Security 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.
Security Projects
Largest movements
- Tangible fixed assets -€10,399
down €10,399 (-4.3%), from €240,224 to €229,825
of which Land and buildings: -€10,052
- Cash -€2,451
down €2,451 (-79.1%), from €3,097 to €646
mainly Debts after one year (-€16,667) and Net result for the year (-€5,213)
- Debts after one year -€16,667
down €16,667 (-29.3%), from €56,946 to €40,279
- Other debts +€7,882
up €7,882 (+10.9%), from €72,142 to €80,024
- Profit (loss) carried forward -€5,213
down €5,213 (-34.4%), from -€15,134 to -€20,347
- Gross operating margin -€3,211
down €3,211 (-18.2%), from €17,628 to €14,417
- Other operating charges -€497
down €497 (-19.0%), from €2,616 to €2,120
- Depreciation -€407
down €407 (-3.8%), from €10,806 to €10,399
- Financial charges -€366
down €366 (-4.8%), from €7,635 to €7,269
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 | €244,780 | €231,374 | -€13,406 | -5.5% |
| Fixed assets | 21/28 | €240,224 | €229,825 | -€10,399 | -4.3% |
| Tangible fixed assets | 22/27 | €240,224 | €229,825 | -€10,399 | -4.3% |
| Land and buildings | 22 | €239,877 | €229,825 | -€10,052 | -4.2% |
| Furniture and vehicles | 24 | €347 | €0 | -€347 | -100% |
| Current assets | 29/58 | €4,556 | €1,549 | -€3,007 | -66.0% |
| Amounts receivable within one year | 40/41 | €526 | €12 | -€514 | -97.7% |
| Trade receivables | 40 | €254 | €0 | -€254 | -100% |
| Other amounts receivable | 41 | €272 | €12 | -€260 | -95.5% |
| Cash at bank and in hand | 54/58 | €3,097 | €646 | -€2,451 | -79.1% |
| Deferred charges and accrued income | 490/1 | €932 | €890 | -€42 | -4.5% |
| Total equity and liabilities | 10/49 | €244,780 | €231,374 | -€13,406 | -5.5% |
| Equity | 10/15 | €97,459 | €92,246 | -€5,213 | -5.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €62,593 | €62,593 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €52,593 | €52,593 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,134 | -€20,347 | -€5,213 | -34.4% |
| Amounts payable | 17/49 | €147,320 | €139,128 | -€8,193 | -5.6% |
| Amounts payable after more than one year | 17 | €56,946 | €40,279 | -€16,667 | -29.3% |
| Financial debts | 170/4 | €56,946 | €40,279 | -€16,667 | -29.3% |
| Amounts payable within one year | 42/48 | €90,375 | €98,848 | +€8,474 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €16,667 | €16,667 | = | 0.0% |
| Trade debts | 44 | €1,191 | €2,050 | +€859 | +72.1% |
| Suppliers | 440/4 | €1,191 | €2,050 | +€859 | +72.1% |
| Taxes, remuneration and social security | 45 | €375 | €108 | -€267 | -71.1% |
| Taxes | 450/3 | €375 | €108 | -€267 | -71.1% |
| Other amounts payable | 47/48 | €72,142 | €80,024 | +€7,882 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,806 | €10,399 | -€407 | -3.8% |
| Other operating charges | 640/8 | €2,616 | €2,120 | -€497 | -19.0% |
| Gross operating margin | 9900 | €17,628 | €14,417 | -€3,211 | -18.2% |
| Operating profit (loss) | 9901 | €4,205 | €1,898 | -€2,307 | -54.9% |
| Financial income | 75/76B | €0 | €157 | +€157 | +1,570,000% |
| Recurring financial income | 75 | €0 | €157 | +€157 | +1,570,000% |
| Financial charges | 65/66B | €7,635 | €7,269 | -€366 | -4.8% |
| Recurring financial charges | 65 | €7,635 | €7,269 | -€366 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,429 | -€5,213 | -€1,784 | -52.0% |
| Income taxes | 67/77 | €119 | €0 | -€119 | -100% |
| Profit (loss) for the period | 9904 | -€3,548 | -€5,213 | -€1,665 | -46.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,548 | -€5,213 | -€1,665 | -46.9% |
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 24 October 2026 via checked.be.