DACO-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.
DACO-Project
Largest movements
- Receivables within one year +€14,693
up €14,693 (+53.7%), from €27,377 to €42,070
of which Other amounts receivable: +€10,774
- Cash +€4,671
up €4,671 (+28.6%), from €16,342 to €21,013
mainly Net result for the year (+€25,252) and Depreciation (+€695)
- Tangible fixed assets +€1,707
up €1,707 (+78.1%), from €2,184 to €3,890
of which Furniture and vehicles: +€1,110
- Reserves +€25,200
up €25,200 (+77.4%), from €32,550 to €57,750
- Tax, wage and social debts -€4,327
down €4,327 (-70.3%), from €6,158 to €1,831
- Gross operating margin -€10,558
down €10,558 (-21.0%), from €50,285 to €39,728
- Financial charges -€1,889
down €1,889 (-41.6%), from €4,545 to €2,656
- Staff costs -€1,049
down €1,049 (-82.4%), from €1,272 to €223
- Taxes -€818
down €818 (-6.3%), from €13,055 to €12,237
- Financial income -€618
down €618 (-19.3%), from €3,202 to €2,583
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 | €46,324 | €67,383 | +€21,058 | +45.5% |
| Fixed assets | 21/28 | €2,184 | €3,890 | +€1,707 | +78.1% |
| Tangible fixed assets | 22/27 | €2,184 | €3,890 | +€1,707 | +78.1% |
| Plant, machinery and equipment | 23 | €515 | €1,112 | +€597 | +116% |
| Furniture and vehicles | 24 | €1,669 | €2,779 | +€1,110 | +66.5% |
| Current assets | 29/58 | €44,141 | €63,492 | +€19,352 | +43.8% |
| Amounts receivable within one year | 40/41 | €27,377 | €42,070 | +€14,693 | +53.7% |
| Trade receivables | 40 | €23,117 | €27,036 | +€3,919 | +17.0% |
| Other amounts receivable | 41 | €4,260 | €15,034 | +€10,774 | +253% |
| Cash at bank and in hand | 54/58 | €16,342 | €21,013 | +€4,671 | +28.6% |
| Deferred charges and accrued income | 490/1 | €422 | €409 | -€13 | -3.0% |
| Total equity and liabilities | 10/49 | €46,324 | €67,383 | +€21,058 | +45.5% |
| Equity | 10/15 | €36,561 | €61,813 | +€25,252 | +69.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €32,550 | €57,750 | +€25,200 | +77.4% |
| Distributable reserves | 133 | €32,550 | €57,750 | +€25,200 | +77.4% |
| Profit (loss) carried forward | 14 | €11 | €63 | +€52 | +486% |
| Amounts payable | 17/49 | €9,764 | €5,570 | -€4,193 | -42.9% |
| Amounts payable within one year | 42/48 | €9,764 | €5,570 | -€4,193 | -42.9% |
| Financial debts | 43 | €1,697 | €1,599 | -€99 | -5.8% |
| Credit institutions | 430/8 | €1,697 | €1,599 | -€99 | -5.8% |
| Trade debts | 44 | €1,909 | €2,140 | +€232 | +12.1% |
| Suppliers | 440/4 | €1,909 | €2,140 | +€232 | +12.1% |
| Taxes, remuneration and social security | 45 | €6,158 | €1,831 | -€4,327 | -70.3% |
| Taxes | 450/3 | €6,158 | €1,831 | -€4,327 | -70.3% |
| Remuneration, social security and pensions | 62 | €1,272 | €223 | -€1,049 | -82.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €253 | €695 | +€442 | +174% |
| Other operating charges | 640/8 | €1,801 | €1,248 | -€553 | -30.7% |
| Gross operating margin | 9900 | €50,285 | €39,728 | -€10,558 | -21.0% |
| Operating profit (loss) | 9901 | €46,959 | €37,561 | -€9,397 | -20.0% |
| Financial income | 75/76B | €3,202 | €2,583 | -€618 | -19.3% |
| Recurring financial income | 75 | €3,202 | €2,583 | -€618 | -19.3% |
| Financial charges | 65/66B | €4,545 | €2,656 | -€1,889 | -41.6% |
| Recurring financial charges | 65 | €4,545 | €2,656 | -€1,889 | -41.6% |
| Profit (loss) for the period before taxes | 9903 | €45,616 | €37,489 | -€8,127 | -17.8% |
| Income taxes | 67/77 | €13,055 | €12,237 | -€818 | -6.3% |
| Profit (loss) for the period | 9904 | €32,561 | €25,252 | -€7,309 | -22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €32,561 | €25,252 | -€7,309 | -22.4% |
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 19 October 2026 via checked.be.