Projectline: 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.
Projectline
Largest movements
- Cash +€23,677
up €23,677 (+141.5%), from €16,728 to €40,405
mainly Net result for the year (+€72,204) and Current investments (+€11,169)
- Current investments -€11,169
down €11,169 (-12.4%), from €89,776 to €78,607
- Tangible fixed assets -€10,462
down €10,462 (-30.1%), from €34,771 to €24,309
- Receivables within one year +€6,354
up €6,354 (+9.0%), from €70,499 to €76,853
of which Other amounts receivable: +€6,711
- Deferred charges and accrued income +€5,598
up €5,598, from €0 to €5,598
- Debts after one year -€11,688
down €11,688 (-43.8%), from €26,668 to €14,981
- Reserves +€10,000
up €10,000 (+14.6%), from €68,360 to €78,360
of which Distributable reserves: +€10,000
- Trade debts +€9,126
up €9,126 (+2195.7%), from €416 to €9,541
- Other debts +€2,700
up €2,700 (+5.0%), from €53,950 to €56,650
- Gross operating margin +€16,861
up €16,861 (+17.6%), from €95,876 to €112,737
- Taxes +€11,502
up €11,502 (+57.6%), from €19,954 to €31,456
- Other operating charges -€5,016
down €5,016 (-79.8%), from €6,289 to €1,273
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 | €211,773 | €225,772 | +€13,998 | +6.6% |
| Fixed assets | 21/28 | €34,771 | €24,309 | -€10,462 | -30.1% |
| Tangible fixed assets | 22/27 | €34,771 | €24,309 | -€10,462 | -30.1% |
| Furniture and vehicles | 24 | €34,771 | €24,309 | -€10,462 | -30.1% |
| Current assets | 29/58 | €177,002 | €201,463 | +€24,460 | +13.8% |
| Amounts receivable within one year | 40/41 | €70,499 | €76,853 | +€6,354 | +9.0% |
| Trade receivables | 40 | €16,517 | €16,159 | -€357 | -2.2% |
| Other amounts receivable | 41 | €53,982 | €60,693 | +€6,711 | +12.4% |
| Current investments | 50/53 | €89,776 | €78,607 | -€11,169 | -12.4% |
| Cash at bank and in hand | 54/58 | €16,728 | €40,405 | +€23,677 | +141.5% |
| Deferred charges and accrued income | 490/1 | €0 | €5,598 | +€5,598 | |
| Total equity and liabilities | 10/49 | €211,773 | €225,772 | +€13,998 | +6.6% |
| Equity | 10/15 | €81,591 | €93,795 | +€12,204 | +15.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €68,360 | €78,360 | +€10,000 | +14.6% |
| 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 | €66,500 | €76,500 | +€10,000 | +15.0% |
| Profit (loss) carried forward | 14 | €831 | €3,035 | +€2,204 | +265.3% |
| Amounts payable | 17/49 | €130,183 | €131,977 | +€1,794 | +1.4% |
| Amounts payable after more than one year | 17 | €26,668 | €14,981 | -€11,688 | -43.8% |
| Financial debts | 170/4 | €26,668 | €14,981 | -€11,688 | -43.8% |
| Amounts payable within one year | 42/48 | €103,514 | €116,996 | +€13,482 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €11,430 | €11,688 | +€258 | +2.3% |
| Trade debts | 44 | €416 | €9,541 | +€9,126 | +2195.7% |
| Suppliers | 440/4 | €416 | €9,541 | +€9,126 | +2195.7% |
| Taxes, remuneration and social security | 45 | €37,718 | €39,117 | +€1,399 | +3.7% |
| Taxes | 450/3 | €37,718 | €39,117 | +€1,399 | +3.7% |
| Other amounts payable | 47/48 | €53,950 | €56,650 | +€2,700 | +5.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,270 | €11,146 | -€124 | -1.1% |
| Other operating charges | 640/8 | €6,289 | €1,273 | -€5,016 | -79.8% |
| Gross operating margin | 9900 | €95,876 | €112,737 | +€16,861 | +17.6% |
| Operating profit (loss) | 9901 | €78,317 | €100,317 | +€22,000 | +28.1% |
| Financial income | 75/76B | €3,772 | €4,279 | +€507 | +13.4% |
| Recurring financial income | 75 | €3,772 | €4,279 | +€507 | +13.4% |
| Financial charges | 65/66B | €1,173 | €937 | -€236 | -20.1% |
| Recurring financial charges | 65 | €1,173 | €937 | -€236 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €80,916 | €103,660 | +€22,744 | +28.1% |
| Income taxes | 67/77 | €19,954 | €31,456 | +€11,502 | +57.6% |
| Profit (loss) for the period | 9904 | €60,963 | €72,204 | +€11,241 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €60,963 | €72,204 | +€11,241 | +18.4% |
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 7 October 2026 via checked.be.