NEXT PROJECTS: 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.
NEXT PROJECTS
Largest movements
- Receivables within one year -€256,484
down €256,484 (-59.6%), from €430,051 to €173,567
of which Trade receivables: -€215,558
- Cash +€131,655
up €131,655 (+360%), from €36,614 to €168,269
mainly Receivables within one year (+€256,484) and Stocks and contracts (+€76,868)
- Stocks and contracts -€76,868
down €76,868 (-19.4%), from €396,391 to €319,522
- Profit (loss) carried forward -€155,308
down €155,308 (-24.0%), from €646,270 to €490,962
- Trade debts -€55,976
down €55,976 (-39.1%), from €143,206 to €87,230
- Tax, wage and social debts +€10,920
new in 2025: €10,920
- Gross operating margin -€98,198
down €98,198 (-236%), from -€41,617 to -€139,815
- Other operating charges -€14,153
down €14,153 (-72.5%), from €19,519 to €5,367
- Taxes -€3,157
no longer reported in 2025 (was €3,157)
- Financial income -€2,171
down €2,171 (-91.4%), from €2,376 to €205
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 | €921,505 | €721,112 | -€200,393 | -21.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €57,627 | €58,921 | +€1,293 | +2.2% |
| Tangible fixed assets | 22/27 | €57,627 | €58,921 | +€1,293 | +2.2% |
| Plant, machinery and equipment | 23 | €3,811 | €6,310 | +€2,499 | +65.6% |
| Furniture and vehicles | 24 | €23,763 | €22,557 | -€1,205 | -5.1% |
| Other tangible fixed assets | 26 | €30,053 | €30,053 | = | 0.0% |
| Current assets | 29/58 | €863,877 | €662,191 | -€201,686 | -23.3% |
| Stocks and contracts in progress | 3 | €396,391 | €319,522 | -€76,868 | -19.4% |
| Stocks | 30/36 | €396,391 | €319,522 | -€76,868 | -19.4% |
| Amounts receivable within one year | 40/41 | €430,051 | €173,567 | -€256,484 | -59.6% |
| Trade receivables | 40 | €379,476 | €163,918 | -€215,558 | -56.8% |
| Other amounts receivable | 41 | €50,574 | €9,649 | -€40,925 | -80.9% |
| Cash at bank and in hand | 54/58 | €36,614 | €168,269 | +€131,655 | +360% |
| Deferred charges and accrued income | 490/1 | €822 | €832 | +€11 | +1.3% |
| Total equity and liabilities | 10/49 | €921,505 | €721,112 | -€200,393 | -21.7% |
| Equity | 10/15 | €778,270 | €622,962 | -€155,308 | -20.0% |
| Contributions | 10/11 | €132,000 | €132,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €646,270 | €490,962 | -€155,308 | -24.0% |
| Amounts payable | 17/49 | €143,235 | €98,150 | -€45,085 | -31.5% |
| Amounts payable within one year | 42/48 | €143,206 | €98,150 | -€45,056 | -31.5% |
| Trade debts | 44 | €143,206 | €87,230 | -€55,976 | -39.1% |
| Suppliers | 440/4 | €143,206 | €87,230 | -€55,976 | -39.1% |
| Taxes, remuneration and social security | 45 | - | €10,920 | +€10,920 | |
| Taxes | 450/3 | - | €10,920 | +€10,920 | |
| Accrued charges and deferred income | 492/3 | €29 | - | -€29 | |
| Non-recurring operating income | 76A | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,242 | €9,968 | +€726 | +7.9% |
| Other operating charges | 640/8 | €19,519 | €5,367 | -€14,153 | -72.5% |
| Non-recurring operating charges | 66A | €196 | - | -€196 | |
| Gross operating margin | 9900 | -€41,617 | -€139,815 | -€98,198 | -236% |
| Operating profit (loss) | 9901 | -€70,574 | -€155,150 | -€84,576 | -120% |
| Financial income | 75/76B | €2,376 | €205 | -€2,171 | -91.4% |
| Recurring financial income | 75 | €2,376 | €205 | -€2,171 | -91.4% |
| Financial charges | 65/66B | €260 | €363 | +€104 | +39.9% |
| Recurring financial charges | 65 | €260 | €363 | +€104 | +39.9% |
| Profit (loss) for the period before taxes | 9903 | -€68,458 | -€155,308 | -€86,850 | -127% |
| Income taxes | 67/77 | €3,157 | - | -€3,157 | |
| Profit (loss) for the period | 9904 | -€71,615 | -€155,308 | -€83,693 | -117% |
| Profit (loss) for the period to be appropriated | 9905 | -€71,615 | -€155,308 | -€83,693 | -117% |
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 29 October 2026 via checked.be.