PLUS 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.
PLUS PROJECTS
Largest movements
- Receivables within one year -€83,948
down €83,948 (-28.7%), from €292,484 to €208,536
of which Trade receivables: -€221,550
- Deferred charges and accrued income -€32,589
down €32,589 (-90.0%), from €36,213 to €3,624
- Cash -€27,223
down €27,223 (-55.7%), from €48,897 to €21,675
mainly Other debts (-€102,059) and Trade debts (-€59,488)
- Tangible fixed assets -€19,889
down €19,889 (-19.0%), from €104,639 to €84,750
of which Furniture and vehicles: -€17,763
- Other debts -€102,059
down €102,059 (-52.5%), from €194,238 to €92,179
- Trade debts -€59,488
down €59,488 (-55.9%), from €106,348 to €46,860
- Debts after one year -€12,356
down €12,356 (-30.5%), from €40,450 to €28,094
- Profit (loss) carried forward +€10,404
up €10,404 (+12.8%), from €81,545 to €91,950
- Gross operating margin -€51,216
down €51,216 (-55.4%), from €92,372 to €41,156
- Taxes -€15,790
down €15,790 (-82.2%), from €19,221 to €3,431
- Other operating charges +€3,144
up €3,144 (+204.6%), from €1,537 to €4,681
- Depreciation -€2,003
down €2,003 (-8.4%), from €23,759 to €21,756
- Financial charges +€1,018
up €1,018 (+92.6%), from €1,099 to €2,117
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 | €483,004 | €319,356 | -€163,648 | -33.9% |
| Fixed assets | 21/28 | €105,410 | €85,521 | -€19,889 | -18.9% |
| Tangible fixed assets | 22/27 | €104,639 | €84,750 | -€19,889 | -19.0% |
| Plant, machinery and equipment | 23 | €1,096 | €751 | -€345 | -31.5% |
| Furniture and vehicles | 24 | €94,769 | €77,006 | -€17,763 | -18.7% |
| Other tangible fixed assets | 26 | €8,774 | €6,994 | -€1,780 | -20.3% |
| Financial fixed assets | 28 | €771 | €771 | = | 0.0% |
| Current assets | 29/58 | €377,595 | €233,835 | -€143,759 | -38.1% |
| Amounts receivable within one year | 40/41 | €292,484 | €208,536 | -€83,948 | -28.7% |
| Trade receivables | 40 | €271,883 | €50,333 | -€221,550 | -81.5% |
| Other amounts receivable | 41 | €20,601 | €158,203 | +€137,602 | +667.9% |
| Cash at bank and in hand | 54/58 | €48,897 | €21,675 | -€27,223 | -55.7% |
| Deferred charges and accrued income | 490/1 | €36,213 | €3,624 | -€32,589 | -90.0% |
| Total equity and liabilities | 10/49 | €483,004 | €319,356 | -€163,648 | -33.9% |
| Equity | 10/15 | €105,120 | €115,524 | +€10,404 | +9.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €17,375 | €17,375 | = | 0.0% |
| Distributable reserves | 133 | €17,375 | €17,375 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,545 | €91,950 | +€10,404 | +12.8% |
| Amounts payable | 17/49 | €377,884 | €203,832 | -€174,052 | -46.1% |
| Amounts payable after more than one year | 17 | €40,450 | €28,094 | -€12,356 | -30.5% |
| Financial debts | 170/4 | €40,450 | €28,094 | -€12,356 | -30.5% |
| Amounts payable within one year | 42/48 | €337,434 | €175,738 | -€161,697 | -47.9% |
| Current portion of amounts payable after more than one year | 42 | €16,165 | €12,356 | -€3,809 | -23.6% |
| Financial debts | 43 | €917 | €0 | -€917 | -100.0% |
| Credit institutions | 430/8 | €917 | €0 | -€917 | -100.0% |
| Trade debts | 44 | €106,348 | €46,860 | -€59,488 | -55.9% |
| Suppliers | 440/4 | €106,348 | €46,860 | -€59,488 | -55.9% |
| Taxes, remuneration and social security | 45 | €19,766 | €24,343 | +€4,577 | +23.2% |
| Taxes | 450/3 | €19,766 | €19,640 | -€127 | -0.6% |
| Remuneration and social security | 454/9 | €0 | €4,704 | +€4,704 | |
| Other amounts payable | 47/48 | €194,238 | €92,179 | -€102,059 | -52.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,759 | €21,756 | -€2,003 | -8.4% |
| Other operating charges | 640/8 | €1,537 | €4,681 | +€3,144 | +204.6% |
| Gross operating margin | 9900 | €92,372 | €41,156 | -€51,216 | -55.4% |
| Operating profit (loss) | 9901 | €67,076 | €14,719 | -€52,357 | -78.1% |
| Financial income | 75/76B | €1,889 | €1,233 | -€656 | -34.7% |
| Recurring financial income | 75 | €1,889 | €1,233 | -€656 | -34.7% |
| Financial charges | 65/66B | €1,099 | €2,117 | +€1,018 | +92.6% |
| Recurring financial charges | 65 | €1,099 | €2,117 | +€1,018 | +92.6% |
| Profit (loss) for the period before taxes | 9903 | €67,866 | €13,835 | -€54,031 | -79.6% |
| Income taxes | 67/77 | €19,221 | €3,431 | -€15,790 | -82.2% |
| Profit (loss) for the period | 9904 | €48,645 | €10,404 | -€38,240 | -78.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,645 | €10,404 | -€38,240 | -78.6% |
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 12 October 2026 via checked.be.