DAR-Projects: what changed
Two fiscal 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
DAR-Projects
NACE 46.341, Wholesale of wines and spirits
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1,015
2024 · -€27,928+€28,944
Equity
€1.1m
2024 · €1.1m-€13,270
Cash
€11,509
2024 · €19,267-€7,758
Balance sheet total
€1.9m
2024 · €2.0m-€75,847
Largest movements
Assets
- Tangible fixed assets -€70,305
down €70,305 (-3.8%), from €1.8m to €1.8m
of which Land and buildings: -€69,939
Equity and liabilities
- Debts after one year -€34,089
down €34,089 (-4.5%), from €754,561 to €720,472
Income statement
- Gross operating margin +€66,212
up €66,212 (+261.6%), from €25,309 to €91,520
- Depreciation +€14,986
up €14,986 (+26.6%), from €56,287 to €71,273
- Financial charges +€13,970
up €13,970 (+682.6%), from €2,047 to €16,017
- Financial income -€6,333
down €6,333 (-80.4%), from €7,876 to €1,543
- Other operating charges +€1,341
up €1,341 (+26.7%), from €5,018 to €6,358
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
-€27,928
Gross operating margin
+€66,212
Depreciation
-€14,986
Other operating charges
-€1,341
Other operating items
+€497
Financial income
-€6,333
Financial charges
-€13,970
Taxes
-€1,135
Result 2025
€1,015
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
+€44,304
Investment
-€2,042
Financing
-€50,019
Cash 2024
€19,267
From operations (derived)
+€44,304
Net result for the year
+€1,015
Depreciation
+€71,273
Stocks and contracts
-€3,147
Receivables within one year
+€1,943
Smaller working-capital items
+€17
Provisions
-€3,231
Trade debts
-€5,210
Tax, wage and social debts
-€4,772
Other debts
-€13,584
Investment (derived)
-€2,042
Investment in fixed assets (net)
-€968
Current investments
-€1,074
Financing
-€50,019
Debts after one year
-€34,089
Current portion of long-term debt
-€1,645
Contributions, distributions and other
-€14,286
Cash 2025
€11,509
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,008,160 | €1,932,312 | -€75,847 | -3.8% |
| Fixed assets | 21/28 | €1,844,487 | €1,774,182 | -€70,305 | -3.8% |
| Tangible fixed assets | 22/27 | €1,844,487 | €1,774,182 | -€70,305 | -3.8% |
| Land and buildings | 22 | €1,837,508 | €1,767,568 | -€69,939 | -3.8% |
| Plant, machinery and equipment | 23 | €1,336 | €1,492 | +€156 | +11.6% |
| Furniture and vehicles | 24 | €147 | €81 | -€65 | -44.6% |
| Other tangible fixed assets | 26 | €5,497 | €5,041 | -€456 | -8.3% |
| Current assets | 29/58 | €163,672 | €158,130 | -€5,542 | -3.4% |
| Stocks and contracts in progress | 3 | €890 | €4,037 | +€3,147 | +353.5% |
| Stocks | 30/36 | €890 | €4,037 | +€3,147 | +353.5% |
| Amounts receivable within one year | 40/41 | €27,198 | €25,255 | -€1,943 | -7.1% |
| Trade receivables | 40 | €1,716 | - | -€1,716 | |
| Other amounts receivable | 41 | €25,481 | €25,255 | -€227 | -0.9% |
| Current investments | 50/53 | €112,523 | €113,597 | +€1,074 | +1.0% |
| Cash at bank and in hand | 54/58 | €19,267 | €11,509 | -€7,758 | -40.3% |
| Deferred charges and accrued income | 490/1 | €3,795 | €3,733 | -€63 | -1.6% |
| Total equity and liabilities | 10/49 | €2,008,160 | €1,932,312 | -€75,847 | -3.8% |
| Equity | 10/15 | €1,094,341 | €1,081,071 | -€13,270 | -1.2% |
| Contributions | 10/11 | €494,036 | €494,036 | = | 0.0% |
| Capital | 10 | €494,036 | €494,036 | = | 0.0% |
| Issued capital | 100 | €494,036 | €494,036 | = | 0.0% |
| Reserves | 13 | €319,172 | €320,188 | +€1,015 | +0.3% |
| Non-distributable reserves | 130/1 | €39,627 | €40,230 | +€603 | +1.5% |
| Legal reserve | 130 | €39,627 | €40,230 | +€603 | +1.5% |
| Tax-exempt reserves | 132 | €258,999 | €249,051 | -€9,948 | -3.8% |
| Distributable reserves | 133 | €20,546 | €30,907 | +€10,360 | +50.4% |
| Profit (loss) carried forward | 14 | €281,134 | €266,848 | -€14,286 | -5.1% |
| Provisions and deferred taxes | 16 | €84,878 | €81,646 | -€3,231 | -3.8% |
| Deferred taxes | 168 | €84,878 | €81,646 | -€3,231 | -3.8% |
| Amounts payable | 17/49 | €828,940 | €769,595 | -€59,346 | -7.2% |
| Amounts payable after more than one year | 17 | €754,561 | €720,472 | -€34,089 | -4.5% |
| Financial debts | 170/4 | €754,561 | €720,472 | -€34,089 | -4.5% |
| Amounts payable within one year | 42/48 | €70,373 | €45,162 | -€25,211 | -35.8% |
| Current portion of amounts payable after more than one year | 42 | €34,933 | €33,289 | -€1,645 | -4.7% |
| Trade debts | 44 | €8,911 | €3,701 | -€5,210 | -58.5% |
| Suppliers | 440/4 | €8,911 | €3,701 | -€5,210 | -58.5% |
| Taxes, remuneration and social security | 45 | €7,141 | €2,369 | -€4,772 | -66.8% |
| Taxes | 450/3 | €7,141 | €2,369 | -€4,772 | -66.8% |
| Other amounts payable | 47/48 | €19,388 | €5,804 | -€13,584 | -70.1% |
| Accrued charges and deferred income | 492/3 | €4,007 | €3,961 | -€46 | -1.1% |
| Non-recurring operating income | 76A | €513 | €1,700 | +€1,187 | +231.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,287 | €71,273 | +€14,986 | +26.6% |
| Other operating charges | 640/8 | €5,018 | €6,358 | +€1,341 | +26.7% |
| Non-recurring operating charges | 66A | €685 | €188 | -€497 | -72.6% |
| Gross operating margin | 9900 | €25,309 | €91,520 | +€66,212 | +261.6% |
| Operating profit (loss) | 9901 | -€36,681 | €13,701 | +€50,382 | |
| Financial income | 75/76B | €7,876 | €1,543 | -€6,333 | -80.4% |
| Recurring financial income | 75 | €7,876 | €1,543 | -€6,333 | -80.4% |
| Financial charges | 65/66B | €2,047 | €16,017 | +€13,970 | +682.6% |
| Recurring financial charges | 65 | €2,047 | €16,017 | +€13,970 | +682.6% |
| Profit (loss) for the period before taxes | 9903 | -€30,852 | -€773 | +€30,078 | +97.5% |
| Transfer from deferred taxes | 780 | €3,231 | €3,231 | = | 0.0% |
| Income taxes | 67/77 | €308 | €1,442 | +€1,135 | +368.8% |
| Profit (loss) for the period | 9904 | -€27,928 | €1,015 | +€28,944 | |
| Transfer from tax-exempt reserves | 789 | €9,948 | €9,948 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,981 | €10,963 | +€28,944 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.