PROJECTTO: 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.
PROJECTTO
Largest movements
- Tangible fixed assets -€17,917
down €17,917 (-28.9%), from €61,977 to €44,061
of which Furniture and vehicles: -€17,545
- Deferred charges and accrued income -€7,610
no longer reported in 2025 (was €7,610)
- Receivables within one year +€2,948
up €2,948 (+75.7%), from €3,892 to €6,840
of which Trade receivables: +€4,500
- Trade debts -€14,703
down €14,703 (-96.1%), from €15,307 to €603
- Debts after one year -€14,693
down €14,693 (-77.2%), from €19,037 to €4,344
- Current portion of long-term debt +€10,596
up €10,596 (+69.9%), from €15,149 to €25,744
- Advances received -€7,256
no longer reported in 2025 (was €7,256)
- Tax, wage and social debts +€3,545
up €3,545 (+88.1%), from €4,024 to €7,569
- Gross operating margin -€4,032
down €4,032 (-13.8%), from €29,204 to €25,171
- Depreciation +€1,248
up €1,248 (+7.9%), from €15,865 to €17,113
- Taxes -€569
down €569 (-17.4%), from €3,274 to €2,704
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 | €79,917 | €57,390 | -€22,527 | -28.2% |
| Fixed assets | 21/28 | €61,977 | €44,061 | -€17,917 | -28.9% |
| Tangible fixed assets | 22/27 | €61,977 | €44,061 | -€17,917 | -28.9% |
| Plant, machinery and equipment | 23 | €1,455 | €1,084 | -€371 | -25.5% |
| Furniture and vehicles | 24 | €60,522 | €42,977 | -€17,545 | -29.0% |
| Current assets | 29/58 | €17,940 | €13,329 | -€4,611 | -25.7% |
| Amounts receivable within one year | 40/41 | €3,892 | €6,840 | +€2,948 | +75.7% |
| Trade receivables | 40 | - | €4,500 | +€4,500 | |
| Other amounts receivable | 41 | €3,892 | €2,340 | -€1,552 | -39.9% |
| Cash at bank and in hand | 54/58 | €6,438 | €6,489 | +€51 | +0.8% |
| Deferred charges and accrued income | 490/1 | €7,610 | - | -€7,610 | |
| Total equity and liabilities | 10/49 | €79,917 | €57,390 | -€22,527 | -28.2% |
| Equity | 10/15 | €17,593 | €19,130 | +€1,537 | +8.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €14,593 | €16,130 | +€1,537 | +10.5% |
| Distributable reserves | 133 | €14,593 | €16,130 | +€1,537 | +10.5% |
| Amounts payable | 17/49 | €62,324 | €38,260 | -€24,064 | -38.6% |
| Amounts payable after more than one year | 17 | €19,037 | €4,344 | -€14,693 | -77.2% |
| Financial debts | 170/4 | €19,037 | €4,344 | -€14,693 | -77.2% |
| Amounts payable within one year | 42/48 | €43,228 | €33,916 | -€9,312 | -21.5% |
| Current portion of amounts payable after more than one year | 42 | €15,149 | €25,744 | +€10,596 | +69.9% |
| Trade debts | 44 | €15,307 | €603 | -€14,703 | -96.1% |
| Suppliers | 440/4 | €15,307 | €603 | -€14,703 | -96.1% |
| Advances received on contracts in progress | 46 | €7,256 | - | -€7,256 | |
| Taxes, remuneration and social security | 45 | €4,024 | €7,569 | +€3,545 | +88.1% |
| Taxes | 450/3 | €4,024 | €7,569 | +€3,545 | +88.1% |
| Other amounts payable | 47/48 | €1,493 | - | -€1,493 | |
| Accrued charges and deferred income | 492/3 | €59 | - | -€59 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,865 | €17,113 | +€1,248 | +7.9% |
| Other operating charges | 640/8 | €1,716 | €1,553 | -€163 | -9.5% |
| Gross operating margin | 9900 | €29,204 | €25,171 | -€4,032 | -13.8% |
| Operating profit (loss) | 9901 | €11,622 | €6,505 | -€5,118 | -44.0% |
| Financial income | 75/76B | €0 | €55 | +€54 | +15522.9% |
| Recurring financial income | 75 | €0 | €55 | +€54 | +15522.9% |
| Financial charges | 65/66B | €2,189 | €2,318 | +€130 | +5.9% |
| Recurring financial charges | 65 | €2,189 | €2,318 | +€130 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €9,434 | €4,241 | -€5,193 | -55.0% |
| Income taxes | 67/77 | €3,274 | €2,704 | -€569 | -17.4% |
| Profit (loss) for the period | 9904 | €6,160 | €1,537 | -€4,623 | -75.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,160 | €1,537 | -€4,623 | -75.1% |
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 9 October 2026 via checked.be.