PROJECT I: 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 I
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Accrued charges and deferred income +€27,515
up €27,515 (+5.6%), from €491,060 to €518,575
- Profit (loss) carried forward -€16,132
down €16,132 (-2.8%), from -€576,640 to -€592,772
- Gross operating margin +€9,919
up €9,919 (+310%), from €3,205 to €13,124
- Financial charges -€9,298
down €9,298 (-24.9%), from €37,278 to €27,980
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 | €1,542,679 | €1,548,811 | +€6,132 | +0.4% |
| Fixed assets | 21/28 | €737,484 | €737,484 | = | 0.0% |
| Tangible fixed assets | 22/27 | €737,484 | €737,484 | = | 0.0% |
| Other tangible fixed assets | 26 | €737,484 | €737,484 | = | 0.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €805,195 | €811,327 | +€6,132 | +0.8% |
| Stocks and contracts in progress | 3 | €801,552 | €801,552 | = | 0.0% |
| Stocks | 30/36 | €801,552 | €801,552 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €674 | €1,212 | +€538 | +79.9% |
| Trade receivables | 40 | €95 | €95 | = | 0.0% |
| Other amounts receivable | 41 | €579 | €1,117 | +€538 | +93.0% |
| Cash at bank and in hand | 54/58 | €2,969 | €8,563 | +€5,594 | +188% |
| Total equity and liabilities | 10/49 | €1,542,679 | €1,548,811 | +€6,132 | +0.4% |
| Equity | 10/15 | €123,360 | €107,228 | -€16,132 | -13.1% |
| Contributions | 10/11 | €700,000 | €700,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€576,640 | -€592,772 | -€16,132 | -2.8% |
| Amounts payable | 17/49 | €1,419,319 | €1,441,583 | +€22,264 | +1.6% |
| Amounts payable after more than one year | 17 | €917,150 | €917,150 | = | 0.0% |
| Financial debts | 170/4 | €917,150 | €917,150 | = | 0.0% |
| Amounts payable within one year | 42/48 | €11,108 | €5,858 | -€5,250 | -47.3% |
| Trade debts | 44 | €6,232 | €5,858 | -€374 | -6.0% |
| Suppliers | 440/4 | €6,232 | €5,858 | -€374 | -6.0% |
| Taxes, remuneration and social security | 45 | €4,876 | €0 | -€4,876 | -100% |
| Taxes | 450/3 | €4,876 | €0 | -€4,876 | -100% |
| Accrued charges and deferred income | 492/3 | €491,060 | €518,575 | +€27,515 | +5.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Other operating charges | 640/8 | €1,394 | €1,276 | -€117 | -8.4% |
| Gross operating margin | 9900 | €3,205 | €13,124 | +€9,919 | +310% |
| Operating profit (loss) | 9901 | €1,811 | €11,847 | +€10,036 | +554% |
| Financial charges | 65/66B | €37,278 | €27,980 | -€9,298 | -24.9% |
| Recurring financial charges | 65 | €37,278 | €27,980 | -€9,298 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | -€35,466 | -€16,132 | +€19,334 | +54.5% |
| Profit (loss) for the period | 9904 | -€35,466 | -€16,132 | +€19,334 | +54.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,466 | -€16,132 | +€19,334 | +54.5% |
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 21 October 2026 via checked.be.