PROJECT REAL ESTATE: 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 REAL ESTATE
Largest movements
- Receivables within one year -€3,998
down €3,998 (-12.2%), from €32,674 to €28,677
of which Trade receivables: -€3,000
- Tangible fixed assets -€1,194
down €1,194 (-43.5%), from €2,742 to €1,548
- Profit (loss) carried forward -€12,618
down €12,618 (-5.9%), from -€215,646 to -€228,264
- Other debts +€8,723
up €8,723 (+3.7%), from €236,403 to €245,126
- Trade debts -€2,722
down €2,722 (-48.8%), from €5,575 to €2,854
- Tax, wage and social debts +€917
up €917 (+29.0%), from €3,159 to €4,075
of which Remuneration and social security: +€1,315
- Accrued charges and deferred income +€515
up €515 (+266%), from €194 to €709
- Staff costs +€2,547
up €2,547 (+17.0%), from €15,012 to €17,560
- Financial income +€2,442
up €2,442 (+2,713,878%), from €0 to €2,443
- Depreciation -€674
down €674 (-36.1%), from €1,867 to €1,194
- Gross operating margin -€671
down €671 (-12.9%), from €5,190 to €4,519
- Financial charges +€192
up €192 (+80.3%), from €240 to €432
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 | €35,884 | €30,699 | -€5,185 | -14.4% |
| Fixed assets | 21/28 | €2,872 | €1,678 | -€1,194 | -41.6% |
| Tangible fixed assets | 22/27 | €2,742 | €1,548 | -€1,194 | -43.5% |
| Furniture and vehicles | 24 | €2,742 | €1,548 | -€1,194 | -43.5% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €33,012 | €29,021 | -€3,991 | -12.1% |
| Amounts receivable within one year | 40/41 | €32,674 | €28,677 | -€3,998 | -12.2% |
| Trade receivables | 40 | €3,000 | - | -€3,000 | |
| Other amounts receivable | 41 | €29,674 | €28,677 | -€998 | -3.4% |
| Cash at bank and in hand | 54/58 | €91 | €16 | -€75 | -82.3% |
| Deferred charges and accrued income | 490/1 | €247 | €328 | +€82 | +33.1% |
| Total equity and liabilities | 10/49 | €35,884 | €30,699 | -€5,185 | -14.4% |
| Equity | 10/15 | -€209,446 | -€222,064 | -€12,618 | -6.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | - | -€6,200 | |
| Other | 1109/19 | €6,200 | - | -€6,200 | |
| Profit (loss) carried forward | 14 | -€215,646 | -€228,264 | -€12,618 | -5.9% |
| Amounts payable | 17/49 | €245,330 | €252,764 | +€7,433 | +3.0% |
| Amounts payable within one year | 42/48 | €245,137 | €252,055 | +€6,918 | +2.8% |
| Trade debts | 44 | €5,575 | €2,854 | -€2,722 | -48.8% |
| Suppliers | 440/4 | €5,575 | €2,854 | -€2,722 | -48.8% |
| Taxes, remuneration and social security | 45 | €3,159 | €4,075 | +€917 | +29.0% |
| Taxes | 450/3 | €1,305 | €907 | -€398 | -30.5% |
| Remuneration and social security | 454/9 | €1,853 | €3,168 | +€1,315 | +70.9% |
| Other amounts payable | 47/48 | €236,403 | €245,126 | +€8,723 | +3.7% |
| Accrued charges and deferred income | 492/3 | €194 | €709 | +€515 | +266% |
| Remuneration, social security and pensions | 62 | €15,012 | €17,560 | +€2,547 | +17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,867 | €1,194 | -€674 | -36.1% |
| Other operating charges | 640/8 | €386 | €394 | +€8 | +2.0% |
| Gross operating margin | 9900 | €5,190 | €4,519 | -€671 | -12.9% |
| Operating profit (loss) | 9901 | -€12,076 | -€14,628 | -€2,553 | -21.1% |
| Financial income | 75/76B | €0 | €2,443 | +€2,442 | +2,713,878% |
| Recurring financial income | 75 | €0 | €2,443 | +€2,442 | +2,713,878% |
| Financial charges | 65/66B | €240 | €432 | +€192 | +80.3% |
| Recurring financial charges | 65 | €240 | €432 | +€192 | +80.3% |
| Profit (loss) for the period before taxes | 9903 | -€12,315 | -€12,618 | -€303 | -2.5% |
| Profit (loss) for the period | 9904 | -€12,315 | -€12,618 | -€303 | -2.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,315 | -€12,618 | -€303 | -2.5% |
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 30 October 2026 via checked.be.