ProJecT: 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
Largest movements
- Cash +€673,488
up €673,488 (+184.7%), from €364,687 to €1.0m
mainly Other debts (+€730,585) and Net result for the year (+€584,823)
- Other debts +€730,585
up €730,585 (+2216.0%), from €32,969 to €763,553
- Reserves -€250,000
no longer reported in 2025 (was €250,000)
- Tax, wage and social debts +€193,513
up €193,513 (+217.7%), from €88,907 to €282,420
- Gross operating margin +€430,306
up €430,306 (+123.8%), from €347,492 to €777,798
- Taxes +€106,653
up €106,653 (+129.7%), from €82,212 to €188,865
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 | €383,738 | €1,052,073 | +€668,335 | +174.2% |
| Current assets | 29/58 | €383,738 | €1,052,073 | +€668,335 | +174.2% |
| Amounts receivable within one year | 40/41 | €19,051 | €13,899 | -€5,153 | -27.0% |
| Trade receivables | 40 | €5,264 | €5,264 | = | 0.0% |
| Other amounts receivable | 41 | €13,788 | €8,635 | -€5,153 | -37.4% |
| Cash at bank and in hand | 54/58 | €364,687 | €1,038,175 | +€673,488 | +184.7% |
| Total equity and liabilities | 10/49 | €383,738 | €1,052,073 | +€668,335 | +174.2% |
| Equity | 10/15 | €258,512 | €3,334 | -€255,177 | -98.7% |
| Contributions | 10/11 | €60 | €60 | = | 0.0% |
| Reserves | 13 | €250,000 | - | -€250,000 | |
| Distributable reserves | 133 | €250,000 | - | -€250,000 | |
| Profit (loss) carried forward | 14 | €8,452 | €3,274 | -€5,177 | -61.3% |
| Amounts payable | 17/49 | €125,226 | €1,048,739 | +€923,513 | +737.5% |
| Amounts payable within one year | 42/48 | €125,226 | €1,048,739 | +€923,513 | +737.5% |
| Trade debts | 44 | €3,351 | €2,766 | -€585 | -17.5% |
| Suppliers | 440/4 | €3,351 | €2,766 | -€585 | -17.5% |
| Taxes, remuneration and social security | 45 | €88,907 | €282,420 | +€193,513 | +217.7% |
| Taxes | 450/3 | €88,907 | €282,420 | +€193,513 | +217.7% |
| Other amounts payable | 47/48 | €32,969 | €763,553 | +€730,585 | +2216.0% |
| Other operating charges | 640/8 | €578 | €1,565 | +€986 | +170.6% |
| Gross operating margin | 9900 | €347,492 | €777,798 | +€430,306 | +123.8% |
| Operating profit (loss) | 9901 | €346,913 | €776,233 | +€429,320 | +123.8% |
| Financial charges | 65/66B | €3,023 | €2,546 | -€477 | -15.8% |
| Recurring financial charges | 65 | €3,023 | €2,546 | -€477 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €343,891 | €773,687 | +€429,796 | +125.0% |
| Income taxes | 67/77 | €82,212 | €188,865 | +€106,653 | +129.7% |
| Profit (loss) for the period | 9904 | €261,679 | €584,823 | +€323,144 | +123.5% |
| Profit (loss) for the period to be appropriated | 9905 | €261,679 | €584,823 | +€323,144 | +123.5% |
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.