PROJECT-GUIDANCE: 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-GUIDANCE
Largest movements
- Receivables within one year -€10,719
down €10,719 (-11.4%), from €94,306 to €83,587
of which Other amounts receivable: -€13,741
- Other debts -€29,669
down €29,669 (-18.7%), from €158,254 to €128,586
- Profit (loss) carried forward +€18,478
up €18,478 (+18.6%), from -€99,275 to -€80,797
- Trade debts +€1,587
up €1,587 (+614.0%), from €258 to €1,845
- Tax, wage and social debts -€1,559
down €1,559 (-79.8%), from €1,953 to €394
- Gross operating margin +€2,201
up €2,201 (+14.5%), from €15,186 to €17,388
- Financial income -€262
down €262 (-11.3%), from €2,309 to €2,047
- Other operating charges -€197
down €197 (-26.6%), from €740 to €544
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 | €106,191 | €95,029 | -€11,162 | -10.5% |
| Fixed assets | 21/28 | €4,120 | €4,138 | +€17 | +0.4% |
| Financial fixed assets | 28 | €4,120 | €4,138 | +€17 | +0.4% |
| Current assets | 29/58 | €102,071 | €90,891 | -€11,179 | -11.0% |
| Amounts receivable within one year | 40/41 | €94,306 | €83,587 | -€10,719 | -11.4% |
| Trade receivables | 40 | €35,241 | €38,264 | +€3,022 | +8.6% |
| Other amounts receivable | 41 | €59,065 | €45,324 | -€13,741 | -23.3% |
| Cash at bank and in hand | 54/58 | €7,649 | €7,184 | -€464 | -6.1% |
| Deferred charges and accrued income | 490/1 | €116 | €120 | +€4 | +3.2% |
| Total equity and liabilities | 10/49 | €106,191 | €95,029 | -€11,162 | -10.5% |
| Equity | 10/15 | -€54,275 | -€35,797 | +€18,478 | +34.0% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€99,275 | -€80,797 | +€18,478 | +18.6% |
| Amounts payable | 17/49 | €160,466 | €130,826 | -€29,640 | -18.5% |
| Amounts payable within one year | 42/48 | €160,466 | €130,826 | -€29,640 | -18.5% |
| Trade debts | 44 | €258 | €1,845 | +€1,587 | +614.0% |
| Suppliers | 440/4 | €258 | €1,845 | +€1,587 | +614.0% |
| Taxes, remuneration and social security | 45 | €1,953 | €394 | -€1,559 | -79.8% |
| Taxes | 450/3 | €1,953 | €394 | -€1,559 | -79.8% |
| Other amounts payable | 47/48 | €158,254 | €128,586 | -€29,669 | -18.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Other operating charges | 640/8 | €740 | €544 | -€197 | -26.6% |
| Gross operating margin | 9900 | €15,186 | €17,388 | +€2,201 | +14.5% |
| Operating profit (loss) | 9901 | €14,446 | €16,844 | +€2,398 | +16.6% |
| Financial income | 75/76B | €2,309 | €2,047 | -€262 | -11.3% |
| Recurring financial income | 75 | €2,309 | €2,047 | -€262 | -11.3% |
| Financial charges | 65/66B | €359 | €412 | +€53 | +14.8% |
| Recurring financial charges | 65 | €359 | €412 | +€53 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | €16,396 | €18,479 | +€2,083 | +12.7% |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | €16,396 | €18,478 | +€2,082 | +12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,396 | €18,478 | +€2,082 | +12.7% |
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.