Projects & Consulting HD: 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.
Projects & Consulting HD
Largest movements
- Current investments +€36,325
up €36,325 (+26.0%), from €139,544 to €175,869
- Receivables within one year -€26,426
down €26,426 (-58.4%), from €45,269 to €18,843
of which Trade receivables: -€20,201
- Tangible fixed assets +€8,275
up €8,275 (+179.0%), from €4,624 to €12,898
of which Furniture and vehicles: +€7,802
- Cash +€6,622
up €6,622 (+10.5%), from €63,361 to €69,982
mainly Net result for the year (+€60,530) and Receivables within one year (+€26,426)
- Reserves +€13,829
up €13,829 (+6.7%), from €207,716 to €221,545
- Other debts +€11,641
up €11,641 (+31.6%), from €36,865 to €48,506
- Gross operating margin +€19,528
up €19,528 (+33.2%), from €58,907 to €78,436
- Taxes +€5,784
up €5,784 (+31.5%), from €18,341 to €24,125
- Financial income +€1,578
up €1,578 (+17.3%), from €9,110 to €10,688
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 | €275,994 | €299,736 | +€23,742 | +8.6% |
| Fixed assets | 21/28 | €6,744 | €15,018 | +€8,275 | +122.7% |
| Tangible fixed assets | 22/27 | €4,624 | €12,898 | +€8,275 | +179.0% |
| Plant, machinery and equipment | 23 | €1,415 | €1,888 | +€473 | +33.4% |
| Furniture and vehicles | 24 | €3,209 | €11,010 | +€7,802 | +243.2% |
| Financial fixed assets | 28 | €2,120 | €2,120 | = | 0.0% |
| Current assets | 29/58 | €269,250 | €284,718 | +€15,467 | +5.7% |
| Amounts receivable within one year | 40/41 | €45,269 | €18,843 | -€26,426 | -58.4% |
| Trade receivables | 40 | €37,026 | €16,825 | -€20,201 | -54.6% |
| Other amounts receivable | 41 | €8,243 | €2,018 | -€6,225 | -75.5% |
| Current investments | 50/53 | €139,544 | €175,869 | +€36,325 | +26.0% |
| Cash at bank and in hand | 54/58 | €63,361 | €69,982 | +€6,622 | +10.5% |
| Deferred charges and accrued income | 490/1 | €21,077 | €20,024 | -€1,053 | -5.0% |
| Total equity and liabilities | 10/49 | €275,994 | €299,736 | +€23,742 | +8.6% |
| Equity | 10/15 | €213,916 | €227,745 | +€13,829 | +6.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €207,716 | €221,545 | +€13,829 | +6.7% |
| Distributable reserves | 133 | €207,716 | €221,545 | +€13,829 | +6.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €62,078 | €71,991 | +€9,913 | +16.0% |
| Amounts payable within one year | 42/48 | €62,078 | €71,991 | +€9,913 | +16.0% |
| Trade debts | 44 | €2,423 | €1,449 | -€975 | -40.2% |
| Suppliers | 440/4 | €2,423 | €1,449 | -€975 | -40.2% |
| Taxes, remuneration and social security | 45 | €22,790 | €22,035 | -€754 | -3.3% |
| Taxes | 450/3 | €22,790 | €22,035 | -€754 | -3.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €36,865 | €48,506 | +€11,641 | +31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,199 | €2,159 | -€40 | -1.8% |
| Other operating charges | 640/8 | €743 | €866 | +€123 | +16.6% |
| Gross operating margin | 9900 | €58,907 | €78,436 | +€19,528 | +33.2% |
| Operating profit (loss) | 9901 | €55,965 | €75,411 | +€19,445 | +34.7% |
| Financial income | 75/76B | €9,110 | €10,688 | +€1,578 | +17.3% |
| Recurring financial income | 75 | €9,110 | €10,688 | +€1,578 | +17.3% |
| Financial charges | 65/66B | €1,418 | €1,443 | +€25 | +1.8% |
| Recurring financial charges | 65 | €1,418 | €1,443 | +€25 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €63,658 | €84,655 | +€20,998 | +33.0% |
| Income taxes | 67/77 | €18,341 | €24,125 | +€5,784 | +31.5% |
| Profit (loss) for the period | 9904 | €45,316 | €60,530 | +€15,214 | +33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,316 | €60,530 | +€15,214 | +33.6% |
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 10 October 2026 via checked.be.