PROJET.A: 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.
PROJET.A
Largest movements
- Receivables after one year -€94,000
no longer reported in 2025 (was €94,000)
- Receivables within one year +€64,102
up €64,102 (+387.8%), from €16,529 to €80,630
of which Other amounts receivable: +€59,770
- Other debts -€39,412
down €39,412 (-80.1%), from €49,229 to €9,817
- Profit (loss) carried forward +€15,000
new in 2025: €15,000
- Reserves +€7,504
up €7,504 (+13.0%), from €57,882 to €65,386
of which Distributable reserves: +€14,944
- Current portion of long-term debt -€6,880
down €6,880 (-91.5%), from €7,515 to €635
- Tax, wage and social debts -€5,099
down €5,099 (-33.6%), from €15,171 to €10,073
- Gross operating margin +€1,804
up €1,804 (+4.6%), from €38,999 to €40,803
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 | €205,275 | €176,634 | -€28,640 | -14.0% |
| Fixed assets | 21/28 | €66,500 | €66,500 | = | 0.0% |
| Financial fixed assets | 28 | €66,500 | €66,500 | = | 0.0% |
| Current assets | 29/58 | €138,775 | €110,134 | -€28,640 | -20.6% |
| Amounts receivable after more than one year | 29 | €94,000 | - | -€94,000 | |
| Other amounts receivable | 291 | €94,000 | - | -€94,000 | |
| Amounts receivable within one year | 40/41 | €16,529 | €80,630 | +€64,102 | +387.8% |
| Trade receivables | 40 | €16,529 | €20,860 | +€4,332 | +26.2% |
| Other amounts receivable | 41 | - | €59,770 | +€59,770 | |
| Cash at bank and in hand | 54/58 | €28,038 | €29,286 | +€1,249 | +4.5% |
| Deferred charges and accrued income | 490/1 | €208 | €218 | +€9 | +4.5% |
| Total equity and liabilities | 10/49 | €205,275 | €176,634 | -€28,640 | -14.0% |
| Equity | 10/15 | €132,282 | €154,786 | +€22,504 | +17.0% |
| Contributions | 10/11 | €74,400 | €74,400 | = | 0.0% |
| Reserves | 13 | €57,882 | €65,386 | +€7,504 | +13.0% |
| Non-distributable reserves | 130/1 | €7,440 | - | -€7,440 | |
| Reserves not available under the articles | 1311 | €7,440 | - | -€7,440 | |
| Distributable reserves | 133 | €50,442 | €65,386 | +€14,944 | +29.6% |
| Profit (loss) carried forward | 14 | - | €15,000 | +€15,000 | |
| Amounts payable | 17/49 | €72,993 | €21,848 | -€51,144 | -70.1% |
| Amounts payable after more than one year | 17 | €635 | - | -€635 | |
| Financial debts | 170/4 | €635 | - | -€635 | |
| Amounts payable within one year | 42/48 | €72,357 | €21,848 | -€50,509 | -69.8% |
| Current portion of amounts payable after more than one year | 42 | €7,515 | €635 | -€6,880 | -91.5% |
| Trade debts | 44 | €442 | €1,323 | +€881 | +199.5% |
| Suppliers | 440/4 | €442 | €1,323 | +€881 | +199.5% |
| Taxes, remuneration and social security | 45 | €15,171 | €10,073 | -€5,099 | -33.6% |
| Taxes | 450/3 | €15,171 | €10,073 | -€5,099 | -33.6% |
| Other amounts payable | 47/48 | €49,229 | €9,817 | -€39,412 | -80.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47 | - | -€47 | |
| Other operating charges | 640/8 | - | €20 | +€20 | |
| Gross operating margin | 9900 | €38,999 | €40,803 | +€1,804 | +4.6% |
| Operating profit (loss) | 9901 | €38,952 | €40,783 | +€1,831 | +4.7% |
| Financial income | 75/76B | €2,446 | €2,390 | -€55 | -2.3% |
| Recurring financial income | 75 | €2,446 | €2,390 | -€55 | -2.3% |
| Financial charges | 65/66B | €615 | €492 | -€122 | -19.9% |
| Recurring financial charges | 65 | €615 | €492 | -€122 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €40,783 | €42,681 | +€1,898 | +4.7% |
| Income taxes | 67/77 | €11,333 | €11,443 | +€110 | +1.0% |
| Profit (loss) for the period | 9904 | €29,449 | €31,238 | +€1,788 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,449 | €31,238 | +€1,788 | +6.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.