Bridging Projects: what changed
Bridging Projects
Largest movements
- Cash -€29,411
down €29,411 (-59.2%), from €49,712 to €20,301
mainly Contributions, distributions and other (-€87,712) and Investment in fixed assets (net) (-€18,956)
- Receivables within one year -€20,421
down €20,421 (-28.0%), from €72,949 to €52,528
of which Other amounts receivable: -€11,546
- Tangible fixed assets +€12,108
up €12,108 (+11.2%), from €108,191 to €120,298
of which Furniture and vehicles: +€12,593
- Reserves -€69,820
down €69,820 (-29.7%), from €235,434 to €165,613
- Other debts +€20,066
up €20,066 (+2,130%), from €942 to €21,008
- Tax, wage and social debts +€13,549
up €13,549 (+48.2%), from €28,118 to €41,667
- Other operating charges +€19,588
up €19,588 (+17,808%), from €110 to €19,698
- Gross operating margin +€11,298
up €11,298 (+25.0%), from €45,205 to €56,503
- Taxes -€1,225
down €1,225 (-9.3%), from €13,138 to €11,912
- Depreciation -€1,071
down €1,071 (-13.5%), from €7,920 to €6,849
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 | €268,336 | €230,793 | -€37,543 | -14.0% |
| Fixed assets | 21/28 | €145,675 | €157,783 | +€12,108 | +8.3% |
| Tangible fixed assets | 22/27 | €108,191 | €120,298 | +€12,108 | +11.2% |
| Land and buildings | 22 | €87,902 | €95,829 | +€7,928 | +9.0% |
| Plant, machinery and equipment | 23 | €12,539 | €4,126 | -€8,413 | -67.1% |
| Furniture and vehicles | 24 | €7,750 | €20,343 | +€12,593 | +162% |
| Financial fixed assets | 28 | €37,484 | €37,484 | = | 0.0% |
| Current assets | 29/58 | €122,661 | €73,011 | -€49,651 | -40.5% |
| Amounts receivable within one year | 40/41 | €72,949 | €52,528 | -€20,421 | -28.0% |
| Trade receivables | 40 | €39,731 | €30,855 | -€8,876 | -22.3% |
| Other amounts receivable | 41 | €33,219 | €21,673 | -€11,546 | -34.8% |
| Cash at bank and in hand | 54/58 | €49,712 | €20,301 | -€29,411 | -59.2% |
| Deferred charges and accrued income | 490/1 | - | €182 | +€182 | |
| Total equity and liabilities | 10/49 | €268,336 | €230,793 | -€37,543 | -14.0% |
| Equity | 10/15 | €235,534 | €165,713 | -€69,820 | -29.6% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €235,434 | €165,613 | -€69,820 | -29.7% |
| Distributable reserves | 133 | €235,434 | €165,613 | -€69,820 | -29.7% |
| Amounts payable | 17/49 | €32,803 | €65,080 | +€32,277 | +98.4% |
| Amounts payable within one year | 42/48 | €31,893 | €63,934 | +€32,041 | +100% |
| Trade debts | 44 | €2,833 | €1,259 | -€1,574 | -55.6% |
| Suppliers | 440/4 | €2,833 | €1,259 | -€1,574 | -55.6% |
| Taxes, remuneration and social security | 45 | €28,118 | €41,667 | +€13,549 | +48.2% |
| Taxes | 450/3 | €28,118 | €41,667 | +€13,549 | +48.2% |
| Other amounts payable | 47/48 | €942 | €21,008 | +€20,066 | +2,130% |
| Accrued charges and deferred income | 492/3 | €910 | €1,146 | +€236 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,920 | €6,849 | -€1,071 | -13.5% |
| Other operating charges | 640/8 | €110 | €19,698 | +€19,588 | +17,808% |
| Gross operating margin | 9900 | €45,205 | €56,503 | +€11,298 | +25.0% |
| Operating profit (loss) | 9901 | €37,175 | €29,956 | -€7,219 | -19.4% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €131 | €154 | +€23 | +17.4% |
| Recurring financial charges | 65 | €131 | €154 | +€23 | +17.4% |
| Profit (loss) for the period before taxes | 9903 | €37,044 | €29,804 | -€7,240 | -19.5% |
| Income taxes | 67/77 | €13,138 | €11,912 | -€1,225 | -9.3% |
| Profit (loss) for the period | 9904 | €23,906 | €17,892 | -€6,015 | -25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,906 | €17,892 | -€6,015 | -25.2% |
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 5 November 2026 via checked.be.