PROJECTS MANAGEMENT & CONSULTING: 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 MANAGEMENT & CONSULTING
Largest movements
- Receivables within one year -€525,323
down €525,323 (-57.0%), from €922,427 to €397,104
of which Trade receivables: -€521,933
- Stocks and contracts +€211,408
up €211,408 (+142%), from €149,056 to €360,464
of which Contracts in progress: +€219,937
- Cash -€28,319
down €28,319 (-67.4%), from €42,040 to €13,721
mainly Advances received (-€317,505) and Stocks and contracts (-€211,408)
- Advances received -€317,505
down €317,505 (-100%), from €317,505 to €0
- Profit (loss) carried forward +€151,843
up €151,843, from -€151,843 to €0
- Current portion of long-term debt -€134,298
down €134,298 (-69.6%), from €192,857 to €58,559
- Trade debts -€71,444
down €71,444 (-13.1%), from €545,855 to €474,411
- Tax, wage and social debts +€27,957
up €27,957 (+238%), from €11,737 to €39,694
of which Taxes: +€29,718
- Gross operating margin +€27,858
up €27,858 (+13.6%), from €204,921 to €232,778
- Write-downs -€27,314
down €27,314 (-100%), from €27,314 to €0
- Taxes +€14,739
up €14,739 (+93.6%), from €15,748 to €30,486
- Other operating charges +€10,980
up €10,980 (+59.6%), from €18,435 to €29,415
- Financial charges +€8,152
up €8,152 (+172%), from €4,735 to €12,887
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 | €1,216,427 | €881,922 | -€334,506 | -27.5% |
| Fixed assets | 21/28 | €101,355 | €105,940 | +€4,584 | +4.5% |
| Tangible fixed assets | 22/27 | €1,306 | €975 | -€331 | -25.3% |
| Furniture and vehicles | 24 | €1,306 | €975 | -€331 | -25.3% |
| Financial fixed assets | 28 | €100,050 | €104,965 | +€4,915 | +4.9% |
| Current assets | 29/58 | €1,115,072 | €775,982 | -€339,090 | -30.4% |
| Stocks and contracts in progress | 3 | €149,056 | €360,464 | +€211,408 | +142% |
| Stocks | 30/36 | €71,422 | €62,893 | -€8,529 | -11.9% |
| Contracts in progress | 37 | €77,634 | €297,571 | +€219,937 | +283% |
| Amounts receivable within one year | 40/41 | €922,427 | €397,104 | -€525,323 | -57.0% |
| Trade receivables | 40 | €875,859 | €353,925 | -€521,933 | -59.6% |
| Other amounts receivable | 41 | €46,569 | €43,179 | -€3,390 | -7.3% |
| Cash at bank and in hand | 54/58 | €42,040 | €13,721 | -€28,319 | -67.4% |
| Deferred charges and accrued income | 490/1 | €1,549 | €4,693 | +€3,144 | +203% |
| Total equity and liabilities | 10/49 | €1,216,427 | €881,922 | -€334,506 | -27.5% |
| Equity | 10/15 | €148,183 | €308,958 | +€160,775 | +108% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €281,426 | €290,358 | +€8,932 | +3.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €279,566 | €279,566 | = | 0.0% |
| Distributable reserves | 133 | - | €8,932 | +€8,932 | |
| Profit (loss) carried forward | 14 | -€151,843 | €0 | +€151,843 | |
| Amounts payable | 17/49 | €1,068,244 | €572,963 | -€495,281 | -46.4% |
| Amounts payable within one year | 42/48 | €1,067,954 | €572,664 | -€495,290 | -46.4% |
| Current portion of amounts payable after more than one year | 42 | €192,857 | €58,559 | -€134,298 | -69.6% |
| Trade debts | 44 | €545,855 | €474,411 | -€71,444 | -13.1% |
| Suppliers | 440/4 | €545,855 | €474,411 | -€71,444 | -13.1% |
| Advances received on contracts in progress | 46 | €317,505 | €0 | -€317,505 | -100% |
| Taxes, remuneration and social security | 45 | €11,737 | €39,694 | +€27,957 | +238% |
| Taxes | 450/3 | €9,976 | €39,694 | +€29,718 | +298% |
| Remuneration and social security | 454/9 | €1,761 | €0 | -€1,761 | -100% |
| Accrued charges and deferred income | 492/3 | €290 | €299 | +€9 | +3.1% |
| Non-recurring operating income | 76A | €2,376 | €0 | -€2,376 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €654 | €331 | -€324 | -49.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €27,314 | €0 | -€27,314 | -100% |
| Other operating charges | 640/8 | €18,435 | €29,415 | +€10,980 | +59.6% |
| Non-recurring operating charges | 66A | €26,935 | €0 | -€26,935 | -100% |
| Gross operating margin | 9900 | €204,921 | €232,778 | +€27,858 | +13.6% |
| Operating profit (loss) | 9901 | €131,582 | €203,033 | +€71,451 | +54.3% |
| Financial income | 75/76B | €351 | €1,116 | +€765 | +218% |
| Recurring financial income | 75 | €351 | €1,116 | +€765 | +218% |
| Financial charges | 65/66B | €4,735 | €12,887 | +€8,152 | +172% |
| Recurring financial charges | 65 | €4,735 | €12,887 | +€8,152 | +172% |
| Profit (loss) for the period before taxes | 9903 | €127,198 | €191,261 | +€64,063 | +50.4% |
| Income taxes | 67/77 | €15,748 | €30,486 | +€14,739 | +93.6% |
| Profit (loss) for the period | 9904 | €111,450 | €160,775 | +€49,325 | +44.3% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €111,450 | €160,775 | +€49,325 | +44.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.