PROJECT INTERNATIONAL: 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 INTERNATIONAL
Largest movements
- Receivables within one year +€41,160
up €41,160 (+66.1%), from €62,239 to €103,399
of which Other amounts receivable: +€40,191
- Tangible fixed assets +€1,438
up €1,438 (+6.2%), from €23,106 to €24,544
of which Plant, machinery and equipment: +€1,353
- Trade debts +€29,277
up €29,277 (+243%), from €12,045 to €41,322
- Other debts +€5,534
new in 2025: €5,534
- Reserves +€5,468
up €5,468 (+10.8%), from €50,838 to €56,306
of which Distributable reserves: +€5,468
- Tax, wage and social debts +€2,853
up €2,853 (+22.5%), from €12,704 to €15,557
of which Taxes: +€4,796
- Purchases and services +€43,012
new in 2025: €43,012
- Staff costs -€10,679
down €10,679 (-86.7%), from €12,316 to €1,637
- Taxes +€4,407
up €4,407 (+188%), from €2,344 to €6,751
- Gross operating margin -€2,640
down €2,640 (-7.9%), from €33,524 to €30,884
- Depreciation +€530
up €530 (+6.5%), from €8,203 to €8,733
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 | €91,108 | €134,241 | +€43,133 | +47.3% |
| Fixed assets | 21/28 | €23,106 | €24,544 | +€1,438 | +6.2% |
| Tangible fixed assets | 22/27 | €23,106 | €24,544 | +€1,438 | +6.2% |
| Plant, machinery and equipment | 23 | €19,110 | €20,462 | +€1,353 | +7.1% |
| Furniture and vehicles | 24 | €2,941 | €3,132 | +€191 | +6.5% |
| Other tangible fixed assets | 26 | €1,056 | €950 | -€106 | -10.0% |
| Current assets | 29/58 | €68,001 | €109,696 | +€41,695 | +61.3% |
| Amounts receivable within one year | 40/41 | €62,239 | €103,399 | +€41,160 | +66.1% |
| Trade receivables | 40 | €11,529 | €12,498 | +€969 | +8.4% |
| Other amounts receivable | 41 | €50,710 | €90,900 | +€40,191 | +79.3% |
| Cash at bank and in hand | 54/58 | €5,762 | €6,298 | +€535 | +9.3% |
| Total equity and liabilities | 10/49 | €91,108 | €134,241 | +€43,133 | +47.3% |
| Equity | 10/15 | €66,358 | €71,827 | +€5,468 | +8.2% |
| Contributions | 10/11 | €11,200 | €11,200 | = | 0.0% |
| Contributions outside capital | 11 | €11,200 | €11,200 | = | 0.0% |
| Other | 1109/19 | €11,200 | €11,200 | = | 0.0% |
| Reserves | 13 | €50,838 | €56,306 | +€5,468 | +10.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €48,978 | €54,446 | +€5,468 | +11.2% |
| Profit (loss) carried forward | 14 | €4,321 | €4,321 | = | 0.0% |
| Amounts payable | 17/49 | €24,749 | €62,414 | +€37,665 | +152% |
| Amounts payable within one year | 42/48 | €24,749 | €62,414 | +€37,665 | +152% |
| Trade debts | 44 | €12,045 | €41,322 | +€29,277 | +243% |
| Suppliers | 440/4 | €12,045 | €41,322 | +€29,277 | +243% |
| Taxes, remuneration and social security | 45 | €12,704 | €15,557 | +€2,853 | +22.5% |
| Taxes | 450/3 | €4,698 | €9,494 | +€4,796 | +102% |
| Remuneration and social security | 454/9 | €8,006 | €6,063 | -€1,943 | -24.3% |
| Other amounts payable | 47/48 | - | €5,534 | +€5,534 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €43,012 | +€43,012 | |
| Remuneration, social security and pensions | 62 | €12,316 | €1,637 | -€10,679 | -86.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,203 | €8,733 | +€530 | +6.5% |
| Other operating charges | 640/8 | €141 | €144 | +€4 | +2.6% |
| Gross operating margin | 9900 | €33,524 | €30,884 | -€2,640 | -7.9% |
| Operating profit (loss) | 9901 | €12,865 | €20,371 | +€7,506 | +58.3% |
| Financial charges | 65/66B | €109 | €134 | +€25 | +22.8% |
| Recurring financial charges | 65 | €109 | €134 | +€25 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | €12,755 | €20,237 | +€7,481 | +58.7% |
| Income taxes | 67/77 | €2,344 | €6,751 | +€4,407 | +188% |
| Profit (loss) for the period | 9904 | €10,412 | €13,485 | +€3,074 | +29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,412 | €13,485 | +€3,074 | +29.5% |
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 28 October 2026 via checked.be.