D-PROJECTS: what changed
Two financial 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-PROJECTS
Largest movements
- Receivables within one year -€28,318
down €28,318 (-71.2%), from €39,770 to €11,452
of which Trade receivables: -€30,179
- Cash +€12,707
up €12,707 (+64.7%), from €19,635 to €32,343
mainly Receivables within one year (+€28,318) and Depreciation (+€7,191)
- Tangible fixed assets -€9,723
down €9,723 (-84.7%), from €11,482 to €1,759
of which Furniture and vehicles: -€8,836
- Profit (loss) carried forward -€15,603
down €15,603 (-84.1%), from €18,548 to €2,945
- Debts after one year -€8,778
down €8,778 (-18.7%), from €47,035 to €38,258
- Gross operating margin -€29,789
down €29,789 (-73.4%), from €40,566 to €10,777
- Write-downs +€14,596
new in 2025: €14,596
- Taxes -€11,506
down €11,506 (-94.8%), from €12,136 to €630
- Depreciation -€1,357
down €1,357 (-15.9%), from €8,547 to €7,191
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 | €71,589 | €46,704 | -€24,885 | -34.8% |
| Fixed assets | 21/28 | €11,632 | €1,909 | -€9,723 | -83.6% |
| Tangible fixed assets | 22/27 | €11,482 | €1,759 | -€9,723 | -84.7% |
| Plant, machinery and equipment | 23 | €886 | €0 | -€886 | -100.0% |
| Furniture and vehicles | 24 | €10,596 | €1,759 | -€8,836 | -83.4% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €59,957 | €44,794 | -€15,163 | -25.3% |
| Amounts receivable within one year | 40/41 | €39,770 | €11,452 | -€28,318 | -71.2% |
| Trade receivables | 40 | €35,327 | €5,147 | -€30,179 | -85.4% |
| Other amounts receivable | 41 | €4,443 | €6,305 | +€1,862 | +41.9% |
| Cash at bank and in hand | 54/58 | €19,635 | €32,343 | +€12,707 | +64.7% |
| Deferred charges and accrued income | 490/1 | €552 | €999 | +€447 | +81.1% |
| Total equity and liabilities | 10/49 | €71,589 | €46,704 | -€24,885 | -34.8% |
| Equity | 10/15 | €18,548 | €2,945 | -€15,603 | -84.1% |
| Contributions | 10/11 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €18,548 | €2,945 | -€15,603 | -84.1% |
| Amounts payable | 17/49 | €53,041 | €43,759 | -€9,282 | -17.5% |
| Amounts payable after more than one year | 17 | €47,035 | €38,258 | -€8,778 | -18.7% |
| Financial debts | 170/4 | €47,035 | €38,258 | -€8,778 | -18.7% |
| Amounts payable within one year | 42/48 | €6,005 | €5,501 | -€504 | -8.4% |
| Trade debts | 44 | €1,111 | €1,269 | +€158 | +14.2% |
| Suppliers | 440/4 | €1,111 | €1,269 | +€158 | +14.2% |
| Taxes, remuneration and social security | 45 | €4,894 | €4,232 | -€662 | -13.5% |
| Taxes | 450/3 | €4,894 | €4,232 | -€662 | -13.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,547 | €7,191 | -€1,357 | -15.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €14,596 | +€14,596 | |
| Other operating charges | 640/8 | €1,183 | €1,293 | +€110 | +9.3% |
| Non-recurring operating charges | 66A | - | €2,532 | +€2,532 | |
| Gross operating margin | 9900 | €40,566 | €10,777 | -€29,789 | -73.4% |
| Operating profit (loss) | 9901 | €30,835 | -€14,834 | -€45,670 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €150 | €139 | -€12 | -7.8% |
| Recurring financial charges | 65 | €150 | €139 | -€12 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €30,685 | -€14,973 | -€45,658 | |
| Income taxes | 67/77 | €12,136 | €630 | -€11,506 | -94.8% |
| Profit (loss) for the period | 9904 | €18,548 | -€15,603 | -€34,152 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,548 | -€15,603 | -€34,152 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.