Window Project: 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.
What changed
Window Project
NACE 25.120, Manufacture of fabricated metal products, except machinery and equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€50,611
2024 · €75,508-€24,897
Equity
€212,490
2024 · €161,879+€50,611
Cash
€41,573
2024 · €45,709-€4,137
Balance sheet total
€1.1m
2024 · €1.0m+€80,594
Largest movements
Assets
- Receivables within one year +€91,489
up €91,489 (+11.8%), from €772,666 to €864,155
of which Trade receivables: +€85,594
Equity and liabilities
- Profit (loss) carried forward +€50,611
up €50,611 (+92.8%), from -€54,521 to -€3,910
- Trade debts +€30,316
up €30,316 (+7.3%), from €413,337 to €443,653
Income statement
- Staff costs +€62,224
up €62,224 (+15.0%), from €415,955 to €478,179
- Gross operating margin +€34,144
up €34,144 (+6.4%), from €537,407 to €571,551
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.
Result 2024
€75,508
Gross operating margin
+€34,144
Staff costs
-€62,224
Depreciation
+€1,955
Other operating charges
-€1,223
Financial charges
+€2,452
Taxes
-€0
Result 2025
€50,611
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.
From operations
+€5,692
Investment
-€8,752
Financing
-€1,077
Cash 2024
€45,709
From operations (derived)
+€5,692
Net result for the year
+€50,611
Depreciation
+€15,978
Stocks and contracts
-€468
Receivables within one year
-€91,489
Trade debts
+€30,316
Tax, wage and social debts
+€744
Investment (derived)
-€8,752
Investment in fixed assets (net)
-€8,752
Financing
-€1,077
Current portion of long-term debt
-€1,077
Cash 2025
€41,573
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,007,270 | €1,087,864 | +€80,594 | +8.0% |
| Fixed assets | 21/28 | €37,756 | €30,531 | -€7,226 | -19.1% |
| Tangible fixed assets | 22/27 | €37,756 | €30,531 | -€7,226 | -19.1% |
| Land and buildings | 22 | €20,863 | €14,477 | -€6,386 | -30.6% |
| Plant, machinery and equipment | 23 | €6,534 | €11,163 | +€4,629 | +70.9% |
| Furniture and vehicles | 24 | €7,146 | €4,890 | -€2,256 | -31.6% |
| Leasing and similar rights | 25 | €3,213 | - | -€3,213 | |
| Current assets | 29/58 | €969,513 | €1,057,334 | +€87,820 | +9.1% |
| Stocks and contracts in progress | 3 | €151,138 | €151,606 | +€468 | +0.3% |
| Stocks | 30/36 | €151,138 | €151,606 | +€468 | +0.3% |
| Amounts receivable within one year | 40/41 | €772,666 | €864,155 | +€91,489 | +11.8% |
| Trade receivables | 40 | €760,319 | €845,913 | +€85,594 | +11.3% |
| Other amounts receivable | 41 | €12,348 | €18,243 | +€5,895 | +47.7% |
| Cash at bank and in hand | 54/58 | €45,709 | €41,573 | -€4,137 | -9.1% |
| Total equity and liabilities | 10/49 | €1,007,270 | €1,087,864 | +€80,594 | +8.0% |
| Equity | 10/15 | €161,879 | €212,490 | +€50,611 | +31.3% |
| Contributions | 10/11 | €214,000 | €214,000 | = | 0.0% |
| Reserves | 13 | €2,400 | €2,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,400 | €2,400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,400 | €2,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,521 | -€3,910 | +€50,611 | +92.8% |
| Amounts payable | 17/49 | €845,391 | €875,374 | +€29,983 | +3.5% |
| Amounts payable within one year | 42/48 | €845,391 | €875,374 | +€29,983 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €1,077 | - | -€1,077 | |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €413,337 | €443,653 | +€30,316 | +7.3% |
| Suppliers | 440/4 | €413,337 | €443,653 | +€30,316 | +7.3% |
| Taxes, remuneration and social security | 45 | - | €744 | +€744 | |
| Taxes | 450/3 | - | €744 | +€744 | |
| Other amounts payable | 47/48 | €280,978 | €280,978 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €415,955 | €478,179 | +€62,224 | +15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,933 | €15,978 | -€1,955 | -10.9% |
| Other operating charges | 640/8 | €2,299 | €3,522 | +€1,223 | +53.2% |
| Gross operating margin | 9900 | €537,407 | €571,551 | +€34,144 | +6.4% |
| Operating profit (loss) | 9901 | €101,220 | €73,872 | -€27,348 | -27.0% |
| Financial charges | 65/66B | €24,969 | €22,517 | -€2,452 | -9.8% |
| Recurring financial charges | 65 | €24,969 | €22,517 | -€2,452 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €76,251 | €51,355 | -€24,896 | -32.7% |
| Income taxes | 67/77 | €743 | €744 | +€0 | 0.0% |
| Profit (loss) for the period | 9904 | €75,508 | €50,611 | -€24,897 | -33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €75,508 | €50,611 | -€24,897 | -33.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.