D2 Projects: what changed
What changed
D2 Projects
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
-€17,046
2024 · -€3,322-€13,724
Equity
€27,372
2024 · €44,418-€17,046
Cash
€3,007
2024 · €5,579-€2,572
Balance sheet total
€703,430
2024 · €672,789+€30,640
Largest movements
Assets
- Tangible fixed assets +€160,000
new in 2025: €160,000
- Stocks and contracts -€125,244
down €125,244 (-18.9%), from €662,757 to €537,513
Equity and liabilities
- Other debts +€56,997
up €56,997 (+26.0%), from €219,472 to €276,469
- Profit (loss) carried forward -€17,046
down €17,046 (-305%), from -€5,582 to -€22,628
- Accrued charges and deferred income -€11,502
down €11,502 (-60.7%), from €18,964 to €7,462
Income statement
- Financial charges +€3,824
up €3,824 (+13,418%), from €29 to €3,853
- Other operating charges +€3,140
up €3,140 (+531%), from €592 to €3,732
- Gross operating margin -€610
down €610 (-24.9%), from -€2,452 to -€3,062
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.
Result 2024
-€3,322
Gross operating margin
-€610
Other operating charges
-€3,140
Other operating items
-€6,150
Financial charges
-€3,824
Result 2025
-€17,046
lowers the resultnot broken down further in the accounts
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.
From operations
+€157,428
Investment
-€160,000
Financing
€0
Cash 2024
€5,579
From operations (derived)
+€157,428
Net result for the year
-€17,046
Stocks and contracts
+€125,244
Receivables within one year
+€1,698
Deferred charges and accrued income
-€154
Trade debts
+€4,567
Tax, wage and social debts
-€2,376
Other debts
+€56,997
Accrued charges and deferred income
-€11,502
Investment (derived)
-€160,000
Investment in fixed assets (net)
-€160,000
Cash 2025
€3,007
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €672,789 | €703,430 | +€30,640 | +4.6% |
| Fixed assets | 21/28 | - | €160,000 | +€160,000 | |
| Tangible fixed assets | 22/27 | - | €160,000 | +€160,000 | |
| Land and buildings | 22 | - | €160,000 | +€160,000 | |
| Current assets | 29/58 | €672,789 | €543,430 | -€129,360 | -19.2% |
| Stocks and contracts in progress | 3 | €662,757 | €537,513 | -€125,244 | -18.9% |
| Stocks | 30/36 | €662,757 | €537,513 | -€125,244 | -18.9% |
| Amounts receivable within one year | 40/41 | €4,454 | €2,756 | -€1,698 | -38.1% |
| Trade receivables | 40 | €1,698 | - | -€1,698 | |
| Other amounts receivable | 41 | €2,756 | €2,756 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,579 | €3,007 | -€2,572 | -46.1% |
| Deferred charges and accrued income | 490/1 | - | €154 | +€154 | |
| Total equity and liabilities | 10/49 | €672,789 | €703,430 | +€30,640 | +4.6% |
| Equity | 10/15 | €44,418 | €27,372 | -€17,046 | -38.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,582 | -€22,628 | -€17,046 | -305% |
| Amounts payable | 17/49 | €628,371 | €676,058 | +€47,686 | +7.6% |
| Amounts payable within one year | 42/48 | €609,407 | €668,596 | +€59,188 | +9.7% |
| Financial debts | 43 | €385,000 | €385,000 | = | 0.0% |
| Credit institutions | 430/8 | €385,000 | €385,000 | = | 0.0% |
| Trade debts | 44 | €2,559 | €7,126 | +€4,567 | +178% |
| Suppliers | 440/4 | €2,559 | €7,126 | +€4,567 | +178% |
| Taxes, remuneration and social security | 45 | €2,376 | - | -€2,376 | |
| Taxes | 450/3 | €2,376 | - | -€2,376 | |
| Other amounts payable | 47/48 | €219,472 | €276,469 | +€56,997 | +26.0% |
| Accrued charges and deferred income | 492/3 | €18,964 | €7,462 | -€11,502 | -60.7% |
| Other operating charges | 640/8 | €592 | €3,732 | +€3,140 | +531% |
| Non-recurring operating charges | 66A | €250 | €6,400 | +€6,150 | +2,460% |
| Gross operating margin | 9900 | -€2,452 | -€3,062 | -€610 | -24.9% |
| Operating profit (loss) | 9901 | -€3,294 | -€13,193 | -€9,900 | -301% |
| Financial charges | 65/66B | €29 | €3,853 | +€3,824 | +13,418% |
| Recurring financial charges | 65 | €29 | €3,853 | +€3,824 | +13,418% |
| Profit (loss) for the period before taxes | 9903 | -€3,322 | -€17,046 | -€13,724 | -413% |
| Profit (loss) for the period | 9904 | -€3,322 | -€17,046 | -€13,724 | -413% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,322 | -€17,046 | -€13,724 | -413% |
Next steps
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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 8 November 2026 via checked.be.