Project 1840: 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 1840
Largest movements
- Tangible fixed assets +€42,717
up €42,717 (+5.7%), from €751,376 to €794,094
- Debts after one year +€96,336
up €96,336 (+18.9%), from €510,831 to €607,167
- Profit (loss) carried forward -€38,523
down €38,523 (-101.4%), from -€37,983 to -€76,505
- Other debts -€36,900
down €36,900 (-15.6%), from €236,500 to €199,600
- Current portion of long-term debt +€24,230
new in 2025: €24,230
- Gross operating margin +€22,377
up €22,377, from -€14,730 to €7,647
- Financial charges +€16,894
up €16,894 (+225.8%), from €7,483 to €24,376
- Depreciation +€6,260
up €6,260 (+42.7%), from €14,677 to €20,937
- Other operating charges -€236
down €236 (-21.6%), from €1,093 to €856
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 | €751,489 | €802,538 | +€51,048 | +6.8% |
| Fixed assets | 21/28 | €751,376 | €794,094 | +€42,717 | +5.7% |
| Tangible fixed assets | 22/27 | €751,376 | €794,094 | +€42,717 | +5.7% |
| Land and buildings | 22 | €751,376 | €794,094 | +€42,717 | +5.7% |
| Current assets | 29/58 | €113 | €8,444 | +€8,331 | +7361.5% |
| Amounts receivable within one year | 40/41 | - | €1,068 | +€1,068 | |
| Trade receivables | 40 | - | €1,068 | +€1,068 | |
| Cash at bank and in hand | 54/58 | €113 | €6,380 | +€6,267 | +5537.3% |
| Deferred charges and accrued income | 490/1 | - | €997 | +€997 | |
| Total equity and liabilities | 10/49 | €751,489 | €802,538 | +€51,048 | +6.8% |
| Equity | 10/15 | €2,017 | -€36,505 | -€38,523 | |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,983 | -€76,505 | -€38,523 | -101.4% |
| Amounts payable | 17/49 | €749,472 | €839,043 | +€89,571 | +12.0% |
| Amounts payable after more than one year | 17 | €510,831 | €607,167 | +€96,336 | +18.9% |
| Financial debts | 170/4 | €510,831 | €607,167 | +€96,336 | +18.9% |
| Amounts payable within one year | 42/48 | €237,075 | €228,297 | -€8,778 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | - | €24,230 | +€24,230 | |
| Trade debts | 44 | €575 | €4,467 | +€3,893 | +677.3% |
| Suppliers | 440/4 | €575 | €4,467 | +€3,893 | +677.3% |
| Other amounts payable | 47/48 | €236,500 | €199,600 | -€36,900 | -15.6% |
| Accrued charges and deferred income | 492/3 | €1,566 | €3,579 | +€2,013 | +128.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,677 | €20,937 | +€6,260 | +42.7% |
| Other operating charges | 640/8 | €1,093 | €856 | -€236 | -21.6% |
| Gross operating margin | 9900 | -€14,730 | €7,647 | +€22,377 | |
| Operating profit (loss) | 9901 | -€30,500 | -€14,146 | +€16,354 | +53.6% |
| Financial charges | 65/66B | €7,483 | €24,376 | +€16,894 | +225.8% |
| Recurring financial charges | 65 | €7,483 | €24,376 | +€16,894 | +225.8% |
| Profit (loss) for the period before taxes | 9903 | -€37,983 | -€38,523 | -€540 | -1.4% |
| Profit (loss) for the period | 9904 | -€37,983 | -€38,523 | -€540 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,983 | -€38,523 | -€540 | -1.4% |
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 5 October 2026 via checked.be.