ON TRACK 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.
ON TRACK PROJECTS
Largest movements
- Cash +€38,097
up €38,097 (+32.3%), from €118,023 to €156,119
mainly Net result for the year (+€111,482) and Receivables within one year (+€8,407)
- Receivables within one year -€8,407
down €8,407 (-31.5%), from €26,654 to €18,246
of which Other amounts receivable: -€13,108
- Tangible fixed assets +€2,978
up €2,978 (+903.3%), from €330 to €3,307
of which Other tangible fixed assets: +€3,057
- Reserves +€102,922
up €102,922 (+230.4%), from €44,662 to €147,585
- Other debts -€78,434
down €78,434 (-97.9%), from €80,111 to €1,677
- Tax, wage and social debts +€7,923
up €7,923 (+222.6%), from €3,560 to €11,483
of which Taxes: +€7,923
- Gross operating margin +€43,327
up €43,327 (+42.1%), from €102,857 to €146,184
- Taxes +€10,907
up €10,907 (+50.2%), from €21,717 to €32,623
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 | €147,566 | €180,336 | +€32,770 | +22.2% |
| Fixed assets | 21/28 | €330 | €3,307 | +€2,978 | +903.3% |
| Tangible fixed assets | 22/27 | €330 | €3,307 | +€2,978 | +903.3% |
| Furniture and vehicles | 24 | €80 | €0 | -€80 | -100.0% |
| Other tangible fixed assets | 26 | €250 | €3,307 | +€3,057 | +1223.0% |
| Current assets | 29/58 | €147,237 | €177,029 | +€29,792 | +20.2% |
| Amounts receivable within one year | 40/41 | €26,654 | €18,246 | -€8,407 | -31.5% |
| Trade receivables | 40 | €12,918 | €17,619 | +€4,701 | +36.4% |
| Other amounts receivable | 41 | €13,735 | €627 | -€13,108 | -95.4% |
| Cash at bank and in hand | 54/58 | €118,023 | €156,119 | +€38,097 | +32.3% |
| Deferred charges and accrued income | 490/1 | €2,560 | €2,663 | +€103 | +4.0% |
| Total equity and liabilities | 10/49 | €147,566 | €180,336 | +€32,770 | +22.2% |
| Equity | 10/15 | €63,212 | €166,135 | +€102,922 | +162.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €44,662 | €147,585 | +€102,922 | +230.4% |
| Distributable reserves | 133 | €44,662 | €147,585 | +€102,922 | +230.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €84,354 | €14,201 | -€70,153 | -83.2% |
| Amounts payable within one year | 42/48 | €84,354 | €14,201 | -€70,153 | -83.2% |
| Financial debts | 43 | €363 | €184 | -€179 | -49.3% |
| Credit institutions | 430/8 | €363 | €184 | -€179 | -49.3% |
| Trade debts | 44 | €320 | €857 | +€537 | +168.0% |
| Suppliers | 440/4 | €320 | €857 | +€537 | +168.0% |
| Taxes, remuneration and social security | 45 | €3,560 | €11,483 | +€7,923 | +222.6% |
| Taxes | 450/3 | €0 | €7,923 | +€7,923 | |
| Remuneration and social security | 454/9 | €3,560 | €3,560 | = | 0.0% |
| Other amounts payable | 47/48 | €80,111 | €1,677 | -€78,434 | -97.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €856 | €509 | -€347 | -40.5% |
| Other operating charges | 640/8 | €1,098 | €1,004 | -€94 | -8.6% |
| Gross operating margin | 9900 | €102,857 | €146,184 | +€43,327 | +42.1% |
| Operating profit (loss) | 9901 | €100,903 | €144,670 | +€43,767 | +43.4% |
| Financial income | 75/76B | €0 | €6 | +€6 | +3866.7% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +3866.7% |
| Financial charges | 65/66B | €365 | €570 | +€205 | +56.2% |
| Recurring financial charges | 65 | €365 | €570 | +€205 | +56.2% |
| Profit (loss) for the period before taxes | 9903 | €100,538 | €144,106 | +€43,568 | +43.3% |
| Income taxes | 67/77 | €21,717 | €32,623 | +€10,907 | +50.2% |
| Profit (loss) for the period | 9904 | €78,821 | €111,482 | +€32,661 | +41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €78,821 | €111,482 | +€32,661 | +41.4% |
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 4 October 2026 via checked.be.