DANNEELS PROJECTS: 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.
What changed
DANNEELS PROJECTS
NACE 68.310, Real estate agency activities
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.2m
2024 · -€506,795+€2.8m
Equity
€31.3m
2024 · €31.0m+€245,936
Cash
€762,875
2024 · €1.9m-€1.1m
Balance sheet total
€88.1m
2024 · €102.7m-€14.7m
Largest movements
Assets
- Stocks and contracts -€9.5m
down €9.5m (-10.4%), from €90.8m to €81.3m
- Receivables within one year -€3.9m
down €3.9m (-43.1%), from €9.1m to €5.2m
of which Trade receivables: -€4.0m
- Cash -€1.1m
down €1.1m (-59.2%), from €1.9m to €762,875
mainly Short-term financial debts (-€10.3m) and Debts after one year (-€3.2m)
Equity and liabilities
- Short-term financial debts -€10.3m
down €10.3m (-83.7%), from €12.4m to €2.0m
- Debts after one year -€3.2m
down €3.2m (-7.7%), from €41.2m to €38.0m
- Other debts -€1.4m
down €1.4m (-9.2%), from €15.6m to €14.2m
Income statement
- Turnover +€3.7m
up €3.7m (+22.0%), from €16.7m to €20.3m
- Goods and materials +€2.4m
up €2.4m (+19.6%), from €12.2m to €14.6m
of which Change in stocks: decrease (increase): +€8.9m
- Other operating charges -€1.5m
down €1.5m (-92.8%), from €1.6m to €116,923
- Taxes +€603,515
up €603,515 (+77635.5%), from €777 to €604,293
- Services and other goods -€344,662
down €344,662 (-19.3%), from €1.8m to €1.4m
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.
Result 2024
-€506,795
Turnover
+€3.7m
Other operating income
-€6,322
Goods and materials
-€2.4m
Services and other goods
+€344,662
Staff costs
+€230,146
Depreciation
+€21,211
Provisions
-€103,799
Other operating charges
+€1.5m
Other operating items
+€2,153
Financial income
-€12,042
Financial charges
+€121,159
Taxes
-€603,515
Result 2025
€2.2m
Cash bridge derived
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.
From operations
+€14.4m
Investment
-€1,191
Financing
-€15.5m
Cash 2024
€1.9m
From operations (derived)
+€14.4m
Net result for the year
+€2.2m
Depreciation
+€22,988
Stocks and contracts
+€9.5m
Receivables within one year
+€3.9m
Deferred charges and accrued income
+€129,035
Trade debts
+€546,226
Tax, wage and social debts
-€60,913
Other debts
-€1.4m
Accrued charges and deferred income
-€402,917
Investment (derived)
-€1,191
Investment in fixed assets (net)
-€1,191
Financing
-€15.5m
Debts after one year
-€3.2m
Current portion of long-term debt
-€48,750
Short-term financial debts
-€10.3m
Contributions, distributions and other
-€2.0m
Cash 2025
€762,875
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €102,709,613 | €88,050,170 | -€14.7m | -14.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €768,109 | €746,312 | -€21,797 | -2.8% |
| Tangible fixed assets | 22/27 | €767,109 | €729,580 | -€37,530 | -4.9% |
| Land and buildings | 22 | €730,243 | €712,660 | -€17,583 | -2.4% |
| Plant, machinery and equipment | 23 | €7,805 | €6,415 | -€1,389 | -17.8% |
| Furniture and vehicles | 24 | €29,061 | €10,505 | -€18,557 | -63.9% |
| Financial fixed assets | 28 | €1,000 | €16,732 | +€15,732 | +1573.2% |
| Other financial fixed assets | 284/8 | €1,000 | €16,732 | +€15,732 | +1573.2% |
| Amounts receivable and cash guarantees | 285/8 | €1,000 | €16,732 | +€15,732 | +1573.2% |
| Current assets | 29/58 | €101,941,504 | €87,303,858 | -€14.6m | -14.4% |
| Stocks and contracts in progress | 3 | €90,779,513 | €81,298,220 | -€9.5m | -10.4% |
| Stocks | 30/36 | €90,779,513 | €81,298,220 | -€9.5m | -10.4% |
| Property held for sale | 35 | €90,779,513 | €81,298,220 | -€9.5m | -10.4% |
| Amounts receivable within one year | 40/41 | €9,099,407 | €5,179,256 | -€3.9m | -43.1% |
| Trade receivables | 40 | €8,096,186 | €4,051,427 | -€4.0m | -50.0% |
| Other amounts receivable | 41 | €1,003,221 | €1,127,829 | +€124,608 | +12.4% |
| Cash at bank and in hand | 54/58 | €1,870,041 | €762,875 | -€1.1m | -59.2% |
| Deferred charges and accrued income | 490/1 | €192,543 | €63,508 | -€129,035 | -67.0% |
| Total equity and liabilities | 10/49 | €102,709,613 | €88,050,170 | -€14.7m | -14.3% |
| Equity | 10/15 | €31,011,306 | €31,257,242 | +€245,936 | +0.8% |
