€25,569 | -43.9% |
| Deferred charges and accrued income | 490/1 | €1,489 | €1,703 | +€213 | +14.3% |
| Total equity and liabilities | 10/49 | €585,037 | €794,800 | +€209,762 | +35.9% |
| Equity | 10/15 | €251,126 | €299,363 | +€48,237 | +19.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €244,926 | €293,163 | +€48,237 | +19.7% |
| Distributable reserves | 133 | €244,926 | €293,163 | +€48,237 | +19.7% |
| Amounts payable | 17/49 | €333,911 | €495,437 | +€161,526 | +48.4% |
| Amounts payable after more than one year | 17 | €279,916 | €432,587 | +€152,672 | +54.5% |
| Financial debts | 170/4 | €279,916 | €398,587 | +€118,672 | +42.4% |
| Other amounts payable | 178/9 | - | €34,000 | +€34,000 | |
| Amounts payable within one year | 42/48 | €53,995 | €62,075 | +€8,079 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €41,198 | €53,594 | +€12,397 | +30.1% |
| Trade debts | 44 | €2,587 | €3,711 | +€1,124 | +43.5% |
| Suppliers | 440/4 | €2,587 | €3,711 | +€1,124 | +43.5% |
| Taxes, remuneration and social security | 45 | €9,131 | €4,501 | -€4,630 | -50.7% |
| Taxes | 450/3 | €9,131 | €4,501 | -€4,630 | -50.7% |
| Other amounts payable | 47/48 | €1,080 | €269 | -€812 | -75.1% |
| Accrued charges and deferred income | 492/3 | - | €775 | +€775 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,161 | €32,365 | +€3,203 | +11.0% |
| Other operating charges | 640/8 | €3,269 | €37,798 | +€34,529 | +1,056% |
| Gross operating margin | 9900 | €114,000 | €148,455 | +€34,455 | +30.2% |
| Operating profit (loss) | 9901 | €81,569 | €78,292 | -€3,277 | -4.0% |
| Financial income | 75/76B | €55 | €2,195 | +€2,140 | +3,904% |
| Recurring financial income | 75 | €55 | €2,195 | +€2,140 | +3,904% |
| Financial charges | 65/66B | €10,916 | €13,434 | +€2,518 | +23.1% |
| Recurring financial charges | 65 | €10,916 | €13,434 | +€2,518 | +23.1% |
| Profit (loss) for the period before taxes | 9903 | €70,708 | €67,053 | -€3,655 | -5.2% |
| Income taxes | 67/77 | €20,011 | €18,816 | -€1,195 | -6.0% |
| Profit (loss) for the period | 9904 | €50,696 | €48,237 | -€2,460 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €50,696 | €48,237 | -€2,460 | -4.9% |
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 26 October 2026 via checked.be.