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.
PROJECT
Largest movements
- Cash -€9,079
down €9,079 (-12.1%), from €74,842 to €65,763
mainly Net result for the year (-€18,491) and Trade debts (-€980)
- Tangible fixed assets -€3,897
down €3,897 (-9.1%), from €43,024 to €39,127
of which Land and buildings: -€7,415
- Stocks and contracts -€3,425
down €3,425 (-100.0%), from €3,425 to €0
- Intangible fixed assets -€2,001
down €2,001 (-21.4%), from €9,330 to €7,330
- Profit (loss) carried forward -€18,491
down €18,491 (-55.0%), from €33,638 to €15,147
- Other debts +€2,762
up €2,762 (+19.9%), from €13,878 to €16,641
- Purchases and services +€28,921
new in 2025: €28,921
- Gross operating margin -€18,854
down €18,854, from €7,297 to -€11,557
- Turnover +€15,475
new in 2025: €15,475
- Other operating charges -€3,907
down €3,907 (-70.1%), from €5,577 to €1,669
- Financial income +€262
up €262 (+43.6%), from €602 to €864
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 | €131,834 | €114,081 | -€17,754 | -13.5% |
| Fixed assets | 21/28 | €52,354 | €46,457 | -€5,897 | -11.3% |
| Intangible fixed assets | 21 | €9,330 | €7,330 | -€2,001 | -21.4% |
| Tangible fixed assets | 22/27 | €43,024 | €39,127 | -€3,897 | -9.1% |
| Land and buildings | 22 | €42,802 | €35,387 | -€7,415 | -17.3% |
| Plant, machinery and equipment | 23 | €222 | €3,740 | +€3,518 | +1584.8% |
| Current assets | 29/58 | €79,480 | €67,624 | -€11,856 | -14.9% |
| Stocks and contracts in progress | 3 | €3,425 | €0 | -€3,425 | -100.0% |
| Stocks | 30/36 | €3,425 | €0 | -€3,425 | -100.0% |
| Amounts receivable within one year | 40/41 | €432 | €1,186 | +€754 | +174.6% |
| Trade receivables | 40 | €401 | €0 | -€401 | -100.0% |
| Other amounts receivable | 41 | €31 | €1,186 | +€1,155 | +3755.3% |
| Cash at bank and in hand | 54/58 | €74,842 | €65,763 | -€9,079 | -12.1% |
| Deferred charges and accrued income | 490/1 | €782 | €675 | -€106 | -13.6% |
| Total equity and liabilities | 10/49 | €131,834 | €114,081 | -€17,754 | -13.5% |
| Equity | 10/15 | €111,838 | €93,347 | -€18,491 | -16.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €16,200 | €16,200 | = | 0.0% |
| Distributable reserves | 133 | €16,200 | €16,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,638 | €15,147 | -€18,491 | -55.0% |
| Amounts payable | 17/49 | €19,996 | €20,734 | +€738 | +3.7% |
| Amounts payable within one year | 42/48 | €18,379 | €19,908 | +€1,529 | +8.3% |
| Trade debts | 44 | €3,477 | €2,497 | -€980 | -28.2% |
| Suppliers | 440/4 | €3,477 | €2,497 | -€980 | -28.2% |
| Advances received on contracts in progress | 46 | €863 | €0 | -€863 | -100.0% |
| Taxes, remuneration and social security | 45 | €160 | €770 | +€610 | +381.3% |
| Taxes | 450/3 | €160 | €770 | +€610 | +381.3% |
| Other amounts payable | 47/48 | €13,878 | €16,641 | +€2,762 | +19.9% |
| Accrued charges and deferred income | 492/3 | €1,617 | €826 | -€791 | -48.9% |
| Turnover | 70 | - | €15,475 | +€15,475 | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €28,921 | +€28,921 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,009 | €5,897 | -€111 | -1.9% |
| Other operating charges | 640/8 | €5,577 | €1,669 | -€3,907 | -70.1% |
| Gross operating margin | 9900 | €7,297 | -€11,557 | -€18,854 | |
| Operating profit (loss) | 9901 | -€4,288 | -€19,124 | -€14,836 | -346.0% |
| Financial income | 75/76B | €602 | €864 | +€262 | +43.6% |
| Recurring financial income | 75 | €602 | €864 | +€262 | +43.6% |
| Financial charges | 65/66B | €235 | €70 | -€165 | -70.2% |
| Recurring financial charges | 65 | €235 | €70 | -€165 | -70.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,921 | -€18,329 | -€14,408 | -367.5% |
| Income taxes | 67/77 | €163 | €162 | -€1 | -0.5% |
| Profit (loss) for the period | 9904 | -€4,084 | -€18,491 | -€14,408 | -352.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,084 | -€18,491 | -€14,408 | -352.8% |
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 28 September 2026 via checked.be.