P&P 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.
P&P Projects
Largest movements
- Receivables within one year -€404,888
down €404,888 (-29.8%), from €1.4m to €953,348
of which Other amounts receivable: -€396,704
- Current portion of long-term debt -€248,408
no longer reported in 2025 (was €248,408)
- Other debts -€101,062
down €101,062 (-14.7%), from €688,332 to €587,271
- Profit (loss) carried forward -€54,304
down €54,304, from €22,444 to -€31,860
- Financial charges +€40,767
up €40,767 (+8774.3%), from €465 to €41,232
of which Non-recurring financial charges: +€40,495
- Gross operating margin +€6,958
up €6,958 (+64.1%), from -€10,859 to -€3,902
- Other operating charges +€6,766
up €6,766 (+266.7%), from €2,537 to €9,303
- Staff costs -€1,268
down €1,268 (-100.0%), from €1,268 to €0
- Depreciation -€591
no longer reported in 2025 (was €591)
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 | €1,508,236 | €1,105,084 | -€403,152 | -26.7% |
| Fixed assets | 21/28 | €150,000 | €150,000 | = | 0.0% |
| Financial fixed assets | 28 | €150,000 | €150,000 | = | 0.0% |
| Current assets | 29/58 | €1,358,236 | €955,084 | -€403,152 | -29.7% |
| Amounts receivable within one year | 40/41 | €1,358,236 | €953,348 | -€404,888 | -29.8% |
| Trade receivables | 40 | €958,807 | €950,623 | -€8,184 | -0.9% |
| Other amounts receivable | 41 | €399,428 | €2,725 | -€396,704 | -99.3% |
| Cash at bank and in hand | 54/58 | - | €1,736 | +€1,736 | |
| Total equity and liabilities | 10/49 | €1,508,236 | €1,105,084 | -€403,152 | -26.7% |
| Equity | 10/15 | €42,444 | -€11,860 | -€54,304 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,444 | -€31,860 | -€54,304 | |
| Amounts payable | 17/49 | €1,465,792 | €1,116,943 | -€348,849 | -23.8% |
| Amounts payable within one year | 42/48 | €1,465,792 | €1,116,943 | -€348,849 | -23.8% |
| Current portion of amounts payable after more than one year | 42 | €248,408 | - | -€248,408 | |
| Financial debts | 43 | €33 | - | -€33 | |
| Credit institutions | 430/8 | €33 | - | -€33 | |
| Trade debts | 44 | €529,019 | €529,673 | +€654 | +0.1% |
| Suppliers | 440/4 | €529,019 | €529,673 | +€654 | +0.1% |
| Other amounts payable | 47/48 | €688,332 | €587,271 | -€101,062 | -14.7% |
| Non-recurring operating income | 76A | €2,505 | €2,677 | +€172 | +6.9% |
| Remuneration, social security and pensions | 62 | €1,268 | €0 | -€1,268 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €591 | - | -€591 | |
| Other operating charges | 640/8 | €2,537 | €9,303 | +€6,766 | +266.7% |
| Gross operating margin | 9900 | -€10,859 | -€3,902 | +€6,958 | +64.1% |
| Operating profit (loss) | 9901 | -€15,255 | -€13,205 | +€2,050 | +13.4% |
| Financial income | 75/76B | €712 | €133 | -€579 | -81.3% |
| Recurring financial income | 75 | €712 | €133 | -€579 | -81.3% |
| Financial charges | 65/66B | €465 | €41,232 | +€40,767 | +8774.3% |
| Recurring financial charges | 65 | €465 | €737 | +€272 | +58.6% |
| Non-recurring financial charges | 66B | - | €40,495 | +€40,495 | |
| Profit (loss) for the period before taxes | 9903 | -€15,008 | -€54,304 | -€39,295 | -261.8% |
| Profit (loss) for the period | 9904 | -€15,008 | -€54,304 | -€39,295 | -261.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,008 | -€54,304 | -€39,295 | -261.8% |
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 9 October 2026 via checked.be.