PROJECT MANAGEMENT PLUS: 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 MANAGEMENT PLUS
Largest movements
- Tangible fixed assets -€15,122
down €15,122 (-20.4%), from €74,085 to €58,963
of which Furniture and vehicles: -€7,611
- Cash +€12,899
up €12,899 (+35.0%), from €36,809 to €49,708
mainly Depreciation (+€20,909) and Net result for the year (+€11,870)
- Debts after one year -€12,505
down €12,505 (-18.8%), from €66,418 to €53,913
- Reserves +€11,870
up €11,870 (+35.6%), from €33,382 to €45,252
of which Distributable reserves: +€11,870
- Tax, wage and social debts -€1,533
down €1,533 (-20.9%), from €7,330 to €5,797
- Taxes +€4,038
up €4,038 (+829.1%), from €487 to €4,525
- Depreciation -€1,973
down €1,973 (-8.6%), from €22,882 to €20,909
- Gross operating margin -€734
down €734 (-1.7%), from €42,776 to €42,042
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 | €127,363 | €125,303 | -€2,061 | -1.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €74,085 | €58,963 | -€15,122 | -20.4% |
| Tangible fixed assets | 22/27 | €74,085 | €58,963 | -€15,122 | -20.4% |
| Land and buildings | 22 | €55,534 | €49,751 | -€5,784 | -10.4% |
| Plant, machinery and equipment | 23 | €4,702 | €2,975 | -€1,727 | -36.7% |
| Furniture and vehicles | 24 | €13,849 | €6,238 | -€7,611 | -55.0% |
| Current assets | 29/58 | €53,278 | €66,339 | +€13,062 | +24.5% |
| Amounts receivable within one year | 40/41 | €16,276 | €15,986 | -€289 | -1.8% |
| Trade receivables | 40 | €15,216 | €14,730 | -€486 | -3.2% |
| Other amounts receivable | 41 | €1,059 | €1,256 | +€197 | +18.6% |
| Cash at bank and in hand | 54/58 | €36,809 | €49,708 | +€12,899 | +35.0% |
| Deferred charges and accrued income | 490/1 | €193 | €645 | +€452 | +234.6% |
| Total equity and liabilities | 10/49 | €127,363 | €125,303 | -€2,061 | -1.6% |
| Equity | 10/15 | €40,382 | €52,252 | +€11,870 | +29.4% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €33,382 | €45,252 | +€11,870 | +35.6% |
| Tax-exempt reserves | 132 | €5,974 | €5,974 | = | 0.0% |
| Distributable reserves | 133 | €27,409 | €39,279 | +€11,870 | +43.3% |
| Amounts payable | 17/49 | €86,981 | €73,050 | -€13,930 | -16.0% |
| Amounts payable after more than one year | 17 | €66,418 | €53,913 | -€12,505 | -18.8% |
| Financial debts | 170/4 | €66,418 | €53,913 | -€12,505 | -18.8% |
| Amounts payable within one year | 42/48 | €20,563 | €19,137 | -€1,426 | -6.9% |
| Current portion of amounts payable after more than one year | 42 | €12,338 | €12,610 | +€272 | +2.2% |
| Trade debts | 44 | €895 | €730 | -€165 | -18.5% |
| Suppliers | 440/4 | €895 | €730 | -€165 | -18.5% |
| Taxes, remuneration and social security | 45 | €7,330 | €5,797 | -€1,533 | -20.9% |
| Taxes | 450/3 | €7,330 | €5,797 | -€1,533 | -20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,882 | €20,909 | -€1,973 | -8.6% |
| Other operating charges | 640/8 | €2,179 | €1,839 | -€340 | -15.6% |
| Gross operating margin | 9900 | €42,776 | €42,042 | -€734 | -1.7% |
| Operating profit (loss) | 9901 | €17,715 | €19,294 | +€1,579 | +8.9% |
| Financial income | 75/76B | €58 | €276 | +€218 | +374.2% |
| Recurring financial income | 75 | €58 | €276 | +€218 | +374.2% |
| Financial charges | 65/66B | €3,333 | €3,174 | -€159 | -4.8% |
| Recurring financial charges | 65 | €3,333 | €3,174 | -€159 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €14,440 | €16,395 | +€1,955 | +13.5% |
| Income taxes | 67/77 | €487 | €4,525 | +€4,038 | +829.1% |
| Profit (loss) for the period | 9904 | €13,953 | €11,870 | -€2,083 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,953 | €11,870 | -€2,083 | -14.9% |
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 11 October 2026 via checked.be.