P+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+PROJECTS
Largest movements
- Cash -€21,104
down €21,104 (-84.7%), from €24,913 to €3,809
mainly Net result for the year (-€20,426) and Receivables within one year (-€4,487)
- Receivables within one year +€4,487
up €4,487 (+14.1%), from €31,807 to €36,294
of which Other amounts receivable: +€4,487
- Profit (loss) carried forward -€20,426
down €20,426, from €1,514 to -€18,912
- Trade debts +€3,600
up €3,600 (+25.6%), from €14,090 to €17,690
- Gross operating margin -€19,020
new in 2025: -€19,020
- Financial charges +€1,201
new in 2025: €1,201
- Other operating charges +€209
new in 2025: €209
From the 2024 result to the 2025 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
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 | €57,133 | €40,307 | -€16,826 | -29.5% |
| Current assets | 29/58 | €57,133 | €40,307 | -€16,826 | -29.5% |
| Amounts receivable within one year | 40/41 | €31,807 | €36,294 | +€4,487 | +14.1% |
| Trade receivables | 40 | €24,771 | €24,771 | = | 0.0% |
| Other amounts receivable | 41 | €7,036 | €11,523 | +€4,487 | +63.8% |
| Cash at bank and in hand | 54/58 | €24,913 | €3,809 | -€21,104 | -84.7% |
| Deferred charges and accrued income | 490/1 | €413 | €204 | -€209 | -50.6% |
| Total equity and liabilities | 10/49 | €57,133 | €40,307 | -€16,826 | -29.5% |
| Equity | 10/15 | €40,860 | €20,434 | -€20,426 | -50.0% |
| Contributions | 10/11 | €16,000 | €16,000 | = | 0.0% |
| Reserves | 13 | €23,346 | €23,346 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €21,486 | €21,486 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,514 | -€18,912 | -€20,426 | |
| Amounts payable | 17/49 | €16,274 | €19,874 | +€3,600 | +22.1% |
| Amounts payable within one year | 42/48 | €16,274 | €19,874 | +€3,600 | +22.1% |
| Trade debts | 44 | €14,090 | €17,690 | +€3,600 | +25.6% |
| Suppliers | 440/4 | €14,090 | €17,690 | +€3,600 | +25.6% |
| Other amounts payable | 47/48 | €2,184 | €2,184 | = | 0.0% |
| Other operating charges | 640/8 | - | €209 | +€209 | |
| Gross operating margin | 9900 | - | -€19,020 | -€19,020 | |
| Operating profit (loss) | 9901 | - | -€19,229 | -€19,229 | |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | - | €1,201 | +€1,201 | |
| Recurring financial charges | 65 | - | €1,201 | +€1,201 | |
| Profit (loss) for the period before taxes | 9903 | - | -€20,426 | -€20,426 | |
| Profit (loss) for the period | 9904 | - | -€20,426 | -€20,426 | |
| Profit (loss) for the period to be appropriated | 9905 | - | -€20,426 | -€20,426 |
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 8 October 2026 via checked.be.