TOTAL PROJECT SOLUTIONS: what changed
Two fiscal 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.
TOTAL PROJECT SOLUTIONS
Largest movements
- Receivables within one year -€154,273
down €154,273 (-61.7%), from €250,141 to €95,868
of which Trade receivables: -€176,395
- Deferred charges and accrued income +€87,424
up €87,424 (+5468.6%), from €1,599 to €89,023
- Tangible fixed assets -€24,763
down €24,763 (-11.2%), from €220,804 to €196,040
of which Land and buildings: -€21,450
- Other debts -€59,744
no longer reported in 2025 (was €59,744)
- Current portion of long-term debt -€16,437
no longer reported in 2025 (was €16,437)
- Profit (loss) carried forward -€8,597
down €8,597 (-4.6%), from €188,419 to €179,822
- Tax, wage and social debts -€6,372
down €6,372 (-31.5%), from €20,218 to €13,846
- Accrued charges and deferred income +€6,257
up €6,257 (+834.3%), from €750 to €7,007
- Gross operating margin -€53,544
down €53,544 (-54.6%), from €98,040 to €44,496
- Taxes -€24,915
down €24,915 (-76.5%), from €32,570 to €7,655
- Write-downs +€17,436
new in 2025: €17,436
- Other operating charges -€11,225
down €11,225 (-75.8%), from €14,816 to €3,591
- Staff costs -€10,130
down €10,130 (-82.3%), from €12,311 to €2,181
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 | €489,875 | €400,785 | -€89,091 | -18.2% |
| Fixed assets | 21/28 | €220,854 | €196,090 | -€24,763 | -11.2% |
| Tangible fixed assets | 22/27 | €220,804 | €196,040 | -€24,763 | -11.2% |
| Land and buildings | 22 | €205,897 | €184,447 | -€21,450 | -10.4% |
| Plant, machinery and equipment | 23 | €302 | €242 | -€60 | -19.8% |
| Furniture and vehicles | 24 | €7,761 | €4,508 | -€3,253 | -41.9% |
| Other tangible fixed assets | 26 | €6,844 | €6,844 | = | 0.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €269,022 | €204,694 | -€64,327 | -23.9% |
| Amounts receivable within one year | 40/41 | €250,141 | €95,868 | -€154,273 | -61.7% |
| Trade receivables | 40 | €241,147 | €64,752 | -€176,395 | -73.1% |
| Other amounts receivable | 41 | €8,994 | €31,115 | +€22,122 | +246.0% |
| Cash at bank and in hand | 54/58 | €17,282 | €19,804 | +€2,522 | +14.6% |
| Deferred charges and accrued income | 490/1 | €1,599 | €89,023 | +€87,424 | +5468.6% |
| Total equity and liabilities | 10/49 | €489,875 | €400,785 | -€89,091 | -18.2% |
| Equity | 10/15 | €269,905 | €261,308 | -€8,597 | -3.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €19,512 | €19,512 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,230 | €10,230 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,230 | €10,230 | = | 0.0% |
| Distributable reserves | 133 | €9,283 | €9,283 | = | 0.0% |
| Profit (loss) carried forward | 14 | €188,419 | €179,822 | -€8,597 | -4.6% |
| Provisions and deferred taxes | 16 | €113,675 | €113,675 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €113,675 | €113,675 | = | 0.0% |
| Pensions and similar obligations | 160 | €113,675 | €113,675 | = | 0.0% |
| Amounts payable | 17/49 | €106,296 | €25,802 | -€80,494 | -75.7% |
| Amounts payable within one year | 42/48 | €105,546 | €18,795 | -€86,751 | -82.2% |
| Current portion of amounts payable after more than one year | 42 | €16,437 | - | -€16,437 | |
| Trade debts | 44 | €9,147 | €4,949 | -€4,198 | -45.9% |
| Suppliers | 440/4 | €9,147 | €4,949 | -€4,198 | -45.9% |
| Taxes, remuneration and social security | 45 | €20,218 | €13,846 | -€6,372 | -31.5% |
| Taxes | 450/3 | €20,218 | €13,846 | -€6,372 | -31.5% |
| Other amounts payable | 47/48 | €59,744 | - | -€59,744 | |
| Accrued charges and deferred income | 492/3 | €750 | €7,007 | +€6,257 | +834.3% |
| Remuneration, social security and pensions | 62 | €12,311 | €2,181 | -€10,130 | -82.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,232 | €21,750 | +€1,518 | +7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €17,436 | +€17,436 | |
| Other operating charges | 640/8 | €14,816 | €3,591 | -€11,225 | -75.8% |
| Gross operating margin | 9900 | €98,040 | €44,496 | -€53,544 | -54.6% |
| Operating profit (loss) | 9901 | €50,681 | -€461 | -€51,142 | |
| Financial income | 75/76B | €0 | €23 | +€23 | +227900.0% |
| Recurring financial income | 75 | €0 | €23 | +€23 | +227900.0% |
| Financial charges | 65/66B | €1,156 | €504 | -€652 | -56.4% |
| Recurring financial charges | 65 | €1,156 | €504 | -€652 | -56.4% |
| Profit (loss) for the period before taxes | 9903 | €49,525 | -€942 | -€50,468 | |
| Income taxes | 67/77 | €32,570 | €7,655 | -€24,915 | -76.5% |
| Profit (loss) for the period | 9904 | €16,956 | -€8,597 | -€25,552 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,956 | -€8,597 | -€25,552 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.