project UP: 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 UP
Largest movements
- Receivables within one year +€18,529
up €18,529 (+346.1%), from €5,354 to €23,883
of which Other amounts receivable: +€13,955
- Cash -€8,232
no longer reported in 2025 (was €8,232)
mainly Receivables within one year (-€18,529) and Trade debts (-€3,375)
- Reserves +€5,759
new in 2025: €5,759
- Short-term financial debts +€4,668
new in 2025: €4,668
- Trade debts -€3,375
down €3,375 (-35.6%), from €9,470 to €6,094
- Profit (loss) carried forward +€2,063
no longer reported in 2025 (was -€2,063)
- Tax, wage and social debts +€2,007
up €2,007 (+292.7%), from €686 to €2,692
- Gross operating margin +€6,646
up €6,646 (+133.3%), from €4,986 to €11,632
- Other operating charges -€2,764
down €2,764 (-86.7%), from €3,187 to €423
- Taxes +€1,321
up €1,321 (+192.7%), from €686 to €2,007
- Financial charges -€1,067
down €1,067 (-37.1%), from €2,878 to €1,811
- Financial income +€631
new in 2025: €631
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 | €14,476 | €24,589 | +€10,113 | +69.9% |
| Fixed assets | 21/28 | €702 | €640 | -€62 | -8.8% |
| Intangible fixed assets | 21 | €702 | €502 | -€200 | -28.5% |
| Financial fixed assets | 28 | - | €138 | +€138 | |
| Current assets | 29/58 | €13,775 | €23,950 | +€10,175 | +73.9% |
| Amounts receivable within one year | 40/41 | €5,354 | €23,883 | +€18,529 | +346.1% |
| Trade receivables | 40 | €4,514 | €9,087 | +€4,574 | +101.3% |
| Other amounts receivable | 41 | €840 | €14,796 | +€13,955 | +1661.0% |
| Cash at bank and in hand | 54/58 | €8,232 | - | -€8,232 | |
| Deferred charges and accrued income | 490/1 | €189 | €67 | -€122 | -64.7% |
| Total equity and liabilities | 10/49 | €14,476 | €24,589 | +€10,113 | +69.9% |
| Equity | 10/15 | -€63 | €7,759 | +€7,823 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €5,759 | +€5,759 | |
| Distributable reserves | 133 | - | €5,759 | +€5,759 | |
| Profit (loss) carried forward | 14 | -€2,063 | - | +€2,063 | |
| Amounts payable | 17/49 | €14,539 | €16,830 | +€2,290 | +15.8% |
| Amounts payable within one year | 42/48 | €14,539 | €16,830 | +€2,290 | +15.8% |
| Financial debts | 43 | - | €4,668 | +€4,668 | |
| Credit institutions | 430/8 | - | €4,668 | +€4,668 | |
| Trade debts | 44 | €9,470 | €6,094 | -€3,375 | -35.6% |
| Suppliers | 440/4 | €9,470 | €6,094 | -€3,375 | -35.6% |
| Taxes, remuneration and social security | 45 | €686 | €2,692 | +€2,007 | +292.7% |
| Taxes | 450/3 | €686 | €2,692 | +€2,007 | +292.7% |
| Other amounts payable | 47/48 | €4,384 | €3,375 | -€1,009 | -23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €298 | €200 | -€98 | -33.0% |
| Other operating charges | 640/8 | €3,187 | €423 | -€2,764 | -86.7% |
| Gross operating margin | 9900 | €4,986 | €11,632 | +€6,646 | +133.3% |
| Operating profit (loss) | 9901 | €1,500 | €11,008 | +€9,508 | +633.9% |
| Financial income | 75/76B | - | €631 | +€631 | |
| Recurring financial income | 75 | - | €631 | +€631 | |
| Financial charges | 65/66B | €2,878 | €1,811 | -€1,067 | -37.1% |
| Recurring financial charges | 65 | €2,878 | €1,811 | -€1,067 | -37.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,378 | €9,829 | +€11,207 | |
| Income taxes | 67/77 | €686 | €2,007 | +€1,321 | +192.7% |
| Profit (loss) for the period | 9904 | -€2,063 | €7,823 | +€9,886 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,063 | €7,823 | +€9,886 |
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 29 September 2026 via checked.be.