THE PROJECT GOLD MINE: what changed
THE PROJECT GOLD MINE
Largest movements
- Receivables within one year -€22,790
down €22,790 (-74.4%), from €30,627 to €7,837
of which Trade receivables: -€24,959
- Current investments +€22,494
up €22,494 (+7.3%), from €307,027 to €329,521
- Deferred charges and accrued income +€10,261
up €10,261 (+250%), from €4,101 to €14,361
- Cash +€7,730
up €7,730 (+4.8%), from €162,687 to €170,417
mainly Other debts (+€200,709) and Receivables within one year (+€22,790)
- Tangible fixed assets -€6,986
down €6,986 (-6.9%), from €101,472 to €94,486
of which Land and buildings: -€8,247
- Other debts +€200,709
up €200,709 (+8,667%), from €2,316 to €203,025
- Reserves -€189,048
down €189,048 (-34.4%), from €550,201 to €361,153
- Gross operating margin -€84,713
down €84,713 (-65.8%), from €128,798 to €44,085
- Taxes -€28,449
down €28,449 (-78.3%), from €36,338 to €7,889
- Financial income -€15,642
down €15,642 (-62.9%), from €24,858 to €9,216
of which Financial income: -€12,942
- Other operating charges +€2,088
up €2,088 (+26.5%), from €7,888 to €9,977
- Depreciation +€1,833
up €1,833 (+14.8%), from €12,416 to €14,249
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €607,697 | €618,406 | +€10,709 | +1.8% |
| Fixed assets | 21/28 | €103,255 | €96,269 | -€6,986 | -6.8% |
| Tangible fixed assets | 22/27 | €101,472 | €94,486 | -€6,986 | -6.9% |
| Land and buildings | 22 | €86,912 | €78,665 | -€8,247 | -9.5% |
| Furniture and vehicles | 24 | €14,560 | €15,821 | +€1,261 | +8.7% |
| Financial fixed assets | 28 | €1,783 | €1,783 | = | 0.0% |
| Current assets | 29/58 | €504,442 | €522,137 | +€17,695 | +3.5% |
| Amounts receivable within one year | 40/41 | €30,627 | €7,837 | -€22,790 | -74.4% |
| Trade receivables | 40 | €30,627 | €5,668 | -€24,959 | -81.5% |
| Other amounts receivable | 41 | - | €2,169 | +€2,169 | |
| Current investments | 50/53 | €307,027 | €329,521 | +€22,494 | +7.3% |
| Cash at bank and in hand | 54/58 | €162,687 | €170,417 | +€7,730 | +4.8% |
| Deferred charges and accrued income | 490/1 | €4,101 | €14,361 | +€10,261 | +250% |
| Total equity and liabilities | 10/49 | €607,697 | €618,406 | +€10,709 | +1.8% |
| Equity | 10/15 | €587,241 | €398,198 | -€189,043 | -32.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €550,201 | €361,153 | -€189,048 | -34.4% |
| Distributable reserves | 133 | €550,201 | €361,153 | -€189,048 | -34.4% |
| Profit (loss) carried forward | 14 | €18,440 | €18,445 | +€5 | 0.0% |
| Amounts payable | 17/49 | €20,456 | €220,208 | +€199,752 | +976% |
| Amounts payable within one year | 42/48 | €19,889 | €219,901 | +€200,012 | +1,006% |
| Trade debts | 44 | €348 | €4,539 | +€4,191 | +1,205% |
| Suppliers | 440/4 | €348 | €4,539 | +€4,191 | +1,205% |
| Taxes, remuneration and social security | 45 | €17,225 | €12,337 | -€4,888 | -28.4% |
| Taxes | 450/3 | €17,225 | €12,337 | -€4,888 | -28.4% |
| Other amounts payable | 47/48 | €2,316 | €203,025 | +€200,709 | +8,667% |
| Accrued charges and deferred income | 492/3 | €568 | €308 | -€260 | -45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,416 | €14,249 | +€1,833 | +14.8% |
| Other operating charges | 640/8 | €7,888 | €9,977 | +€2,088 | +26.5% |
| Gross operating margin | 9900 | €128,798 | €44,085 | -€84,713 | -65.8% |
| Operating profit (loss) | 9901 | €108,494 | €19,860 | -€88,634 | -81.7% |
| Financial income | 75/76B | €24,858 | €9,216 | -€15,642 | -62.9% |
| Recurring financial income | 75 | €22,158 | €9,216 | -€12,942 | -58.4% |
| Non-recurring financial income | 76B | €2,700 | - | -€2,700 | |
| Financial charges | 65/66B | €164 | €872 | +€708 | +433% |
| Recurring financial charges | 65 | €164 | €872 | +€708 | +433% |
| Profit (loss) for the period before taxes | 9903 | €133,188 | €28,204 | -€104,984 | -78.8% |
| Income taxes | 67/77 | €36,338 | €7,889 | -€28,449 | -78.3% |
| Profit (loss) for the period | 9904 | €96,850 | €20,315 | -€76,535 | -79.0% |
| Profit (loss) for the period to be appropriated | 9905 | €96,850 | €20,315 | -€76,535 | -79.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.