Projects-MV: 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-MV
Largest movements
- Cash +€57,671
up €57,671 (+116.1%), from €49,659 to €107,330
mainly Net result for the year (+€57,196) and Tax, wage and social debts (+€20,396)
- Receivables within one year +€18,394
up €18,394 (+62.5%), from €29,450 to €47,843
of which Other amounts receivable: +€17,796
- Tangible fixed assets +€1,868
up €1,868 (+54.2%), from €3,444 to €5,312
of which Furniture and vehicles: +€2,756
- Reserves +€57,196
up €57,196 (+113.9%), from €50,217 to €107,413
- Tax, wage and social debts +€20,396
up €20,396 (+79.2%), from €25,742 to €46,138
- Gross operating margin +€11,456
up €11,456 (+16.2%), from €70,519 to €81,975
- Taxes +€2,171
up €2,171 (+10.8%), from €20,098 to €22,269
- Financial charges +€1,441
up €1,441 (+351.4%), from €410 to €1,851
- Depreciation +€1,171
up €1,171 (+1021.3%), from €115 to €1,285
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 | €82,752 | €160,684 | +€77,932 | +94.2% |
| Fixed assets | 21/28 | €3,444 | €5,312 | +€1,868 | +54.2% |
| Tangible fixed assets | 22/27 | €3,444 | €5,312 | +€1,868 | +54.2% |
| Plant, machinery and equipment | 23 | €3,444 | €2,556 | -€888 | -25.8% |
| Furniture and vehicles | 24 | - | €2,756 | +€2,756 | |
| Current assets | 29/58 | €79,308 | €155,372 | +€76,065 | +95.9% |
| Amounts receivable within one year | 40/41 | €29,450 | €47,843 | +€18,394 | +62.5% |
| Trade receivables | 40 | €16,752 | €17,349 | +€598 | +3.6% |
| Other amounts receivable | 41 | €12,698 | €30,494 | +€17,796 | +140.1% |
| Cash at bank and in hand | 54/58 | €49,659 | €107,330 | +€57,671 | +116.1% |
| Deferred charges and accrued income | 490/1 | €199 | €199 | = | 0.0% |
| Total equity and liabilities | 10/49 | €82,752 | €160,684 | +€77,932 | +94.2% |
| Equity | 10/15 | €52,717 | €109,913 | +€57,196 | +108.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €50,217 | €107,413 | +€57,196 | +113.9% |
| Distributable reserves | 133 | €50,217 | €107,413 | +€57,196 | +113.9% |
| Amounts payable | 17/49 | €30,035 | €50,771 | +€20,736 | +69.0% |
| Amounts payable within one year | 42/48 | €30,035 | €50,771 | +€20,736 | +69.0% |
| Financial debts | 43 | - | €431 | +€431 | |
| Other loans | 439 | - | €431 | +€431 | |
| Trade debts | 44 | €4,293 | €4,202 | -€91 | -2.1% |
| Suppliers | 440/4 | €4,293 | €4,202 | -€91 | -2.1% |
| Taxes, remuneration and social security | 45 | €25,742 | €46,138 | +€20,396 | +79.2% |
| Taxes | 450/3 | €25,742 | €46,138 | +€20,396 | +79.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115 | €1,285 | +€1,171 | +1021.3% |
| Other operating charges | 640/8 | €64 | €540 | +€476 | +743.8% |
| Gross operating margin | 9900 | €70,519 | €81,975 | +€11,456 | +16.2% |
| Operating profit (loss) | 9901 | €70,340 | €80,150 | +€9,809 | +13.9% |
| Financial income | 75/76B | €385 | €1,167 | +€781 | +202.7% |
| Recurring financial income | 75 | €385 | €1,167 | +€781 | +202.7% |
| Financial charges | 65/66B | €410 | €1,851 | +€1,441 | +351.4% |
| Recurring financial charges | 65 | €410 | €1,851 | +€1,441 | +351.4% |
| Profit (loss) for the period before taxes | 9903 | €70,315 | €79,465 | +€9,150 | +13.0% |
| Income taxes | 67/77 | €20,098 | €22,269 | +€2,171 | +10.8% |
| Profit (loss) for the period | 9904 | €50,217 | €57,196 | +€6,979 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €50,217 | €57,196 | +€6,979 | +13.9% |
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 11 October 2026 via checked.be.