URBAN 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.
URBAN PROJECTS
Largest movements
- Cash +€25,576
up €25,576 (+270%), from €9,467 to €35,044
mainly Depreciation (+€27,237) and Accrued charges and deferred income (+€1,954)
- Tangible fixed assets -€23,156
down €23,156 (-7.4%), from €311,865 to €288,709
of which Land and buildings: -€22,813
- Profit (loss) carried forward +€7,086
up €7,086 (+17.9%), from €39,622 to €46,708
- Reserves -€5,147
down €5,147 (-10.6%), from €48,563 to €43,415
of which Tax-exempt reserves: -€5,147
- Depreciation -€7,741
down €7,741 (-22.1%), from €34,977 to €27,237
- Taxes +€1,655
new in 2025: €1,655
- Financial charges +€1,200
up €1,200 (+17.8%), from €6,762 to €7,962
- Gross operating margin +€1,065
up €1,065 (+2.8%), from €38,131 to €39,196
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.
Derived cash bridge
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 | €326,024 | €327,728 | +€1,703 | +0.5% |
| Fixed assets | 21/28 | €311,865 | €288,709 | -€23,156 | -7.4% |
| Tangible fixed assets | 22/27 | €311,865 | €288,709 | -€23,156 | -7.4% |
| Land and buildings | 22 | €307,870 | €285,058 | -€22,813 | -7.4% |
| Furniture and vehicles | 24 | €3,995 | €3,652 | -€343 | -8.6% |
| Current assets | 29/58 | €14,159 | €39,019 | +€24,859 | +176% |
| Amounts receivable within one year | 40/41 | €3,509 | €2,734 | -€775 | -22.1% |
| Trade receivables | 40 | €3,499 | €2,724 | -€775 | -22.1% |
| Other amounts receivable | 41 | €9 | €9 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,467 | €35,044 | +€25,576 | +270% |
| Deferred charges and accrued income | 490/1 | €1,183 | €1,241 | +€58 | +4.9% |
| Total equity and liabilities | 10/49 | €326,024 | €327,728 | +€1,703 | +0.5% |
| Equity | 10/15 | €188,185 | €190,123 | +€1,938 | +1.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €48,563 | €43,415 | -€5,147 | -10.6% |
| Tax-exempt reserves | 132 | €25,736 | €20,589 | -€5,147 | -20.0% |
| Distributable reserves | 133 | €22,827 | €22,827 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,622 | €46,708 | +€7,086 | +17.9% |
| Provisions and deferred taxes | 16 | €8,579 | €6,863 | -€1,716 | -20.0% |
| Deferred taxes | 168 | €8,579 | €6,863 | -€1,716 | -20.0% |
| Amounts payable | 17/49 | €129,261 | €130,742 | +€1,481 | +1.1% |
| Amounts payable within one year | 42/48 | €122,549 | €122,076 | -€473 | -0.4% |
| Trade debts | 44 | €6,809 | €6,707 | -€101 | -1.5% |
| Suppliers | 440/4 | €6,809 | €6,707 | -€101 | -1.5% |
| Taxes, remuneration and social security | 45 | €2,654 | €4,274 | +€1,619 | +61.0% |
| Taxes | 450/3 | €2,654 | €4,274 | +€1,619 | +61.0% |
| Other amounts payable | 47/48 | €113,086 | €111,095 | -€1,991 | -1.8% |
| Accrued charges and deferred income | 492/3 | €6,712 | €8,666 | +€1,954 | +29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,977 | €27,237 | -€7,741 | -22.1% |
| Other operating charges | 640/8 | €2,479 | €2,120 | -€360 | -14.5% |
| Gross operating margin | 9900 | €38,131 | €39,196 | +€1,065 | +2.8% |
| Operating profit (loss) | 9901 | €674 | €9,839 | +€9,165 | +1,360% |
| Financial income | 75/76B | €36 | €1 | -€35 | -97.6% |
| Recurring financial income | 75 | €36 | €1 | -€35 | -97.6% |
| Financial charges | 65/66B | €6,762 | €7,962 | +€1,200 | +17.8% |
| Recurring financial charges | 65 | €6,762 | €7,962 | +€1,200 | +17.8% |
| Profit (loss) for the period before taxes | 9903 | -€6,052 | €1,878 | +€7,930 | |
| Transfer from deferred taxes | 780 | €1,716 | €1,716 | = | 0.0% |
| Income taxes | 67/77 | - | €1,655 | +€1,655 | |
| Profit (loss) for the period | 9904 | -€4,336 | €1,938 | +€6,275 | |
| Transfer from tax-exempt reserves | 789 | €5,147 | €5,147 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €811 | €7,086 | +€6,275 | +774% |
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 24 October 2026 via checked.be.