SN 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.
SN PROJECT
Largest movements
- Cash -€79,161
down €79,161 (-41.9%), from €188,932 to €109,771
mainly Other debts (-€38,890) and Tax, wage and social debts (-€28,661)
- Receivables within one year -€20,986
down €20,986 (-26.6%), from €78,848 to €57,862
- Tangible fixed assets +€11,891
up €11,891 (+201.1%), from €5,914 to €17,805
- Other debts -€38,890
down €38,890 (-31.8%), from €122,199 to €83,310
- Tax, wage and social debts -€28,661
down €28,661 (-31.7%), from €90,537 to €61,876
of which Taxes: -€31,432
- Trade debts -€14,767
down €14,767 (-41.1%), from €35,911 to €21,144
- Profit (loss) carried forward -€5,765
down €5,765 (-22.6%), from €25,527 to €19,763
- Staff costs +€47,503
up €47,503 (+26.6%), from €178,680 to €226,183
- Gross operating margin -€17,682
down €17,682 (-6.3%), from €280,220 to €262,538
- Taxes -€13,963
down €13,963 (-69.9%), from €19,981 to €6,018
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 | €276,175 | €188,093 | -€88,082 | -31.9% |
| Fixed assets | 21/28 | €6,659 | €18,450 | +€11,791 | +177.1% |
| Intangible fixed assets | 21 | €116 | €16 | -€100 | -85.9% |
| Tangible fixed assets | 22/27 | €5,914 | €17,805 | +€11,891 | +201.1% |
| Furniture and vehicles | 24 | €5,914 | €17,805 | +€11,891 | +201.1% |
| Financial fixed assets | 28 | €629 | €629 | = | 0.0% |
| Current assets | 29/58 | €269,516 | €169,643 | -€99,873 | -37.1% |
| Stocks and contracts in progress | 3 | €496 | €496 | = | 0.0% |
| Stocks | 30/36 | €496 | €496 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €78,848 | €57,862 | -€20,986 | -26.6% |
| Trade receivables | 40 | €78,848 | €57,862 | -€20,986 | -26.6% |
| Cash at bank and in hand | 54/58 | €188,932 | €109,771 | -€79,161 | -41.9% |
| Deferred charges and accrued income | 490/1 | €1,240 | €1,514 | +€274 | +22.1% |
| Total equity and liabilities | 10/49 | €276,175 | €188,093 | -€88,082 | -31.9% |
| Equity | 10/15 | €27,527 | €21,763 | -€5,765 | -20.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,527 | €19,763 | -€5,765 | -22.6% |
| Amounts payable | 17/49 | €248,648 | €166,330 | -€82,318 | -33.1% |
| Amounts payable within one year | 42/48 | €248,648 | €166,330 | -€82,318 | -33.1% |
| Trade debts | 44 | €35,911 | €21,144 | -€14,767 | -41.1% |
| Suppliers | 440/4 | €35,911 | €21,144 | -€14,767 | -41.1% |
| Taxes, remuneration and social security | 45 | €90,537 | €61,876 | -€28,661 | -31.7% |
| Taxes | 450/3 | €56,748 | €25,316 | -€31,432 | -55.4% |
| Remuneration and social security | 454/9 | €33,789 | €36,560 | +€2,771 | +8.2% |
| Other amounts payable | 47/48 | €122,199 | €83,310 | -€38,890 | -31.8% |
| Remuneration, social security and pensions | 62 | €178,680 | €226,183 | +€47,503 | +26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,927 | €5,704 | -€223 | -3.8% |
| Other operating charges | 640/8 | €1,893 | €2,830 | +€937 | +49.5% |
| Gross operating margin | 9900 | €280,220 | €262,538 | -€17,682 | -6.3% |
| Operating profit (loss) | 9901 | €93,720 | €27,822 | -€65,899 | -70.3% |
| Financial income | 75/76B | €15 | - | -€15 | |
| Recurring financial income | 75 | €15 | - | -€15 | |
| Financial charges | 65/66B | €3,980 | €3,837 | -€142 | -3.6% |
| Recurring financial charges | 65 | €3,980 | €3,837 | -€142 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €89,756 | €23,984 | -€65,772 | -73.3% |
| Income taxes | 67/77 | €19,981 | €6,018 | -€13,963 | -69.9% |
| Profit (loss) for the period | 9904 | €69,775 | €17,967 | -€51,809 | -74.3% |
| Profit (loss) for the period to be appropriated | 9905 | €69,775 | €17,967 | -€51,809 | -74.3% |
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 12 October 2026 via checked.be.