NA projets: 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.
NA projets
Largest movements
- Stocks and contracts +€6,346
up €6,346 (+67.2%), from €9,444 to €15,790
- Receivables within one year -€5,207
down €5,207 (-92.3%), from €5,641 to €434
of which Trade receivables: -€5,590
- Cash -€2,992
down €2,992 (-79.9%), from €3,743 to €751
mainly Trade debts (-€22,763) and Stocks and contracts (-€6,346)
- Trade debts -€22,763
down €22,763 (-69.7%), from €32,662 to €9,900
- Profit (loss) carried forward +€11,428
up €11,428 (+40.0%), from -€28,566 to -€17,138
- Other debts +€9,618
up €9,618 (+82.6%), from €11,645 to €21,263
- Accrued charges and deferred income -€287
down €287 (-29.1%), from €987 to €700
- Gross operating margin -€204
down €204 (-1.6%), from €12,398 to €12,195
- Financial charges -€170
down €170 (-33.0%), from €516 to €346
- Depreciation -€126
down €126 (-82.2%), from €153 to €27
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 | €19,229 | €17,225 | -€2,004 | -10.4% |
| Fixed assets | 21/28 | €27 | - | -€27 | |
| Tangible fixed assets | 22/27 | €27 | - | -€27 | |
| Furniture and vehicles | 24 | €27 | - | -€27 | |
| Current assets | 29/58 | €19,202 | €17,225 | -€1,977 | -10.3% |
| Stocks and contracts in progress | 3 | €9,444 | €15,790 | +€6,346 | +67.2% |
| Stocks | 30/36 | €9,444 | €15,790 | +€6,346 | +67.2% |
| Amounts receivable within one year | 40/41 | €5,641 | €434 | -€5,207 | -92.3% |
| Trade receivables | 40 | €5,590 | - | -€5,590 | |
| Other amounts receivable | 41 | €51 | €434 | +€383 | +755.2% |
| Cash at bank and in hand | 54/58 | €3,743 | €751 | -€2,992 | -79.9% |
| Deferred charges and accrued income | 490/1 | €373 | €250 | -€123 | -33.0% |
| Total equity and liabilities | 10/49 | €19,229 | €17,225 | -€2,004 | -10.4% |
| Equity | 10/15 | -€26,066 | -€14,638 | +€11,428 | +43.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,566 | -€17,138 | +€11,428 | +40.0% |
| Amounts payable | 17/49 | €45,295 | €31,863 | -€13,432 | -29.7% |
| Amounts payable within one year | 42/48 | €44,307 | €31,163 | -€13,145 | -29.7% |
| Trade debts | 44 | €32,662 | €9,900 | -€22,763 | -69.7% |
| Suppliers | 440/4 | €32,662 | €9,900 | -€22,763 | -69.7% |
| Other amounts payable | 47/48 | €11,645 | €21,263 | +€9,618 | +82.6% |
| Accrued charges and deferred income | 492/3 | €987 | €700 | -€287 | -29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €153 | €27 | -€126 | -82.2% |
| Other operating charges | 640/8 | €487 | €404 | -€84 | -17.2% |
| Gross operating margin | 9900 | €12,398 | €12,195 | -€204 | -1.6% |
| Operating profit (loss) | 9901 | €11,758 | €11,763 | +€6 | 0.0% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €516 | €346 | -€170 | -33.0% |
| Recurring financial charges | 65 | €516 | €346 | -€170 | -33.0% |
| Profit (loss) for the period before taxes | 9903 | €11,241 | €11,428 | +€186 | +1.7% |
| Profit (loss) for the period | 9904 | €11,241 | €11,428 | +€186 | +1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,241 | €11,428 | +€186 | +1.7% |
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.