RIVER PROJECT: 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.
RIVER PROJECT
Largest movements
- Tangible fixed assets -€4,659
down €4,659 (-11.1%), from €41,830 to €37,171
of which Land and buildings: -€4,520
- Cash +€4,492
up €4,492 (+4.0%), from €112,331 to €116,823
mainly Depreciation (+€4,659) and Trade debts (+€1,422)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€3,294
up €3,294 (+100.8%), from €3,270 to €6,564
- Financial income -€175
down €175 (-16.6%), from €1,057 to €882
- Other operating charges +€127
up €127 (+3.1%), from €4,042 to €4,169
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 | €154,616 | €154,611 | -€5 | 0.0% |
| Fixed assets | 21/28 | €41,830 | €37,171 | -€4,659 | -11.1% |
| Tangible fixed assets | 22/27 | €41,830 | €37,171 | -€4,659 | -11.1% |
| Land and buildings | 22 | €41,451 | €36,930 | -€4,520 | -10.9% |
| Furniture and vehicles | 24 | €380 | €241 | -€139 | -36.6% |
| Current assets | 29/58 | €112,786 | €117,440 | +€4,654 | +4.1% |
| Amounts receivable within one year | 40/41 | €421 | €582 | +€161 | +38.3% |
| Other amounts receivable | 41 | €421 | €582 | +€161 | +38.3% |
| Cash at bank and in hand | 54/58 | €112,331 | €116,823 | +€4,492 | +4.0% |
| Deferred charges and accrued income | 490/1 | €34 | €36 | +€2 | +4.8% |
| Total equity and liabilities | 10/49 | €154,616 | €154,611 | -€5 | 0.0% |
| Equity | 10/15 | €139,274 | €137,847 | -€1,427 | -1.0% |
| Contributions | 10/11 | €33,786 | €33,786 | = | 0.0% |
| Contributions outside capital | 11 | €33,786 | - | -€33,786 | |
| Other | 1109/19 | €33,786 | - | -€33,786 | |
| Reserves | 13 | €82,213 | €82,213 | = | 0.0% |
| Distributable reserves | 133 | €82,213 | €82,213 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,275 | €21,848 | -€1,427 | -6.1% |
| Amounts payable | 17/49 | €15,342 | €16,765 | +€1,422 | +9.3% |
| Amounts payable within one year | 42/48 | €14,342 | €15,765 | +€1,422 | +9.9% |
| Trade debts | 44 | €13,702 | €15,124 | +€1,422 | +10.4% |
| Suppliers | 440/4 | €13,702 | €15,124 | +€1,422 | +10.4% |
| Taxes, remuneration and social security | 45 | €496 | €496 | = | 0.0% |
| Remuneration and social security | 454/9 | €496 | €496 | = | 0.0% |
| Other amounts payable | 47/48 | €144 | €144 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,723 | €4,659 | -€63 | -1.3% |
| Other operating charges | 640/8 | €4,042 | €4,169 | +€127 | +3.1% |
| Non-recurring operating charges | 66A | €118 | - | -€118 | |
| Gross operating margin | 9900 | €3,270 | €6,564 | +€3,294 | +100.8% |
| Operating profit (loss) | 9901 | -€5,613 | -€2,265 | +€3,348 | +59.7% |
| Financial income | 75/76B | €1,057 | €882 | -€175 | -16.6% |
| Recurring financial income | 75 | €1,057 | €882 | -€175 | -16.6% |
| Financial charges | 65/66B | €46 | €45 | -€1 | -2.6% |
| Recurring financial charges | 65 | €46 | €45 | -€1 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,601 | -€1,427 | +€3,174 | +69.0% |
| Profit (loss) for the period | 9904 | -€4,601 | -€1,427 | +€3,174 | +69.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,601 | -€1,427 | +€3,174 | +69.0% |
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 11 October 2026 via checked.be.