S-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.
S-PROJECTS
Largest movements
- Cash +€16,128
up €16,128 (+488%), from €3,306 to €19,434
mainly Net result for the year (+€12,892) and Receivables within one year (+€5,636)
- Receivables within one year -€5,636
down €5,636 (-7.3%), from €77,580 to €71,944
of which Trade receivables: -€9,158
- Tangible fixed assets -€1,478
down €1,478 (-26.0%), from €5,689 to €4,211
- Profit (loss) carried forward +€12,892
up €12,892 (+28.6%), from €45,031 to €57,923
- Tax, wage and social debts -€1,806
down €1,806 (-37.5%), from €4,816 to €3,011
- Trade debts -€1,623
down €1,623 (-54.8%), from €2,961 to €1,338
- Taxes -€5,211
down €5,211 (-63.5%), from €8,211 to €3,000
- Gross operating margin +€2,230
up €2,230 (+13.3%), from €16,714 to €18,944
- Other operating charges +€255
up €255 (+27.4%), from €932 to €1,187
- Financial charges +€252
up €252 (+187%), from €135 to €387
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 | €86,575 | €95,589 | +€9,013 | +10.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €5,689 | €4,211 | -€1,478 | -26.0% |
| Tangible fixed assets | 22/27 | €5,689 | €4,211 | -€1,478 | -26.0% |
| Land and buildings | 22 | €5,689 | €4,211 | -€1,478 | -26.0% |
| Current assets | 29/58 | €80,886 | €91,378 | +€10,492 | +13.0% |
| Amounts receivable within one year | 40/41 | €77,580 | €71,944 | -€5,636 | -7.3% |
| Trade receivables | 40 | €9,158 | - | -€9,158 | |
| Other amounts receivable | 41 | €68,422 | €71,944 | +€3,521 | +5.1% |
| Cash at bank and in hand | 54/58 | €3,306 | €19,434 | +€16,128 | +488% |
| Total equity and liabilities | 10/49 | €86,575 | €95,589 | +€9,013 | +10.4% |
| Equity | 10/15 | €78,348 | €91,240 | +€12,892 | +16.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €14,717 | €14,717 | = | 0.0% |
| Distributable reserves | 133 | €14,717 | €14,717 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,031 | €57,923 | +€12,892 | +28.6% |
| Amounts payable | 17/49 | €8,228 | €4,349 | -€3,879 | -47.1% |
| Amounts payable within one year | 42/48 | €7,778 | €4,349 | -€3,429 | -44.1% |
| Trade debts | 44 | €2,961 | €1,338 | -€1,623 | -54.8% |
| Suppliers | 440/4 | €2,961 | €1,338 | -€1,623 | -54.8% |
| Taxes, remuneration and social security | 45 | €4,816 | €3,011 | -€1,806 | -37.5% |
| Taxes | 450/3 | €4,816 | €3,011 | -€1,806 | -37.5% |
| Accrued charges and deferred income | 492/3 | €450 | - | -€450 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,478 | €1,478 | = | 0.0% |
| Other operating charges | 640/8 | €932 | €1,187 | +€255 | +27.4% |
| Gross operating margin | 9900 | €16,714 | €18,944 | +€2,230 | +13.3% |
| Operating profit (loss) | 9901 | €14,304 | €16,279 | +€1,975 | +13.8% |
| Financial charges | 65/66B | €135 | €387 | +€252 | +187% |
| Recurring financial charges | 65 | €135 | €387 | +€252 | +187% |
| Profit (loss) for the period before taxes | 9903 | €14,169 | €15,892 | +€1,723 | +12.2% |
| Income taxes | 67/77 | €8,211 | €3,000 | -€5,211 | -63.5% |
| Profit (loss) for the period | 9904 | €5,958 | €12,892 | +€6,934 | +116% |
| Profit (loss) for the period to be appropriated | 9905 | €5,958 | €12,892 | +€6,934 | +116% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.