DACO PROJECTS: what changed
What changed
DACO PROJECTS
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€161,934
2024 · €124,155+€37,778
Equity
€517,943
2024 · €356,010+€161,934
Cash
€336,270
2024 · €579,977-€243,707
Balance sheet total
€794,742
2024 · €1.1m-€278,169
Largest movements
Assets
- Cash -€243,707
down €243,707 (-42.0%), from €579,977 to €336,270
mainly Trade debts (-€212,231) and Other debts (-€157,500)
- Receivables within one year -€23,035
down €23,035 (-7.2%), from €318,019 to €294,984
of which Trade receivables: -€26,111
- Tangible fixed assets -€16,222
down €16,222 (-11.4%), from €142,600 to €126,378
of which Furniture and vehicles: -€31,879
Equity and liabilities
- Trade debts -€212,231
down €212,231 (-54.4%), from €390,174 to €177,943
- Reserves +€161,934
up €161,934 (+48.3%), from €335,550 to €497,483
of which Distributable reserves: +€258,764
- Other debts -€157,500
no longer reported in 2025 (was €157,500)
- Tax, wage and social debts -€86,013
down €86,013 (-82.0%), from €104,940 to €18,927
of which Taxes: -€81,492
- Short-term financial debts +€16,812
new in 2025: €16,812
Income statement
- Gross operating margin +€63,991
up €63,991 (+12.6%), from €505,906 to €569,896
- Staff costs +€44,794
up €44,794 (+16.0%), from €279,951 to €324,745
- Write-downs -€21,444
new in 2025: -€21,444
- Taxes +€11,674
up €11,674 (+24.3%), from €48,088 to €59,762
- Depreciation -€9,627
down €9,627 (-15.8%), from €60,843 to €51,216
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
€124,155
Gross operating margin
+€63,991
Staff costs
-€44,794
Depreciation
+€9,627
Write-downs
+€21,444
Other operating charges
-€1,798
Other operating items
+€851
Financial income
+€2,030
Financial charges
-€1,899
Taxes
-€11,674
Result 2025
€161,934
raises the resultlowers 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
-€208,414
Investment
-€34,768
Financing
-€525
Cash 2024
€579,977
From operations (derived)
-€208,414
Net result for the year
+€161,934
Depreciation
+€51,216
Smaller working-capital items
-€781
Receivables within one year
+€23,035
Deferred charges and accrued income
-€4,715
Trade debts
-€212,231
Tax, wage and social debts
-€86,013
Advances received
+€16,643
Other debts
-€157,500
Investment (derived)
-€34,768
Investment in fixed assets (net)
-€34,768
Financing
-€525
Debts after one year
-€15,283
Current portion of long-term debt
-€2,054
Short-term financial debts
+€16,812
Cash 2025
€336,270
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,072,912 | €794,742 | -€278,169 | -25.9% |
| Fixed assets | 21/28 | €142,826 | €126,378 | -€16,448 | -11.5% |
| Intangible fixed assets | 21 | €226 | - | -€226 | |
| Tangible fixed assets | 22/27 | €142,600 | €126,378 | -€16,222 | -11.4% |
| Plant, machinery and equipment | 23 | €5,830 | €8,703 | +€2,873 | +49.3% |
| Furniture and vehicles | 24 | €120,914 | €89,035 | -€31,879 | -26.4% |
| Other tangible fixed assets | 26 | €15,856 | €28,640 | +€12,784 | +80.6% |
| Current assets | 29/58 | €930,085 | €668,364 | -€261,721 | -28.1% |
| Stocks and contracts in progress | 3 | €21,771 | €22,077 | +€306 | +1.4% |
| Stocks | 30/36 | €21,771 | €22,077 | +€306 | +1.4% |
| Amounts receivable within one year | 40/41 | €318,019 | €294,984 | -€23,035 | -7.2% |
