PROJECT SUPPORT: what changed
Two fiscal 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 SUPPORT
Largest movements
- Receivables within one year -€12,290
down €12,290 (-26.4%), from €46,510 to €34,220
of which Trade receivables: -€12,993
- Tangible fixed assets +€11,409
up €11,409 (+10.7%), from €106,254 to €117,663
of which Furniture and vehicles: +€32,486
- Other debts +€12,234
up €12,234 (+65.3%), from €18,736 to €30,970
- Trade debts -€10,226
down €10,226 (-68.9%), from €14,845 to €4,618
- Debts after one year -€8,334
no longer reported in 2025 (was €8,334)
- Reserves +€6,158
up €6,158 (+1.9%), from €332,429 to €338,586
of which Distributable reserves: +€6,158
- Gross operating margin -€20,034
down €20,034 (-39.0%), from €51,418 to €31,384
- Staff costs -€17,038
no longer reported in 2025 (was €17,038)
- Financial income +€8,222
up €8,222 (+475.5%), from €1,729 to €9,951
- Other operating charges -€2,553
down €2,553 (-31.8%), from €8,028 to €5,475
- Depreciation +€1,922
up €1,922 (+8.3%), from €23,215 to €25,137
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 | €412,589 | €411,431 | -€1,159 | -0.3% |
| Fixed assets | 21/28 | €106,254 | €117,663 | +€11,409 | +10.7% |
| Tangible fixed assets | 22/27 | €106,254 | €117,663 | +€11,409 | +10.7% |
| Land and buildings | 22 | €99,777 | €79,480 | -€20,297 | -20.3% |
| Plant, machinery and equipment | 23 | €1,730 | €950 | -€780 | -45.1% |
| Furniture and vehicles | 24 | €4,747 | €37,232 | +€32,486 | +684.4% |
| Current assets | 29/58 | €306,335 | €293,768 | -€12,567 | -4.1% |
| Stocks and contracts in progress | 3 | €2,825 | €2,120 | -€705 | -25.0% |
| Contracts in progress | 37 | €2,825 | €2,120 | -€705 | -25.0% |
| Amounts receivable within one year | 40/41 | €46,510 | €34,220 | -€12,290 | -26.4% |
| Trade receivables | 40 | €45,799 | €32,806 | -€12,993 | -28.4% |
| Other amounts receivable | 41 | €711 | €1,414 | +€703 | +98.9% |
| Current investments | 50/53 | €166,543 | €166,543 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €80,043 | €81,858 | +€1,815 | +2.3% |
| Deferred charges and accrued income | 490/1 | €10,414 | €9,027 | -€1,387 | -13.3% |
| Total equity and liabilities | 10/49 | €412,589 | €411,431 | -€1,159 | -0.3% |
| Equity | 10/15 | €351,021 | €357,178 | +€6,158 | +1.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €332,429 | €338,586 | +€6,158 | +1.9% |
| Tax-exempt reserves | 132 | €19,403 | €19,403 | = | 0.0% |
| Distributable reserves | 133 | €313,026 | €319,184 | +€6,158 | +2.0% |
| Amounts payable | 17/49 | €61,568 | €54,252 | -€7,316 | -11.9% |
| Amounts payable after more than one year | 17 | €8,334 | - | -€8,334 | |
| Financial debts | 170/4 | €8,334 | - | -€8,334 | |
| Amounts payable within one year | 42/48 | €49,905 | €48,906 | -€998 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €8,334 | -€1,666 | -16.7% |
| Trade debts | 44 | €14,845 | €4,618 | -€10,226 | -68.9% |
| Suppliers | 440/4 | €14,845 | €4,618 | -€10,226 | -68.9% |
| Taxes, remuneration and social security | 45 | €6,324 | €4,984 | -€1,340 | -21.2% |
| Taxes | 450/3 | €5,202 | €4,984 | -€218 | -4.2% |
| Remuneration and social security | 454/9 | €1,122 | - | -€1,122 | |
| Other amounts payable | 47/48 | €18,736 | €30,970 | +€12,234 | +65.3% |
| Accrued charges and deferred income | 492/3 | €3,330 | €5,346 | +€2,016 | +60.5% |
| Remuneration, social security and pensions | 62 | €17,038 | - | -€17,038 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,215 | €25,137 | +€1,922 | +8.3% |
| Other operating charges | 640/8 | €8,028 | €5,475 | -€2,553 | -31.8% |
| Gross operating margin | 9900 | €51,418 | €31,384 | -€20,034 | -39.0% |
| Operating profit (loss) | 9901 | €3,137 | €772 | -€2,365 | -75.4% |
| Financial income | 75/76B | €1,729 | €9,951 | +€8,222 | +475.5% |
| Recurring financial income | 75 | €1,729 | €9,951 | +€8,222 | +475.5% |
| Financial charges | 65/66B | €3,179 | €2,483 | -€695 | -21.9% |
| Recurring financial charges | 65 | €3,179 | €2,483 | -€695 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €1,687 | €8,240 | +€6,552 | +388.4% |
| Income taxes | 67/77 | €894 | €2,082 | +€1,188 | +132.9% |
| Profit (loss) for the period | 9904 | €793 | €6,158 | +€5,364 | +676.4% |
| Profit (loss) for the period to be appropriated | 9905 | €793 | €6,158 | +€5,364 | +676.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.