PROJECTIVE: 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.
What changed
PROJECTIVE
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€684,887
2024 · -€76,369+€761,256
Equity
€1.4m
2024 · €1.1m+€342,887
Cash
€1.1m
2024 · €325,322+€749,025
Balance sheet total
€5.3m
2024 · €4.5m+€754,600
Largest movements
Assets
- Cash +€749,025
up €749,025 (+230.2%), from €325,322 to €1.1m
mainly Net result for the year (+€684,887) and Tax, wage and social debts (+€336,932)
- Receivables within one year +€317,873
up €317,873 (+11.2%), from €2.8m to €3.1m
of which Trade receivables: +€600,926
- Intangible fixed assets -€231,019
down €231,019 (-54.9%), from €420,985 to €189,966
- Tangible fixed assets -€114,053
down €114,053 (-13.3%), from €855,041 to €740,988
of which Other tangible fixed assets: -€99,781
Equity and liabilities
- Reserves +€342,887
up €342,887 (+54.8%), from €625,976 to €968,863
of which Tax-exempt reserves: +€315,750
- Tax, wage and social debts +€336,932
up €336,932 (+42.0%), from €802,330 to €1.1m
of which Taxes: +€229,128
- Trade debts +€331,264
up €331,264 (+25.2%), from €1.3m to €1.6m
- Current portion of long-term debt -€312,256
down €312,256 (-75.2%), from €415,477 to €103,221
- Short-term financial debts +€246,387
up €246,387 (+235.1%), from €104,800 to €351,187
Income statement
- Turnover +€3.9m
up €3.9m (+27.9%), from €14.0m to €17.9m
- Goods and materials +€2.5m
up €2.5m (+42.9%), from €5.9m to €8.5m
- Staff costs -€218,537
down €218,537 (-3.7%), from €5.9m to €5.7m
- Other operating income +€185,055
up €185,055 (+108.4%), from €170,731 to €355,786
- Services and other goods +€180,808
up €180,808 (+7.7%), from €2.4m to €2.5m
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.
Result 2024
-€76,369
Turnover
+€3.9m
Other operating income
+€185,055
Goods and materials
-€2.5m
Services and other goods
-€180,808
Staff costs
+€218,537
Depreciation
-€6,405
Other operating charges
-€36,731
Other operating items
-€649,798
Financial income
-€2,705
Financial charges
-€13,000
Taxes
-€121,082
Result 2025
€684,887
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.
From operations
+€1.0m
Investment
+€213,221
Financing
-€511,090
Cash 2024
€325,322
From operations (derived)
+€1.0m
Net result for the year
+€684,887
Depreciation
+€131,202
Receivables within one year
-€317,873
Deferred charges and accrued income
-€32,125
Trade debts
+€331,264
Tax, wage and social debts
+€336,932
Other debts
-€171,005
Accrued charges and deferred income
+€83,613
Investment (derived)
+€213,221
Investment in fixed assets (net)
+€213,221
Financing
-€511,090
Debts after one year
-€103,221
Current portion of long-term debt
-€312,256
Short-term financial debts
+€246,387
Contributions, distributions and other
-€342,000
Cash 2025
€1.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,503,170 | €5,257,770 | +€754,600 | +16.8% |
| Fixed assets | 21/28 | €1,276,741 | €932,319 | -€344,422 | -27.0% |
| Intangible fixed assets | 21 | €420,985 | €189,966 | -€231,019 | -54.9% |
| Tangible fixed assets | 22/27 | €855,041 | €740,988 | -€114,053 | -13.3% |
| Plant, machinery and equipment | 23 | €37,892 | €23,619 | -€14,273 | -37.7% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €817,150 | €717,369 | -€99,781 | -12.2% |
| Financial fixed assets | 28 | €715 | €1,365 | +€650 | +90.9% |
| Other financial fixed assets | 284/8 | €715 | €1,365 | +€650 | +90.9% |
| Amounts receivable and cash guarantees | 285/8 | €715 | €1,365 | +€650 | +90.9% |
| Current assets | 29/58 | €3,226,429 | €4,325,451 | +€1.1m | +34.1% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,829,980 | €3,147,852 | +€317,873 | +11.2% |
| Trade receivables | 40 | €2,541,950 | €3,142,877 | +€600,926 | +23.6% |
| Other amounts receivable | 41 | €288,029 | €4,975 | -€283,054 | -98.3% |
| Cash at bank and in hand | 54/58 | €325,322 | €1,074,347 | +€749,025 | +230.2% |
| Deferred charges and accrued income | 490/1 | €71,127 | €103,252 | +€32,125 | +45.2% |
| Total equity and liabilities | 10/49 | €4,503,170 | €5,257,770 | +€754,600 | +16.8% |
