REPROJECT: 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.
REPROJECT
Largest movements
- Stocks and contracts +€536,768
up €536,768 (+58.3%), from €921,293 to €1.5m
- Receivables within one year +€18,580
up €18,580 (+829.5%), from €2,240 to €20,819
of which Other amounts receivable: +€20,819
- Short-term financial debts +€584,880
up €584,880 (+172.7%), from €338,681 to €923,560
- Trade debts -€301,304
down €301,304 (-75.2%), from €400,655 to €99,351
- Reserves +€260,582
up €260,582 (+864.1%), from €30,158 to €290,740
- Tax, wage and social debts +€77,743
up €77,743 (+802.7%), from €9,685 to €87,428
- Other debts -€75,459
down €75,459 (-43.9%), from €172,082 to €96,624
- Gross operating margin +€296,645
up €296,645 (+338.8%), from €87,564 to €384,208
- Taxes +€73,105
up €73,105 (+1020.9%), from €7,161 to €80,267
- Staff costs -€18,551
no longer reported in 2025 (was €18,551)
- Financial charges +€10,131
up €10,131 (+39.6%), from €25,555 to €35,686
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 | €954,261 | €1,500,703 | +€546,442 | +57.3% |
| Fixed assets | 21/28 | €25,312 | €18,188 | -€7,124 | -28.1% |
| Tangible fixed assets | 22/27 | €23,812 | €16,688 | -€7,124 | -29.9% |
| Plant, machinery and equipment | 23 | €8,030 | €5,006 | -€3,024 | -37.7% |
| Other tangible fixed assets | 26 | €15,782 | €11,682 | -€4,100 | -26.0% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €928,949 | €1,482,514 | +€553,566 | +59.6% |
| Stocks and contracts in progress | 3 | €921,293 | €1,458,060 | +€536,768 | +58.3% |
| Stocks | 30/36 | €921,293 | €1,458,060 | +€536,768 | +58.3% |
| Amounts receivable within one year | 40/41 | €2,240 | €20,819 | +€18,580 | +829.5% |
| Trade receivables | 40 | €2,240 | - | -€2,240 | |
| Other amounts receivable | 41 | - | €20,819 | +€20,819 | |
| Cash at bank and in hand | 54/58 | €5,416 | €3,634 | -€1,782 | -32.9% |
| Total equity and liabilities | 10/49 | €954,261 | €1,500,703 | +€546,442 | +57.3% |
| Equity | 10/15 | €33,158 | €293,740 | +€260,582 | +785.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €30,158 | €290,740 | +€260,582 | +864.1% |
| Distributable reserves | 133 | €30,158 | €290,740 | +€260,582 | +864.1% |
| Amounts payable | 17/49 | €921,103 | €1,206,962 | +€285,860 | +31.0% |
| Amounts payable within one year | 42/48 | €921,103 | €1,206,962 | +€285,860 | +31.0% |
| Financial debts | 43 | €338,681 | €923,560 | +€584,880 | +172.7% |
| Credit institutions | 430/8 | €338,681 | €923,560 | +€584,880 | +172.7% |
| Trade debts | 44 | €400,655 | €99,351 | -€301,304 | -75.2% |
| Suppliers | 440/4 | €400,655 | €99,351 | -€301,304 | -75.2% |
| Taxes, remuneration and social security | 45 | €9,685 | €87,428 | +€77,743 | +802.7% |
| Taxes | 450/3 | €9,685 | €87,428 | +€77,743 | +802.7% |
| Other amounts payable | 47/48 | €172,082 | €96,624 | -€75,459 | -43.9% |
| Remuneration, social security and pensions | 62 | €18,551 | - | -€18,551 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,124 | €7,124 | = | 0.0% |
| Other operating charges | 640/8 | €866 | €550 | -€316 | -36.5% |
| Gross operating margin | 9900 | €87,564 | €384,208 | +€296,645 | +338.8% |
| Operating profit (loss) | 9901 | €61,023 | €376,535 | +€315,512 | +517.0% |
| Financial income | 75/76B | €26 | - | -€26 | |
| Recurring financial income | 75 | €26 | - | -€26 | |
| Financial charges | 65/66B | €25,555 | €35,686 | +€10,131 | +39.6% |
| Recurring financial charges | 65 | €25,555 | €35,686 | +€10,131 | +39.6% |
| Profit (loss) for the period before taxes | 9903 | €35,494 | €340,849 | +€305,355 | +860.3% |
| Income taxes | 67/77 | €7,161 | €80,267 | +€73,105 | +1020.9% |
| Profit (loss) for the period | 9904 | €28,332 | €260,582 | +€232,250 | +819.7% |
| Profit (loss) for the period to be appropriated | 9905 | €28,332 | €260,582 | +€232,250 | +819.7% |
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 5 October 2026 via checked.be.