Dare 2 Build: 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
Dare 2 Build
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2,351
2024 · €483,117-€480,766
Equity
€3.3m
2024 · €3.3m+€2,351
Cash
€642,183
2024 · €369,610+€272,572
Balance sheet total
€23.5m
2024 · €13.8m+€9.7m
Largest movements
Assets
- Stocks and contracts +€9.9m
up €9.9m (+126%), from €7.8m to €17.7m
- Receivables within one year -€576,746
down €576,746 (-26.5%), from €2.2m to €1.6m
of which Other amounts receivable: -€368,288
- Cash +€272,572
up €272,572 (+73.7%), from €369,610 to €642,183
mainly Debts after one year (+€5.2m) and Advances received (+€1.9m)
Equity and liabilities
- Debts after one year +€5.2m
up €5.2m (+97.1%), from €5.3m to €10.5m
of which Financial debts: +€5.2m
- Advances received +€1.9m
up €1.9m (+249%), from €778,402 to €2.7m
- Trade debts +€1.3m
up €1.3m (+39.3%), from €3.3m to €4.6m
- