D-C projects: 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.
D-C projects
Largest movements
- Receivables within one year +€24,693
up €24,693 (+350.6%), from €7,043 to €31,736
of which Trade receivables: +€22,879
- Current investments -€7,693
down €7,693 (-23.4%), from €32,938 to €25,244
- Cash +€7,043
up €7,043 (+59.7%), from €11,800 to €18,843
mainly Net result for the year (+€26,264) and Current investments (+€7,693)
- Reserves +€26,264
new in 2025: €26,264
- Current portion of long-term debt -€4,986
down €4,986 (-100.0%), from €4,986 to €0
- Tax, wage and social debts +€2,340
up €2,340 (+36.5%), from €6,416 to €8,756
- Short-term financial debts +€1,162
up €1,162 (+260.6%), from €446 to €1,608
of which Other loans: +€1,608
- Gross operating margin -€29,948
down €29,948 (-39.5%), from €75,870 to €45,923
- Depreciation -€6,443
down €6,443 (-60.8%), from €10,602 to €4,159
- Taxes -€3,813
down €3,813 (-25.9%), from €14,702 to €10,889
- Financial charges +€2,634
up €2,634 (+728.7%), from €361 to €2,995
- Other operating charges +€1,164
up €1,164 (+103.9%), from €1,121 to €2,285
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 | €84,221 | €108,245 | +€24,023 | +28.5% |
| Fixed assets | 21/28 | €32,035 | €31,265 | -€770 | -2.4% |
| Tangible fixed assets | 22/27 | €32,035 | €31,265 | -€770 | -2.4% |
| Plant, machinery and equipment | 23 | €1,782 | €1,422 | -€360 | -20.2% |
| Furniture and vehicles | 24 | €14,202 | €1,902 | -€12,300 | -86.6% |
| Other tangible fixed assets | 26 | €16,051 | €27,941 | +€11,890 | +74.1% |
| Current assets | 29/58 | €52,186 | €76,980 | +€24,794 | +47.5% |
| Amounts receivable within one year | 40/41 | €7,043 | €31,736 | +€24,693 | +350.6% |
| Trade receivables | 40 | €0 | €22,879 | +€22,879 | |
| Other amounts receivable | 41 | €7,043 | €8,857 | +€1,814 | +25.8% |
| Current investments | 50/53 | €32,938 | €25,244 | -€7,693 | -23.4% |
| Cash at bank and in hand | 54/58 | €11,800 | €18,843 | +€7,043 | +59.7% |
| Deferred charges and accrued income | 490/1 | €406 | €1,157 | +€751 | +184.8% |
| Total equity and liabilities | 10/49 | €84,221 | €108,245 | +€24,023 | +28.5% |
| Equity | 10/15 | €71,333 | €97,598 | +€26,264 | +36.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €26,264 | +€26,264 | |
| Distributable reserves | 133 | - | €26,264 | +€26,264 | |
| Profit (loss) carried forward | 14 | €68,833 | €68,833 | = | 0.0% |
| Amounts payable | 17/49 | €12,888 | €10,647 | -€2,241 | -17.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €12,888 | €10,647 | -€2,241 | -17.4% |
| Current portion of amounts payable after more than one year | 42 | €4,986 | €0 | -€4,986 | -100.0% |
| Financial debts | 43 | €446 | €1,608 | +€1,162 | +260.6% |
| Credit institutions | 430/8 | €446 | €0 | -€446 | -100.0% |
| Other loans | 439 | - | €1,608 | +€1,608 | |
| Trade debts | 44 | €1,039 | €283 | -€756 | -72.8% |
| Suppliers | 440/4 | €1,039 | €283 | -€756 | -72.8% |
| Taxes, remuneration and social security | 45 | €6,416 | €8,756 | +€2,340 | +36.5% |
| Taxes | 450/3 | €6,416 | €8,756 | +€2,340 | +36.5% |
| Non-recurring operating income | 76A | - | €1,828 | +€1,828 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,602 | €4,159 | -€6,443 | -60.8% |
| Other operating charges | 640/8 | €1,121 | €2,285 | +€1,164 | +103.9% |
| Gross operating margin | 9900 | €75,870 | €45,923 | -€29,948 | -39.5% |
| Operating profit (loss) | 9901 | €64,147 | €39,479 | -€24,668 | -38.5% |
| Financial income | 75/76B | €15 | €670 | +€655 | +4369.9% |
| Recurring financial income | 75 | €15 | €670 | +€655 | +4369.9% |
| Financial charges | 65/66B | €361 | €2,995 | +€2,634 | +728.7% |
| Recurring financial charges | 65 | €361 | €2,995 | +€2,634 | +728.7% |
| Profit (loss) for the period before taxes | 9903 | €63,801 | €37,153 | -€26,648 | -41.8% |
| Income taxes | 67/77 | €14,702 | €10,889 | -€3,813 | -25.9% |
| Profit (loss) for the period | 9904 | €49,099 | €26,264 | -€22,835 | -46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €49,099 | €26,264 | -€22,835 | -46.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.