| Equity | 10/15 | €1,060,040 | €1,402,927 | +€342,887 | +32.3% |
| Contributions | 10/11 | €434,064 | €434,064 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Outside capital | 11 | €372,564 | €372,564 | = | 0.0% |
| Share premium | 1100/10 | €372,564 | €372,564 | = | 0.0% |
| Reserves | 13 | €625,976 | €968,863 | +€342,887 | +54.8% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €212 | €315,962 | +€315,750 | +148840.4% |
| Distributable reserves | 133 | €619,614 | €646,751 | +€27,137 | +4.4% |
| Amounts payable | 17/49 | €3,443,130 | €3,854,843 | +€411,713 | +12.0% |
| Amounts payable after more than one year | 17 | €346,377 | €243,156 | -€103,221 | -29.8% |
| Financial debts | 170/4 | €340,377 | €237,156 | -€103,221 | -30.3% |
| Credit institutions | 173 | €340,377 | €237,156 | -€103,221 | -30.3% |
| Other amounts payable | 178/9 | €6,000 | €6,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,805,954 | €3,237,276 | +€431,322 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €415,477 | €103,221 | -€312,256 | -75.2% |
| Financial debts | 43 | €104,800 | €351,187 | +€246,387 | +235.1% |
| Credit institutions | 430/8 | €104,800 | €351,187 | +€246,387 | +235.1% |
| Trade debts | 44 | €1,312,342 | €1,643,606 | +€331,264 | +25.2% |
| Suppliers | 440/4 | €1,312,342 | €1,643,606 | +€331,264 | +25.2% |
| Taxes, remuneration and social security | 45 | €802,330 | €1,139,262 | +€336,932 | +42.0% |
| Taxes | 450/3 | €198,973 | €428,100 | +€229,128 | +115.2% |
| Remuneration and social security | 454/9 | €603,358 | €711,161 | +€107,804 | +17.9% |
| Other amounts payable | 47/48 | €171,005 | €0 | -€171,005 | -100.0% |
| Accrued charges and deferred income | 492/3 | €290,798 | €374,411 | +€83,613 | +28.8% |
| Operating income | 70/76A | €14,605,017 | €18,279,224 | +€3.7m | +25.2% |
| Turnover | 70 | €14,013,301 | €17,923,438 | +€3.9m | +27.9% |
| Own construction capitalised | 72 | €420,985 | €0 | -€420,985 | -100.0% |
| Other operating income | 74 | €170,731 | €355,786 | +€185,055 | +108.4% |
| Operating charges | 60/66A | €14,366,127 | €17,142,292 | +€2.8m | +19.3% |
| Goods for resale, raw materials and consumables | 60 | €5,926,376 | €8,468,321 | +€2.5m | +42.9% |
| Purchases | 600/8 | €5,926,376 | €8,468,321 | +€2.5m | +42.9% |
| Services and other goods | 61 | €2,359,026 | €2,539,834 | +€180,808 | +7.7% |
| Remuneration, social security and pensions | 62 | €5,915,116 | €5,696,578 | -€218,537 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,797 | €131,202 | +€6,405 | +5.1% |
| Other operating charges | 640/8 | €38,606 | €75,337 | +€36,731 | +95.1% |
| Non-recurring operating charges | 66A | €2,206 | €231,019 | +€228,813 | +10372.1% |
| Operating profit (loss) | 9901 | €238,890 | €1,136,933 | +€898,043 | +375.9% |
| Financial income | 75/76B | €4,286 | €1,581 | -€2,705 | -63.1% |
| Recurring financial income | 75 | €4,286 | €1,581 | -€2,705 | -63.1% |
| Income from current assets | 751 | €0 | €1,265 | +€1,265 | |
| Other financial income | 752/9 | €4,286 | €316 | -€3,970 | -92.6% |
| Financial charges | 65/66B | €142,034 | €155,034 | +€13,000 | +9.2% |
| Recurring financial charges | 65 | €142,034 | €155,034 | +€13,000 | +9.2% |
| Debt charges | 650 | €130,339 | €123,696 | -€6,643 | -5.1% |
| Other financial charges | 652/9 | €11,695 | €31,338 | +€19,643 | +168.0% |
| Profit (loss) for the period before taxes | 9903 | €101,142 | €983,480 | +€882,338 | +872.4% |
| Income taxes | 67/77 | €177,511 | €298,593 | +€121,082 | +68.2% |
| Taxes | 670/3 | €210,633 | €325,800 | +€115,167 | +54.7% |
| Tax adjustments and reversals of tax provisions | 77 | €33,121 | €27,207 | -€5,915 | -17.9% |
| Profit (loss) for the period | 9904 | -€76,369 | €684,887 | +€761,256 | |
| Transfer to tax-exempt reserves | 689 | - | €315,750 | +€315,750 | |
| Profit (loss) for the period to be appropriated | 9905 | -€76,369 | €369,137 | +€445,506 |
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 1 October 2026 via checked.be.