PROJEM: what changed
PROJEM
Largest movements
- Cash -€21,981
down €21,981 (-91.5%), from €24,024 to €2,043
mainly Accrued charges and deferred income (-€58,271)
- Accrued charges and deferred income -€58,271
down €58,271 (-100%), from €58,271 to €0
- Profit (loss) carried forward +€28,916
up €28,916 (+30.4%), from -€95,248 to -€66,332
- Gross operating margin +€66,917
up €66,917, from -€10,309 to €56,609
- Financial charges +€18,478
up €18,478 (+240%), from €7,695 to €26,173
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,136,866 | €1,113,807 | -€23,058 | -2.0% |
| Current assets | 29/58 | €1,136,866 | €1,113,807 | -€23,058 | -2.0% |
| Stocks and contracts in progress | 3 | €1,106,349 | €1,106,349 | = | 0.0% |
| Stocks | 30/36 | €1,106,349 | €1,106,349 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €343 | €343 | = | 0.0% |
| Trade receivables | 40 | €343 | €343 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €24,024 | €2,043 | -€21,981 | -91.5% |
| Deferred charges and accrued income | 490/1 | €6,150 | €5,073 | -€1,077 | -17.5% |
| Total equity and liabilities | 10/49 | €1,136,866 | €1,113,807 | -€23,058 | -2.0% |
| Equity | 10/15 | €229,752 | €258,668 | +€28,916 | +12.6% |
| Contributions | 10/11 | €325,000 | €325,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€95,248 | -€66,332 | +€28,916 | +30.4% |
| Amounts payable | 17/49 | €907,114 | €855,139 | -€51,975 | -5.7% |
| Amounts payable after more than one year | 17 | €140,000 | €140,000 | = | 0.0% |
| Financial debts | 170/4 | €140,000 | €140,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €708,843 | €715,139 | +€6,296 | +0.9% |
| Trade debts | 44 | €343 | €639 | +€296 | +86.5% |
| Suppliers | 440/4 | €343 | €639 | +€296 | +86.5% |
| Other amounts payable | 47/48 | €708,500 | €714,500 | +€6,000 | +0.8% |
| Accrued charges and deferred income | 492/3 | €58,271 | €0 | -€58,271 | -100% |
| Other operating charges | 640/8 | €1,798 | €1,519 | -€279 | -15.5% |
| Gross operating margin | 9900 | -€10,309 | €56,609 | +€66,917 | |
| Operating profit (loss) | 9901 | -€12,107 | €55,090 | +€67,196 | |
| Financial charges | 65/66B | €7,695 | €26,173 | +€18,478 | +240% |
| Recurring financial charges | 65 | €7,695 | €26,173 | +€18,478 | +240% |
| Profit (loss) for the period before taxes | 9903 | -€19,802 | €28,916 | +€48,718 | |
| Profit (loss) for the period | 9904 | -€19,802 | €28,916 | +€48,718 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,802 | €28,916 | +€48,718 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.