PROJECTS SANCV: 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 SANCV
Largest movements
- Cash -€253,291
down €253,291 (-56.8%), from €446,044 to €192,753
mainly Contributions, distributions and other (-€350,228) and Other debts (-€59,465)
- Receivables within one year +€47,945
up €47,945 (+74.9%), from €64,001 to €111,946
of which Trade receivables: +€57,367
- Stocks and contracts +€47,884
up €47,884 (+36.1%), from €132,751 to €180,635
of which Contracts in progress: +€48,846
- Tangible fixed assets -€21,529
down €21,529 (-11.2%), from €192,438 to €170,909
- Reserves -€167,582
down €167,582 (-28.0%), from €599,576 to €431,994
- Advances received +€71,000
up €71,000 (+338%), from €21,000 to €92,000
- Other debts -€59,465
down €59,465 (-98.9%), from €60,111 to €646
- Trade debts -€12,749
down €12,749 (-52.1%), from €24,454 to €11,705
- Debts after one year -€9,733
down €9,733 (-8.9%), from €108,945 to €99,212
- Gross operating margin +€19,783
up €19,783 (+8.2%), from €242,137 to €261,920
- Taxes +€5,518
up €5,518 (+11.0%), from €50,089 to €55,607
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 | €842,324 | €663,891 | -€178,433 | -21.2% |
| Fixed assets | 21/28 | €192,719 | €174,140 | -€18,579 | -9.6% |
| Intangible fixed assets | 21 | - | €2,950 | +€2,950 | |
| Tangible fixed assets | 22/27 | €192,438 | €170,909 | -€21,529 | -11.2% |
| Land and buildings | 22 | €149,648 | €141,992 | -€7,656 | -5.1% |
| Plant, machinery and equipment | 23 | €3,139 | €1,832 | -€1,307 | -41.6% |
| Furniture and vehicles | 24 | €30,104 | €21,887 | -€8,217 | -27.3% |
| Other tangible fixed assets | 26 | €9,547 | €5,199 | -€4,349 | -45.5% |
| Financial fixed assets | 28 | €281 | €281 | = | 0.0% |
| Current assets | 29/58 | €649,605 | €489,751 | -€159,854 | -24.6% |
| Stocks and contracts in progress | 3 | €132,751 | €180,635 | +€47,884 | +36.1% |
| Stocks | 30/36 | €124,751 | €123,790 | -€962 | -0.8% |
| Contracts in progress | 37 | €8,000 | €56,846 | +€48,846 | +611% |
| Amounts receivable within one year | 40/41 | €64,001 | €111,946 | +€47,945 | +74.9% |
| Trade receivables | 40 | €40,980 | €98,347 | +€57,367 | +140% |
| Other amounts receivable | 41 | €23,021 | €13,599 | -€9,422 | -40.9% |
| Cash at bank and in hand | 54/58 | €446,044 | €192,753 | -€253,291 | -56.8% |
| Deferred charges and accrued income | 490/1 | €6,809 | €4,416 | -€2,392 | -35.1% |
| Total equity and liabilities | 10/49 | €842,324 | €663,891 | -€178,433 | -21.2% |
| Equity | 10/15 | €618,176 | €450,594 | -€167,582 | -27.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €599,576 | €431,994 | -€167,582 | -28.0% |
| Distributable reserves | 133 | €599,576 | €431,994 | -€167,582 | -28.0% |
| Amounts payable | 17/49 | €224,148 | €213,296 | -€10,852 | -4.8% |
| Amounts payable after more than one year | 17 | €108,945 | €99,212 | -€9,733 | -8.9% |
| Financial debts | 170/4 | €108,945 | €99,212 | -€9,733 | -8.9% |
| Amounts payable within one year | 42/48 | €115,203 | €114,084 | -€1,118 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €9,638 | €9,733 | +€96 | +1.0% |
| Trade debts | 44 | €24,454 | €11,705 | -€12,749 | -52.1% |
| Suppliers | 440/4 | €24,454 | €11,705 | -€12,749 | -52.1% |
| Advances received on contracts in progress | 46 | €21,000 | €92,000 | +€71,000 | +338% |
| Other amounts payable | 47/48 | €60,111 | €646 | -€59,465 | -98.9% |
| Non-recurring operating income | 76A | €10,657 | - | -€10,657 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,581 | €22,391 | -€2,190 | -8.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,964 | €2,863 | +€899 | +45.8% |
| Other operating charges | 640/8 | €1,605 | €1,909 | +€304 | +18.9% |
| Gross operating margin | 9900 | €242,137 | €261,920 | +€19,783 | +8.2% |
| Operating profit (loss) | 9901 | €213,987 | €234,757 | +€20,770 | +9.7% |
| Financial income | 75/76B | €5,114 | €4,815 | -€298 | -5.8% |
| Recurring financial income | 75 | €5,114 | €4,815 | -€298 | -5.8% |
| Financial charges | 65/66B | €1,430 | €1,319 | -€111 | -7.8% |
| Recurring financial charges | 65 | €1,430 | €1,319 | -€111 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €217,671 | €238,254 | +€20,583 | +9.5% |
| Income taxes | 67/77 | €50,089 | €55,607 | +€5,518 | +11.0% |
| Profit (loss) for the period | 9904 | €167,582 | €182,646 | +€15,065 | +9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €167,582 | €182,646 | +€15,065 | +9.0% |
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 14 October 2026 via checked.be.