PROJETC.: 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.
PROJETC.
Largest movements
- Cash +€26,611
up €26,611 (+12.6%), from €210,638 to €237,250
mainly Other debts (+€99,872) and Net result for the year (+€98,760)
- Current investments +€16,254
up €16,254 (+2.9%), from €566,799 to €583,053
- Receivables within one year -€12,930
down €12,930 (-47.6%), from €27,187 to €14,256
of which Trade receivables: -€19,256
- Tangible fixed assets -€11,836
down €11,836 (-4.6%), from €257,995 to €246,159
- Other debts +€99,872
up €99,872 (+705.6%), from €14,155 to €114,026
- Reserves -€65,018
down €65,018 (-8.4%), from €771,814 to €706,796
- Debts after one year -€19,277
down €19,277 (-9.6%), from €201,422 to €182,145
- Gross operating margin -€15,771
down €15,771 (-9.1%), from €174,201 to €158,429
- Taxes -€14,992
down €14,992 (-27.3%), from €54,931 to €39,938
- Financial income -€8,357
down €8,357 (-17.2%), from €48,505 to €40,147
- Financial charges +€5,634
up €5,634 (+14.6%), from €38,568 to €44,202
- Depreciation -€5,108
down €5,108 (-30.1%), from €16,945 to €11,836
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 | €1,066,095 | €1,082,345 | +€16,251 | +1.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €258,020 | €246,184 | -€11,836 | -4.6% |
| Tangible fixed assets | 22/27 | €257,995 | €246,159 | -€11,836 | -4.6% |
| Land and buildings | 22 | €240,406 | €235,306 | -€5,099 | -2.1% |
| Plant, machinery and equipment | 23 | €3,855 | €2,662 | -€1,193 | -31.0% |
| Furniture and vehicles | 24 | €12,135 | €6,591 | -€5,544 | -45.7% |
| Other tangible fixed assets | 26 | €1,600 | €1,600 | = | 0.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €808,074 | €836,161 | +€28,087 | +3.5% |
| Amounts receivable within one year | 40/41 | €27,187 | €14,256 | -€12,930 | -47.6% |
| Trade receivables | 40 | €24,565 | €5,309 | -€19,256 | -78.4% |
| Other amounts receivable | 41 | €2,622 | €8,947 | +€6,325 | +241.2% |
| Current investments | 50/53 | €566,799 | €583,053 | +€16,254 | +2.9% |
| Cash at bank and in hand | 54/58 | €210,638 | €237,250 | +€26,611 | +12.6% |
| Deferred charges and accrued income | 490/1 | €3,451 | €1,602 | -€1,848 | -53.6% |
| Total equity and liabilities | 10/49 | €1,066,095 | €1,082,345 | +€16,251 | +1.5% |
| Equity | 10/15 | €790,414 | €725,396 | -€65,018 | -8.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €771,814 | €706,796 | -€65,018 | -8.4% |
| Distributable reserves | 133 | €771,814 | €706,796 | -€65,018 | -8.4% |
| Amounts payable | 17/49 | €275,681 | €356,949 | +€81,269 | +29.5% |
| Amounts payable after more than one year | 17 | €201,422 | €182,145 | -€19,277 | -9.6% |
| Financial debts | 170/4 | €201,422 | €182,145 | -€19,277 | -9.6% |
| Amounts payable within one year | 42/48 | €74,011 | €174,762 | +€100,751 | +136.1% |
| Current portion of amounts payable after more than one year | 42 | €18,979 | €19,277 | +€298 | +1.6% |
| Trade debts | 44 | €6,351 | €13,106 | +€6,755 | +106.4% |
| Suppliers | 440/4 | €6,351 | €13,106 | +€6,755 | +106.4% |
| Taxes, remuneration and social security | 45 | €34,527 | €28,353 | -€6,175 | -17.9% |
| Taxes | 450/3 | €34,527 | €28,353 | -€6,175 | -17.9% |
| Other amounts payable | 47/48 | €14,155 | €114,026 | +€99,872 | +705.6% |
| Accrued charges and deferred income | 492/3 | €247 | €42 | -€205 | -83.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,945 | €11,836 | -€5,108 | -30.1% |
| Other operating charges | 640/8 | €3,721 | €3,840 | +€119 | +3.2% |
| Gross operating margin | 9900 | €174,201 | €158,429 | -€15,771 | -9.1% |
| Operating profit (loss) | 9901 | €153,535 | €142,753 | -€10,782 | -7.0% |
| Financial income | 75/76B | €48,505 | €40,147 | -€8,357 | -17.2% |
| Recurring financial income | 75 | €48,505 | €40,147 | -€8,357 | -17.2% |
| Financial charges | 65/66B | €38,568 | €44,202 | +€5,634 | +14.6% |
| Recurring financial charges | 65 | €38,568 | €44,202 | +€5,634 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | €163,471 | €138,698 | -€24,773 | -15.2% |
| Income taxes | 67/77 | €54,931 | €39,938 | -€14,992 | -27.3% |
| Profit (loss) for the period | 9904 | €108,541 | €98,760 | -€9,781 | -9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €108,541 | €98,760 | -€9,781 | -9.0% |
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 29 September 2026 via checked.be.