R-projects: 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.
R-projects
Largest movements
- Stocks and contracts -€5,000
down €5,000 (-20.0%), from €25,000 to €20,000
- Receivables within one year -€1,364
down €1,364 (-27.1%), from €5,032 to €3,668
of which Trade receivables: -€1,756
- Cash -€1,065
down €1,065 (-56.0%), from €1,901 to €836
mainly Net result for the year (-€28,125) and Accrued charges and deferred income (-€4,650)
- Tangible fixed assets -€778
down €778 (-50.0%), from €1,556 to €777
- Profit (loss) carried forward -€24,929
new in 2025: -€24,929
- Other debts +€21,490
up €21,490 (+493.3%), from €4,356 to €25,846
- Accrued charges and deferred income -€4,650
no longer reported in 2025 (was €4,650)
- Trade debts +€3,917
up €3,917 (+1121.9%), from €349 to €4,267
- Reserves -€3,197
no longer reported in 2025 (was €3,197)
- Gross operating margin +€12,884
up €12,884 (+33.1%), from -€38,959 to -€26,075
- Financial charges -€1,385
down €1,385 (-58.6%), from €2,364 to €979
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 | €33,762 | €25,761 | -€8,001 | -23.7% |
| Fixed assets | 21/28 | €1,556 | €777 | -€778 | -50.0% |
| Tangible fixed assets | 22/27 | €1,556 | €777 | -€778 | -50.0% |
| Furniture and vehicles | 24 | €1,556 | €777 | -€778 | -50.0% |
| Current assets | 29/58 | €32,206 | €24,983 | -€7,223 | -22.4% |
| Stocks and contracts in progress | 3 | €25,000 | €20,000 | -€5,000 | -20.0% |
| Stocks | 30/36 | €25,000 | €20,000 | -€5,000 | -20.0% |
| Amounts receivable within one year | 40/41 | €5,032 | €3,668 | -€1,364 | -27.1% |
| Trade receivables | 40 | €3,642 | €1,886 | -€1,756 | -48.2% |
| Other amounts receivable | 41 | €1,390 | €1,781 | +€392 | +28.2% |
| Cash at bank and in hand | 54/58 | €1,901 | €836 | -€1,065 | -56.0% |
| Deferred charges and accrued income | 490/1 | €273 | €479 | +€206 | +75.5% |
| Total equity and liabilities | 10/49 | €33,762 | €25,761 | -€8,001 | -23.7% |
| Equity | 10/15 | €23,657 | -€4,469 | -€28,125 | |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €3,197 | - | -€3,197 | |
| Distributable reserves | 133 | €3,197 | - | -€3,197 | |
| Profit (loss) carried forward | 14 | - | -€24,929 | -€24,929 | |
| Amounts payable | 17/49 | €10,105 | €30,229 | +€20,124 | +199.1% |
| Amounts payable within one year | 42/48 | €5,455 | €30,229 | +€24,774 | +454.1% |
| Financial debts | 43 | - | €117 | +€117 | |
| Credit institutions | 430/8 | - | €117 | +€117 | |
| Trade debts | 44 | €349 | €4,267 | +€3,917 | +1121.9% |
| Suppliers | 440/4 | €349 | €4,267 | +€3,917 | +1121.9% |
| Taxes, remuneration and social security | 45 | €750 | - | -€750 | |
| Taxes | 450/3 | €750 | - | -€750 | |
| Other amounts payable | 47/48 | €4,356 | €25,846 | +€21,490 | +493.3% |
| Accrued charges and deferred income | 492/3 | €4,650 | - | -€4,650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €733 | €778 | +€46 | +6.2% |
| Other operating charges | 640/8 | €532 | €375 | -€157 | -29.5% |
| Gross operating margin | 9900 | -€38,959 | -€26,075 | +€12,884 | +33.1% |
| Operating profit (loss) | 9901 | -€40,223 | -€27,228 | +€12,995 | +32.3% |
| Financial income | 75/76B | €32 | €81 | +€50 | +156.5% |
| Recurring financial income | 75 | €32 | €81 | +€50 | +156.5% |
| Financial charges | 65/66B | €2,364 | €979 | -€1,385 | -58.6% |
| Recurring financial charges | 65 | €2,364 | €979 | -€1,385 | -58.6% |
| Profit (loss) for the period before taxes | 9903 | -€42,555 | -€28,125 | +€14,430 | +33.9% |
| Profit (loss) for the period | 9904 | -€42,555 | -€28,125 | +€14,430 | +33.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,555 | -€28,125 | +€14,430 | +33.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.