Project-XXL: 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-XXL
Largest movements
- Receivables within one year -€12,917
down €12,917 (-30.7%), from €42,085 to €29,168
of which Other amounts receivable: -€13,922
- Cash -€3,283
down €3,283 (-13.8%), from €23,726 to €20,443
mainly Other debts (-€19,000) and Tax, wage and social debts (-€312)
- Other debts -€19,000
no longer reported in 2025 (was €19,000)
- Trade debts +€1,353
up €1,353 (+2,059%), from €66 to €1,419
- Reserves +€1,088
up €1,088 (+376%), from €289 to €1,378
- Gross operating margin -€26,954
down €26,954 (-17.9%), from €150,389 to €123,435
- Staff costs +€5,514
up €5,514 (+4.8%), from €114,445 to €119,958
- Taxes -€5,180
down €5,180 (-88.7%), from €5,841 to €660
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 | €67,536 | €50,665 | -€16,871 | -25.0% |
| Fixed assets | 21/28 | €490 | - | -€490 | |
| Tangible fixed assets | 22/27 | €490 | - | -€490 | |
| Furniture and vehicles | 24 | €490 | - | -€490 | |
| Current assets | 29/58 | €67,046 | €50,665 | -€16,381 | -24.4% |
| Amounts receivable within one year | 40/41 | €42,085 | €29,168 | -€12,917 | -30.7% |
| Trade receivables | 40 | €27,954 | €28,960 | +€1,006 | +3.6% |
| Other amounts receivable | 41 | €14,131 | €208 | -€13,922 | -98.5% |
| Cash at bank and in hand | 54/58 | €23,726 | €20,443 | -€3,283 | -13.8% |
| Deferred charges and accrued income | 490/1 | €1,235 | €1,054 | -€182 | -14.7% |
| Total equity and liabilities | 10/49 | €67,536 | €50,665 | -€16,871 | -25.0% |
| Equity | 10/15 | €18,889 | €19,978 | +€1,088 | +5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €289 | €1,378 | +€1,088 | +376% |
| Distributable reserves | 133 | €289 | €1,378 | +€1,088 | +376% |
| Amounts payable | 17/49 | €48,646 | €30,687 | -€17,959 | -36.9% |
| Amounts payable within one year | 42/48 | €47,396 | €29,437 | -€17,959 | -37.9% |
| Trade debts | 44 | €66 | €1,419 | +€1,353 | +2,059% |
| Suppliers | 440/4 | €66 | €1,419 | +€1,353 | +2,059% |
| Taxes, remuneration and social security | 45 | €28,330 | €28,018 | -€312 | -1.1% |
| Taxes | 450/3 | €15,839 | €15,569 | -€270 | -1.7% |
| Remuneration and social security | 454/9 | €12,491 | €12,449 | -€42 | -0.3% |
| Other amounts payable | 47/48 | €19,000 | - | -€19,000 | |
| Accrued charges and deferred income | 492/3 | €1,250 | €1,250 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €114,445 | €119,958 | +€5,514 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,250 | €490 | -€760 | -60.8% |
| Other operating charges | 640/8 | €339 | €1,158 | +€819 | +241% |
| Gross operating margin | 9900 | €150,389 | €123,435 | -€26,954 | -17.9% |
| Operating profit (loss) | 9901 | €34,355 | €1,829 | -€32,526 | -94.7% |
| Financial income | 75/76B | €671 | €410 | -€261 | -38.9% |
| Recurring financial income | 75 | €671 | €410 | -€261 | -38.9% |
| Financial charges | 65/66B | €659 | €491 | -€168 | -25.5% |
| Recurring financial charges | 65 | €659 | €491 | -€168 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | €34,368 | €1,749 | -€32,619 | -94.9% |
| Income taxes | 67/77 | €5,841 | €660 | -€5,180 | -88.7% |
| Profit (loss) for the period | 9904 | €28,527 | €1,088 | -€27,439 | -96.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,527 | €1,088 | -€27,439 | -96.2% |
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 29 October 2026 via checked.be.