DAC PROJECT: 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.
DAC PROJECT
Largest movements
- Cash -€3,654
down €3,654 (-87.1%), from €4,193 to €539
mainly Net result for the year (-€5,188) and Tax, wage and social debts (-€1,654)
- Intangible fixed assets -€2,052
down €2,052 (-33.7%), from €6,096 to €4,044
- Stocks and contracts -€780
down €780 (-33.3%), from €2,340 to €1,560
- Receivables within one year -€693
down €693 (-48.1%), from €1,440 to €747
of which Trade receivables: -€749
- Profit (loss) carried forward -€5,188
down €5,188 (-70.9%), from €7,312 to €2,124
- Tax, wage and social debts -€1,654
no longer reported in 2025 (was €1,654)
- Trade debts -€332
down €332 (-83.8%), from €397 to €64
- Gross operating margin -€27,241
down €27,241, from €24,675 to -€2,566
- Taxes -€4,566
no longer reported in 2025 (was €4,566)
- Financial charges -€371
down €371 (-78.0%), from €475 to €104
- Depreciation +€251
up €251 (+14.0%), from €1,801 to €2,052
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.
Derived cash bridge
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 | €14,119 | €6,940 | -€7,179 | -50.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €6,145 | €4,093 | -€2,052 | -33.4% |
| Intangible fixed assets | 21 | €6,096 | €4,044 | -€2,052 | -33.7% |
| Financial fixed assets | 28 | €49 | €49 | = | 0.0% |
| Current assets | 29/58 | €7,974 | €2,847 | -€5,127 | -64.3% |
| Stocks and contracts in progress | 3 | €2,340 | €1,560 | -€780 | -33.3% |
| Stocks | 30/36 | €2,340 | €1,560 | -€780 | -33.3% |
| Amounts receivable within one year | 40/41 | €1,440 | €747 | -€693 | -48.1% |
| Trade receivables | 40 | €1,107 | €358 | -€749 | -67.6% |
| Other amounts receivable | 41 | €334 | €389 | +€56 | +16.7% |
| Cash at bank and in hand | 54/58 | €4,193 | €539 | -€3,654 | -87.1% |
| Total equity and liabilities | 10/49 | €14,119 | €6,940 | -€7,179 | -50.8% |
| Equity | 10/15 | €9,812 | €4,624 | -€5,188 | -52.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,312 | €2,124 | -€5,188 | -70.9% |
| Amounts payable | 17/49 | €4,307 | €2,315 | -€1,992 | -46.2% |
| Amounts payable within one year | 42/48 | €4,307 | €2,315 | -€1,992 | -46.2% |
| Trade debts | 44 | €397 | €64 | -€332 | -83.8% |
| Suppliers | 440/4 | €397 | €64 | -€332 | -83.8% |
| Taxes, remuneration and social security | 45 | €1,654 | - | -€1,654 | |
| Taxes | 450/3 | €1,654 | - | -€1,654 | |
| Other amounts payable | 47/48 | €2,256 | €2,251 | -€6 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,801 | €2,052 | +€251 | +14.0% |
| Other operating charges | 640/8 | €387 | €465 | +€78 | +20.2% |
| Gross operating margin | 9900 | €24,675 | -€2,566 | -€27,241 | |
| Operating profit (loss) | 9901 | €22,487 | -€5,083 | -€27,570 | |
| Financial charges | 65/66B | €475 | €104 | -€371 | -78.0% |
| Recurring financial charges | 65 | €475 | €104 | -€371 | -78.0% |
| Profit (loss) for the period before taxes | 9903 | €22,012 | -€5,188 | -€27,199 | |
| Income taxes | 67/77 | €4,566 | - | -€4,566 | |
| Profit (loss) for the period | 9904 | €17,445 | -€5,188 | -€22,633 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,445 | -€5,188 | -€22,633 |
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 17 October 2026 via checked.be.