PROJECT STADSGRAAF: 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 STADSGRAAF
Largest movements
- Receivables within one year +€586,393
up €586,393 (+498.3%), from €117,671 to €704,063
- Cash -€233,829
down €233,829 (-88.2%), from €265,077 to €31,247
mainly Receivables within one year (-€586,393) and Other debts (-€118,433)
- Stocks and contracts -€162,353
down €162,353 (-13.2%), from €1.2m to €1.1m
- Profit (loss) carried forward +€234,755
up €234,755, from -€25,630 to €209,125
- Other debts -€118,433
no longer reported in 2025 (was €118,433)
- Tax, wage and social debts +€76,127
new in 2025: €76,127
- Turnover +€522,376
new in 2025: €522,376
- Gross operating margin +€320,483
up €320,483, from -€8,306 to €312,177
- Taxes +€76,127
new in 2025: €76,127
- Purchases and services +€47,846
new in 2025: €47,846
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 | €1,610,207 | €1,802,663 | +€192,456 | +12.0% |
| Current assets | 29/58 | €1,610,207 | €1,802,663 | +€192,456 | +12.0% |
| Stocks and contracts in progress | 3 | €1,227,459 | €1,065,107 | -€162,353 | -13.2% |
| Stocks | 30/36 | €1,227,459 | €1,065,107 | -€162,353 | -13.2% |
| Amounts receivable within one year | 40/41 | €117,671 | €704,063 | +€586,393 | +498.3% |
| Other amounts receivable | 41 | €117,671 | €704,063 | +€586,393 | +498.3% |
| Cash at bank and in hand | 54/58 | €265,077 | €31,247 | -€233,829 | -88.2% |
| Deferred charges and accrued income | 490/1 | - | €2,246 | +€2,246 | |
| Total equity and liabilities | 10/49 | €1,610,207 | €1,802,663 | +€192,456 | +12.0% |
| Equity | 10/15 | €1,474,370 | €1,709,125 | +€234,755 | +15.9% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,630 | €209,125 | +€234,755 | |
| Amounts payable | 17/49 | €135,836 | €93,538 | -€42,299 | -31.1% |
| Amounts payable within one year | 42/48 | €135,836 | €93,538 | -€42,299 | -31.1% |
| Trade debts | 44 | €17,403 | €17,411 | +€8 | 0.0% |
| Suppliers | 440/4 | €17,403 | €17,411 | +€8 | 0.0% |
| Taxes, remuneration and social security | 45 | - | €76,127 | +€76,127 | |
| Taxes | 450/3 | - | €76,127 | +€76,127 | |
| Other amounts payable | 47/48 | €118,433 | - | -€118,433 | |
| Turnover | 70 | - | €522,376 | +€522,376 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €47,846 | +€47,846 | |
| Other operating charges | 640/8 | €1,030 | €1,060 | +€31 | +3.0% |
| Gross operating margin | 9900 | -€8,306 | €312,177 | +€320,483 | |
| Operating profit (loss) | 9901 | -€9,335 | €311,117 | +€320,452 | |
| Financial charges | 65/66B | €204 | €235 | +€32 | +15.6% |
| Recurring financial charges | 65 | €204 | €235 | +€32 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | -€9,539 | €310,881 | +€320,420 | |
| Income taxes | 67/77 | - | €76,127 | +€76,127 | |
| Profit (loss) for the period | 9904 | -€9,539 | €234,755 | +€244,294 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,539 | €234,755 | +€244,294 |
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 9 October 2026 via checked.be.