PROJECT DONE: 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 DONE
Largest movements
- Cash +€15,178
up €15,178 (+7.0%), from €217,934 to €233,112
mainly Net result for the year (+€18,974) and Depreciation (+€13,273)
- Tangible fixed assets -€13,273
down €13,273 (-4.9%), from €268,682 to €255,409
of which Land and buildings: -€7,083
- Profit (loss) carried forward +€18,974
up €18,974 (+7.9%), from €238,693 to €257,667
- Debts after one year -€14,964
down €14,964 (-9.2%), from €161,942 to €146,978
- Tax, wage and social debts -€6,076
down €6,076 (-54.3%), from €11,181 to €5,105
- Gross operating margin -€48,160
down €48,160 (-42.4%), from €113,526 to €65,366
- Taxes +€14,738
up €14,738 (+149.8%), from €9,838 to €24,576
- Staff costs +€1,838
up €1,838 (+113.0%), from €1,627 to €3,465
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 | €486,615 | €488,520 | +€1,905 | +0.4% |
| Fixed assets | 21/28 | €268,682 | €255,409 | -€13,273 | -4.9% |
| Tangible fixed assets | 22/27 | €268,682 | €255,409 | -€13,273 | -4.9% |
| Land and buildings | 22 | €246,650 | €239,568 | -€7,083 | -2.9% |
| Plant, machinery and equipment | 23 | €10,411 | €8,649 | -€1,761 | -16.9% |
| Furniture and vehicles | 24 | €11,621 | €7,192 | -€4,429 | -38.1% |
| Current assets | 29/58 | €217,934 | €233,112 | +€15,178 | +7.0% |
| Cash at bank and in hand | 54/58 | €217,934 | €233,112 | +€15,178 | +7.0% |
| Total equity and liabilities | 10/49 | €486,615 | €488,520 | +€1,905 | +0.4% |
| Equity | 10/15 | €238,694 | €257,668 | +€18,974 | +7.9% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Outside capital | 11 | €1 | €1 | = | 0.0% |
| Share premium | 1100/10 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €238,693 | €257,667 | +€18,974 | +7.9% |
| Amounts payable | 17/49 | €247,921 | €230,852 | -€17,069 | -6.9% |
| Amounts payable after more than one year | 17 | €161,942 | €146,978 | -€14,964 | -9.2% |
| Financial debts | 170/4 | €161,942 | €146,978 | -€14,964 | -9.2% |
| Amounts payable within one year | 42/48 | €85,979 | €83,874 | -€2,105 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €13,237 | €14,964 | +€1,727 | +13.0% |
| Trade debts | 44 | €1,817 | €1,958 | +€141 | +7.8% |
| Suppliers | 440/4 | €1,817 | €1,958 | +€141 | +7.8% |
| Taxes, remuneration and social security | 45 | €11,181 | €5,105 | -€6,076 | -54.3% |
| Taxes | 450/3 | €11,181 | €5,105 | -€6,076 | -54.3% |
| Other amounts payable | 47/48 | €59,745 | €61,847 | +€2,103 | +3.5% |
| Remuneration, social security and pensions | 62 | €1,627 | €3,465 | +€1,838 | +113.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,406 | €13,273 | -€133 | -1.0% |
| Other operating charges | 640/8 | €1,666 | €2,084 | +€418 | +25.1% |
| Gross operating margin | 9900 | €113,526 | €65,366 | -€48,160 | -42.4% |
| Operating profit (loss) | 9901 | €96,828 | €46,544 | -€50,284 | -51.9% |
| Financial income | 75/76B | €108 | - | -€108 | |
| Recurring financial income | 75 | €108 | - | -€108 | |
| Financial charges | 65/66B | €3,315 | €2,994 | -€321 | -9.7% |
| Recurring financial charges | 65 | €3,315 | €2,994 | -€321 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €93,621 | €43,550 | -€50,071 | -53.5% |
| Income taxes | 67/77 | €9,838 | €24,576 | +€14,738 | +149.8% |
| Profit (loss) for the period | 9904 | €83,783 | €18,974 | -€64,808 | -77.4% |
| Profit (loss) for the period to be appropriated | 9905 | €83,783 | €18,974 | -€64,808 | -77.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.