€urobel Projet: 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.
€urobel Projet
Largest movements
- Receivables within one year -€73,346
down €73,346 (-16.3%), from €448,631 to €375,285
of which Trade receivables: -€69,607
- Cash +€9,254
new in 2025: €9,254
mainly Receivables within one year (+€73,346) and Net result for the year (+€29,928)
- Trade debts -€44,167
down €44,167 (-23.8%), from €185,435 to €141,268
- Profit (loss) carried forward +€29,928
up €29,928 (+32.9%), from €91,021 to €120,949
- Short-term financial debts -€18,466
no longer reported in 2025 (was €18,466)
- Other debts -€18,277
down €18,277 (-43.0%), from €42,514 to €24,237
- Debts after one year -€7,153
down €7,153 (-5.4%), from €132,153 to €125,000
- Gross operating margin +€77,430
up €77,430 (+200%), from €38,710 to €116,140
- Staff costs -€10,948
down €10,948 (-21.7%), from €50,375 to €39,427
- Write-downs -€10,010
down €10,010 (-40.4%), from €24,803 to €14,793
- Financial charges -€7,003
down €7,003 (-52.2%), from €13,428 to €6,425
- Other operating charges -€2,148
down €2,148 (-58.1%), from €3,694 to €1,546
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 | €510,572 | €449,286 | -€61,286 | -12.0% |
| Fixed assets | 21/28 | €29,111 | €26,853 | -€2,258 | -7.8% |
| Tangible fixed assets | 22/27 | €25,496 | €23,238 | -€2,258 | -8.9% |
| Plant, machinery and equipment | 23 | €6,147 | €14,875 | +€8,728 | +142% |
| Furniture and vehicles | 24 | €19,349 | €8,363 | -€10,986 | -56.8% |
| Financial fixed assets | 28 | €3,615 | €3,615 | = | 0.0% |
| Current assets | 29/58 | €481,461 | €422,433 | -€59,028 | -12.3% |
| Stocks and contracts in progress | 3 | €27,590 | €32,305 | +€4,715 | +17.1% |
| Stocks | 30/36 | €27,590 | €32,305 | +€4,715 | +17.1% |
| Amounts receivable within one year | 40/41 | €448,631 | €375,285 | -€73,346 | -16.3% |
| Trade receivables | 40 | €439,438 | €369,831 | -€69,607 | -15.8% |
| Other amounts receivable | 41 | €9,193 | €5,454 | -€3,739 | -40.7% |
| Cash at bank and in hand | 54/58 | - | €9,254 | +€9,254 | |
| Deferred charges and accrued income | 490/1 | €5,240 | €5,589 | +€349 | +6.7% |
| Total equity and liabilities | 10/49 | €510,572 | €449,286 | -€61,286 | -12.0% |
| Equity | 10/15 | €111,472 | €141,400 | +€29,928 | +26.8% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Contributions outside capital | 11 | €20,451 | €20,451 | = | 0.0% |
| Other | 1109/19 | €20,451 | €20,451 | = | 0.0% |
| Profit (loss) carried forward | 14 | €91,021 | €120,949 | +€29,928 | +32.9% |
| Amounts payable | 17/49 | €399,100 | €307,886 | -€91,214 | -22.9% |
| Amounts payable after more than one year | 17 | €132,153 | €125,000 | -€7,153 | -5.4% |
| Financial debts | 170/4 | €132,153 | €125,000 | -€7,153 | -5.4% |
| Amounts payable within one year | 42/48 | €266,947 | €182,886 | -€84,061 | -31.5% |
| Current portion of amounts payable after more than one year | 42 | €8,411 | €7,153 | -€1,258 | -15.0% |
| Financial debts | 43 | €18,466 | - | -€18,466 | |
| Credit institutions | 430/8 | €18,466 | - | -€18,466 | |
| Trade debts | 44 | €185,435 | €141,268 | -€44,167 | -23.8% |
| Suppliers | 440/4 | €185,435 | €141,268 | -€44,167 | -23.8% |
| Taxes, remuneration and social security | 45 | €12,121 | €10,228 | -€1,893 | -15.6% |
| Taxes | 450/3 | €4,424 | €3,310 | -€1,114 | -25.2% |
| Remuneration and social security | 454/9 | €7,697 | €6,918 | -€779 | -10.1% |
| Other amounts payable | 47/48 | €42,514 | €24,237 | -€18,277 | -43.0% |
| Remuneration, social security and pensions | 62 | €50,375 | €39,427 | -€10,948 | -21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,757 | €14,813 | +€1,056 | +7.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €24,803 | €14,793 | -€10,010 | -40.4% |
| Other operating charges | 640/8 | €3,694 | €1,546 | -€2,148 | -58.1% |
| Non-recurring operating charges | 66A | €5,954 | €9,583 | +€3,629 | +61.0% |
| Gross operating margin | 9900 | €38,710 | €116,140 | +€77,430 | +200% |
| Operating profit (loss) | 9901 | -€59,873 | €35,978 | +€95,851 | |
| Financial income | 75/76B | €1,883 | €748 | -€1,135 | -60.3% |
| Recurring financial income | 75 | €1,883 | €748 | -€1,135 | -60.3% |
| Financial charges | 65/66B | €13,428 | €6,425 | -€7,003 | -52.2% |
| Recurring financial charges | 65 | €13,428 | €6,425 | -€7,003 | -52.2% |
| Profit (loss) for the period before taxes | 9903 | -€71,418 | €30,301 | +€101,719 | |
| Income taxes | 67/77 | €794 | €373 | -€421 | -53.0% |
| Profit (loss) for the period | 9904 | -€72,212 | €29,928 | +€102,140 | |
| Profit (loss) for the period to be appropriated | 9905 | -€72,212 | €29,928 | +€102,140 |
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.