REDLINE projects: 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.
REDLINE projects
Largest movements
- Cash +€6,825
up €6,825 (+33.7%), from €20,267 to €27,093
mainly Net result for the year (+€12,937) and Tax, wage and social debts (+€6,820)
- Receivables within one year +€5,259
up €5,259 (+34.3%), from €15,322 to €20,581
of which Trade receivables: +€14,909
- Tangible fixed assets +€3,780
new in 2025: €3,780
- Deferred charges and accrued income +€2,333
new in 2025: €2,333
- Profit (loss) carried forward +€12,937
up €12,937 (+43.9%), from -€29,480 to -€16,543
- Tax, wage and social debts +€6,820
up €6,820 (+3,270%), from €209 to €7,028
- Other debts -€1,312
no longer reported in 2025 (was €1,312)
- Gross operating margin +€13,090
up €13,090 (+237%), from €5,519 to €18,609
- Taxes +€2,463
up €2,463 (+144%), from €1,711 to €4,174
- Other operating charges +€1,012
up €1,012 (+261%), from €387 to €1,400
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.
Derived cash bridge
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 | €35,589 | €53,788 | +€18,198 | +51.1% |
| Fixed assets | 21/28 | - | €3,780 | +€3,780 | |
| Tangible fixed assets | 22/27 | - | €3,780 | +€3,780 | |
| Plant, machinery and equipment | 23 | - | €3,780 | +€3,780 | |
| Current assets | 29/58 | €35,589 | €50,007 | +€14,418 | +40.5% |
| Amounts receivable within one year | 40/41 | €15,322 | €20,581 | +€5,259 | +34.3% |
| Trade receivables | 40 | - | €14,909 | +€14,909 | |
| Other amounts receivable | 41 | €15,322 | €5,672 | -€9,650 | -63.0% |
| Cash at bank and in hand | 54/58 | €20,267 | €27,093 | +€6,825 | +33.7% |
| Deferred charges and accrued income | 490/1 | - | €2,333 | +€2,333 | |
| Total equity and liabilities | 10/49 | €35,589 | €53,788 | +€18,198 | +51.1% |
| Equity | 10/15 | €33,822 | €46,759 | +€12,937 | +38.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €57,102 | €57,102 | = | 0.0% |
| Distributable reserves | 133 | €57,102 | €57,102 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,480 | -€16,543 | +€12,937 | +43.9% |
| Amounts payable | 17/49 | €1,767 | €7,028 | +€5,261 | +298% |
| Amounts payable within one year | 42/48 | €1,767 | €7,028 | +€5,261 | +298% |
| Trade debts | 44 | €247 | - | -€247 | |
| Suppliers | 440/4 | €247 | - | -€247 | |
| Taxes, remuneration and social security | 45 | €209 | €7,028 | +€6,820 | +3,270% |
| Taxes | 450/3 | €209 | €7,028 | +€6,820 | +3,270% |
| Other amounts payable | 47/48 | €1,312 | - | -€1,312 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €89 | +€89 | |
| Other operating charges | 640/8 | €387 | €1,400 | +€1,012 | +261% |
| Gross operating margin | 9900 | €5,519 | €18,609 | +€13,090 | +237% |
| Operating profit (loss) | 9901 | €5,131 | €17,120 | +€11,989 | +234% |
| Financial charges | 65/66B | €119 | €9 | -€110 | -92.5% |
| Recurring financial charges | 65 | €119 | €9 | -€110 | -92.5% |
| Profit (loss) for the period before taxes | 9903 | €5,012 | €17,111 | +€12,099 | +241% |
| Income taxes | 67/77 | €1,711 | €4,174 | +€2,463 | +144% |
| Profit (loss) for the period | 9904 | €3,301 | €12,937 | +€9,636 | +292% |
| Profit (loss) for the period to be appropriated | 9905 | €3,301 | €12,937 | +€9,636 | +292% |
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 14 October 2026 via checked.be.