PROJECT + CONSULTING: 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 + CONSULTING
Largest movements
- Receivables within one year -€30,010
down €30,010 (-63.3%), from €47,434 to €17,424
of which Other amounts receivable: -€30,978
- Tangible fixed assets -€4,483
down €4,483 (-1.7%), from €271,163 to €266,680
of which Land and buildings: -€23,297
- Deferred charges and accrued income -€3,591
down €3,591 (-33.2%), from €10,821 to €7,230
- Cash +€3,544
up €3,544 (+82.5%), from €4,297 to €7,841
mainly Net result for the year (+€36,463) and Depreciation (+€36,024)
- Reserves -€35,916
down €35,916 (-19.0%), from €188,924 to €153,008
- Debts after one year -€10,945
down €10,945 (-13.6%), from €80,755 to €69,809
- Other debts +€9,675
new in 2025: €9,675
- Current portion of long-term debt +€5,980
up €5,980 (+21.4%), from €27,961 to €33,941
- Gross operating margin -€16,847
down €16,847 (-15.1%), from €111,579 to €94,732
- Depreciation +€4,423
up €4,423 (+14.0%), from €31,601 to €36,024
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.
Derived cash bridge
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 | €333,915 | €299,375 | -€34,540 | -10.3% |
| Fixed assets | 21/28 | €271,363 | €266,880 | -€4,483 | -1.7% |
| Tangible fixed assets | 22/27 | €271,163 | €266,680 | -€4,483 | -1.7% |
| Land and buildings | 22 | €238,731 | €215,434 | -€23,297 | -9.8% |
| Furniture and vehicles | 24 | €32,432 | €51,246 | +€18,814 | +58.0% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €62,552 | €32,495 | -€30,057 | -48.1% |
| Amounts receivable within one year | 40/41 | €47,434 | €17,424 | -€30,010 | -63.3% |
| Trade receivables | 40 | €16,456 | €17,424 | +€968 | +5.9% |
| Other amounts receivable | 41 | €30,978 | - | -€30,978 | |
| Cash at bank and in hand | 54/58 | €4,297 | €7,841 | +€3,544 | +82.5% |
| Deferred charges and accrued income | 490/1 | €10,821 | €7,230 | -€3,591 | -33.2% |
| Total equity and liabilities | 10/49 | €333,915 | €299,375 | -€34,540 | -10.3% |
| Equity | 10/15 | €188,924 | €153,008 | -€35,916 | -19.0% |
| Reserves | 13 | €188,924 | €153,008 | -€35,916 | -19.0% |
| Distributable reserves | 133 | €188,924 | €153,008 | -€35,916 | -19.0% |
| Amounts payable | 17/49 | €144,991 | €146,367 | +€1,376 | +0.9% |
| Amounts payable after more than one year | 17 | €80,755 | €69,809 | -€10,945 | -13.6% |
| Financial debts | 170/4 | €80,755 | €69,809 | -€10,945 | -13.6% |
| Amounts payable within one year | 42/48 | €64,237 | €76,557 | +€12,321 | +19.2% |
| Current portion of amounts payable after more than one year | 42 | €27,961 | €33,941 | +€5,980 | +21.4% |
| Trade debts | 44 | €15,954 | €14,784 | -€1,171 | -7.3% |
| Suppliers | 440/4 | €15,954 | €14,784 | -€1,171 | -7.3% |
| Taxes, remuneration and social security | 45 | €20,321 | €18,158 | -€2,164 | -10.6% |
| Taxes | 450/3 | €20,321 | €18,158 | -€2,164 | -10.6% |
| Other amounts payable | 47/48 | - | €9,675 | +€9,675 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,601 | €36,024 | +€4,423 | +14.0% |
| Other operating charges | 640/8 | €2,955 | €2,719 | -€236 | -8.0% |
| Gross operating margin | 9900 | €111,579 | €94,732 | -€16,847 | -15.1% |
| Operating profit (loss) | 9901 | €77,022 | €55,989 | -€21,034 | -27.3% |
| Financial income | 75/76B | €3,273 | €2,437 | -€837 | -25.6% |
| Recurring financial income | 75 | €3,273 | €2,437 | -€837 | -25.6% |
| Financial charges | 65/66B | €5,827 | €5,335 | -€492 | -8.4% |
| Recurring financial charges | 65 | €5,827 | €5,335 | -€492 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €74,468 | €53,090 | -€21,379 | -28.7% |
| Income taxes | 67/77 | €16,762 | €16,627 | -€135 | -0.8% |
| Profit (loss) for the period | 9904 | €57,707 | €36,463 | -€21,244 | -36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €57,707 | €36,463 | -€21,244 | -36.8% |
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 16 October 2026 via checked.be.