Project Invest: 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 Invest
Largest movements
- Stocks and contracts +€55,268
up €55,268 (+18.8%), from €294,501 to €349,769
- Receivables within one year -€20,623
down €20,623 (-95.1%), from €21,690 to €1,067
of which Trade receivables: -€16,830
- Cash -€17,352
down €17,352 (-88.3%), from €19,647 to €2,295
mainly Stocks and contracts (-€55,268) and Trade debts (-€20,401)
- Other debts +€54,644
up €54,644 (+13.8%), from €394,775 to €449,420
- Trade debts -€20,401
down €20,401 (-82.0%), from €24,873 to €4,473
- Profit (loss) carried forward -€12,368
down €12,368 (-12.9%), from -€96,040 to -€108,408
- Accrued charges and deferred income -€6,500
no longer reported in 2025 (was €6,500)
- Gross operating margin +€38,700
up €38,700 (+77.7%), from -€49,808 to -€11,107
- Financial charges -€3,882
down €3,882 (-94.3%), from €4,117 to €234
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 | €350,108 | €365,537 | +€15,429 | +4.4% |
| Fixed assets | 21/28 | €1,081 | €681 | -€400 | -37.0% |
| Tangible fixed assets | 22/27 | €1,081 | €681 | -€400 | -37.0% |
| Furniture and vehicles | 24 | €1,081 | €681 | -€400 | -37.0% |
| Current assets | 29/58 | €349,027 | €364,855 | +€15,828 | +4.5% |
| Stocks and contracts in progress | 3 | €294,501 | €349,769 | +€55,268 | +18.8% |
| Stocks | 30/36 | €294,501 | €349,769 | +€55,268 | +18.8% |
| Amounts receivable within one year | 40/41 | €21,690 | €1,067 | -€20,623 | -95.1% |
| Trade receivables | 40 | €16,830 | - | -€16,830 | |
| Other amounts receivable | 41 | €4,859 | €1,067 | -€3,793 | -78.1% |
| Cash at bank and in hand | 54/58 | €19,647 | €2,295 | -€17,352 | -88.3% |
| Deferred charges and accrued income | 490/1 | €13,190 | €11,725 | -€1,465 | -11.1% |
| Total equity and liabilities | 10/49 | €350,108 | €365,537 | +€15,429 | +4.4% |
| Equity | 10/15 | -€76,040 | -€88,408 | -€12,368 | -16.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,040 | -€108,408 | -€12,368 | -12.9% |
| Amounts payable | 17/49 | €426,148 | €453,945 | +€27,796 | +6.5% |
| Amounts payable within one year | 42/48 | €419,648 | €453,945 | +€34,296 | +8.2% |
| Trade debts | 44 | €24,873 | €4,473 | -€20,401 | -82.0% |
| Suppliers | 440/4 | €24,873 | €4,473 | -€20,401 | -82.0% |
| Taxes, remuneration and social security | 45 | - | €53 | +€53 | |
| Taxes | 450/3 | - | €53 | +€53 | |
| Other amounts payable | 47/48 | €394,775 | €449,420 | +€54,644 | +13.8% |
| Accrued charges and deferred income | 492/3 | €6,500 | - | -€6,500 | |
| Remuneration, social security and pensions | 62 | €67 | - | -€67 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €400 | €400 | = | 0.0% |
| Other operating charges | 640/8 | €770 | €626 | -€144 | -18.7% |
| Gross operating margin | 9900 | -€49,808 | -€11,107 | +€38,700 | +77.7% |
| Operating profit (loss) | 9901 | -€51,045 | -€12,133 | +€38,912 | +76.2% |
| Financial charges | 65/66B | €4,117 | €234 | -€3,882 | -94.3% |
| Recurring financial charges | 65 | €4,117 | €234 | -€3,882 | -94.3% |
| Profit (loss) for the period before taxes | 9903 | -€55,161 | -€12,368 | +€42,794 | +77.6% |
| Profit (loss) for the period | 9904 | -€55,161 | -€12,368 | +€42,794 | +77.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,161 | -€12,368 | +€42,794 | +77.6% |
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 27 October 2026 via checked.be.