DARC 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
DARC PROJECTS
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€139,641
2024 · -€138,998+€278,640
Equity
€2.0m
2024 · €1.9m+€139,641
Cash
€6
2024 · €2,833-€2,828
Balance sheet total
€5.0m
2024 · €7.3m-€2.2m
Largest movements
Assets
- Stocks and contracts -€2.7m
down €2.7m (-37.8%), from €7.2m to €4.5m
- Receivables after one year +€507,712
new in 2025: €507,712
Equity and liabilities
- Short-term financial debts -€1.3m
down €1.3m (-30.3%), from €4.3m to €3.0m
- Debts after one year -€1.0m
down €1.0m (-100.0%), from €1.0m to €0
- Profit (loss) carried forward +€139,606
up €139,606, from -€138,998 to €608
Income statement
- Financial charges -€464,639
down €464,639 (-77.6%), from €598,493 to €133,854
- Gross operating margin -€183,639
down €183,639 (-39.9%), from €460,415 to €276,776
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
-€138,998
Gross operating margin
-€183,639
Depreciation
-€878
Other operating charges
+€522
Financial income
+€196
Financial charges
+€464,639
Taxes
-€2,200
Result 2025
€139,641
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
+€2.4m
Investment
-€5,808
Financing
-€2.4m
Cash 2024
€2,833
From operations (derived)
+€2.4m
Net result for the year
+€139,641
Depreciation
+€878
Receivables after one year
-€507,712
Stocks and contracts
+€2.7m
Receivables within one year
-€28,761
Deferred charges and accrued income
+€44,920
Trade debts
-€9,381
Smaller working-capital items
-€1,958
Investment (derived)
-€5,808
Investment in fixed assets (net)
-€5,808
Financing
-€2.4m
Debts after one year
-€1.0m
Short-term financial debts
-€1.3m
Cash 2025
€6
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,256,070 | €5,029,426 | -€2.2m | -30.7% |
| Fixed assets | 21/28 | - | €4,930 | +€4,930 | |
| Tangible fixed assets | 22/27 | - | €4,930 | +€4,930 | |
| Furniture and vehicles | 24 | - | €4,930 | +€4,930 | |
| Current assets | 29/58 | €7,256,070 | €5,024,496 | -€2.2m | -30.8% |
| Amounts receivable after more than one year | 29 | - | €507,712 | +€507,712 | |
| Other amounts receivable | 291 | - | €507,712 | +€507,712 | |
| Stocks and contracts in progress | 3 | €7,196,170 | €4,475,870 | -€2.7m | -37.8% |
| Stocks | 30/36 | €7,196,170 | €4,475,870 | -€2.7m | -37.8% |
| Amounts receivable within one year | 40/41 | €7,664 | €36,425 | +€28,761 | +375.3% |
| Trade receivables | 40 | €7,664 | €9,100 | +€1,436 | +18.7% |
| Other amounts receivable | 41 | - | €27,325 | +€27,325 | |
| Cash at bank and in hand | 54/58 | €2,833 | €6 | -€2,828 | -99.8% |
| Deferred charges and accrued income | 490/1 | €49,403 | €4,483 | -€44,920 | -90.9% |
| Total equity and liabilities | 10/49 | €7,256,070 | €5,029,426 | -€2.2m | -30.7% |
| Equity | 10/15 | €1,861,002 | €2,000,643 | +€139,641 | +7.5% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Capital | 10 | €2,000,000 | €2,000,000 | = | 0.0% |
| Issued capital | 100 | €2,000,000 | €2,000,000 | = | 0.0% |
| Reserves | 13 | - | €35 | +€35 | |
| Non-distributable reserves | 130/1 | - | €35 | +€35 | |
| Legal reserve | 130 | - | €35 | +€35 | |
| Profit (loss) carried forward | 14 | -€138,998 | €608 | +€139,606 | |
| Amounts payable | 17/49 | €5,395,069 | €3,028,783 | -€2.4m | -43.9% |
| Amounts payable after more than one year | 17 | €1,047,038 | €0 | -€1.0m | -100.0% |
| Financial debts | 170/4 | €1,047,038 | €0 | -€1.0m | -100.0% |
| Amounts payable within one year | 42/48 | €4,342,459 | €3,026,432 | -€1.3m | -30.3% |
| Financial debts | 43 | €4,323,340 | €3,015,430 | -€1.3m | -30.3% |
| Credit institutions | 430/8 | €4,323,340 | €3,015,430 | -€1.3m | -30.3% |
| Trade debts | 44 | €13,974 | €4,594 | -€9,381 | -67.1% |
| Suppliers | 440/4 | €13,974 | €4,594 | -€9,381 | -67.1% |
| Taxes, remuneration and social security | 45 | - | €2,200 | +€2,200 | |
| Taxes | 450/3 | - | €2,200 | +€2,200 | |
| Other amounts payable | 47/48 | €5,145 | €4,208 | -€936 | -18.2% |
| Accrued charges and deferred income | 492/3 | €5,573 | €2,351 | -€3,221 | -57.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €878 | +€878 | |
| Other operating charges | 640/8 | €922 | €400 | -€522 | -56.6% |
| Gross operating margin | 9900 | €460,415 | €276,776 | -€183,639 | -39.9% |
| Operating profit (loss) | 9901 | €459,493 | €275,499 | -€183,995 | -40.0% |
| Financial income | 75/76B | €1 | €197 | +€196 | +26463.5% |
| Recurring financial income | 75 | €1 | €197 | +€196 | +26463.5% |
| Financial charges | 65/66B | €598,493 | €133,854 | -€464,639 | -77.6% |
| Recurring financial charges | 65 | €598,493 | €133,854 | -€464,639 | -77.6% |
| Profit (loss) for the period before taxes | 9903 | -€138,998 | €141,841 | +€280,840 | |
| Income taxes | 67/77 | - | €2,200 | +€2,200 | |
| Profit (loss) for the period | 9904 | -€138,998 | €139,641 | +€278,640 | |
| Profit (loss) for the period to be appropriated | 9905 | -€138,998 | €139,641 | +€278,640 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.