V3 PROJECTS: what changed
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
Change in the result, 2019 to 2020
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2019 and 2020 balance sheets and the 2020 result. There is no filed cash-flow statement. You see where the money came from and where it 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% |
| 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% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2019 and 31 December 2020. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.