Dakproject Vaes: 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.
Dakproject Vaes
Largest movements
- Tangible fixed assets +€97,646
up €97,646 (+431%), from €22,634 to €120,280
of which Leasing and similar rights: +€90,079
- Cash +€24,858
up €24,858 (+39.8%), from €62,416 to €87,273
mainly Debts after one year (+€65,978) and Net result for the year (+€44,816)
- Receivables within one year +€9,522
up €9,522 (+88.5%), from €10,755 to €20,277
of which Trade receivables: +€10,116
- Debts after one year +€65,978
up €65,978 (+942%), from €7,003 to €72,981
of which Financial debts: +€68,326
- Reserves +€44,816
up €44,816 (+62.0%), from €72,264 to €117,080
- Tax, wage and social debts +€12,663
up €12,663 (+318%), from €3,987 to €16,650
of which Taxes: +€12,736
- Current portion of long-term debt +€9,090
up €9,090 (+225%), from €4,034 to €13,124
- Gross operating margin +€50,876
up €50,876 (+258%), from €19,731 to €70,606
- Taxes +€10,630
up €10,630 (+505%), from €2,106 to €12,736
- Depreciation +€2,287
up €2,287 (+31.3%), from €7,320 to €9,607
- Other operating charges +€900
up €900 (+99.4%), from €906 to €1,806
- Financial charges +€751
up €751 (+80.1%), from €937 to €1,688
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 | €98,749 | €231,662 | +€132,913 | +135% |
| Fixed assets | 21/28 | €22,634 | €120,280 | +€97,646 | +431% |
| Tangible fixed assets | 22/27 | €22,634 | €120,280 | +€97,646 | +431% |
| Plant, machinery and equipment | 23 | €10,223 | €11,545 | +€1,322 | +12.9% |
| Furniture and vehicles | 24 | €6,365 | €12,610 | +€6,245 | +98.1% |
| Leasing and similar rights | 25 | €6,046 | €96,125 | +€90,079 | +1,490% |
| Current assets | 29/58 | €76,115 | €111,382 | +€35,267 | +46.3% |
| Amounts receivable within one year | 40/41 | €10,755 | €20,277 | +€9,522 | +88.5% |
| Trade receivables | 40 | €3,752 | €13,869 | +€10,116 | +270% |
| Other amounts receivable | 41 | €7,003 | €6,409 | -€594 | -8.5% |
| Cash at bank and in hand | 54/58 | €62,416 | €87,273 | +€24,858 | +39.8% |
| Deferred charges and accrued income | 490/1 | €2,944 | €3,831 | +€887 | +30.1% |
| Total equity and liabilities | 10/49 | €98,749 | €231,662 | +€132,913 | +135% |
| Equity | 10/15 | €79,764 | €124,580 | +€44,816 | +56.2% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €72,264 | €117,080 | +€44,816 | +62.0% |
| Distributable reserves | 133 | €72,264 | €117,080 | +€44,816 | +62.0% |
| Amounts payable | 17/49 | €18,985 | €107,082 | +€88,097 | +464% |
| Amounts payable after more than one year | 17 | €7,003 | €72,981 | +€65,978 | +942% |
| Financial debts | 170/4 | €1,453 | €69,779 | +€68,326 | +4,702% |
| Other amounts payable | 178/9 | €5,550 | €3,202 | -€2,348 | -42.3% |
| Amounts payable within one year | 42/48 | €11,982 | €34,101 | +€22,119 | +185% |
| Current portion of amounts payable after more than one year | 42 | €4,034 | €13,124 | +€9,090 | +225% |
| Financial debts | 43 | - | €13 | +€13 | |
| Credit institutions | 430/8 | - | €13 | +€13 | |
| Trade debts | 44 | €3,961 | €4,314 | +€353 | +8.9% |
| Suppliers | 440/4 | €3,961 | €4,314 | +€353 | +8.9% |
| Taxes, remuneration and social security | 45 | €3,987 | €16,650 | +€12,663 | +318% |
| Taxes | 450/3 | €2,106 | €14,842 | +€12,736 | +605% |
| Remuneration and social security | 454/9 | €1,881 | €1,807 | -€74 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,320 | €9,607 | +€2,287 | +31.3% |
| Other operating charges | 640/8 | €906 | €1,806 | +€900 | +99.4% |
| Non-recurring operating charges | 66A | €750 | - | -€750 | |
| Gross operating margin | 9900 | €19,731 | €70,606 | +€50,876 | +258% |
| Operating profit (loss) | 9901 | €10,755 | €59,194 | +€48,438 | +450% |
| Financial income | 75/76B | €67 | €47 | -€20 | -30.1% |
| Recurring financial income | 75 | €67 | €47 | -€20 | -30.1% |
| Financial charges | 65/66B | €937 | €1,688 | +€751 | +80.1% |
| Recurring financial charges | 65 | €937 | €1,688 | +€751 | +80.1% |
| Profit (loss) for the period before taxes | 9903 | €9,885 | €57,553 | +€47,668 | +482% |
| Income taxes | 67/77 | €2,106 | €12,736 | +€10,630 | +505% |
| Profit (loss) for the period | 9904 | €7,779 | €44,816 | +€37,037 | +476% |
| Profit (loss) for the period to be appropriated | 9905 | €7,779 | €44,816 | +€37,037 | +476% |
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 14 October 2026 via checked.be.