THE PROJECT ENGINEERING COMPANY: what changed
What changed
THE PROJECT ENGINEERING COMPANY
NACE 61.100, Wired, wireless and satellite telecommunications
filed annual accounts (NBB)
Net result for the year
€24,584
2024 · €25,301-€717
Equity
€42,988
2024 · €114,023-€71,035
Cash
€47,270
2024 · €2,694+€44,576
Balance sheet total
€149,268
2024 · €128,815+€20,454
Largest movements
Assets
- Cash +€44,576
up €44,576 (+1,654%), from €2,694 to €47,270
mainly Other debts (+€82,710) and Net result for the year (+€24,584)
- Receivables within one year -€22,633
down €22,633 (-46.7%), from €48,425 to €25,792
of which Trade receivables: -€12,173
Equity and liabilities
- Other debts +€82,710
up €82,710 (+1,199%), from €6,897 to €89,607
- Reserves -€71,035
down €71,035 (-62.3%), from €114,023 to €42,988
- Tax, wage and social debts +€7,260
up €7,260 (+170%), from €4,275 to €11,535
- Trade debts +€1,713
up €1,713 (+54.1%), from €3,168 to €4,881
Income statement
- Gross operating margin -€14,705
down €14,705 (-29.1%), from €50,518 to €35,813
- Other operating charges -€663
down €663 (-71.3%), from €929 to €267
- Taxes +€579
up €579 (+6.5%), from €8,973 to €9,552
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€25,301
Gross operating margin
-€14,705
Depreciation
+€296
Other operating charges
+€663
Other operating items
+€13,358
Financial income
-€80
Financial charges
+€329
Taxes
-€579
Result 2025
€24,584
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€141,898
Investment
-€1,704
Financing
-€95,619
Cash 2024
€2,694
From operations (derived)
+€141,898
Net result for the year
+€24,584
Depreciation
+€3,061
Receivables within one year
+€22,633
Smaller working-capital items
-€61
Trade debts
+€1,713
Tax, wage and social debts
+€7,260
Other debts
+€82,710
Investment (derived)
-€1,704
Investment in fixed assets (net)
-€1,704
Financing
-€95,619
Contributions, distributions and other
-€95,619
Cash 2025
€47,270
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €128,815 | €149,268 | +€20,454 | +15.9% |
| Fixed assets | 21/28 | €4,436 | €3,079 | -€1,357 | -30.6% |
| Tangible fixed assets | 22/27 | €4,355 | €2,998 | -€1,357 | -31.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €4,355 | €2,998 | -€1,357 | -31.2% |
| Financial fixed assets | 28 | €81 | €81 | = | 0.0% |
| Current assets | 29/58 | €124,379 | €146,189 | +€21,810 | +17.5% |
| Amounts receivable after more than one year | 29 | €72,147 | €72,147 | = | 0.0% |
| Other amounts receivable | 291 | €72,147 | €72,147 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €48,425 | €25,792 | -€22,633 | -46.7% |
| Trade receivables | 40 | €32,501 | €20,328 | -€12,173 | -37.5% |
| Other amounts receivable | 41 | €15,924 | €5,464 | -€10,461 | -65.7% |
| Cash at bank and in hand | 54/58 | €2,694 | €47,270 | +€44,576 | +1,654% |
| Deferred charges and accrued income | 490/1 | €1,113 | €981 | -€132 | -11.9% |
| Total equity and liabilities | 10/49 | €128,815 | €149,268 | +€20,454 | +15.9% |
| Equity | 10/15 | €114,023 | €42,988 | -€71,035 | -62.3% |
| Reserves | 13 | €114,023 | €42,988 | -€71,035 | -62.3% |
| Distributable reserves | 133 | €114,023 | €42,988 | -€71,035 | -62.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €14,792 | €106,281 | +€91,489 | +618% |
| Amounts payable within one year | 42/48 | €14,340 | €106,022 | +€91,682 | +639% |
| Trade debts | 44 | €3,168 | €4,881 | +€1,713 | +54.1% |
| Suppliers | 440/4 | €3,168 | €4,881 | +€1,713 | +54.1% |
| Taxes, remuneration and social security | 45 | €4,275 | €11,535 | +€7,260 | +170% |
| Taxes | 450/3 | €4,275 | €11,535 | +€7,260 | +170% |
| Other amounts payable | 47/48 | €6,897 | €89,607 | +€82,710 | +1,199% |
| Accrued charges and deferred income | 492/3 | €452 | €258 | -€193 | -42.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,357 | €3,061 | -€296 | -8.8% |
| Other operating charges | 640/8 | €929 | €267 | -€663 | -71.3% |
| Non-recurring operating charges | 66A | €13,358 | €0 | -€13,358 | -100% |
| Gross operating margin | 9900 | €50,518 | €35,813 | -€14,705 | -29.1% |
| Operating profit (loss) | 9901 | €32,874 | €32,486 | -€387 | -1.2% |
| Financial income | 75/76B | €2,064 | €1,984 | -€80 | -3.9% |
| Recurring financial income | 75 | €2,064 | €1,984 | -€80 | -3.9% |
| Financial charges | 65/66B | €663 | €334 | -€329 | -49.6% |
| Recurring financial charges | 65 | €663 | €334 | -€329 | -49.6% |
| Profit (loss) for the period before taxes | 9903 | €34,274 | €34,136 | -€138 | -0.4% |
| Income taxes | 67/77 | €8,973 | €9,552 | +€579 | +6.5% |
| Profit (loss) for the period | 9904 | €25,301 | €24,584 | -€717 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,301 | €24,584 | -€717 | -2.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.