MADE4PROJECTS: 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.
MADE4PROJECTS
Largest movements
- Receivables within one year +€94,891
up €94,891 (+1,582%), from €5,999 to €100,890
of which Trade receivables: +€93,697
- Cash -€60,625
down €60,625 (-79.9%), from €75,900 to €15,275
mainly Receivables within one year (-€94,891) and Investment in fixed assets (net) (-€14,295)
- Tangible fixed assets +€7,777
up €7,777 (+230%), from €3,383 to €11,160
- Deferred charges and accrued income -€2,277
down €2,277 (-20.9%), from €10,889 to €8,612
- Trade debts +€32,721
up €32,721 (+108%), from €30,294 to €63,015
- Other debts +€3,571
up €3,571 (+288%), from €1,242 to €4,813
- Tax, wage and social debts +€3,383
up €3,383 (+22.6%), from €14,937 to €18,319
- Profit (loss) carried forward +€2,608
up €2,608 (+5.8%), from €45,033 to €47,640
- Current portion of long-term debt -€1,867
down €1,867 (-74.2%), from €2,516 to €649
- Write-downs +€18,077
new in 2025: €18,077
- Gross operating margin +€11,861
up €11,861 (+48.9%), from €24,252 to €36,113
- Depreciation +€3,808
up €3,808 (+141%), from €2,710 to €6,518
- Taxes +€1,112
up €1,112 (+22.6%), from €4,932 to €6,044
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 | €96,170 | €135,936 | +€39,767 | +41.4% |
| Fixed assets | 21/28 | €3,383 | €11,160 | +€7,777 | +230% |
| Tangible fixed assets | 22/27 | €3,383 | €11,160 | +€7,777 | +230% |
| Furniture and vehicles | 24 | €3,383 | €11,160 | +€7,777 | +230% |
| Current assets | 29/58 | €92,787 | €124,776 | +€31,989 | +34.5% |
| Amounts receivable within one year | 40/41 | €5,999 | €100,890 | +€94,891 | +1,582% |
| Trade receivables | 40 | €3,391 | €97,089 | +€93,697 | +2,763% |
| Other amounts receivable | 41 | €2,607 | €3,801 | +€1,194 | +45.8% |
| Cash at bank and in hand | 54/58 | €75,900 | €15,275 | -€60,625 | -79.9% |
| Deferred charges and accrued income | 490/1 | €10,889 | €8,612 | -€2,277 | -20.9% |
| Total equity and liabilities | 10/49 | €96,170 | €135,936 | +€39,767 | +41.4% |
| Equity | 10/15 | €46,533 | €49,140 | +€2,608 | +5.6% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,033 | €47,640 | +€2,608 | +5.8% |
| Amounts payable | 17/49 | €49,637 | €86,796 | +€37,159 | +74.9% |
| Amounts payable after more than one year | 17 | €649 | - | -€649 | |
| Financial debts | 170/4 | €649 | - | -€649 | |
| Amounts payable within one year | 42/48 | €48,988 | €86,796 | +€37,808 | +77.2% |
| Current portion of amounts payable after more than one year | 42 | €2,516 | €649 | -€1,867 | -74.2% |
| Trade debts | 44 | €30,294 | €63,015 | +€32,721 | +108% |
| Suppliers | 440/4 | €30,294 | €63,015 | +€32,721 | +108% |
| Taxes, remuneration and social security | 45 | €14,937 | €18,319 | +€3,383 | +22.6% |
| Taxes | 450/3 | €14,937 | €18,319 | +€3,383 | +22.6% |
| Other amounts payable | 47/48 | €1,242 | €4,813 | +€3,571 | +288% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,710 | €6,518 | +€3,808 | +141% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €18,077 | +€18,077 | |
| Other operating charges | 640/8 | €1,151 | €1,085 | -€66 | -5.8% |
| Gross operating margin | 9900 | €24,252 | €36,113 | +€11,861 | +48.9% |
| Operating profit (loss) | 9901 | €20,391 | €10,432 | -€9,958 | -48.8% |
| Financial income | 75/76B | €3 | €248 | +€245 | +7,293% |
| Recurring financial income | 75 | €3 | €248 | +€245 | +7,293% |
| Financial charges | 65/66B | €1,691 | €2,029 | +€339 | +20.0% |
| Recurring financial charges | 65 | €1,691 | €2,029 | +€339 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €18,704 | €8,651 | -€10,052 | -53.7% |
| Income taxes | 67/77 | €4,932 | €6,044 | +€1,112 | +22.6% |
| Profit (loss) for the period | 9904 | €13,772 | €2,608 | -€11,164 | -81.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,772 | €2,608 | -€11,164 | -81.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.