PRO-OOJECT: 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.
PRO-OOJECT
Largest movements
- Tangible fixed assets +€128,882
up €128,882 (+28.0%), from €460,687 to €589,570
of which Land and buildings: +€141,619
- Cash -€11,661
down €11,661 (-15.6%), from €74,527 to €62,866
mainly Investment in fixed assets (net) (-€176,476) and Contributions, distributions and other (-€72,000)
- Receivables within one year -€8,888
down €8,888 (-35.4%), from €25,072 to €16,184
of which Other amounts receivable: -€8,888
- Debts after one year +€69,830
up €69,830 (+45.1%), from €154,678 to €224,509
- Other debts +€66,377
up €66,377 (+437.3%), from €15,180 to €81,557
- Current portion of long-term debt -€32,227
down €32,227 (-78.7%), from €40,925 to €8,698
- Accrued charges and deferred income -€14,199
down €14,199 (-94.3%), from €15,058 to €859
- Reserves +€10,116
up €10,116 (+3.1%), from €327,190 to €337,306
- Gross operating margin -€76,700
down €76,700 (-32.4%), from €236,958 to €160,258
- Taxes -€29,687
down €29,687 (-88.3%), from €33,615 to €3,928
- Other operating charges +€9,964
up €9,964 (+101.6%), from €9,809 to €19,773
- Depreciation -€4,912
down €4,912 (-9.4%), from €52,506 to €47,594
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 | €562,122 | €670,392 | +€108,270 | +19.3% |
| Fixed assets | 21/28 | €460,687 | €589,570 | +€128,882 | +28.0% |
| Tangible fixed assets | 22/27 | €460,687 | €589,570 | +€128,882 | +28.0% |
| Land and buildings | 22 | €447,951 | €589,570 | +€141,619 | +31.6% |
| Furniture and vehicles | 24 | €12,736 | €0 | -€12,736 | -100.0% |
| Current assets | 29/58 | €101,435 | €80,823 | -€20,613 | -20.3% |
| Amounts receivable within one year | 40/41 | €25,072 | €16,184 | -€8,888 | -35.4% |
| Trade receivables | 40 | €12,612 | €12,612 | +€0 | 0.0% |
| Other amounts receivable | 41 | €12,460 | €3,572 | -€8,888 | -71.3% |
| Cash at bank and in hand | 54/58 | €74,527 | €62,866 | -€11,661 | -15.6% |
| Deferred charges and accrued income | 490/1 | €1,837 | €1,772 | -€64 | -3.5% |
| Total equity and liabilities | 10/49 | €562,122 | €670,392 | +€108,270 | +19.3% |
| Equity | 10/15 | €329,690 | €339,806 | +€10,116 | +3.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €327,190 | €337,306 | +€10,116 | +3.1% |
| Distributable reserves | 133 | €327,190 | €337,306 | +€10,116 | +3.1% |
| Amounts payable | 17/49 | €232,432 | €330,587 | +€98,154 | +42.2% |
| Amounts payable after more than one year | 17 | €154,678 | €224,509 | +€69,830 | +45.1% |
| Financial debts | 170/4 | €154,678 | €224,509 | +€69,830 | +45.1% |
| Amounts payable within one year | 42/48 | €62,696 | €105,219 | +€42,523 | +67.8% |
| Current portion of amounts payable after more than one year | 42 | €40,925 | €8,698 | -€32,227 | -78.7% |
| Trade debts | 44 | €4,898 | €11,593 | +€6,695 | +136.7% |
| Suppliers | 440/4 | €4,898 | €11,593 | +€6,695 | +136.7% |
| Taxes, remuneration and social security | 45 | €1,693 | €3,371 | +€1,678 | +99.1% |
| Taxes | 450/3 | €1,693 | €3,371 | +€1,678 | +99.1% |
| Other amounts payable | 47/48 | €15,180 | €81,557 | +€66,377 | +437.3% |
| Accrued charges and deferred income | 492/3 | €15,058 | €859 | -€14,199 | -94.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,506 | €47,594 | -€4,912 | -9.4% |
| Other operating charges | 640/8 | €9,809 | €19,773 | +€9,964 | +101.6% |
| Gross operating margin | 9900 | €236,958 | €160,258 | -€76,700 | -32.4% |
| Operating profit (loss) | 9901 | €174,643 | €92,892 | -€81,752 | -46.8% |
| Financial income | 75/76B | €74 | €1,840 | +€1,767 | +2402.6% |
| Recurring financial income | 75 | €74 | €1,840 | +€1,767 | +2402.6% |
| Financial charges | 65/66B | €10,916 | €8,688 | -€2,227 | -20.4% |
| Recurring financial charges | 65 | €10,916 | €8,688 | -€2,227 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €163,801 | €86,044 | -€77,757 | -47.5% |
| Income taxes | 67/77 | €33,615 | €3,928 | -€29,687 | -88.3% |
| Profit (loss) for the period | 9904 | €130,186 | €82,116 | -€48,070 | -36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €130,186 | €82,116 | -€48,070 | -36.9% |
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 5 October 2026 via checked.be.