PROJECT HOUSE: 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 HOUSE
Largest movements
- Tangible fixed assets +€193,572
up €193,572 (+80.3%), from €241,204 to €434,777
of which Land and buildings: +€198,535
- Receivables within one year +€82,963
up €82,963 (+30.6%), from €270,767 to €353,729
of which Trade receivables: +€92,782
- Debts after one year +€132,493
up €132,493 (+60.6%), from €218,640 to €351,133
- Trade debts +€125,781
up €125,781 (+119%), from €105,830 to €231,611
- Reserves -€49,000
down €49,000 (-18.3%), from €268,000 to €219,000
- Other debts +€47,592
new in 2025: €47,592
- Tax, wage and social debts +€25,444
up €25,444 (+416%), from €6,121 to €31,565
of which Taxes: +€25,234
- Gross operating margin +€41,042
up €41,042 (+70.6%), from €58,140 to €99,182
- Taxes +€10,917
up €10,917 (+557%), from €1,959 to €12,875
- Other operating charges +€3,271
up €3,271 (+135%), from €2,422 to €5,693
- Staff costs +€2,392
up €2,392 (+12.8%), from €18,726 to €21,117
- Write-downs +€1,653
new in 2025: €1,653
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 | €642,596 | €922,511 | +€279,915 | +43.6% |
| Fixed assets | 21/28 | €241,653 | €435,225 | +€193,572 | +80.1% |
| Tangible fixed assets | 22/27 | €241,204 | €434,777 | +€193,572 | +80.3% |
| Land and buildings | 22 | €197,168 | €395,703 | +€198,535 | +101% |
| Plant, machinery and equipment | 23 | €1,883 | €9,942 | +€8,059 | +428% |
| Furniture and vehicles | 24 | €42,153 | €29,131 | -€13,022 | -30.9% |
| Financial fixed assets | 28 | €449 | €449 | = | 0.0% |
| Current assets | 29/58 | €400,943 | €487,285 | +€86,343 | +21.5% |
| Stocks and contracts in progress | 3 | €17,200 | €21,500 | +€4,300 | +25.0% |
| Stocks | 30/36 | €17,200 | €21,500 | +€4,300 | +25.0% |
| Amounts receivable within one year | 40/41 | €270,767 | €353,729 | +€82,963 | +30.6% |
| Trade receivables | 40 | €179,937 | €272,719 | +€92,782 | +51.6% |
| Other amounts receivable | 41 | €90,830 | €81,010 | -€9,820 | -10.8% |
| Cash at bank and in hand | 54/58 | €108,993 | €108,782 | -€211 | -0.2% |
| Deferred charges and accrued income | 490/1 | €3,983 | €3,274 | -€709 | -17.8% |
| Total equity and liabilities | 10/49 | €642,596 | €922,511 | +€279,915 | +43.6% |
| Equity | 10/15 | €274,198 | €228,223 | -€45,975 | -16.8% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €268,000 | €219,000 | -€49,000 | -18.3% |
| Distributable reserves | 133 | €268,000 | €219,000 | -€49,000 | -18.3% |
| Profit (loss) carried forward | 14 | -€1,862 | €1,163 | +€3,025 | |
| Amounts payable | 17/49 | €368,398 | €694,287 | +€325,890 | +88.5% |
| Amounts payable after more than one year | 17 | €218,640 | €351,133 | +€132,493 | +60.6% |
| Financial debts | 170/4 | €218,640 | €351,133 | +€132,493 | +60.6% |
| Amounts payable within one year | 42/48 | €148,157 | €338,204 | +€190,047 | +128% |
| Current portion of amounts payable after more than one year | 42 | €36,206 | €26,907 | -€9,299 | -25.7% |
| Financial debts | 43 | - | €529 | +€529 | |
| Credit institutions | 430/8 | - | €529 | +€529 | |
| Trade debts | 44 | €105,830 | €231,611 | +€125,781 | +119% |
| Suppliers | 440/4 | €105,830 | €231,611 | +€125,781 | +119% |
| Taxes, remuneration and social security | 45 | €6,121 | €31,565 | +€25,444 | +416% |
| Taxes | 450/3 | - | €25,234 | +€25,234 | |
| Remuneration and social security | 454/9 | €6,121 | €6,330 | +€210 | +3.4% |
| Other amounts payable | 47/48 | - | €47,592 | +€47,592 | |
| Accrued charges and deferred income | 492/3 | €1,600 | €4,950 | +€3,350 | +209% |
| Remuneration, social security and pensions | 62 | €18,726 | €21,117 | +€2,392 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,352 | €33,480 | +€129 | +0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,653 | +€1,653 | |
| Other operating charges | 640/8 | €2,422 | €5,693 | +€3,271 | +135% |
| Gross operating margin | 9900 | €58,140 | €99,182 | +€41,042 | +70.6% |
| Operating profit (loss) | 9901 | €3,641 | €37,239 | +€33,598 | +923% |
| Financial income | 75/76B | €4,413 | €5,834 | +€1,421 | +32.2% |
| Recurring financial income | 75 | €4,413 | €5,834 | +€1,421 | +32.2% |
| Financial charges | 65/66B | €9,201 | €8,172 | -€1,029 | -11.2% |
| Recurring financial charges | 65 | €9,201 | €8,172 | -€1,029 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,147 | €34,901 | +€36,048 | |
| Income taxes | 67/77 | €1,959 | €12,875 | +€10,917 | +557% |
| Profit (loss) for the period | 9904 | -€3,106 | €22,025 | +€25,132 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,106 | €22,025 | +€25,132 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.