PROJET LAB: 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.
PROJET LAB
Largest movements
- Stocks and contracts +€222,046
up €222,046 (+40.4%), from €549,432 to €771,478
- Cash +€18,529
up €18,529, from €0 to €18,529
mainly Short-term financial debts (+€154,082) and Other debts (+€90,602)
- Short-term financial debts +€154,082
up €154,082 (+39.0%), from €394,603 to €548,685
- Other debts +€90,602
up €90,602 (+81.1%), from €111,750 to €202,352
- Gross operating margin -€23,220
down €23,220 (-49.1%), from €47,324 to €24,104
- Financial charges -€5,293
down €5,293 (-21.4%), from €24,711 to €19,419
of which Non-recurring financial charges: -€4,500
- Other operating charges +€509
up €509 (+131.5%), from €387 to €897
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 | €549,635 | €792,397 | +€242,762 | +44.2% |
| Current assets | 29/58 | €549,635 | €792,397 | +€242,762 | +44.2% |
| Stocks and contracts in progress | 3 | €549,432 | €771,478 | +€222,046 | +40.4% |
| Stocks | 30/36 | €549,432 | €771,478 | +€222,046 | +40.4% |
| Amounts receivable within one year | 40/41 | €203 | €2,390 | +€2,187 | +1075.0% |
| Trade receivables | 40 | €0 | €1,256 | +€1,256 | |
| Other amounts receivable | 41 | €203 | €1,134 | +€930 | +457.4% |
| Cash at bank and in hand | 54/58 | €0 | €18,529 | +€18,529 | |
| Total equity and liabilities | 10/49 | €549,635 | €792,397 | +€242,762 | +44.2% |
| Equity | 10/15 | €26,500 | €30,289 | +€3,789 | +14.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,500 | €8,289 | +€3,789 | +84.2% |
| Amounts payable | 17/49 | €523,135 | €762,108 | +€238,973 | +45.7% |
| Amounts payable within one year | 42/48 | €523,135 | €762,108 | +€238,973 | +45.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €394,603 | €548,685 | +€154,082 | +39.0% |
| Credit institutions | 430/8 | €394,603 | €548,685 | +€154,082 | +39.0% |
| Trade debts | 44 | €16,782 | €11,071 | -€5,711 | -34.0% |
| Suppliers | 440/4 | €16,782 | €11,071 | -€5,711 | -34.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €111,750 | €202,352 | +€90,602 | +81.1% |
| Other operating charges | 640/8 | €387 | €897 | +€509 | +131.5% |
| Gross operating margin | 9900 | €47,324 | €24,104 | -€23,220 | -49.1% |
| Operating profit (loss) | 9901 | €46,937 | €23,208 | -€23,729 | -50.6% |
| Financial charges | 65/66B | €24,711 | €19,419 | -€5,293 | -21.4% |
| Recurring financial charges | 65 | €20,211 | €19,419 | -€793 | -3.9% |
| Non-recurring financial charges | 66B | €4,500 | €0 | -€4,500 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €22,225 | €3,789 | -€18,436 | -83.0% |
| Profit (loss) for the period | 9904 | €22,225 | €3,789 | -€18,436 | -83.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,225 | €3,789 | -€18,436 | -83.0% |
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 11 October 2026 via checked.be.