PR PROJECT: 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.
PR PROJECT
Largest movements
- Stocks and contracts +€301,623
up €301,623 (+16.3%), from €1.8m to €2.2m
- Receivables within one year -€59,633
down €59,633 (-95.5%), from €62,435 to €2,801
of which Other amounts receivable: -€60,466
- Accrued charges and deferred income +€152,316
up €152,316 (+126.4%), from €120,522 to €272,839
- Contributions +€50,000
up €50,000 (+81.3%), from €61,500 to €111,500
- Trade debts +€42,516
up €42,516 (+68.4%), from €62,137 to €104,653
- Goods and materials -€1.3m
no longer reported in 2025 (was €1.3m)
- Services and other goods -€14,085
no longer reported in 2025 (was €14,085)
- Gross operating margin -€13,253
new in 2025: -€13,253
- Financial income -€1,393
down €1,393 (-100.0%), from €1,393 to €0
- Other operating charges +€577
up €577 (+115.6%), from €499 to €1,077
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 | €2,032,168 | €2,262,225 | +€230,056 | +11.3% |
| Current assets | 29/58 | €2,032,168 | €2,262,225 | +€230,056 | +11.3% |
| Stocks and contracts in progress | 3 | €1,849,295 | €2,150,918 | +€301,623 | +16.3% |
| Stocks | 30/36 | €1,849,295 | €2,150,918 | +€301,623 | +16.3% |
| Property held for sale | 35 | €1,849,295 | - | -€1.8m | |
| Amounts receivable within one year | 40/41 | €62,435 | €2,801 | -€59,633 | -95.5% |
| Trade receivables | 40 | €218 | €1,051 | +€833 | +382.4% |
| Other amounts receivable | 41 | €62,217 | €1,750 | -€60,466 | -97.2% |
| Cash at bank and in hand | 54/58 | €87,133 | €74,135 | -€12,998 | -14.9% |
| Deferred charges and accrued income | 490/1 | €33,305 | €34,371 | +€1,065 | +3.2% |
| Total equity and liabilities | 10/49 | €2,032,168 | €2,262,225 | +€230,056 | +11.3% |
| Equity | 10/15 | €44,509 | €79,733 | +€35,225 | +79.1% |
| Contributions | 10/11 | €61,500 | €111,500 | +€50,000 | +81.3% |
| Capital | 10 | €61,500 | €111,500 | +€50,000 | +81.3% |
| Issued capital | 100 | €61,500 | €261,500 | +€200,000 | +325.2% |
| Uncalled capital | 101 | - | €150,000 | +€150,000 | |
| Profit (loss) carried forward | 14 | -€16,991 | -€31,767 | -€14,775 | -87.0% |
| Amounts payable | 17/49 | €1,987,660 | €2,182,492 | +€194,832 | +9.8% |
| Amounts payable after more than one year | 17 | €1,805,000 | €1,805,000 | = | 0.0% |
| Financial debts | 170/4 | €1,805,000 | €1,805,000 | = | 0.0% |
| Other loans | 174 | €1,805,000 | - | -€1.8m | |
| Amounts payable within one year | 42/48 | €62,137 | €104,653 | +€42,516 | +68.4% |
| Trade debts | 44 | €62,137 | €104,653 | +€42,516 | +68.4% |
| Suppliers | 440/4 | €62,137 | €104,653 | +€42,516 | +68.4% |
| Accrued charges and deferred income | 492/3 | €120,522 | €272,839 | +€152,316 | +126.4% |
| Operating income | 70/76A | €1,337,066 | - | -€1.3m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,337,066 | - | -€1.3m | |
| Operating charges | 60/66A | €1,351,650 | - | -€1.4m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €163,458 | +€163,458 | |
| Goods for resale, raw materials and consumables | 60 | €1,337,066 | - | -€1.3m | |
| Purchases | 600/8 | €1,337,066 | - | -€1.3m | |
| Services and other goods | 61 | €14,085 | - | -€14,085 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €499 | €1,077 | +€577 | +115.6% |
| Gross operating margin | 9900 | - | -€13,253 | -€13,253 | |
| Operating profit (loss) | 9901 | -€14,585 | -€14,329 | +€255 | +1.7% |
| Financial income | 75/76B | €1,393 | €0 | -€1,393 | -100.0% |
| Recurring financial income | 75 | €1,393 | €0 | -€1,393 | -100.0% |
| Income from current assets | 751 | €1,393 | - | -€1,393 | |
| Financial charges | 65/66B | €411 | €446 | +€35 | +8.5% |
| Recurring financial charges | 65 | €411 | €446 | +€35 | +8.5% |
| Other financial charges | 652/9 | €411 | - | -€411 | |
| Profit (loss) for the period before taxes | 9903 | -€13,602 | -€14,775 | -€1,173 | -8.6% |
| Profit (loss) for the period | 9904 | -€13,602 | -€14,775 | -€1,173 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,602 | -€14,775 | -€1,173 | -8.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.