P4P - PASSION FOR PROJECTS: what changed
P4P - PASSION FOR PROJECTS
Largest movements
- Current investments -€3,684
down €3,684 (-3.3%), from €110,851 to €107,167
- Cash -€1,942
down €1,942 (-26.7%), from €7,262 to €5,320
mainly Net result for the year (-€5,579) and Receivables within one year (-€46)
- Reserves -€5,579
down €5,579 (-4.9%), from €112,727 to €107,148
- Financial charges +€5,800
up €5,800 (+5,992%), from €97 to €5,897
- Financial income -€2,645
down €2,645 (-56.5%), from €4,686 to €2,040
- Gross operating margin -€192
down €192 (-17.9%), from -€1,069 to -€1,261
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €119,261 | €113,682 | -€5,579 | -4.7% |
| Current assets | 29/58 | €119,261 | €113,682 | -€5,579 | -4.7% |
| Amounts receivable within one year | 40/41 | €1,148 | €1,195 | +€46 | +4.0% |
| Other amounts receivable | 41 | €1,148 | €1,195 | +€46 | +4.0% |
| Current investments | 50/53 | €110,851 | €107,167 | -€3,684 | -3.3% |
| Cash at bank and in hand | 54/58 | €7,262 | €5,320 | -€1,942 | -26.7% |
| Total equity and liabilities | 10/49 | €119,261 | €113,682 | -€5,579 | -4.7% |
| Equity | 10/15 | €119,027 | €113,448 | -€5,579 | -4.7% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €112,727 | €107,148 | -€5,579 | -4.9% |
| Distributable reserves | 133 | €112,727 | €107,148 | -€5,579 | -4.9% |
| Amounts payable | 17/49 | €234 | €234 | = | 0.0% |
| Amounts payable within one year | 42/48 | €234 | €234 | = | 0.0% |
| Other amounts payable | 47/48 | €234 | €234 | = | 0.0% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | -€1,069 | -€1,261 | -€192 | -17.9% |
| Operating profit (loss) | 9901 | -€1,519 | -€1,723 | -€204 | -13.4% |
| Financial income | 75/76B | €4,686 | €2,040 | -€2,645 | -56.5% |
| Recurring financial income | 75 | €4,686 | €2,040 | -€2,645 | -56.5% |
| Financial charges | 65/66B | €97 | €5,897 | +€5,800 | +5,992% |
| Recurring financial charges | 65 | €97 | €5,897 | +€5,800 | +5,992% |
| Profit (loss) for the period before taxes | 9903 | €3,070 | -€5,579 | -€8,650 | |
| Profit (loss) for the period | 9904 | €3,070 | -€5,579 | -€8,650 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,070 | -€5,579 | -€8,650 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.