Surplus 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.
Surplus Projects
Largest movements
- Receivables within one year +€137,123
up €137,123 (+668%), from €20,527 to €157,650
of which Trade receivables: +€117,298
- Tangible fixed assets -€106,037
down €106,037 (-4.3%), from €2.4m to €2.3m
of which Land and buildings: -€111,618
- Cash -€73,837
down €73,837 (-65.7%), from €112,317 to €38,480
mainly Receivables within one year (-€137,123) and Other debts (-€124,805)
- Other debts -€124,805
down €124,805 (-23.0%), from €542,114 to €417,309
- Trade debts +€110,576
up €110,576 (+700%), from €15,802 to €126,378
- Debts after one year -€109,276
down €109,276 (-5.9%), from €1.8m to €1.7m
- Profit (loss) carried forward +€69,663
up €69,663 (+25.1%), from -€277,376 to -€207,712
- Gross operating margin +€94,362
up €94,362 (+53.2%), from €177,515 to €271,878
- Depreciation +€4,284
up €4,284 (+3.8%), from €114,181 to €118,465
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 | €2,585,856 | €2,550,755 | -€35,101 | -1.4% |
| Fixed assets | 21/28 | €2,449,489 | €2,343,452 | -€106,037 | -4.3% |
| Tangible fixed assets | 22/27 | €2,449,489 | €2,343,452 | -€106,037 | -4.3% |
| Land and buildings | 22 | €2,444,250 | €2,332,632 | -€111,618 | -4.6% |
| Plant, machinery and equipment | 23 | €1,797 | €548 | -€1,250 | -69.5% |
| Furniture and vehicles | 24 | €3,442 | €10,272 | +€6,830 | +198% |
| Current assets | 29/58 | €136,367 | €207,303 | +€70,936 | +52.0% |
| Amounts receivable within one year | 40/41 | €20,527 | €157,650 | +€137,123 | +668% |
| Trade receivables | 40 | - | €117,298 | +€117,298 | |
| Other amounts receivable | 41 | €20,527 | €40,352 | +€19,825 | +96.6% |
| Cash at bank and in hand | 54/58 | €112,317 | €38,480 | -€73,837 | -65.7% |
| Deferred charges and accrued income | 490/1 | €3,524 | €11,173 | +€7,650 | +217% |
| Total equity and liabilities | 10/49 | €2,585,856 | €2,550,755 | -€35,101 | -1.4% |
| Equity | 10/15 | €63,824 | €133,488 | +€69,663 | +109% |
| Contributions | 10/11 | €341,200 | €341,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€277,376 | -€207,712 | +€69,663 | +25.1% |
| Amounts payable | 17/49 | €2,522,032 | €2,417,267 | -€104,765 | -4.2% |
| Amounts payable after more than one year | 17 | €1,844,381 | €1,735,105 | -€109,276 | -5.9% |
| Financial debts | 170/4 | €1,844,381 | €1,735,105 | -€109,276 | -5.9% |
| Amounts payable within one year | 42/48 | €677,651 | €682,162 | +€4,511 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €106,220 | €109,276 | +€3,056 | +2.9% |
| Trade debts | 44 | €15,802 | €126,378 | +€110,576 | +700% |
| Suppliers | 440/4 | €15,802 | €126,378 | +€110,576 | +700% |
| Advances received on contracts in progress | 46 | €13,080 | €29,200 | +€16,120 | +123% |
| Taxes, remuneration and social security | 45 | €436 | - | -€436 | |
| Taxes | 450/3 | €436 | - | -€436 | |
| Other amounts payable | 47/48 | €542,114 | €417,309 | -€124,805 | -23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,181 | €118,465 | +€4,284 | +3.8% |
| Other operating charges | 640/8 | €19,141 | €21,665 | +€2,525 | +13.2% |
| Gross operating margin | 9900 | €177,515 | €271,878 | +€94,362 | +53.2% |
| Operating profit (loss) | 9901 | €44,194 | €131,747 | +€87,553 | +198% |
| Financial income | 75/76B | €0 | €0 | +€0 | +286% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +286% |
| Financial charges | 65/66B | €64,122 | €62,084 | -€2,038 | -3.2% |
| Recurring financial charges | 65 | €64,122 | €62,084 | -€2,038 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | -€19,928 | €69,663 | +€89,592 | |
| Profit (loss) for the period | 9904 | -€19,928 | €69,663 | +€89,592 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,928 | €69,663 | +€89,592 |
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 17 October 2026 via checked.be.