PROJESTEC: what changed
Two fiscal 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.
PROJESTEC
Largest movements
- Tangible fixed assets +€3.0m
up €3.0m (+65.1%), from €4.6m to €7.6m
of which Plant, machinery and equipment: +€3.0m
- Current investments +€500,000
new in 2024: €500,000
- Formation expenses +€471,536
up €471,536 (+39.8%), from €1.2m to €1.7m
- Cash -€111,746
down €111,746 (-27.0%), from €413,743 to €301,998
mainly Investment in fixed assets (net) (-€5.1m) and Net result for the year (-€2.6m)
- Debts after one year +€5.3m
up €5.3m (+65.0%), from €8.2m to €13.5m
of which Financial debts: +€5.4m
- Profit (loss) carried forward -€2.6m
down €2.6m (-47.4%), from -€5.5m to -€8.1m
- Trade debts +€575,075
up €575,075 (+44.8%), from €1.3m to €1.9m
- Current portion of long-term debt +€394,763
up €394,763 (+87.6%), from €450,894 to €845,657
- Accrued charges and deferred income +€310,337
up €310,337, from €0 to €310,337
- Depreciation +€574,275
up €574,275 (+55.7%), from €1.0m to €1.6m
- Gross operating margin +€480,282
up €480,282 (+45.6%), from €1.1m to €1.5m
- Staff costs +€438,157
up €438,157 (+26.6%), from €1.6m to €2.1m
- Financial charges +€227,360
up €227,360 (+127.2%), from €178,681 to €406,041
- Other operating charges +€22,157
up €22,157 (+268.7%), from €8,245 to €30,402
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,898,689 | €10,884,335 | +€4.0m | +57.8% |
| Formation expenses | 20 | €1,186,109 | €1,657,645 | +€471,536 | +39.8% |
| Fixed assets | 21/28 | €5,097,457 | €8,084,993 | +€3.0m | +58.6% |
| Intangible fixed assets | 21 | €478,273 | €452,742 | -€25,530 | -5.3% |
| Tangible fixed assets | 22/27 | €4,581,684 | €7,565,301 | +€3.0m | +65.1% |
| Plant, machinery and equipment | 23 | €4,579,305 | €7,554,463 | +€3.0m | +65.0% |
| Furniture and vehicles | 24 | €2,380 | €10,837 | +€8,457 | +355.4% |
| Financial fixed assets | 28 | €37,500 | €66,950 | +€29,450 | +78.5% |
| Current assets | 29/58 | €615,123 | €1,141,697 | +€526,574 | +85.6% |
| Stocks and contracts in progress | 3 | €115,578 | €201,818 | +€86,240 | +74.6% |
| Stocks | 30/36 | €115,578 | €201,818 | +€86,240 | +74.6% |
| Amounts receivable within one year | 40/41 | €22,492 | €59,960 | +€37,468 | +166.6% |
| Trade receivables | 40 | €20,205 | €18,482 | -€1,724 | -8.5% |
| Other amounts receivable | 41 | €2,287 | €41,478 | +€39,191 | +1713.6% |
| Current investments | 50/53 | - | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €413,743 | €301,998 | -€111,746 | -27.0% |
| Deferred charges and accrued income | 490/1 | €63,309 | €77,921 | +€14,612 | +23.1% |
| Total equity and liabilities | 10/49 | €6,898,689 | €10,884,335 | +€4.0m | +57.8% |
| Equity | 10/15 | -€3,447,089 | -€6,038,643 | -€2.6m | -75.2% |
| Contributions | 10/11 | €2,023,346 | €2,023,346 | = | 0.0% |
| Capital | 10 | €2,023,346 | €2,023,346 | = | 0.0% |
| Issued capital | 100 | €2,023,346 | €2,023,346 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,470,435 | -€8,061,989 | -€2.6m | -47.4% |
| Amounts payable | 17/49 | €10,345,778 | €16,922,978 | +€6.6m | +63.6% |
| Amounts payable after more than one year | 17 | €8,200,532 | €13,527,667 | +€5.3m | +65.0% |
| Financial debts | 170/4 | €7,048,009 | €12,495,302 | +€5.4m | +77.3% |
| Other amounts payable | 178/9 | €1,152,523 | €1,032,365 | -€120,158 | -10.4% |
| Amounts payable within one year | 42/48 | €2,145,246 | €3,084,974 | +€939,728 | +43.8% |
| Current portion of amounts payable after more than one year | 42 | €450,894 | €845,657 | +€394,763 | +87.6% |
| Financial debts | 43 | €574 | €1,885 | +€1,311 | +228.4% |
| Credit institutions | 430/8 | €574 | €1,885 | +€1,311 | +228.4% |
| Trade debts | 44 | €1,282,353 | €1,857,428 | +€575,075 | +44.8% |
| Suppliers | 440/4 | €1,282,353 | €1,857,428 | +€575,075 | +44.8% |
| Taxes, remuneration and social security | 45 | €408,879 | €380,003 | -€28,876 | -7.1% |
| Taxes | 450/3 | €34,299 | €14,360 | -€19,939 | -58.1% |
| Remuneration and social security | 454/9 | €374,580 | €365,643 | -€8,937 | -2.4% |
| Other amounts payable | 47/48 | €2,545 | €0 | -€2,545 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | €310,337 | +€310,337 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,646,145 | €2,084,301 | +€438,157 | +26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,031,601 | €1,605,876 | +€574,275 | +55.7% |
| Other operating charges | 640/8 | €8,245 | €30,402 | +€22,157 | +268.7% |
| Gross operating margin | 9900 | €1,052,381 | €1,532,663 | +€480,282 | +45.6% |
| Operating profit (loss) | 9901 | -€1,633,610 | -€2,187,917 | -€554,306 | -33.9% |
| Financial income | 75/76B | €4,643 | €3,588 | -€1,055 | -22.7% |
| Recurring financial income | 75 | €4,643 | €3,588 | -€1,055 | -22.7% |
| Financial charges | 65/66B | €178,681 | €406,041 | +€227,360 | +127.2% |
| Recurring financial charges | 65 | €178,681 | €406,041 | +€227,360 | +127.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,807,648 | -€2,590,369 | -€782,722 | -43.3% |
| Income taxes | 67/77 | €4,535 | €1,185 | -€3,350 | -73.9% |
| Profit (loss) for the period | 9904 | -€1,812,183 | -€2,591,554 | -€779,371 | -43.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,812,183 | -€2,591,554 | -€779,371 | -43.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.