V²-PROJECTS: 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.
V²-PROJECTS
Largest movements
- Cash +€9,851
up €9,851 (+118.2%), from €8,336 to €18,187
mainly Net result for the year (+€18,968) and Depreciation (+€9,009)
- Tangible fixed assets -€9,009
down €9,009 (-34.1%), from €26,429 to €17,420
of which Leasing and similar rights: -€7,536
- Receivables within one year -€1,160
down €1,160 (-2.9%), from €39,929 to €38,769
of which Trade receivables: -€1,160
- Reserves +€12,584
up €12,584 (+6589.3%), from €191 to €12,775
- Other debts -€10,704
down €10,704 (-21.9%), from €48,939 to €38,235
- Debts after one year -€6,166
down €6,166 (-48.7%), from €12,650 to €6,484
- Profit (loss) carried forward +€5,525
up €5,525, from -€5,525 to €0
- Trade debts -€2,157
down €2,157 (-64.9%), from €3,325 to €1,168
- Gross operating margin +€5,363
up €5,363 (+17.2%), from €31,170 to €36,533
- Taxes +€5,322
up €5,322 (+1766.8%), from €301 to €5,623
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 | €79,127 | €78,323 | -€804 | -1.0% |
| Fixed assets | 21/28 | €26,439 | €17,430 | -€9,009 | -34.1% |
| Tangible fixed assets | 22/27 | €26,429 | €17,420 | -€9,009 | -34.1% |
| Furniture and vehicles | 24 | €3,830 | €2,356 | -€1,474 | -38.5% |
| Leasing and similar rights | 25 | €22,599 | €15,063 | -€7,536 | -33.3% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €52,688 | €60,894 | +€8,206 | +15.6% |
| Amounts receivable within one year | 40/41 | €39,929 | €38,769 | -€1,160 | -2.9% |
| Trade receivables | 40 | €39,880 | €38,720 | -€1,160 | -2.9% |
| Other amounts receivable | 41 | €49 | €49 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,336 | €18,187 | +€9,851 | +118.2% |
| Deferred charges and accrued income | 490/1 | €4,423 | €3,938 | -€485 | -11.0% |
| Total equity and liabilities | 10/49 | €79,127 | €78,323 | -€804 | -1.0% |
| Equity | 10/15 | €866 | €18,975 | +€18,109 | +2091.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €191 | €12,775 | +€12,584 | +6589.3% |
| Distributable reserves | 133 | €191 | €12,775 | +€12,584 | +6589.3% |
| Profit (loss) carried forward | 14 | -€5,525 | €0 | +€5,525 | |
| Amounts payable | 17/49 | €78,261 | €59,349 | -€18,912 | -24.2% |
| Amounts payable after more than one year | 17 | €12,650 | €6,484 | -€6,166 | -48.7% |
| Financial debts | 170/4 | €12,650 | €6,484 | -€6,166 | -48.7% |
| Amounts payable within one year | 42/48 | €65,611 | €52,865 | -€12,746 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €5,864 | €6,166 | +€302 | +5.2% |
| Trade debts | 44 | €3,325 | €1,168 | -€2,157 | -64.9% |
| Suppliers | 440/4 | €3,325 | €1,168 | -€2,157 | -64.9% |
| Taxes, remuneration and social security | 45 | €7,483 | €7,296 | -€187 | -2.5% |
| Taxes | 450/3 | €5,758 | €5,571 | -€187 | -3.2% |
| Remuneration and social security | 454/9 | €1,725 | €1,725 | = | 0.0% |
| Other amounts payable | 47/48 | €48,939 | €38,235 | -€10,704 | -21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,009 | €9,009 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,467 | €1,538 | +€71 | +4.8% |
| Gross operating margin | 9900 | €31,170 | €36,533 | +€5,363 | +17.2% |
| Operating profit (loss) | 9901 | €20,694 | €25,986 | +€5,292 | +25.6% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €1,569 | €1,395 | -€174 | -11.1% |
| Recurring financial charges | 65 | €1,569 | €1,395 | -€174 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €19,126 | €24,591 | +€5,465 | +28.6% |
| Income taxes | 67/77 | €301 | €5,623 | +€5,322 | +1766.8% |
| Profit (loss) for the period | 9904 | €18,825 | €18,968 | +€143 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,825 | €18,968 | +€143 | +0.8% |
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 8 October 2026 via checked.be.