SPECIAL 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.
SPECIAL PROJECTS
Largest movements
- Tangible fixed assets -€39,889
down €39,889 (-13.5%), from €295,970 to €256,080
- Cash +€17,302
up €17,302 (+51.6%), from €33,539 to €50,841
mainly Depreciation (+€43,650) and Other debts (+€6,951)
- Deferred charges and accrued income +€3,880
up €3,880 (+75.8%), from €5,120 to €9,000
- Debts after one year -€35,343
down €35,343 (-15.8%), from €223,246 to €187,903
of which Financial debts: -€35,343
- Other debts +€6,951
up €6,951 (+79.6%), from €8,728 to €15,679
- Gross operating margin +€10,200
up €10,200 (+20.2%), from €50,484 to €60,684
- Other operating charges +€3,983
up €3,983 (+223%), from €1,782 to €5,766
- Depreciation +€2,398
up €2,398 (+5.8%), from €41,253 to €43,650
- Taxes +€1,538
up €1,538 (+3,421%), from €45 to €1,583
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 | €374,364 | €352,857 | -€21,507 | -5.7% |
| Fixed assets | 21/28 | €295,970 | €256,080 | -€39,889 | -13.5% |
| Tangible fixed assets | 22/27 | €295,970 | €256,080 | -€39,889 | -13.5% |
| Land and buildings | 22 | €179,004 | €170,338 | -€8,667 | -4.8% |
| Plant, machinery and equipment | 23 | €81,849 | €67,317 | -€14,532 | -17.8% |
| Furniture and vehicles | 24 | €35,117 | €18,426 | -€16,691 | -47.5% |
| Current assets | 29/58 | €78,394 | €96,777 | +€18,383 | +23.4% |
| Stocks and contracts in progress | 3 | €25,994 | €24,033 | -€1,961 | -7.5% |
| Stocks | 30/36 | €25,994 | €24,033 | -€1,961 | -7.5% |
| Amounts receivable within one year | 40/41 | €13,741 | €12,902 | -€839 | -6.1% |
| Trade receivables | 40 | €8,717 | €9,416 | +€699 | +8.0% |
| Other amounts receivable | 41 | €5,024 | €3,486 | -€1,538 | -30.6% |
| Cash at bank and in hand | 54/58 | €33,539 | €50,841 | +€17,302 | +51.6% |
| Deferred charges and accrued income | 490/1 | €5,120 | €9,000 | +€3,880 | +75.8% |
| Total equity and liabilities | 10/49 | €374,364 | €352,857 | -€21,507 | -5.7% |
| Equity | 10/15 | €96,913 | €100,602 | +€3,689 | +3.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €71,913 | €75,602 | +€3,689 | +5.1% |
| Tax-exempt reserves | 132 | €10,747 | €10,747 | = | 0.0% |
| Distributable reserves | 133 | €61,166 | €64,855 | +€3,689 | +6.0% |
| Amounts payable | 17/49 | €277,451 | €252,255 | -€25,196 | -9.1% |
| Amounts payable after more than one year | 17 | €223,246 | €187,903 | -€35,343 | -15.8% |
| Financial debts | 170/4 | €178,246 | €142,903 | -€35,343 | -19.8% |
| Other amounts payable | 178/9 | €45,000 | €45,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €53,826 | €62,179 | +€8,354 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | €36,124 | €37,044 | +€920 | +2.5% |
| Trade debts | 44 | €280 | €705 | +€425 | +152% |
| Suppliers | 440/4 | €280 | €705 | +€425 | +152% |
| Taxes, remuneration and social security | 45 | €8,693 | €8,751 | +€58 | +0.7% |
| Taxes | 450/3 | €8,693 | €8,751 | +€58 | +0.7% |
| Other amounts payable | 47/48 | €8,728 | €15,679 | +€6,951 | +79.6% |
| Accrued charges and deferred income | 492/3 | €379 | €2,173 | +€1,794 | +473% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,253 | €43,650 | +€2,398 | +5.8% |
| Other operating charges | 640/8 | €1,782 | €5,766 | +€3,983 | +223% |
| Gross operating margin | 9900 | €50,484 | €60,684 | +€10,200 | +20.2% |
| Operating profit (loss) | 9901 | €7,449 | €11,268 | +€3,819 | +51.3% |
| Financial income | 75/76B | €104 | €14 | -€91 | -86.7% |
| Recurring financial income | 75 | €104 | €14 | -€91 | -86.7% |
| Financial charges | 65/66B | €5,514 | €6,011 | +€497 | +9.0% |
| Recurring financial charges | 65 | €5,514 | €6,011 | +€497 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €2,039 | €5,271 | +€3,232 | +158% |
| Income taxes | 67/77 | €45 | €1,583 | +€1,538 | +3,421% |
| Profit (loss) for the period | 9904 | €1,994 | €3,689 | +€1,694 | +84.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,994 | €3,689 | +€1,694 | +84.9% |
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 26 October 2026 via checked.be.