| Contributions | 10/11 | €5,350,000 | €5,350,000 | = | 0.0% |
| Capital | 10 | €5,350,000 | €5,350,000 | = | 0.0% |
| Issued capital | 100 | €5,350,000 | €5,350,000 | = | 0.0% |
| Reserves | 13 | €25,650,000 | €25,885,000 | +€235,000 | +0.9% |
| Non-distributable reserves | 130/1 | €535,000 | €535,000 | = | 0.0% |
| Legal reserve | 130 | €535,000 | €535,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,350,000 | €8,350,000 | = | 0.0% |
| Distributable reserves | 133 | €16,765,000 | €17,000,000 | +€235,000 | +1.4% |
| Profit (loss) carried forward | 14 | €11,306 | €22,242 | +€10,936 | +96.7% |
| Amounts payable | 17/49 | €71,698,308 | €56,792,928 | -€14.9m | -20.8% |
| Amounts payable after more than one year | 17 | €41,163,265 | €38,000,000 | -€3.2m | -7.7% |
| Financial debts | 170/4 | €41,163,265 | €38,000,000 | -€3.2m | -7.7% |
| Credit institutions | 173 | €41,163,265 | €38,000,000 | -€3.2m | -7.7% |
| Amounts payable within one year | 42/48 | €30,121,570 | €18,782,373 | -€11.3m | -37.6% |
| Current portion of amounts payable after more than one year | 42 | €48,750 | - | -€48,750 | |
| Financial debts | 43 | €12,353,601 | €2,016,826 | -€10.3m | -83.7% |
| Credit institutions | 430/8 | €12,353,601 | €2,016,826 | -€10.3m | -83.7% |
| Trade debts | 44 | €1,967,904 | €2,514,130 | +€546,226 | +27.8% |
| Suppliers | 440/4 | €1,967,904 | €2,514,130 | +€546,226 | +27.8% |
| Taxes, remuneration and social security | 45 | €131,122 | €70,210 | -€60,913 | -46.5% |
| Taxes | 450/3 | €119,074 | €42,344 | -€76,730 | -64.4% |
| Remuneration and social security | 454/9 | €12,048 | €27,866 | +€15,818 | +131.3% |
| Other amounts payable | 47/48 | €15,620,192 | €14,181,207 | -€1.4m | -9.2% |
| Accrued charges and deferred income | 492/3 | €413,472 | €10,555 | -€402,917 | -97.4% |
| Operating income | 70/76A | €16,820,557 | €20,478,463 | +€3.7m | +21.7% |
| Turnover | 70 | €16,657,838 | €20,315,122 | +€3.7m | +22.0% |
| Other operating income | 74 | €159,414 | €153,091 | -€6,322 | -4.0% |
| Non-recurring operating income | 76A | €3,306 | €10,250 | +€6,944 | +210.1% |
| Operating charges | 60/66A | €16,021,308 | €16,432,084 | +€410,776 | +2.6% |
| Goods for resale, raw materials and consumables | 60 | €12,241,205 | €14,638,161 | +€2.4m | +19.6% |
| Purchases | 600/8 | €11,646,423 | €5,156,868 | -€6.5m | -55.7% |
| Change in stocks: decrease (increase) | 609 | €594,782 | €9,481,293 | +€8.9m | +1494.1% |
| Services and other goods | 61 | €1,788,469 | €1,443,807 | -€344,662 | -19.3% |
| Remuneration, social security and pensions | 62 | €435,560 | €205,413 | -€230,146 | -52.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,199 | €22,988 | -€21,211 | -48.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€103,799 | - | +€103,799 | |
| Other operating charges | 640/8 | €1,615,674 | €116,923 | -€1.5m | -92.8% |
| Non-recurring operating charges | 66A | - | €4,791 | +€4,791 | |
| Operating profit (loss) | 9901 | €799,249 | €4,046,379 | +€3.2m | +406.3% |
| Financial income | 75/76B | €31,774 | €19,732 | -€12,042 | -37.9% |
| Recurring financial income | 75 | €31,774 | €19,732 | -€12,042 | -37.9% |
| Income from current assets | 751 | €31,774 | €19,714 | -€12,060 | -38.0% |
| Other financial income | 752/9 | - | €18 | +€18 | |
| Financial charges | 65/66B | €1,337,041 | €1,215,882 | -€121,159 | -9.1% |
| Recurring financial charges | 65 | €1,337,041 | €1,215,882 | -€121,159 | -9.1% |
| Debt charges | 650 | €1,336,974 | €1,215,768 | -€121,206 | -9.1% |
| Other financial charges | 652/9 | €67 | €114 | +€48 | +71.2% |
| Profit (loss) for the period before taxes | 9903 | -€506,018 | €2,850,229 | +€3.4m | |
| Income taxes | 67/77 | €777 | €604,293 | +€603,515 | +77635.5% |
| Taxes | 670/3 | €777 | €604,293 | +€603,515 | +77635.5% |
| Profit (loss) for the period | 9904 | -€506,795 | €2,245,936 | +€2.8m | |
| Profit (loss) for the period to be appropriated | 9905 | -€506,795 | €2,245,936 | +€2.8m |
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 10 October 2026 via checked.be.