PROJETS: 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.
PROJETS
Largest movements
- Cash -€18,312
down €18,312 (-84.0%), from €21,802 to €3,490
mainly Net result for the year (-€17,458) and Other debts (-€5,268)
- Receivables within one year -€4,914
down €4,914 (-56.6%), from €8,688 to €3,774
of which Trade receivables: -€8,570
- Tangible fixed assets -€351
down €351 (-11.6%), from €3,028 to €2,678
- Profit (loss) carried forward -€17,458
down €17,458 (-126.9%), from -€13,757 to -€31,215
- Other debts -€5,268
no longer reported in 2025 (was €5,268)
- Tax, wage and social debts -€707
down €707 (-71.2%), from €993 to €286
- Gross operating margin -€11,764
down €11,764 (-273.9%), from -€4,296 to -€16,060
- Depreciation -€484
down €484 (-58.0%), from €834 to €351
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 | €33,669 | €10,128 | -€23,542 | -69.9% |
| Fixed assets | 21/28 | €3,028 | €2,678 | -€351 | -11.6% |
| Tangible fixed assets | 22/27 | €3,028 | €2,678 | -€351 | -11.6% |
| Furniture and vehicles | 24 | €3,028 | €2,678 | -€351 | -11.6% |
| Current assets | 29/58 | €30,641 | €7,450 | -€23,191 | -75.7% |
| Amounts receivable within one year | 40/41 | €8,688 | €3,774 | -€4,914 | -56.6% |
| Trade receivables | 40 | €8,688 | €118 | -€8,570 | -98.6% |
| Other amounts receivable | 41 | - | €3,656 | +€3,656 | |
| Cash at bank and in hand | 54/58 | €21,802 | €3,490 | -€18,312 | -84.0% |
| Deferred charges and accrued income | 490/1 | €151 | €186 | +€35 | +23.1% |
| Total equity and liabilities | 10/49 | €33,669 | €10,128 | -€23,542 | -69.9% |
| Equity | 10/15 | €27,300 | €9,842 | -€17,458 | -63.9% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €34,859 | €34,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €33,000 | €33,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,757 | -€31,215 | -€17,458 | -126.9% |
| Amounts payable | 17/49 | €6,369 | €286 | -€6,084 | -95.5% |
| Amounts payable within one year | 42/48 | €6,369 | €286 | -€6,084 | -95.5% |
| Trade debts | 44 | €109 | - | -€109 | |
| Suppliers | 440/4 | €109 | - | -€109 | |
| Taxes, remuneration and social security | 45 | €993 | €286 | -€707 | -71.2% |
| Taxes | 450/3 | €993 | €286 | -€707 | -71.2% |
| Other amounts payable | 47/48 | €5,268 | - | -€5,268 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €834 | €351 | -€484 | -58.0% |
| Other operating charges | 640/8 | €952 | €928 | -€24 | -2.5% |
| Gross operating margin | 9900 | -€4,296 | -€16,060 | -€11,764 | -273.9% |
| Operating profit (loss) | 9901 | -€6,082 | -€17,339 | -€11,257 | -185.1% |
| Financial income | 75/76B | €95 | €101 | +€7 | +7.0% |
| Recurring financial income | 75 | €95 | €101 | +€7 | +7.0% |
| Financial charges | 65/66B | €168 | €210 | +€42 | +25.1% |
| Recurring financial charges | 65 | €168 | €210 | +€42 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,155 | -€17,447 | -€11,292 | -183.5% |
| Income taxes | 67/77 | - | €11 | +€11 | |
| Profit (loss) for the period | 9904 | -€6,155 | -€17,458 | -€11,303 | -183.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,155 | -€17,458 | -€11,303 | -183.6% |
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 8 October 2026 via checked.be.