V3 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.
V3 PROJECTS
Largest movements
- Receivables within one year -€200,827
down €200,827 (-39.4%), from €509,318 to €308,491
- Cash -€99,998
down €99,998 (-99.9%), from €100,100 to €102
mainly Debts within one year (-€254,880) and Net result for the year (-€41,766)
- Debts within one year -€254,880
down €254,880 (-21.5%), from €1.2m to €933,157
- Profit (loss) carried forward -€41,766
down €41,766 (-10.1%), from -€413,881 to -€455,647
- Gross operating margin +€191,101
up €191,101 (+84.6%), from -€225,756 to -€34,655
From the 2019 result to the 2020 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 2019 and 2020 balance sheets and the 2020 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2019 | 2020 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €792,756 | €496,110 | -€296,646 | -37.4% |
| Formation expenses | 20 | €533 | - | -€533 | |
| Fixed assets | 21/28 | €2,197 | €6,909 | +€4,712 | +214.5% |
| Tangible fixed assets | 22/27 | €2,197 | €1,509 | -€688 | -31.3% |
| Financial fixed assets | 28 | - | €5,400 | +€5,400 | |
| Current assets | 29/58 | €790,026 | €489,201 | -€300,825 | -38.1% |
| Stocks and contracts in progress | 3 | €180,608 | €180,608 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €509,318 | €308,491 | -€200,827 | -39.4% |
| Cash at bank and in hand | 54/58 | €100,100 | €102 | -€99,998 | -99.9% |
| Total equity and liabilities | 10/49 | €792,756 | €496,110 | -€296,646 | -37.4% |
| Equity | 10/15 | -€395,281 | -€437,047 | -€41,766 | -10.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€413,881 | -€455,647 | -€41,766 | -10.1% |
| Amounts payable | 17/49 | €1,188,037 | €933,157 | -€254,880 | -21.5% |
| Amounts payable within one year | 42/48 | €1,188,037 | €933,157 | -€254,880 | -21.5% |
| Trade debts | 44 | €45,888 | €44,546 | -€1,342 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,221 | +€1,221 | |
| Gross operating margin | 9900 | -€225,756 | -€34,655 | +€191,101 | +84.6% |
| Operating profit (loss) | 9901 | -€233,104 | -€35,876 | +€197,228 | +84.6% |
| Recurring financial income | 75 | €1,914 | - | -€1,914 | |
| Recurring financial charges | 65 | €4,870 | €5,890 | +€1,020 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | -€235,320 | -€41,766 | +€193,554 | +82.3% |
| Profit (loss) for the period | 9904 | -€235,320 | -€41,766 | +€193,554 | +82.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€235,320 | -€41,766 | +€193,554 | +82.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2019 and 31 December 2020. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.