Management Project Development: 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.
Management Project Development
Largest movements
- Deferred charges and accrued income -€45,889
no longer reported in 2025 (was €45,889)
- Receivables within one year +€32,197
up €32,197 (+1759.8%), from €1,830 to €34,026
of which Other amounts receivable: +€31,419
- Cash +€23,300
up €23,300 (+83272.9%), from €28 to €23,328
mainly Net result for the year (+€71,276) and Deferred charges and accrued income (+€45,889)
- Financial fixed assets -€22,800
down €22,800 (-72.4%), from €31,500 to €8,700
- Tangible fixed assets +€3,904
up €3,904 (+206.6%), from €1,889 to €5,794
of which Furniture and vehicles: +€4,623
- Other debts -€78,985
down €78,985 (-81.0%), from €97,563 to €18,578
- Profit (loss) carried forward +€71,276
up €71,276 (+64.9%), from -€109,817 to -€38,541
- Tax, wage and social debts -€2,570
down €2,570 (-94.3%), from €2,724 to €154
- Trade debts +€990
up €990 (+9.9%), from €9,991 to €10,981
- Gross operating margin +€49,503
up €49,503 (+220.1%), from €22,489 to €71,992
- Staff costs -€13,621
no longer reported in 2025 (was €13,621)
- Financial charges -€13,148
down €13,148 (-99.5%), from €13,218 to €70
- Depreciation -€3,792
down €3,792 (-77.6%), from €4,888 to €1,096
- Financial income +€883
up €883 (+72340.2%), from €1 to €884
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 | €81,136 | €71,848 | -€9,288 | -11.4% |
| Fixed assets | 21/28 | €33,389 | €14,494 | -€18,896 | -56.6% |
| Tangible fixed assets | 22/27 | €1,889 | €5,794 | +€3,904 | +206.6% |
| Land and buildings | 22 | €1,889 | €1,170 | -€719 | -38.1% |
| Furniture and vehicles | 24 | - | €4,623 | +€4,623 | |
| Financial fixed assets | 28 | €31,500 | €8,700 | -€22,800 | -72.4% |
| Current assets | 29/58 | €47,747 | €57,354 | +€9,607 | +20.1% |
| Amounts receivable within one year | 40/41 | €1,830 | €34,026 | +€32,197 | +1759.8% |
| Trade receivables | 40 | - | €778 | +€778 | |
| Other amounts receivable | 41 | €1,830 | €33,248 | +€31,419 | +1717.3% |
| Cash at bank and in hand | 54/58 | €28 | €23,328 | +€23,300 | +83272.9% |
| Deferred charges and accrued income | 490/1 | €45,889 | - | -€45,889 | |
| Total equity and liabilities | 10/49 | €81,136 | €71,848 | -€9,288 | -11.4% |
| Equity | 10/15 | -€39,817 | €31,459 | +€71,276 | |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €40,000 | €40,000 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€109,817 | -€38,541 | +€71,276 | +64.9% |
| Amounts payable | 17/49 | €120,953 | €40,388 | -€80,565 | -66.6% |
| Amounts payable after more than one year | 17 | €10,675 | €10,675 | = | 0.0% |
| Financial debts | 170/4 | €10,675 | €10,675 | = | 0.0% |
| Amounts payable within one year | 42/48 | €110,278 | €29,713 | -€80,565 | -73.1% |
| Trade debts | 44 | €9,991 | €10,981 | +€990 | +9.9% |
| Suppliers | 440/4 | €9,991 | €10,981 | +€990 | +9.9% |
| Taxes, remuneration and social security | 45 | €2,724 | €154 | -€2,570 | -94.3% |
| Remuneration and social security | 454/9 | €2,724 | €154 | -€2,570 | -94.3% |
| Other amounts payable | 47/48 | €97,563 | €18,578 | -€78,985 | -81.0% |
| Remuneration, social security and pensions | 62 | €13,621 | - | -€13,621 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,888 | €1,096 | -€3,792 | -77.6% |
| Other operating charges | 640/8 | €394 | €433 | +€39 | +9.8% |
| Gross operating margin | 9900 | €22,489 | €71,992 | +€49,503 | +220.1% |
| Operating profit (loss) | 9901 | €3,586 | €70,463 | +€66,877 | +1865.1% |
| Financial income | 75/76B | €1 | €884 | +€883 | +72340.2% |
| Recurring financial income | 75 | €1 | €884 | +€883 | +72340.2% |
| Financial charges | 65/66B | €13,218 | €70 | -€13,148 | -99.5% |
| Recurring financial charges | 65 | €13,218 | €70 | -€13,148 | -99.5% |
| Profit (loss) for the period before taxes | 9903 | -€9,631 | €71,276 | +€80,908 | |
| Profit (loss) for the period | 9904 | -€9,631 | €71,276 | +€80,908 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,631 | €71,276 | +€80,908 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.