P&M 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.
P&M Projects
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€55,640
down €55,640, from €53,797 to -€1,843
- Taxes -€11,238
down €11,238 (-100.0%), from €11,238 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 | €282,746 | €280,461 | -€2,285 | -0.8% |
| Current assets | 29/58 | €282,746 | €280,461 | -€2,285 | -0.8% |
| Stocks and contracts in progress | 3 | €219,989 | €219,989 | = | 0.0% |
| Stocks | 30/36 | €219,989 | €219,989 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €50,862 | €50,862 | = | 0.0% |
| Other amounts receivable | 41 | €50,862 | €50,862 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,895 | €9,610 | -€2,285 | -19.2% |
| Total equity and liabilities | 10/49 | €282,746 | €280,461 | -€2,285 | -0.8% |
| Equity | 10/15 | €271,508 | €269,224 | -€2,285 | -0.8% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,508 | €69,224 | -€2,285 | -3.2% |
| Amounts payable | 17/49 | €11,238 | €11,238 | = | 0.0% |
| Amounts payable within one year | 42/48 | €11,238 | €11,238 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €11,238 | €11,238 | = | 0.0% |
| Taxes | 450/3 | €11,238 | €11,238 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €53,797 | -€1,843 | -€55,640 | |
| Operating profit (loss) | 9901 | €53,410 | -€2,243 | -€55,653 | |
| Financial charges | 65/66B | €42 | €42 | = | 0.0% |
| Recurring financial charges | 65 | €42 | €42 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €53,368 | -€2,285 | -€55,653 | |
| Income taxes | 67/77 | €11,238 | €0 | -€11,238 | -100.0% |
| Profit (loss) for the period | 9904 | €42,131 | -€2,285 | -€44,415 | |
| Profit (loss) for the period to be appropriated | 9905 | €42,131 | -€2,285 | -€44,415 |
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 6 October 2026 via checked.be.