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
- Receivables within one year +€65,657
new in 2025: €65,657
of which Trade receivables: +€35,852
- Receivables after one year -€44,407
no longer reported in 2025 (was €44,407)
of which Other amounts receivable: -€26,614
- Tangible fixed assets -€21,859
down €21,859 (-71.7%), from €30,470 to €8,611
- Cash +€5,367
up €5,367 (+1140.0%), from €471 to €5,838
mainly Receivables after one year (+€44,407) and Investment in fixed assets (net) (+€19,570)
- Intangible fixed assets -€883
down €883 (-38.8%), from €2,278 to €1,395
- Profit (loss) carried forward +€5,359
up €5,359 (+9.9%), from €54,017 to €59,376
- Tax, wage and social debts -€3,164
down €3,164 (-17.1%), from €18,496 to €15,333
- Other debts +€2,112
new in 2025: €2,112
- Trade debts -€1,402
down €1,402 (-94.2%), from €1,489 to €87
- Current portion of long-term debt +€833
new in 2025: €833
- Depreciation -€2,871
down €2,871 (-47.5%), from €6,043 to €3,172
- Financial income +€1,295
up €1,295 (+13589.9%), from €10 to €1,305
- Gross operating margin -€1,087
down €1,087 (-3.0%), from €36,811 to €35,724
- Staff costs +€913
new in 2025: €913
- Taxes -€713
down €713 (-9.7%), from €7,381 to €6,669
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 | €78,002 | €81,802 | +€3,800 | +4.9% |
| Fixed assets | 21/28 | €32,748 | €10,006 | -€22,742 | -69.4% |
| Intangible fixed assets | 21 | €2,278 | €1,395 | -€883 | -38.8% |
| Tangible fixed assets | 22/27 | €30,470 | €8,611 | -€21,859 | -71.7% |
| Furniture and vehicles | 24 | €30,470 | €8,611 | -€21,859 | -71.7% |
| Current assets | 29/58 | €45,253 | €71,795 | +€26,542 | +58.7% |
| Amounts receivable after more than one year | 29 | €44,407 | - | -€44,407 | |
| Trade receivables | 290 | €17,793 | - | -€17,793 | |
| Other amounts receivable | 291 | €26,614 | - | -€26,614 | |
| Amounts receivable within one year | 40/41 | - | €65,657 | +€65,657 | |
| Trade receivables | 40 | - | €35,852 | +€35,852 | |
| Other amounts receivable | 41 | - | €29,805 | +€29,805 | |
| Cash at bank and in hand | 54/58 | €471 | €5,838 | +€5,367 | +1140.0% |
| Deferred charges and accrued income | 490/1 | €376 | €300 | -€76 | -20.2% |
| Total equity and liabilities | 10/49 | €78,002 | €81,802 | +€3,800 | +4.9% |
| Equity | 10/15 | €58,017 | €63,376 | +€5,359 | +9.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,017 | €59,376 | +€5,359 | +9.9% |
| Amounts payable | 17/49 | €19,985 | €18,426 | -€1,559 | -7.8% |
| Amounts payable within one year | 42/48 | €19,985 | €18,426 | -€1,559 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | - | €833 | +€833 | |
| Financial debts | 43 | - | €61 | +€61 | |
| Credit institutions | 430/8 | - | €61 | +€61 | |
| Trade debts | 44 | €1,489 | €87 | -€1,402 | -94.2% |
| Suppliers | 440/4 | €1,489 | €87 | -€1,402 | -94.2% |
| Taxes, remuneration and social security | 45 | €18,496 | €15,333 | -€3,164 | -17.1% |
| Taxes | 450/3 | €18,496 | €15,333 | -€3,164 | -17.1% |
| Other amounts payable | 47/48 | - | €2,112 | +€2,112 | |
| Remuneration, social security and pensions | 62 | - | €913 | +€913 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,043 | €3,172 | -€2,871 | -47.5% |
| Other operating charges | 640/8 | €526 | €469 | -€57 | -10.8% |
| Non-recurring operating charges | 66A | - | €7,801 | +€7,801 | |
| Gross operating margin | 9900 | €36,811 | €35,724 | -€1,087 | -3.0% |
| Operating profit (loss) | 9901 | €30,242 | €23,369 | -€6,873 | -22.7% |
| Financial income | 75/76B | €10 | €1,305 | +€1,295 | +13589.9% |
| Recurring financial income | 75 | €10 | €1,305 | +€1,295 | +13589.9% |
| Financial charges | 65/66B | €306 | €450 | +€144 | +47.0% |
| Recurring financial charges | 65 | €306 | €450 | +€144 | +47.0% |
| Profit (loss) for the period before taxes | 9903 | €29,945 | €24,223 | -€5,722 | -19.1% |
| Income taxes | 67/77 | €7,381 | €6,669 | -€713 | -9.7% |
| Profit (loss) for the period | 9904 | €22,563 | €17,554 | -€5,009 | -22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €22,563 | €17,554 | -€5,009 | -22.2% |
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 6 October 2026 via checked.be.