NEW GROUND PROJECTS: 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.
NEW GROUND PROJECTS
Largest movements
- Stocks and contracts +€99,197
up €99,197 (+6.6%), from €1.5m to €1.6m
- Cash -€22,882
down €22,882 (-58.8%), from €38,902 to €16,020
mainly Short-term financial debts (-€221,850) and Stocks and contracts (-€99,197)
- Receivables within one year +€19,708
up €19,708 (+88.1%), from €22,367 to €42,076
of which Other amounts receivable: +€31,773
- Short-term financial debts -€221,850
down €221,850 (-41.4%), from €535,450 to €313,600
- Other debts +€179,982
up €179,982 (+84.5%), from €213,081 to €393,064
- Debts after one year +€150,000
up €150,000 (+20.8%), from €720,000 to €870,000
- Profit (loss) carried forward -€42,901
down €42,901, from €39,357 to -€3,544
- Trade debts +€21,384
up €21,384 (+57.5%), from €37,175 to €58,559
- Gross operating margin -€117,167
down €117,167 (-87.6%), from €133,699 to €16,532
- Financial charges -€15,249
down €15,249 (-20.1%), from €75,792 to €60,543
- Taxes -€14,742
down €14,742 (-100.0%), from €14,742 to €0
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 | €1,578,361 | €1,668,661 | +€90,299 | +5.7% |
| Fixed assets | 21/28 | €6,500 | €0 | -€6,500 | -100.0% |
| Financial fixed assets | 28 | €6,500 | €0 | -€6,500 | -100.0% |
| Current assets | 29/58 | €1,571,861 | €1,668,661 | +€96,799 | +6.2% |
| Stocks and contracts in progress | 3 | €1,510,028 | €1,609,224 | +€99,197 | +6.6% |
| Stocks | 30/36 | €1,510,028 | €1,609,224 | +€99,197 | +6.6% |
| Amounts receivable within one year | 40/41 | €22,367 | €42,076 | +€19,708 | +88.1% |
| Trade receivables | 40 | €13,000 | €935 | -€12,065 | -92.8% |
| Other amounts receivable | 41 | €9,367 | €41,141 | +€31,773 | +339.2% |
| Cash at bank and in hand | 54/58 | €38,902 | €16,020 | -€22,882 | -58.8% |
| Deferred charges and accrued income | 490/1 | €564 | €1,341 | +€776 | +137.6% |
| Total equity and liabilities | 10/49 | €1,578,361 | €1,668,661 | +€90,299 | +5.7% |
| Equity | 10/15 | €49,357 | €6,456 | -€42,901 | -86.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,357 | -€3,544 | -€42,901 | |
| Amounts payable | 17/49 | €1,529,004 | €1,662,204 | +€133,200 | +8.7% |
| Amounts payable after more than one year | 17 | €720,000 | €870,000 | +€150,000 | +20.8% |
| Financial debts | 170/4 | €720,000 | €870,000 | +€150,000 | +20.8% |
| Amounts payable within one year | 42/48 | €800,748 | €782,685 | -€18,063 | -2.3% |
| Financial debts | 43 | €535,450 | €313,600 | -€221,850 | -41.4% |
| Credit institutions | 430/8 | €535,450 | €313,600 | -€221,850 | -41.4% |
| Trade debts | 44 | €37,175 | €58,559 | +€21,384 | +57.5% |
| Suppliers | 440/4 | €37,175 | €58,559 | +€21,384 | +57.5% |
| Taxes, remuneration and social security | 45 | €15,042 | €17,462 | +€2,420 | +16.1% |
| Taxes | 450/3 | €15,042 | €17,462 | +€2,420 | +16.1% |
| Other amounts payable | 47/48 | €213,081 | €393,064 | +€179,982 | +84.5% |
| Accrued charges and deferred income | 492/3 | €8,257 | €9,519 | +€1,263 | +15.3% |
| Other operating charges | 640/8 | €1,030 | €231 | -€799 | -77.6% |
| Gross operating margin | 9900 | €133,699 | €16,532 | -€117,167 | -87.6% |
| Operating profit (loss) | 9901 | €132,669 | €16,301 | -€116,369 | -87.7% |
| Financial income | 75/76B | €564 | €1,342 | +€777 | +137.7% |
| Recurring financial income | 75 | €564 | €1,342 | +€777 | +137.7% |
| Financial charges | 65/66B | €75,792 | €60,543 | -€15,249 | -20.1% |
| Recurring financial charges | 65 | €75,792 | €60,543 | -€15,249 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €57,442 | -€42,901 | -€100,342 | |
| Income taxes | 67/77 | €14,742 | €0 | -€14,742 | -100.0% |
| Profit (loss) for the period | 9904 | €42,700 | -€42,901 | -€85,601 | |
| Profit (loss) for the period to be appropriated | 9905 | €42,700 | -€42,901 | -€85,601 |
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.