PROJECT A: 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 A
Largest movements
- Cash -€19,560
down €19,560 (-98.2%), from €19,922 to €361
mainly Debts after one year (-€105,633) and Net result for the year (-€13,458)
- Debts after one year -€105,633
down €105,633 (-59.7%), from €176,916 to €71,283
- Other debts +€99,000
new in 2025: €99,000
- Profit (loss) carried forward -€13,458
down €13,458 (-3.0%), from €444,729 to €431,271
- Gross operating margin -€42,011
down €42,011, from €33,388 to -€8,623
- Financial income -€39,247
no longer reported in 2025 (was €39,247)
- Other operating charges -€6,554
down €6,554 (-86.0%), from €7,618 to €1,064
- Financial charges -€2,841
down €2,841 (-43.0%), from €6,611 to €3,771
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 | €761,698 | €737,613 | -€24,085 | -3.2% |
| Fixed assets | 21/28 | €481,500 | €481,500 | = | 0.0% |
| Financial fixed assets | 28 | €481,500 | €481,500 | = | 0.0% |
| Current assets | 29/58 | €280,198 | €256,113 | -€24,085 | -8.6% |
| Stocks and contracts in progress | 3 | €170,942 | €170,942 | = | 0.0% |
| Stocks | 30/36 | €170,942 | €170,942 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €89,334 | €84,810 | -€4,525 | -5.1% |
| Trade receivables | 40 | €22,506 | €15,766 | -€6,740 | -29.9% |
| Other amounts receivable | 41 | €66,828 | €69,044 | +€2,216 | +3.3% |
| Cash at bank and in hand | 54/58 | €19,922 | €361 | -€19,560 | -98.2% |
| Total equity and liabilities | 10/49 | €761,698 | €737,613 | -€24,085 | -3.2% |
| Equity | 10/15 | €469,729 | €456,271 | -€13,458 | -2.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €444,729 | €431,271 | -€13,458 | -3.0% |
| Amounts payable | 17/49 | €291,969 | €281,342 | -€10,627 | -3.6% |
| Amounts payable after more than one year | 17 | €176,916 | €71,283 | -€105,633 | -59.7% |
| Financial debts | 170/4 | €176,916 | €71,283 | -€105,633 | -59.7% |
| Amounts payable within one year | 42/48 | €115,053 | €210,059 | +€95,006 | +82.6% |
| Current portion of amounts payable after more than one year | 42 | €104,104 | €105,633 | +€1,529 | +1.5% |
| Trade debts | 44 | €10,633 | €5,426 | -€5,208 | -49.0% |
| Suppliers | 440/4 | €10,633 | €5,426 | -€5,208 | -49.0% |
| Taxes, remuneration and social security | 45 | €316 | - | -€316 | |
| Taxes | 450/3 | €316 | - | -€316 | |
| Other amounts payable | 47/48 | - | €99,000 | +€99,000 | |
| Other operating charges | 640/8 | €7,618 | €1,064 | -€6,554 | -86.0% |
| Gross operating margin | 9900 | €33,388 | -€8,623 | -€42,011 | |
| Operating profit (loss) | 9901 | €25,770 | -€9,687 | -€35,457 | |
| Financial income | 75/76B | €39,247 | - | -€39,247 | |
| Recurring financial income | 75 | €39,247 | - | -€39,247 | |
| Financial charges | 65/66B | €6,611 | €3,771 | -€2,841 | -43.0% |
| Recurring financial charges | 65 | €6,611 | €3,771 | -€2,841 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €58,406 | -€13,458 | -€71,864 | |
| Profit (loss) for the period | 9904 | €58,406 | -€13,458 | -€71,864 | |
| Profit (loss) for the period to be appropriated | 9905 | €58,406 | -€13,458 | -€71,864 |
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.