PROJETS & EXPERTISE: 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.
PROJETS & EXPERTISE
Largest movements
- Current investments +€127,221
up €127,221 (+334.8%), from €38,000 to €165,221
- Cash -€77,003
down €77,003 (-41.5%), from €185,708 to €108,705
mainly Current investments (-€127,221) and Receivables within one year (-€11,801)
- Receivables within one year +€11,801
up €11,801 (+857.6%), from €1,376 to €13,177
- Tangible fixed assets -€9,326
down €9,326 (-54.6%), from €17,069 to €7,743
- Reserves +€60,635
up €60,635 (+25.9%), from €233,763 to €294,398
- Tax, wage and social debts -€7,545
down €7,545 (-69.9%), from €10,800 to €3,255
- Gross operating margin -€32,389
down €32,389 (-27.5%), from €117,782 to €85,393
- Financial income +€14,229
up €14,229 (+1378.8%), from €1,032 to €15,261
- Taxes -€9,217
down €9,217 (-25.2%), from €36,568 to €27,351
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 | €242,810 | €295,900 | +€53,090 | +21.9% |
| Fixed assets | 21/28 | €17,069 | €7,743 | -€9,326 | -54.6% |
| Tangible fixed assets | 22/27 | €17,069 | €7,743 | -€9,326 | -54.6% |
| Furniture and vehicles | 24 | €17,069 | €7,743 | -€9,326 | -54.6% |
| Current assets | 29/58 | €225,741 | €288,157 | +€62,416 | +27.6% |
| Amounts receivable within one year | 40/41 | €1,376 | €13,177 | +€11,801 | +857.6% |
| Other amounts receivable | 41 | €1,376 | €13,177 | +€11,801 | +857.6% |
| Current investments | 50/53 | €38,000 | €165,221 | +€127,221 | +334.8% |
| Cash at bank and in hand | 54/58 | €185,708 | €108,705 | -€77,003 | -41.5% |
| Deferred charges and accrued income | 490/1 | €657 | €1,054 | +€397 | +60.4% |
| Total equity and liabilities | 10/49 | €242,810 | €295,900 | +€53,090 | +21.9% |
| Equity | 10/15 | €232,010 | €292,645 | +€60,635 | +26.1% |
| Contributions | 10/11 | €16,740 | €16,740 | = | 0.0% |
| Reserves | 13 | €233,763 | €294,398 | +€60,635 | +25.9% |
| Distributable reserves | 133 | €233,763 | €294,398 | +€60,635 | +25.9% |
| Profit (loss) carried forward | 14 | -€18,493 | -€18,493 | = | 0.0% |
| Amounts payable | 17/49 | €10,800 | €3,255 | -€7,545 | -69.9% |
| Amounts payable within one year | 42/48 | €10,800 | €3,255 | -€7,545 | -69.9% |
| Taxes, remuneration and social security | 45 | €10,800 | €3,255 | -€7,545 | -69.9% |
| Taxes | 450/3 | €10,800 | €3,255 | -€7,545 | -69.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,067 | €9,326 | +€259 | +2.9% |
| Other operating charges | 640/8 | €1,247 | €938 | -€309 | -24.8% |
| Gross operating margin | 9900 | €117,782 | €85,393 | -€32,389 | -27.5% |
| Operating profit (loss) | 9901 | €107,468 | €75,129 | -€32,339 | -30.1% |
| Financial income | 75/76B | €1,032 | €15,261 | +€14,229 | +1378.8% |
| Recurring financial income | 75 | €1,032 | €15,261 | +€14,229 | +1378.8% |
| Financial charges | 65/66B | €31 | €44 | +€13 | +41.9% |
| Recurring financial charges | 65 | €31 | €44 | +€13 | +41.9% |
| Profit (loss) for the period before taxes | 9903 | €108,469 | €90,346 | -€18,123 | -16.7% |
| Income taxes | 67/77 | €36,568 | €27,351 | -€9,217 | -25.2% |
| Profit (loss) for the period | 9904 | €71,901 | €62,995 | -€8,906 | -12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €71,901 | €62,995 | -€8,906 | -12.4% |
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 12 October 2026 via checked.be.