Project & Services: 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 & Services
Largest movements
- Cash -€98,907
down €98,907 (-71.1%), from €139,038 to €40,131
mainly Net result for the year (-€82,082) and Debts after one year (-€9,435)
- Receivables within one year -€5,909
down €5,909 (-34.1%), from €17,315 to €11,405
of which Trade receivables: -€7,969
- Profit (loss) carried forward -€82,082
new in 2025: -€82,082
- Debts after one year -€9,435
no longer reported in 2025 (was €9,435)
- Other debts -€5,044
no longer reported in 2025 (was €5,044)
- Tax, wage and social debts -€4,038
down €4,038 (-92.5%), from €4,366 to €328
- Current portion of long-term debt -€2,991
down €2,991 (-24.1%), from €12,426 to €9,435
- Gross operating margin -€154,126
down €154,126, from €73,803 to -€80,323
- Depreciation -€26,427
no longer reported in 2025 (was €26,427)
- Taxes -€12,819
down €12,819 (-97.5%), from €13,147 to €328
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 | €206,387 | €101,573 | -€104,814 | -50.8% |
| Fixed assets | 21/28 | €47,791 | €48,299 | +€507 | +1.1% |
| Tangible fixed assets | 22/27 | €47,791 | €48,299 | +€507 | +1.1% |
| Plant, machinery and equipment | 23 | €3,576 | €3,576 | = | 0.0% |
| Furniture and vehicles | 24 | €44,215 | €44,722 | +€507 | +1.1% |
| Current assets | 29/58 | €158,596 | €53,274 | -€105,322 | -66.4% |
| Amounts receivable within one year | 40/41 | €17,315 | €11,405 | -€5,909 | -34.1% |
| Trade receivables | 40 | €9,013 | €1,044 | -€7,969 | -88.4% |
| Other amounts receivable | 41 | €8,302 | €10,362 | +€2,059 | +24.8% |
| Cash at bank and in hand | 54/58 | €139,038 | €40,131 | -€98,907 | -71.1% |
| Deferred charges and accrued income | 490/1 | €2,243 | €1,738 | -€505 | -22.5% |
| Total equity and liabilities | 10/49 | €206,387 | €101,573 | -€104,814 | -50.8% |
| Equity | 10/15 | €171,611 | €89,529 | -€82,082 | -47.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €169,111 | €169,111 | = | 0.0% |
| Distributable reserves | 133 | €169,111 | €169,111 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€82,082 | -€82,082 | |
| Amounts payable | 17/49 | €34,776 | €12,044 | -€22,732 | -65.4% |
| Amounts payable after more than one year | 17 | €9,435 | - | -€9,435 | |
| Financial debts | 170/4 | €9,435 | - | -€9,435 | |
| Amounts payable within one year | 42/48 | €25,341 | €12,044 | -€13,297 | -52.5% |
| Current portion of amounts payable after more than one year | 42 | €12,426 | €9,435 | -€2,991 | -24.1% |
| Trade debts | 44 | €3,506 | €2,281 | -€1,224 | -34.9% |
| Suppliers | 440/4 | €3,506 | €2,281 | -€1,224 | -34.9% |
| Taxes, remuneration and social security | 45 | €4,366 | €328 | -€4,038 | -92.5% |
| Taxes | 450/3 | €4,366 | €328 | -€4,038 | -92.5% |
| Other amounts payable | 47/48 | €5,044 | - | -€5,044 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,427 | - | -€26,427 | |
| Other operating charges | 640/8 | €875 | €903 | +€29 | +3.3% |
| Gross operating margin | 9900 | €73,803 | -€80,323 | -€154,126 | |
| Operating profit (loss) | 9901 | €46,501 | -€81,227 | -€127,728 | |
| Financial income | 75/76B | €751 | - | -€751 | |
| Recurring financial income | 75 | €751 | - | -€751 | |
| Financial charges | 65/66B | €641 | €527 | -€114 | -17.8% |
| Recurring financial charges | 65 | €641 | €527 | -€114 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €46,611 | -€81,754 | -€128,365 | |
| Income taxes | 67/77 | €13,147 | €328 | -€12,819 | -97.5% |
| Profit (loss) for the period | 9904 | €33,464 | -€82,082 | -€115,546 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,464 | -€82,082 | -€115,546 |
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.