PROJECT SUPPLIES & 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 SUPPLIES & SERVICES
Largest movements
- Cash -€82,559
down €82,559 (-34.8%), from €237,540 to €154,981
mainly Short-term financial debts (-€75,000) and Receivables within one year (-€52,299)
- Receivables within one year +€52,299
up €52,299 (+14.1%), from €371,659 to €423,959
of which Trade receivables: +€44,885
- Stocks and contracts +€23,810
up €23,810 (+120%), from €19,826 to €43,636
- Tangible fixed assets +€11,514
up €11,514 (+50.4%), from €22,845 to €34,359
of which Other tangible fixed assets: +€18,807
- Accrued charges and deferred income +€92,962
up €92,962 (+164%), from €56,777 to €149,739
- Short-term financial debts -€75,000
down €75,000 (-50.0%), from €150,000 to €75,000
- Advances received -€40,183
down €40,183 (-100%), from €40,183 to €0
- Reserves +€34,190
up €34,190 (+25.3%), from €135,029 to €169,218
- Financial income +€21,710
up €21,710 (+278%), from €7,805 to €29,515
- Staff costs +€20,113
new in 2025: €20,113
- Gross operating margin +€11,652
up €11,652 (+18.5%), from €62,998 to €74,650
- Write-downs +€6,230
up €6,230, from €0 to €6,230
- Financial charges +€2,451
up €2,451 (+19.7%), from €12,430 to €14,881
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 | €651,870 | €657,241 | +€5,370 | +0.8% |
| Fixed assets | 21/28 | €22,845 | €34,359 | +€11,514 | +50.4% |
| Tangible fixed assets | 22/27 | €22,845 | €34,359 | +€11,514 | +50.4% |
| Plant, machinery and equipment | 23 | €1,985 | €452 | -€1,533 | -77.2% |
| Furniture and vehicles | 24 | €5,760 | €0 | -€5,760 | -100% |
| Other tangible fixed assets | 26 | €15,100 | €33,907 | +€18,807 | +125% |
| Current assets | 29/58 | €629,026 | €622,882 | -€6,144 | -1.0% |
| Stocks and contracts in progress | 3 | €19,826 | €43,636 | +€23,810 | +120% |
| Stocks | 30/36 | €19,826 | €43,636 | +€23,810 | +120% |
| Amounts receivable within one year | 40/41 | €371,659 | €423,959 | +€52,299 | +14.1% |
| Trade receivables | 40 | €326,396 | €371,281 | +€44,885 | +13.8% |
| Other amounts receivable | 41 | €45,263 | €52,678 | +€7,415 | +16.4% |
| Cash at bank and in hand | 54/58 | €237,540 | €154,981 | -€82,559 | -34.8% |
| Deferred charges and accrued income | 490/1 | - | €306 | +€306 | |
| Total equity and liabilities | 10/49 | €651,870 | €657,241 | +€5,370 | +0.8% |
| Equity | 10/15 | €153,629 | €187,818 | +€34,190 | +22.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €135,029 | €169,218 | +€34,190 | +25.3% |
| Distributable reserves | 133 | €135,029 | €169,218 | +€34,190 | +25.3% |
| Amounts payable | 17/49 | €498,242 | €469,423 | -€28,819 | -5.8% |
| Amounts payable within one year | 42/48 | €441,465 | €319,684 | -€121,781 | -27.6% |
| Financial debts | 43 | €150,000 | €75,000 | -€75,000 | -50.0% |
| Credit institutions | 430/8 | €150,000 | €75,000 | -€75,000 | -50.0% |
| Trade debts | 44 | €182,053 | €176,831 | -€5,222 | -2.9% |
| Suppliers | 440/4 | €182,053 | €176,831 | -€5,222 | -2.9% |
| Advances received on contracts in progress | 46 | €40,183 | €0 | -€40,183 | -100% |
| Taxes, remuneration and social security | 45 | €34,360 | €37,870 | +€3,510 | +10.2% |
| Taxes | 450/3 | €34,360 | €35,388 | +€1,028 | +3.0% |
| Remuneration and social security | 454/9 | - | €2,481 | +€2,481 | |
| Other amounts payable | 47/48 | €34,869 | €29,983 | -€4,886 | -14.0% |
| Accrued charges and deferred income | 492/3 | €56,777 | €149,739 | +€92,962 | +164% |
| Remuneration, social security and pensions | 62 | - | €20,113 | +€20,113 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,021 | €10,660 | +€1,639 | +18.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €6,230 | +€6,230 | |
| Other operating charges | 640/8 | €521 | €323 | -€198 | -38.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €62,998 | €74,650 | +€11,652 | +18.5% |
| Operating profit (loss) | 9901 | €53,456 | €37,323 | -€16,133 | -30.2% |
| Financial income | 75/76B | €7,805 | €29,515 | +€21,710 | +278% |
| Recurring financial income | 75 | €7,805 | €29,515 | +€21,710 | +278% |
| Financial charges | 65/66B | €12,430 | €14,881 | +€2,451 | +19.7% |
| Recurring financial charges | 65 | €12,430 | €14,881 | +€2,451 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | €48,832 | €51,958 | +€3,126 | +6.4% |
| Income taxes | 67/77 | €17,620 | €17,768 | +€148 | +0.8% |
| Profit (loss) for the period | 9904 | €31,212 | €34,190 | +€2,978 | +9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,212 | €34,190 | +€2,978 | +9.5% |
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 20 October 2026 via checked.be.