Project 01: 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.
Project 01
Largest movements
- Receivables within one year +€11,126
up €11,126 (+64.2%), from €17,320 to €28,447
of which Trade receivables: +€5,638
- Current investments +€1,205
up €1,205 (+2.0%), from €59,018 to €60,223
- Reserves +€14,722
up €14,722 (+26.3%), from €55,957 to €70,680
- Tax, wage and social debts -€2,984
down €2,984 (-21.0%), from €14,243 to €11,259
- Gross operating margin -€5,027
down €5,027 (-9.8%), from €51,185 to €46,158
- Taxes -€4,219
down €4,219 (-38.4%), from €10,988 to €6,769
- Depreciation -€4,017
down €4,017 (-100%), from €4,017 to €0
- Financial income +€828
new in 2025: €828
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.
Derived cash bridge
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 | €76,920 | €89,123 | +€12,204 | +15.9% |
| Current assets | 29/58 | €76,920 | €89,123 | +€12,204 | +15.9% |
| Amounts receivable within one year | 40/41 | €17,320 | €28,447 | +€11,126 | +64.2% |
| Trade receivables | 40 | €9,608 | €15,246 | +€5,638 | +58.7% |
| Other amounts receivable | 41 | €7,712 | €13,201 | +€5,489 | +71.2% |
| Current investments | 50/53 | €59,018 | €60,223 | +€1,205 | +2.0% |
| Cash at bank and in hand | 54/58 | €582 | €454 | -€128 | -21.9% |
| Total equity and liabilities | 10/49 | €76,920 | €89,123 | +€12,204 | +15.9% |
| Equity | 10/15 | €62,164 | €76,887 | +€14,722 | +23.7% |
| Contributions | 10/11 | €6,207 | €6,207 | = | 0.0% |
| Reserves | 13 | €55,957 | €70,680 | +€14,722 | +26.3% |
| Distributable reserves | 133 | €55,957 | €70,680 | +€14,722 | +26.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €14,755 | €12,237 | -€2,519 | -17.1% |
| Amounts payable within one year | 42/48 | €14,755 | €12,237 | -€2,519 | -17.1% |
| Trade debts | 44 | €426 | €116 | -€310 | -72.7% |
| Suppliers | 440/4 | €426 | €116 | -€310 | -72.7% |
| Taxes, remuneration and social security | 45 | €14,243 | €11,259 | -€2,984 | -21.0% |
| Taxes | 450/3 | €14,243 | €11,259 | -€2,984 | -21.0% |
| Other amounts payable | 47/48 | €87 | €862 | +€775 | +893% |
| Non-recurring operating income | 76A | - | €1,267 | +€1,267 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,017 | €0 | -€4,017 | -100% |
| Other operating charges | 640/8 | €1,460 | €1,419 | -€42 | -2.9% |
| Gross operating margin | 9900 | €51,185 | €46,158 | -€5,027 | -9.8% |
| Operating profit (loss) | 9901 | €45,707 | €44,739 | -€968 | -2.1% |
| Financial income | 75/76B | - | €828 | +€828 | |
| Recurring financial income | 75 | - | €828 | +€828 | |
| Financial charges | 65/66B | €180 | €369 | +€189 | +105% |
| Recurring financial charges | 65 | €180 | €369 | +€189 | +105% |
| Profit (loss) for the period before taxes | 9903 | €45,527 | €45,198 | -€329 | -0.7% |
| Income taxes | 67/77 | €10,988 | €6,769 | -€4,219 | -38.4% |
| Profit (loss) for the period | 9904 | €34,540 | €38,430 | +€3,890 | +11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,540 | €38,430 | +€3,890 | +11.3% |
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 17 October 2026 via checked.be.