Project U/Turn: 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 U/Turn
Largest movements
- Cash +€324
up €324 (+1.3%), from €24,443 to €24,767
mainly Net result for the year (+€2,941) and Trade debts (+€666)
- Other debts -€3,402
down €3,402 (-45.3%), from €7,516 to €4,114
- Reserves +€2,941
up €2,941 (+34.1%), from €8,633 to €11,574
- Trade debts +€666
new in 2025: €666
- Gross operating margin -€3,598
down €3,598 (-46.1%), from €7,799 to €4,201
- Taxes +€261
up €261 (+38.5%), from €677 to €938
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 | €24,443 | €24,767 | +€324 | +1.3% |
| Current assets | 29/58 | €24,443 | €24,767 | +€324 | +1.3% |
| Cash at bank and in hand | 54/58 | €24,443 | €24,767 | +€324 | +1.3% |
| Total equity and liabilities | 10/49 | €24,443 | €24,767 | +€324 | +1.3% |
| Equity | 10/15 | €15,739 | €18,680 | +€2,941 | +18.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €8,633 | €11,574 | +€2,941 | +34.1% |
| Distributable reserves | 133 | €8,633 | €11,574 | +€2,941 | +34.1% |
| Profit (loss) carried forward | 14 | €906 | €906 | = | 0.0% |
| Amounts payable | 17/49 | €8,703 | €6,087 | -€2,616 | -30.1% |
| Amounts payable within one year | 42/48 | €8,703 | €6,087 | -€2,616 | -30.1% |
| Trade debts | 44 | - | €666 | +€666 | |
| Suppliers | 440/4 | - | €666 | +€666 | |
| Taxes, remuneration and social security | 45 | €1,187 | €1,307 | +€120 | +10.1% |
| Taxes | 450/3 | €1,187 | €1,307 | +€120 | +10.1% |
| Other amounts payable | 47/48 | €7,516 | €4,114 | -€3,402 | -45.3% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €7,799 | €4,201 | -€3,598 | -46.1% |
| Operating profit (loss) | 9901 | €7,411 | €3,801 | -€3,611 | -48.7% |
| Financial income | 75/76B | €39 | €78 | +€38 | +98.2% |
| Recurring financial income | 75 | €39 | €78 | +€38 | +98.2% |
| Profit (loss) for the period before taxes | 9903 | €7,451 | €3,879 | -€3,572 | -47.9% |
| Income taxes | 67/77 | €677 | €938 | +€261 | +38.5% |
| Profit (loss) for the period | 9904 | €6,773 | €2,941 | -€3,833 | -56.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,773 | €2,941 | -€3,833 | -56.6% |
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 8 October 2026 via checked.be.