PROJECTHINGS: 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.
PROJECTHINGS
Largest movements
- Cash -€21,839
down €21,839 (-9.9%), from €220,804 to €198,964
mainly Contributions, distributions and other (-€74,278) and Investment in fixed assets (net) (-€2,143)
- Receivables within one year -€2,538
down €2,538 (-19.0%), from €13,325 to €10,787
of which Trade receivables: -€2,546
- Reserves -€25,280
down €25,280 (-12.9%), from €196,579 to €171,299
of which Distributable reserves: -€25,280
- Tax, wage and social debts +€3,992
up €3,992 (+37.5%), from €10,639 to €14,631
of which Taxes: +€3,972
- Gross operating margin -€14,523
down €14,523 (-17.3%), from €84,055 to €69,532
- Taxes -€4,400
down €4,400 (-19.4%), from €22,702 to €18,302
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 | €236,989 | €213,076 | -€23,913 | -10.1% |
| Fixed assets | 21/28 | €1,204 | €2,732 | +€1,528 | +127% |
| Tangible fixed assets | 22/27 | €1,204 | €2,732 | +€1,528 | +127% |
| Land and buildings | 22 | €1,041 | €630 | -€411 | -39.5% |
| Plant, machinery and equipment | 23 | €163 | €2,102 | +€1,939 | +1,191% |
| Current assets | 29/58 | €235,785 | €210,344 | -€25,441 | -10.8% |
| Amounts receivable within one year | 40/41 | €13,325 | €10,787 | -€2,538 | -19.0% |
| Trade receivables | 40 | €13,087 | €10,541 | -€2,546 | -19.5% |
| Other amounts receivable | 41 | €238 | €246 | +€8 | +3.4% |
| Cash at bank and in hand | 54/58 | €220,804 | €198,964 | -€21,839 | -9.9% |
| Deferred charges and accrued income | 490/1 | €1,656 | €592 | -€1,064 | -64.2% |
| Total equity and liabilities | 10/49 | €236,989 | €213,076 | -€23,913 | -10.1% |
| Equity | 10/15 | €215,179 | €189,899 | -€25,280 | -11.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €196,579 | €171,299 | -€25,280 | -12.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €194,719 | €169,439 | -€25,280 | -13.0% |
| Amounts payable | 17/49 | €21,810 | €23,177 | +€1,367 | +6.3% |
| Amounts payable within one year | 42/48 | €21,160 | €22,507 | +€1,346 | +6.4% |
| Trade debts | 44 | €5,406 | €3,969 | -€1,437 | -26.6% |
| Suppliers | 440/4 | €5,406 | €3,969 | -€1,437 | -26.6% |
| Taxes, remuneration and social security | 45 | €10,639 | €14,631 | +€3,992 | +37.5% |
| Taxes | 450/3 | €7,642 | €11,614 | +€3,972 | +52.0% |
| Remuneration and social security | 454/9 | €2,997 | €3,017 | +€20 | +0.7% |
| Other amounts payable | 47/48 | €5,115 | €3,907 | -€1,208 | -23.6% |
| Accrued charges and deferred income | 492/3 | €649 | €670 | +€21 | +3.2% |
| Non-recurring operating income | 76A | - | €6,198 | +€6,198 | |
| Remuneration, social security and pensions | 62 | €796 | €391 | -€405 | -50.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €611 | €615 | +€4 | +0.6% |
| Other operating charges | 640/8 | €664 | €1,101 | +€437 | +65.9% |
| Gross operating margin | 9900 | €84,055 | €69,532 | -€14,523 | -17.3% |
| Operating profit (loss) | 9901 | €81,984 | €67,425 | -€14,559 | -17.8% |
| Financial income | 75/76B | €4 | €3 | -€2 | -41.2% |
| Recurring financial income | 75 | €4 | €3 | -€2 | -41.2% |
| Financial charges | 65/66B | €267 | €127 | -€140 | -52.5% |
| Recurring financial charges | 65 | €267 | €127 | -€140 | -52.5% |
| Profit (loss) for the period before taxes | 9903 | €81,721 | €67,300 | -€14,421 | -17.6% |
| Income taxes | 67/77 | €22,702 | €18,302 | -€4,400 | -19.4% |
| Profit (loss) for the period | 9904 | €59,019 | €48,998 | -€10,021 | -17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €59,019 | €48,998 | -€10,021 | -17.0% |
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 17 October 2026 via checked.be.