PROJECT A: what changed
PROJECT A
Largest movements
- Cash -€19,560
down €19,560 (-98.2%), from €19,922 to €361
mainly Debts after one year (-€105,633) and Net result for the year (-€13,458)
- Debts after one year -€105,633
down €105,633 (-59.7%), from €176,916 to €71,283
- Other debts +€99,000
new in 2025: €99,000
- Profit (loss) carried forward -€13,458
down €13,458 (-3.0%), from €444,729 to €431,271
- Gross operating margin -€42,011
down €42,011, from €33,388 to -€8,623
- Financial income -€39,247
no longer reported in 2025 (was €39,247)
- Other operating charges -€6,554
down €6,554 (-86.0%), from €7,618 to €1,064
- Financial charges -€2,841
down €2,841 (-43.0%), from €6,611 to €3,771
Change in the result, 2024 to 2025
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 2024 and 2025 balance sheets and the 2025 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 | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €761,698 | €737,613 | -€24,085 | -3.2% |
| Fixed assets | 21/28 | €481,500 | €481,500 | = | 0.0% |
| Financial fixed assets | 28 | €481,500 | €481,500 | = | 0.0% |
| Current assets | 29/58 | €280,198 | €256,113 | -€24,085 | -8.6% |
| Stocks and contracts in progress | 3 | €170,942 | €170,942 | = | 0.0% |
| Stocks | 30/36 | €170,942 | €170,942 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €89,334 | €84,810 | -€4,525 | -5.1% |
| Trade receivables | 40 | €22,506 | €15,766 | -€6,740 | -29.9% |
| Other amounts receivable | 41 | €66,828 | €69,044 | +€2,216 | +3.3% |
| Cash at bank and in hand | 54/58 | €19,922 | €361 | -€19,560 | -98.2% |
| Total equity and liabilities | 10/49 | €761,698 | €737,613 | -€24,085 | -3.2% |
| Equity | 10/15 | €469,729 | €456,271 | -€13,458 | -2.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €444,729 | €431,271 | -€13,458 | -3.0% |
| Amounts payable | 17/49 | €291,969 | €281,342 | -€10,627 | -3.6% |
| Amounts payable after more than one year | 17 | €176,916 | €71,283 | -€105,633 | -59.7% |
| Financial debts | 170/4 | €176,916 | €71,283 | -€105,633 | -59.7% |
| Amounts payable within one year | 42/48 | €115,053 | €210,059 | +€95,006 | +82.6% |
| Current portion of amounts payable after more than one year | 42 | €104,104 | €105,633 | +€1,529 | +1.5% |
| Trade debts | 44 | €10,633 | €5,426 | -€5,208 | -49.0% |
| Suppliers | 440/4 | €10,633 | €5,426 | -€5,208 | -49.0% |
| Taxes, remuneration and social security | 45 | €316 | - | -€316 | |
| Taxes | 450/3 | €316 | - | -€316 | |
| Other amounts payable | 47/48 | - | €99,000 | +€99,000 | |
| Other operating charges | 640/8 | €7,618 | €1,064 | -€6,554 | -86.0% |
| Gross operating margin | 9900 | €33,388 | -€8,623 | -€42,011 | |
| Operating profit (loss) | 9901 | €25,770 | -€9,687 | -€35,457 | |
| Financial income | 75/76B | €39,247 | - | -€39,247 | |
| Recurring financial income | 75 | €39,247 | - | -€39,247 | |
| Financial charges | 65/66B | €6,611 | €3,771 | -€2,841 | -43.0% |
| Recurring financial charges | 65 | €6,611 | €3,771 | -€2,841 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €58,406 | -€13,458 | -€71,864 | |
| Profit (loss) for the period | 9904 | €58,406 | -€13,458 | -€71,864 | |
| Profit (loss) for the period to be appropriated | 9905 | €58,406 | -€13,458 | -€71,864 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.