THE BIG 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.
THE BIG PROJECTS
Largest movements
- Cash +€24,230
up €24,230 (+38.1%), from €63,629 to €87,859
mainly Other debts (+€82,516) and Net result for the year (+€41,538)
- Other debts +€82,516
up €82,516 (+19742.1%), from €418 to €82,934
- Profit (loss) carried forward -€40,815
down €40,815 (-77.0%), from €53,018 to €12,203
- Tax, wage and social debts -€18,566
no longer reported in 2025 (was €18,566)
- Gross operating margin -€15,940
down €15,940 (-21.2%), from €75,219 to €59,279
- Taxes -€4,058
down €4,058 (-21.9%), from €18,566 to €14,508
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 | €100,369 | €124,409 | +€24,040 | +24.0% |
| Fixed assets | 21/28 | €4,504 | €4,240 | -€263 | -5.8% |
| Tangible fixed assets | 22/27 | €4,504 | €4,240 | -€263 | -5.8% |
| Furniture and vehicles | 24 | €4,504 | €4,240 | -€263 | -5.8% |
| Current assets | 29/58 | €95,865 | €120,169 | +€24,303 | +25.4% |
| Amounts receivable within one year | 40/41 | €31,964 | €32,037 | +€73 | +0.2% |
| Trade receivables | 40 | €31,300 | €27,200 | -€4,100 | -13.1% |
| Other amounts receivable | 41 | €664 | €4,837 | +€4,173 | +628.8% |
| Cash at bank and in hand | 54/58 | €63,629 | €87,859 | +€24,230 | +38.1% |
| Deferred charges and accrued income | 490/1 | €273 | €273 | = | 0.0% |
| Total equity and liabilities | 10/49 | €100,369 | €124,409 | +€24,040 | +24.0% |
| Equity | 10/15 | €78,774 | €37,959 | -€40,815 | -51.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €22,756 | €22,756 | = | 0.0% |
| Distributable reserves | 133 | €22,756 | €22,756 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,018 | €12,203 | -€40,815 | -77.0% |
| Amounts payable | 17/49 | €21,595 | €86,450 | +€64,855 | +300.3% |
| Amounts payable within one year | 42/48 | €21,595 | €86,450 | +€64,855 | +300.3% |
| Trade debts | 44 | €2,611 | €3,516 | +€905 | +34.7% |
| Suppliers | 440/4 | €2,611 | €3,516 | +€905 | +34.7% |
| Taxes, remuneration and social security | 45 | €18,566 | - | -€18,566 | |
| Taxes | 450/3 | €18,566 | - | -€18,566 | |
| Other amounts payable | 47/48 | €418 | €82,934 | +€82,516 | +19742.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,366 | €2,164 | -€202 | -8.5% |
| Other operating charges | 640/8 | €1,116 | €830 | -€286 | -25.6% |
| Gross operating margin | 9900 | €75,219 | €59,279 | -€15,940 | -21.2% |
| Operating profit (loss) | 9901 | €71,737 | €56,284 | -€15,453 | -21.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €153 | €238 | +€86 | +56.2% |
| Recurring financial charges | 65 | €153 | €238 | +€86 | +56.2% |
| Profit (loss) for the period before taxes | 9903 | €71,584 | €56,046 | -€15,538 | -21.7% |
| Income taxes | 67/77 | €18,566 | €14,508 | -€4,058 | -21.9% |
| Profit (loss) for the period | 9904 | €53,018 | €41,538 | -€11,480 | -21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €53,018 | €41,538 | -€11,480 | -21.7% |
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 11 October 2026 via checked.be.