| Trade receivables | 40 | €216,300 | €190,189 | -€26,111 | -12.1% |
| Other amounts receivable | 41 | €101,719 | €104,795 | +€3,076 | +3.0% |
| Cash at bank and in hand | 54/58 | €579,977 | €336,270 | -€243,707 | -42.0% |
| Deferred charges and accrued income | 490/1 | €10,319 | €15,034 | +€4,715 | +45.7% |
| Total equity and liabilities | 10/49 | €1,072,912 | €794,742 | -€278,169 | -25.9% |
| Equity | 10/15 | €356,010 | €517,943 | +€161,934 | +45.5% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Contributions outside capital | 11 | €20,460 | €20,460 | = | 0.0% |
| Other | 1109/19 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €335,550 | €497,483 | +€161,934 | +48.3% |
| Tax-exempt reserves | 132 | €96,830 | - | -€96,830 | |
| Distributable reserves | 133 | €238,720 | €497,483 | +€258,764 | +108% |
| Amounts payable | 17/49 | €716,902 | €276,799 | -€440,103 | -61.4% |
| Amounts payable after more than one year | 17 | €43,924 | €28,641 | -€15,283 | -34.8% |
| Financial debts | 170/4 | €43,924 | €28,641 | -€15,283 | -34.8% |
| Amounts payable within one year | 42/48 | €669,952 | €245,608 | -€424,344 | -63.3% |
| Current portion of amounts payable after more than one year | 42 | €17,337 | €15,283 | -€2,054 | -11.8% |
| Financial debts | 43 | - | €16,812 | +€16,812 | |
| Credit institutions | 430/8 | - | €16,812 | +€16,812 | |
| Trade debts | 44 | €390,174 | €177,943 | -€212,231 | -54.4% |
| Suppliers | 440/4 | €390,174 | €177,943 | -€212,231 | -54.4% |
| Advances received on contracts in progress | 46 | - | €16,643 | +€16,643 | |
| Taxes, remuneration and social security | 45 | €104,940 | €18,927 | -€86,013 | -82.0% |
| Taxes | 450/3 | €81,492 | - | -€81,492 | |
| Remuneration and social security | 454/9 | €23,449 | €18,927 | -€4,521 | -19.3% |
| Other amounts payable | 47/48 | €157,500 | - | -€157,500 | |
| Accrued charges and deferred income | 492/3 | €3,025 | €2,550 | -€475 | -15.7% |
| Non-recurring operating income | 76A | €178 | - | -€178 | |
| Remuneration, social security and pensions | 62 | €279,951 | €324,745 | +€44,794 | +16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,843 | €51,216 | -€9,627 | -15.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€21,444 | -€21,444 | |
| Other operating charges | 640/8 | €13,874 | €15,672 | +€1,798 | +13.0% |
| Non-recurring operating charges | 66A | €851 | - | -€851 | |
| Gross operating margin | 9900 | €505,906 | €569,896 | +€63,991 | +12.6% |
| Operating profit (loss) | 9901 | €150,386 | €199,706 | +€49,320 | +32.8% |
| Financial income | 75/76B | €26,320 | €28,350 | +€2,030 | +7.7% |
| Recurring financial income | 75 | €26,320 | €28,350 | +€2,030 | +7.7% |
| Financial charges | 65/66B | €4,463 | €6,361 | +€1,899 | +42.5% |
| Recurring financial charges | 65 | €4,463 | €6,361 | +€1,899 | +42.5% |
| Profit (loss) for the period before taxes | 9903 | €172,243 | €221,695 | +€49,452 | +28.7% |
| Income taxes | 67/77 | €48,088 | €59,762 | +€11,674 | +24.3% |
| Profit (loss) for the period | 9904 | €124,155 | €161,934 | +€37,778 | +30.4% |
| Transfer from tax-exempt reserves | 789 | - | €96,830 | +€96,830 | |
| Profit (loss) for the period to be appropriated | 9905 | €124,155 | €258,764 | +€134,608 | +108% |
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 3 November 2026 via checked.be.