VALUE 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.
VALUE PROJECTS
Largest movements
- Tangible fixed assets +€236,742
up €236,742 (+82.3%), from €287,718 to €524,460
- Other debts +€251,379
up €251,379 (+117.1%), from €214,706 to €466,085
- Profit (loss) carried forward -€15,648
down €15,648 (-22.8%), from €68,511 to €52,863
- Gross operating margin -€35,291
down €35,291, from €20,741 to -€14,550
- Financial charges -€16,547
down €16,547 (-99.6%), from €16,619 to €72
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 | €290,290 | €525,413 | +€235,123 | +81.0% |
| Fixed assets | 21/28 | €287,718 | €524,460 | +€236,742 | +82.3% |
| Tangible fixed assets | 22/27 | €287,718 | €524,460 | +€236,742 | +82.3% |
| Assets under construction and advance payments | 27 | €287,718 | €524,460 | +€236,742 | +82.3% |
| Current assets | 29/58 | €2,572 | €953 | -€1,619 | -62.9% |
| Cash at bank and in hand | 54/58 | €2,572 | €911 | -€1,661 | -64.6% |
| Deferred charges and accrued income | 490/1 | - | €42 | +€42 | |
| Total equity and liabilities | 10/49 | €290,290 | €525,413 | +€235,123 | +81.0% |
| Equity | 10/15 | €74,916 | €59,268 | -€15,648 | -20.9% |
| Contributions | 10/11 | €6,405 | €6,405 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,511 | €52,863 | -€15,648 | -22.8% |
| Amounts payable | 17/49 | €215,374 | €466,145 | +€250,771 | +116.4% |
| Amounts payable within one year | 42/48 | €215,374 | €466,145 | +€250,771 | +116.4% |
| Trade debts | 44 | €668 | €60 | -€608 | -91.0% |
| Suppliers | 440/4 | €668 | €60 | -€608 | -91.0% |
| Other amounts payable | 47/48 | €214,706 | €466,085 | +€251,379 | +117.1% |
| Other operating charges | 640/8 | €1,235 | €1,028 | -€207 | -16.8% |
| Gross operating margin | 9900 | €20,741 | -€14,550 | -€35,291 | |
| Operating profit (loss) | 9901 | €19,506 | -€15,578 | -€35,084 | |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €16,619 | €72 | -€16,547 | -99.6% |
| Recurring financial charges | 65 | €16,619 | €72 | -€16,547 | -99.6% |
| Profit (loss) for the period before taxes | 9903 | €2,887 | -€15,648 | -€18,535 | |
| Profit (loss) for the period | 9904 | €2,887 | -€15,648 | -€18,535 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,887 | -€15,648 | -€18,535 |
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 12 October 2026 via checked.be.