Project de Luxe: 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 de Luxe
Largest movements
- Receivables within one year -€67,101
down €67,101 (-55.7%), from €120,518 to €53,417
of which Trade receivables: -€67,205
- Tangible fixed assets +€38,681
up €38,681 (+579.0%), from €6,681 to €45,362
of which Furniture and vehicles: +€39,278
- Cash -€9,835
down €9,835 (-65.0%), from €15,121 to €5,286
mainly Other debts (-€71,722) and Investment in fixed assets (net) (-€42,964)
- Other debts -€71,722
down €71,722 (-26.8%), from €267,267 to €195,546
- Profit (loss) carried forward +€56,605
up €56,605 (+33.5%), from -€168,956 to -€112,351
- Tax, wage and social debts -€14,183
down €14,183 (-58.5%), from €24,243 to €10,060
- Trade debts -€9,277
down €9,277 (-58.0%), from €15,996 to €6,719
- Gross operating margin +€187,085
up €187,085, from -€118,634 to €68,451
- Other operating charges -€20,712
down €20,712 (-96.5%), from €21,471 to €759
- Financial charges -€8,771
down €8,771 (-57.4%), from €15,280 to €6,509
- Depreciation +€3,951
up €3,951 (+1192.9%), from €331 to €4,283
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 | €144,750 | €106,173 | -€38,577 | -26.7% |
| Fixed assets | 21/28 | €6,681 | €45,362 | +€38,681 | +579.0% |
| Tangible fixed assets | 22/27 | €6,681 | €45,362 | +€38,681 | +579.0% |
| Land and buildings | 22 | €5,892 | €5,294 | -€598 | -10.1% |
| Furniture and vehicles | 24 | €789 | €40,068 | +€39,278 | +4975.2% |
| Current assets | 29/58 | €138,069 | €60,811 | -€77,258 | -56.0% |
| Amounts receivable within one year | 40/41 | €120,518 | €53,417 | -€67,101 | -55.7% |
| Trade receivables | 40 | €120,518 | €53,313 | -€67,205 | -55.8% |
| Other amounts receivable | 41 | - | €104 | +€104 | |
| Cash at bank and in hand | 54/58 | €15,121 | €5,286 | -€9,835 | -65.0% |
| Deferred charges and accrued income | 490/1 | €2,430 | €2,108 | -€322 | -13.2% |
| Total equity and liabilities | 10/49 | €144,750 | €106,173 | -€38,577 | -26.7% |
| Equity | 10/15 | -€162,756 | -€106,151 | +€56,605 | +34.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€168,956 | -€112,351 | +€56,605 | +33.5% |
| Amounts payable | 17/49 | €307,506 | €212,324 | -€95,182 | -31.0% |
| Amounts payable within one year | 42/48 | €307,506 | €212,324 | -€95,182 | -31.0% |
| Trade debts | 44 | €15,996 | €6,719 | -€9,277 | -58.0% |
| Suppliers | 440/4 | €15,996 | €6,719 | -€9,277 | -58.0% |
| Taxes, remuneration and social security | 45 | €24,243 | €10,060 | -€14,183 | -58.5% |
| Taxes | 450/3 | €24,243 | €10,060 | -€14,183 | -58.5% |
| Other amounts payable | 47/48 | €267,267 | €195,546 | -€71,722 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €331 | €4,283 | +€3,951 | +1192.9% |
| Other operating charges | 640/8 | €21,471 | €759 | -€20,712 | -96.5% |
| Gross operating margin | 9900 | -€118,634 | €68,451 | +€187,085 | |
| Operating profit (loss) | 9901 | -€140,436 | €63,410 | +€203,846 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -99.3% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -99.3% |
| Financial charges | 65/66B | €15,280 | €6,509 | -€8,771 | -57.4% |
| Recurring financial charges | 65 | €15,280 | €6,509 | -€8,771 | -57.4% |
| Profit (loss) for the period before taxes | 9903 | -€155,714 | €56,901 | +€212,615 | |
| Income taxes | 67/77 | €109 | €296 | +€187 | +172.3% |
| Profit (loss) for the period | 9904 | -€155,823 | €56,605 | +€212,427 | |
| Profit (loss) for the period to be appropriated | 9905 | -€155,823 | €56,605 | +€212,427 |
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 9 October 2026 via checked.be.