PROJECT & DEVELOPMENT: 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 & DEVELOPMENT
Largest movements
- Receivables within one year -€80,520
no longer reported in 2025 (was €80,520)
- Trade debts -€80,520
down €80,520 (-99.0%), from €81,313 to €793
- Other debts +€22,593
new in 2025: €22,593
- Tax, wage and social debts -€17,439
down €17,439 (-96.4%), from €18,095 to €656
of which Remuneration and social security: -€9,116
- Profit (loss) carried forward -€5,154
down €5,154 (-24.6%), from -€20,916 to -€26,070
- Taxes -€12,179
down €12,179 (-99.0%), from €12,300 to €122
- Gross operating margin -€3,547
down €3,547 (-8448.3%), from -€42 to -€3,589
- Financial income -€815
no longer reported in 2025 (was €815)
- Financial charges -€652
down €652 (-76.2%), from €855 to €203
- Other operating charges +€241
up €241 (+24.1%), from €1,000 to €1,241
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €80,520 | - | -€80,520 | |
| Current assets | 29/58 | €80,520 | - | -€80,520 | |
| Amounts receivable within one year | 40/41 | €80,520 | - | -€80,520 | |
| Trade receivables | 40 | €80,520 | - | -€80,520 | |
| Total equity and liabilities | 10/49 | €80,520 | €0 | -€80,520 | -100.0% |
| Equity | 10/15 | -€18,916 | -€24,070 | -€5,154 | -27.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,916 | -€26,070 | -€5,154 | -24.6% |
| Amounts payable | 17/49 | €99,436 | €24,070 | -€75,366 | -75.8% |
| Amounts payable within one year | 42/48 | €99,436 | €24,070 | -€75,366 | -75.8% |
| Financial debts | 43 | €28 | €28 | = | 0.0% |
| Credit institutions | 430/8 | €28 | €28 | = | 0.0% |
| Trade debts | 44 | €81,313 | €793 | -€80,520 | -99.0% |
| Suppliers | 440/4 | €81,313 | €793 | -€80,520 | -99.0% |
| Taxes, remuneration and social security | 45 | €18,095 | €656 | -€17,439 | -96.4% |
| Taxes | 450/3 | €8,979 | €656 | -€8,323 | -92.7% |
| Remuneration and social security | 454/9 | €9,116 | - | -€9,116 | |
| Other amounts payable | 47/48 | - | €22,593 | +€22,593 | |
| Other operating charges | 640/8 | €1,000 | €1,241 | +€241 | +24.1% |
| Gross operating margin | 9900 | -€42 | -€3,589 | -€3,547 | -8448.3% |
| Operating profit (loss) | 9901 | -€1,042 | -€4,829 | -€3,787 | -363.5% |
| Financial income | 75/76B | €815 | - | -€815 | |
| Recurring financial income | 75 | €815 | - | -€815 | |
| Financial charges | 65/66B | €855 | €203 | -€652 | -76.2% |
| Recurring financial charges | 65 | €855 | €203 | -€652 | -76.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,082 | -€5,032 | -€3,950 | -365.0% |
| Income taxes | 67/77 | €12,300 | €122 | -€12,179 | -99.0% |
| Profit (loss) for the period | 9904 | -€13,383 | -€5,154 | +€8,229 | +61.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,383 | -€5,154 | +€8,229 | +61.5% |
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 28 September 2026 via checked.be.