D & N 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 & N PROJECTS
Largest movements
- Receivables within one year +€9,514
up €9,514 (+18.9%), from €50,399 to €59,913
of which Trade receivables: +€9,000
- Cash -€7,588
down €7,588 (-8.6%), from €87,924 to €80,337
mainly Receivables within one year (-€9,514) and Trade debts (-€777)
- Debts after one year +€3,051
up €3,051 (+6.8%), from €44,665 to €47,716
- Gross operating margin -€1,423
down €1,423 (-19.8%), from €7,178 to €5,755
- Other operating charges -€548
down €548 (-89.3%), from €614 to €66
- Financial charges -€495
down €495 (-8.2%), from €6,059 to €5,564
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 | €174,536 | €176,462 | +€1,926 | +1.1% |
| Current assets | 29/58 | €174,536 | €176,462 | +€1,926 | +1.1% |
| Stocks and contracts in progress | 3 | €36,213 | €36,213 | = | 0.0% |
| Stocks | 30/36 | €36,213 | €36,213 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €50,399 | €59,913 | +€9,514 | +18.9% |
| Trade receivables | 40 | €48,909 | €57,909 | +€9,000 | +18.4% |
| Other amounts receivable | 41 | €1,490 | €2,004 | +€514 | +34.5% |
| Cash at bank and in hand | 54/58 | €87,924 | €80,337 | -€7,588 | -8.6% |
| Total equity and liabilities | 10/49 | €174,536 | €176,462 | +€1,926 | +1.1% |
| Equity | 10/15 | €62,080 | €62,172 | +€92 | +0.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,850 | €1,850 | = | 0.0% |
| Distributable reserves | 133 | €1,850 | €1,850 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,680 | €41,772 | +€92 | +0.2% |
| Amounts payable | 17/49 | €112,456 | €114,290 | +€1,834 | +1.6% |
| Amounts payable after more than one year | 17 | €44,665 | €47,716 | +€3,051 | +6.8% |
| Financial debts | 170/4 | €44,665 | €47,716 | +€3,051 | +6.8% |
| Amounts payable within one year | 42/48 | €67,791 | €66,574 | -€1,216 | -1.8% |
| Trade debts | 44 | €777 | €0 | -€777 | -100.0% |
| Suppliers | 440/4 | €777 | €0 | -€777 | -100.0% |
| Taxes, remuneration and social security | 45 | €396 | €34 | -€363 | -91.5% |
| Taxes | 450/3 | €396 | €34 | -€363 | -91.5% |
| Other amounts payable | 47/48 | €66,617 | €66,541 | -€76 | -0.1% |
| Other operating charges | 640/8 | €614 | €66 | -€548 | -89.3% |
| Gross operating margin | 9900 | €7,178 | €5,755 | -€1,423 | -19.8% |
| Operating profit (loss) | 9901 | €6,565 | €5,690 | -€875 | -13.3% |
| Financial charges | 65/66B | €6,059 | €5,564 | -€495 | -8.2% |
| Recurring financial charges | 65 | €6,059 | €5,564 | -€495 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €506 | €126 | -€380 | -75.2% |
| Income taxes | 67/77 | €88 | €34 | -€54 | -61.8% |
| Profit (loss) for the period | 9904 | €418 | €92 | -€326 | -78.0% |
| Profit (loss) for the period to be appropriated | 9905 | €418 | €92 | -€326 | -78.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.