Project Engineering Alain MOREL: 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 Engineering Alain MOREL
Largest movements
- Cash +€70,473
up €70,473 (+33.9%), from €208,164 to €278,637
mainly Net result for the year (+€77,021) and Depreciation (+€6,887)
- Tangible fixed assets -€6,887
down €6,887 (-30.9%), from €22,264 to €15,377
- Reserves +€77,000
up €77,000 (+47.5%), from €162,000 to €239,000
- Tax, wage and social debts -€12,217
down €12,217 (-15.1%), from €81,034 to €68,817
of which Taxes: -€10,217
- Gross operating margin +€1,834
up €1,834 (+1.6%), from €114,084 to €115,918
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 | €250,336 | €315,537 | +€65,201 | +26.0% |
| Fixed assets | 21/28 | €22,264 | €15,377 | -€6,887 | -30.9% |
| Tangible fixed assets | 22/27 | €22,264 | €15,377 | -€6,887 | -30.9% |
| Furniture and vehicles | 24 | €22,264 | €15,377 | -€6,887 | -30.9% |
| Current assets | 29/58 | €228,072 | €300,160 | +€72,088 | +31.6% |
| Amounts receivable within one year | 40/41 | €18,876 | €20,430 | +€1,554 | +8.2% |
| Trade receivables | 40 | €18,876 | €20,430 | +€1,554 | +8.2% |
| Other amounts receivable | 41 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €208,164 | €278,637 | +€70,473 | +33.9% |
| Deferred charges and accrued income | 490/1 | €1,032 | €1,093 | +€61 | +5.9% |
| Total equity and liabilities | 10/49 | €250,336 | €315,537 | +€65,201 | +26.0% |
| Equity | 10/15 | €165,866 | €242,887 | +€77,021 | +46.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €162,000 | €239,000 | +€77,000 | +47.5% |
| Distributable reserves | 133 | €162,000 | €239,000 | +€77,000 | +47.5% |
| Profit (loss) carried forward | 14 | €866 | €887 | +€21 | +2.4% |
| Amounts payable | 17/49 | €84,470 | €72,650 | -€11,820 | -14.0% |
| Amounts payable within one year | 42/48 | €82,670 | €72,650 | -€10,020 | -12.1% |
| Trade debts | 44 | €1,636 | €1,902 | +€266 | +16.3% |
| Suppliers | 440/4 | €1,636 | €1,902 | +€266 | +16.3% |
| Taxes, remuneration and social security | 45 | €81,034 | €68,817 | -€12,217 | -15.1% |
| Taxes | 450/3 | €79,034 | €68,817 | -€10,217 | -12.9% |
| Remuneration and social security | 454/9 | €2,000 | €0 | -€2,000 | -100% |
| Other amounts payable | 47/48 | - | €1,931 | +€1,931 | |
| Accrued charges and deferred income | 492/3 | €1,800 | - | -€1,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,887 | €6,887 | -€0 | 0.0% |
| Other operating charges | 640/8 | €459 | €341 | -€118 | -25.7% |
| Gross operating margin | 9900 | €114,084 | €115,918 | +€1,834 | +1.6% |
| Operating profit (loss) | 9901 | €106,738 | €108,690 | +€1,952 | +1.8% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €192 | €237 | +€45 | +23.2% |
| Recurring financial charges | 65 | €192 | €237 | +€45 | +23.2% |
| Profit (loss) for the period before taxes | 9903 | €106,546 | €108,459 | +€1,913 | +1.8% |
| Income taxes | 67/77 | €30,720 | €31,437 | +€717 | +2.3% |
| Profit (loss) for the period | 9904 | €75,826 | €77,021 | +€1,195 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €75,826 | €77,021 | +€1,195 | +1.6% |
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 24 October 2026 via checked.be.