PROJEXIA: 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.
PROJEXIA
Largest movements
- Cash -€14,758
down €14,758 (-30.2%), from €48,940 to €34,182
mainly Contributions, distributions and other (-€60,000) and Investment in fixed assets (net) (-€12,524)
- Current investments -€7,909
down €7,909 (-74.1%), from €10,678 to €2,769
- Tangible fixed assets +€5,622
up €5,622 (+187.0%), from €3,006 to €8,629
of which Furniture and vehicles: +€7,441
- Receivables within one year +€5,507
up €5,507 (+61.4%), from €8,973 to €14,480
of which Trade receivables: +€5,669
- Financial fixed assets +€3,764
up €3,764 (+24.1%), from €15,631 to €19,395
- Profit (loss) carried forward -€38,463
down €38,463 (-72.5%), from €53,070 to €14,607
- Other debts +€27,116
up €27,116 (+235.6%), from €11,511 to €38,627
- Trade debts +€3,102
up €3,102 (+102.1%), from €3,037 to €6,139
- Tax, wage and social debts +€925
new in 2025: €925
- Gross operating margin +€5,959
up €5,959 (+25.3%), from €23,599 to €29,558
- Financial income +€2,361
up €2,361 (+413.8%), from €571 to €2,932
- Taxes +€1,437
up €1,437 (+26.6%), from €5,404 to €6,841
- Depreciation +€733
up €733 (+30.5%), from €2,405 to €3,138
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 | €88,755 | €81,027 | -€7,728 | -8.7% |
| Fixed assets | 21/28 | €18,637 | €28,024 | +€9,386 | +50.4% |
| Tangible fixed assets | 22/27 | €3,006 | €8,629 | +€5,622 | +187.0% |
| Plant, machinery and equipment | 23 | €2,670 | €851 | -€1,819 | -68.1% |
| Furniture and vehicles | 24 | €336 | €7,778 | +€7,441 | +2212.8% |
| Financial fixed assets | 28 | €15,631 | €19,395 | +€3,764 | +24.1% |
| Current assets | 29/58 | €70,118 | €53,003 | -€17,115 | -24.4% |
| Amounts receivable within one year | 40/41 | €8,973 | €14,480 | +€5,507 | +61.4% |
| Trade receivables | 40 | €8,138 | €13,806 | +€5,669 | +69.7% |
| Other amounts receivable | 41 | €836 | €674 | -€162 | -19.3% |
| Current investments | 50/53 | €10,678 | €2,769 | -€7,909 | -74.1% |
| Cash at bank and in hand | 54/58 | €48,940 | €34,182 | -€14,758 | -30.2% |
| Deferred charges and accrued income | 490/1 | €1,527 | €1,572 | +€46 | +3.0% |
| Total equity and liabilities | 10/49 | €88,755 | €81,027 | -€7,728 | -8.7% |
| Equity | 10/15 | €73,530 | €35,067 | -€38,463 | -52.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,070 | €14,607 | -€38,463 | -72.5% |
| Amounts payable | 17/49 | €15,225 | €45,960 | +€30,735 | +201.9% |
| Amounts payable within one year | 42/48 | €14,548 | €45,691 | +€31,143 | +214.1% |
| Trade debts | 44 | €3,037 | €6,139 | +€3,102 | +102.1% |
| Suppliers | 440/4 | €3,037 | €6,139 | +€3,102 | +102.1% |
| Taxes, remuneration and social security | 45 | - | €925 | +€925 | |
| Taxes | 450/3 | - | €925 | +€925 | |
| Other amounts payable | 47/48 | €11,511 | €38,627 | +€27,116 | +235.6% |
| Accrued charges and deferred income | 492/3 | €677 | €269 | -€408 | -60.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,405 | €3,138 | +€733 | +30.5% |
| Other operating charges | 640/8 | €720 | €746 | +€26 | +3.6% |
| Gross operating margin | 9900 | €23,599 | €29,558 | +€5,959 | +25.3% |
| Operating profit (loss) | 9901 | €20,474 | €25,674 | +€5,200 | +25.4% |
| Financial income | 75/76B | €571 | €2,932 | +€2,361 | +413.8% |
| Recurring financial income | 75 | €571 | €2,932 | +€2,361 | +413.8% |
| Financial charges | 65/66B | €318 | €228 | -€90 | -28.4% |
| Recurring financial charges | 65 | €318 | €228 | -€90 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €20,726 | €28,378 | +€7,652 | +36.9% |
| Income taxes | 67/77 | €5,404 | €6,841 | +€1,437 | +26.6% |
| Profit (loss) for the period | 9904 | €15,323 | €21,537 | +€6,214 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,323 | €21,537 | +€6,214 | +40.6% |
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 3 October 2026 via checked.be.