PROJET MG: 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 MG
Largest movements
- Cash -€20,284
down €20,284 (-95.6%), from €21,225 to €941
mainly Trade debts (-€19,287) and Other debts (-€3,174)
- Tangible fixed assets +€1,735
up €1,735 (+72.0%), from €2,409 to €4,144
of which Plant, machinery and equipment: +€1,269
- Receivables within one year -€1,172
down €1,172 (-4.3%), from €27,149 to €25,977
of which Trade receivables: -€7,462
- Deferred charges and accrued income -€800
no longer reported in 2025 (was €800)
- Trade debts -€19,287
down €19,287 (-68.3%), from €28,245 to €8,958
- Other debts -€3,174
no longer reported in 2025 (was €3,174)
- Reserves +€1,940
up €1,940 (+18.0%), from €10,748 to €12,687
- Staff costs +€40,359
up €40,359 (+2423.0%), from €1,666 to €42,024
- Gross operating margin +€24,710
up €24,710 (+108.9%), from €22,690 to €47,400
- Taxes -€4,417
no longer reported in 2025 (was €4,417)
- Other operating charges -€1,370
down €1,370 (-70.4%), from €1,946 to €576
- Depreciation +€1,114
up €1,114 (+2157.6%), from €52 to €1,166
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 | €51,583 | €31,062 | -€20,521 | -39.8% |
| Fixed assets | 21/28 | €2,409 | €4,144 | +€1,735 | +72.0% |
| Tangible fixed assets | 22/27 | €2,409 | €4,144 | +€1,735 | +72.0% |
| Plant, machinery and equipment | 23 | €2,409 | €3,678 | +€1,269 | +52.7% |
| Furniture and vehicles | 24 | - | €467 | +€467 | |
| Current assets | 29/58 | €49,174 | €26,918 | -€22,256 | -45.3% |
| Amounts receivable within one year | 40/41 | €27,149 | €25,977 | -€1,172 | -4.3% |
| Trade receivables | 40 | €13,279 | €5,817 | -€7,462 | -56.2% |
| Other amounts receivable | 41 | €13,870 | €20,160 | +€6,290 | +45.3% |
| Cash at bank and in hand | 54/58 | €21,225 | €941 | -€20,284 | -95.6% |
| Deferred charges and accrued income | 490/1 | €800 | - | -€800 | |
| Total equity and liabilities | 10/49 | €51,583 | €31,062 | -€20,521 | -39.8% |
| Equity | 10/15 | €15,748 | €17,687 | +€1,940 | +12.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €10,748 | €12,687 | +€1,940 | +18.0% |
| Distributable reserves | 133 | €10,748 | €12,687 | +€1,940 | +18.0% |
| Amounts payable | 17/49 | €35,835 | €13,375 | -€22,460 | -62.7% |
| Amounts payable within one year | 42/48 | €35,835 | €13,375 | -€22,460 | -62.7% |
| Trade debts | 44 | €28,245 | €8,958 | -€19,287 | -68.3% |
| Suppliers | 440/4 | €28,245 | €8,958 | -€19,287 | -68.3% |
| Taxes, remuneration and social security | 45 | €4,417 | €4,417 | = | 0.0% |
| Taxes | 450/3 | €4,417 | €4,417 | = | 0.0% |
| Other amounts payable | 47/48 | €3,174 | - | -€3,174 | |
| Remuneration, social security and pensions | 62 | €1,666 | €42,024 | +€40,359 | +2423.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52 | €1,166 | +€1,114 | +2157.6% |
| Other operating charges | 640/8 | €1,946 | €576 | -€1,370 | -70.4% |
| Non-recurring operating charges | 66A | €3,478 | €653 | -€2,825 | -81.2% |
| Gross operating margin | 9900 | €22,690 | €47,400 | +€24,710 | +108.9% |
| Operating profit (loss) | 9901 | €15,548 | €2,981 | -€12,567 | -80.8% |
| Financial charges | 65/66B | €384 | €1,042 | +€658 | +171.6% |
| Recurring financial charges | 65 | €309 | €788 | +€479 | +155.4% |
| Non-recurring financial charges | 66B | €75 | €254 | +€179 | +238.2% |
| Profit (loss) for the period before taxes | 9903 | €15,165 | €1,940 | -€13,225 | -87.2% |
| Income taxes | 67/77 | €4,417 | - | -€4,417 | |
| Profit (loss) for the period | 9904 | €10,748 | €1,940 | -€8,808 | -82.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,748 | €1,940 | -€8,808 | -82.0% |
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 30 September 2026 via checked.be.