Projects & Company: 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.
Projects & Company
Largest movements
- Cash -€68,082
down €68,082 (-40.3%), from €168,974 to €100,893
mainly Contributions, distributions and other (-€84,725) and Receivables within one year (-€45,525)
- Receivables within one year +€45,525
up €45,525 (+878.4%), from €5,183 to €50,708
of which Trade receivables: +€45,337
- Other debts -€25,412
down €25,412 (-18.7%), from €135,555 to €110,143
- Gross operating margin -€45,754
down €45,754 (-28.0%), from €163,227 to €117,473
- Taxes -€5,537
down €5,537 (-15.2%), from €36,521 to €30,984
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 | €176,932 | €152,905 | -€24,027 | -13.6% |
| Fixed assets | 21/28 | €2,775 | €1,304 | -€1,471 | -53.0% |
| Tangible fixed assets | 22/27 | €2,775 | €1,304 | -€1,471 | -53.0% |
| Furniture and vehicles | 24 | €2,775 | €1,304 | -€1,471 | -53.0% |
| Current assets | 29/58 | €174,157 | €151,601 | -€22,556 | -13.0% |
| Amounts receivable within one year | 40/41 | €5,183 | €50,708 | +€45,525 | +878.4% |
| Trade receivables | 40 | €1,050 | €46,387 | +€45,337 | +4317.8% |
| Other amounts receivable | 41 | €4,133 | €4,321 | +€188 | +4.5% |
| Cash at bank and in hand | 54/58 | €168,974 | €100,893 | -€68,082 | -40.3% |
| Total equity and liabilities | 10/49 | €176,932 | €152,905 | -€24,027 | -13.6% |
| Equity | 10/15 | €5,000 | €5,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €171,932 | €147,905 | -€24,027 | -14.0% |
| Amounts payable within one year | 42/48 | €171,932 | €147,905 | -€24,027 | -14.0% |
| Trade debts | 44 | €1,118 | €1,794 | +€676 | +60.4% |
| Suppliers | 440/4 | €1,118 | €1,794 | +€676 | +60.4% |
| Taxes, remuneration and social security | 45 | €35,259 | €35,968 | +€709 | +2.0% |
| Taxes | 450/3 | €35,259 | €35,968 | +€709 | +2.0% |
| Other amounts payable | 47/48 | €135,555 | €110,143 | -€25,412 | -18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €897 | €1,471 | +€574 | +63.9% |
| Other operating charges | 640/8 | - | €791 | +€791 | |
| Gross operating margin | 9900 | €163,227 | €117,473 | -€45,754 | -28.0% |
| Operating profit (loss) | 9901 | €162,329 | €115,211 | -€47,119 | -29.0% |
| Financial income | 75/76B | - | €674 | +€674 | |
| Recurring financial income | 75 | - | €674 | +€674 | |
| Financial charges | 65/66B | €226 | €176 | -€50 | -22.1% |
| Recurring financial charges | 65 | €226 | €176 | -€50 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €162,103 | €115,709 | -€46,394 | -28.6% |
| Income taxes | 67/77 | €36,521 | €30,984 | -€5,537 | -15.2% |
| Profit (loss) for the period | 9904 | €125,583 | €84,725 | -€40,857 | -32.5% |
| Profit (loss) for the period to be appropriated | 9905 | €125,583 | €84,725 | -€40,857 | -32.5% |
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 6 October 2026 via checked.be.