TECHNICAL PROJECT MANAGEMENT: 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.
What changed
TECHNICAL PROJECT MANAGEMENT
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2,477
2024 · €19,517-€17,041
Equity
-€1.5m
2024 · -€1.5m+€2,477
Cash
€386
2024 · €186+€200
Balance sheet total
€316,386
2024 · €291,843+€24,543
Largest movements
Assets
- Receivables within one year +€27,008
up €27,008 (+10.3%), from €262,856 to €289,864
of which Trade receivables: +€27,335
Equity and liabilities
- Trade debts +€259,386
up €259,386 (+95.0%), from €273,078 to €532,464
- Other debts -€145,873
down €145,873 (-27.5%), from €530,042 to €384,169
- Tax, wage and social debts -€129,597
down €129,597 (-70.3%), from €184,344 to €54,747
of which Remuneration and social security: -€72,023
- Short-term financial debts +€22,752
new in 2025: €22,752
- Accrued charges and deferred income +€15,398
up €15,398 (+39.2%), from €39,320 to €54,719
Income statement
- Staff costs +€13,120
up €13,120 (+4.1%), from €323,176 to €336,296
- Financial charges -€9,122
down €9,122 (-17.1%), from €53,343 to €44,222
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.
Result 2024
€19,517
Gross operating margin
+€2,464
Staff costs
-€13,120
Depreciation
-€910
Other operating charges
+€2,405
Other operating items
-€19,193
Financial income
-€12
Financial charges
+€9,122
Taxes
+€2,203
Result 2025
€2,477
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€21,803
Investment
-€749
Financing
+€22,752
Cash 2024
€186
From operations (derived)
-€21,803
Net result for the year
+€2,477
Depreciation
+€2,266
Receivables within one year
-€27,008
Deferred charges and accrued income
+€1,148
Trade debts
+€259,386
Tax, wage and social debts
-€129,597
Other debts
-€145,873
Accrued charges and deferred income
+€15,398
Investment (derived)
-€749
Investment in fixed assets (net)
-€749
Financing
+€22,752
Short-term financial debts
+€22,752
Cash 2025
€386
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €291,843 | €316,386 | +€24,543 | +8.4% |
| Fixed assets | 21/28 | €5,093 | €3,575 | -€1,518 | -29.8% |
| Tangible fixed assets | 22/27 | €5,093 | €3,575 | -€1,518 | -29.8% |
| Furniture and vehicles | 24 | €5,093 | €3,575 | -€1,518 | -29.8% |
| Current assets | 29/58 | €286,750 | €312,811 | +€26,061 | +9.1% |
| Stocks and contracts in progress | 3 | €22,560 | €22,560 | = | 0.0% |
| Stocks | 30/36 | €22,560 | €22,560 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €262,856 | €289,864 | +€27,008 | +10.3% |
| Trade receivables | 40 | €262,529 | €289,864 | +€27,335 | +10.4% |
| Other amounts receivable | 41 | €327 | €0 | -€327 | -100% |
| Cash at bank and in hand | 54/58 | €186 | €386 | +€200 | +108% |
| Deferred charges and accrued income | 490/1 | €1,148 | €0 | -€1,148 | -100% |
| Total equity and liabilities | 10/49 | €291,843 | €316,386 | +€24,543 | +8.4% |
| Equity | 10/15 | -€1,466,721 | -€1,464,244 | +€2,477 | +0.2% |
| Contributions | 10/11 | €29,758 | €29,758 | = | 0.0% |
| Reserves | 13 | €47,290 | €47,290 | = | 0.0% |
| Distributable reserves | 133 | €47,290 | €47,290 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,543,769 | -€1,541,292 | +€2,477 | +0.2% |
| Amounts payable | 17/49 | €1,758,564 | €1,780,630 | +€22,066 | +1.3% |
| Amounts payable after more than one year | 17 | €731,780 | €731,780 | = | 0.0% |
| Financial debts | 170/4 | €731,780 | €731,780 | = | 0.0% |
| Amounts payable within one year | 42/48 | €987,464 | €994,132 | +€6,668 | +0.7% |
| Financial debts | 43 | - | €22,752 | +€22,752 | |
| Credit institutions | 430/8 | - | €22,752 | +€22,752 | |
| Trade debts | 44 | €273,078 | €532,464 | +€259,386 | +95.0% |
| Suppliers | 440/4 | €273,078 | €532,464 | +€259,386 | +95.0% |
| Taxes, remuneration and social security | 45 | €184,344 | €54,747 | -€129,597 | -70.3% |
| Taxes | 450/3 | €64,801 | €7,227 | -€57,574 | -88.8% |
| Remuneration and social security | 454/9 | €119,543 | €47,520 | -€72,023 | -60.2% |
| Other amounts payable | 47/48 | €530,042 | €384,169 | -€145,873 | -27.5% |
| Accrued charges and deferred income | 492/3 | €39,320 | €54,719 | +€15,398 | +39.2% |
| Non-recurring operating income | 76A | €108 | €0 | -€108 | -100% |
| Remuneration, social security and pensions | 62 | €323,176 | €336,296 | +€13,120 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,356 | €2,266 | +€910 | +67.1% |
| Other operating charges | 640/8 | €3,109 | €704 | -€2,405 | -77.4% |
| Non-recurring operating charges | 66A | €917 | €20,110 | +€19,193 | +2,093% |
| Gross operating margin | 9900 | €404,376 | €406,840 | +€2,464 | +0.6% |
| Operating profit (loss) | 9901 | €75,818 | €47,465 | -€28,353 | -37.4% |
| Financial income | 75/76B | €12 | €0 | -€12 | -99.9% |
| Recurring financial income | 75 | €12 | €0 | -€12 | -99.9% |
| Financial charges | 65/66B | €53,343 | €44,222 | -€9,122 | -17.1% |
| Recurring financial charges | 65 | €53,343 | €44,222 | -€9,122 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €22,487 | €3,243 | -€19,243 | -85.6% |
| Income taxes | 67/77 | €2,969 | €767 | -€2,203 | -74.2% |
| Profit (loss) for the period | 9904 | €19,517 | €2,477 | -€17,041 | -87.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,517 | €2,477 | -€17,041 | -87.3% |
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 23 October 2026 via checked.be.