The Grand 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 Grand Projects
Largest movements
- Cash -€604
down €604 (-34.0%), from €1,774 to €1,170
- Debts within one year -€434
down €434 (-11.1%), from €3,913 to €3,479
- Profit (loss) carried forward -€170
down €170 (-7.9%), from -€2,139 to -€2,309
- Purchases and services +€4,270
up €4,270 (+48.6%), from €8,788 to €13,058
- Turnover +€3,518
up €3,518 (+37.6%), from €9,350 to €12,868
- Gross operating margin -€752
down €752, from €562 to -€190
- Other operating charges +€259
up €259 (+165%), from €157 to €416
From the 2021 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2021 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,774 | €1,170 | -€604 | -34.0% |
| Current assets | 29/58 | €1,774 | €1,170 | -€604 | -34.0% |
| Cash at bank and in hand | 54/58 | €1,774 | €1,170 | -€604 | -34.0% |
| Total equity and liabilities | 10/49 | €1,774 | €1,170 | -€604 | -34.0% |
| Equity | 10/15 | -€2,139 | -€2,309 | -€170 | -7.9% |
| Profit (loss) carried forward | 14 | -€2,139 | -€2,309 | -€170 | -7.9% |
| Amounts payable | 17/49 | €3,913 | €3,479 | -€434 | -11.1% |
| Amounts payable within one year | 42/48 | €3,913 | €3,479 | -€434 | -11.1% |
| Trade debts | 44 | €845 | €411 | -€434 | -51.4% |
| Suppliers | 440/4 | €845 | €411 | -€434 | -51.4% |
| Turnover | 70 | €9,350 | €12,868 | +€3,518 | +37.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €8,788 | €13,058 | +€4,270 | +48.6% |
| Other operating charges | 640/8 | €157 | €416 | +€259 | +165% |
| Gross operating margin | 9900 | €562 | -€190 | -€752 | |
| Operating profit (loss) | 9901 | €405 | -€606 | -€1,011 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €69 | €76 | +€7 | +10.1% |
| Recurring financial charges | 65 | €69 | €76 | +€7 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €336 | -€681 | -€1,017 | |
| Profit (loss) for the period | 9904 | €336 | -€681 | -€1,017 | |
| Profit (loss) for the period to be appropriated | 9905 | €336 | -€681 | -€1,017 |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.