PROJECT 12: 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 12
Largest movements
- Receivables within one year +€76,370
up €76,370 (+1259.8%), from €6,062 to €82,432
of which Trade receivables: +€75,818
- Tangible fixed assets +€2,820
up €2,820 (+105.9%), from €2,664 to €5,484
of which Plant, machinery and equipment: +€2,979
- Profit (loss) carried forward +€78,210
up €78,210, from -€69,800 to €8,410
- Trade debts +€27,066
up €27,066 (+94.6%), from €28,602 to €55,668
- Debts after one year -€21,947
down €21,947 (-72.4%), from €30,318 to €8,372
- Tax, wage and social debts +€12,728
up €12,728 (+112.2%), from €11,342 to €24,069
- Current portion of long-term debt -€10,449
down €10,449 (-19.2%), from €54,330 to €43,881
- Gross operating margin +€69,957
up €69,957 (+322.2%), from €21,713 to €91,671
- Taxes +€3,711
up €3,711 (+1203.4%), from €308 to €4,020
- Other operating charges +€1,599
up €1,599 (+101.6%), from €1,574 to €3,173
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €90,422 | €170,248 | +€79,826 | +88.3% |
| Fixed assets | 21/28 | €82,777 | €85,872 | +€3,095 | +3.7% |
| Intangible fixed assets | 21 | €110 | €85 | -€25 | -22.6% |
| Tangible fixed assets | 22/27 | €2,664 | €5,484 | +€2,820 | +105.9% |
| Plant, machinery and equipment | 23 | €858 | €3,838 | +€2,979 | +347.1% |
| Furniture and vehicles | 24 | €1,806 | €1,647 | -€159 | -8.8% |
| Financial fixed assets | 28 | €80,002 | €80,302 | +€300 | +0.4% |
| Current assets | 29/58 | €7,645 | €84,376 | +€76,731 | +1003.6% |
| Amounts receivable within one year | 40/41 | €6,062 | €82,432 | +€76,370 | +1259.8% |
| Trade receivables | 40 | €2,143 | €77,961 | +€75,818 | +3537.7% |
| Other amounts receivable | 41 | €3,919 | €4,471 | +€552 | +14.1% |
| Cash at bank and in hand | 54/58 | €186 | €351 | +€165 | +88.7% |
| Deferred charges and accrued income | 490/1 | €1,397 | €1,593 | +€196 | +14.0% |
| Total equity and liabilities | 10/49 | €90,422 | €170,248 | +€79,826 | +88.3% |
| Equity | 10/15 | -€63,600 | €14,610 | +€78,210 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,800 | €8,410 | +€78,210 | |
| Amounts payable | 17/49 | €154,022 | €155,638 | +€1,616 | +1.0% |
| Amounts payable after more than one year | 17 | €30,318 | €8,372 | -€21,947 | -72.4% |
| Financial debts | 170/4 | €30,318 | €8,372 | -€21,947 | -72.4% |
| Amounts payable within one year | 42/48 | €123,704 | €147,266 | +€23,562 | +19.0% |
| Current portion of amounts payable after more than one year | 42 | €54,330 | €43,881 | -€10,449 | -19.2% |
| Financial debts | 43 | €15,571 | €14,996 | -€575 | -3.7% |
| Credit institutions | 430/8 | €15,571 | €14,996 | -€575 | -3.7% |
| Trade debts | 44 | €28,602 | €55,668 | +€27,066 | +94.6% |
| Suppliers | 440/4 | €28,602 | €55,668 | +€27,066 | +94.6% |
| Taxes, remuneration and social security | 45 | €11,342 | €24,069 | +€12,728 | +112.2% |
| Taxes | 450/3 | €11,342 | €24,069 | +€12,728 | +112.2% |
| Other amounts payable | 47/48 | €13,859 | €8,652 | -€5,208 | -37.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,204 | €1,832 | -€372 | -16.9% |
| Other operating charges | 640/8 | €1,574 | €3,173 | +€1,599 | +101.6% |
| Gross operating margin | 9900 | €21,713 | €91,671 | +€69,957 | +322.2% |
| Operating profit (loss) | 9901 | €17,935 | €86,665 | +€68,730 | +383.2% |
| Financial income | 75/76B | €624 | €2 | -€622 | -99.7% |
| Recurring financial income | 75 | €624 | €2 | -€622 | -99.7% |
| Financial charges | 65/66B | €4,445 | €4,437 | -€8 | -0.2% |
| Recurring financial charges | 65 | €4,445 | €4,437 | -€8 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €14,114 | €82,230 | +€68,116 | +482.6% |
| Income taxes | 67/77 | €308 | €4,020 | +€3,711 | +1203.4% |
| Profit (loss) for the period | 9904 | €13,805 | €78,210 | +€64,405 | +466.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,805 | €78,210 | +€64,405 | +466.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.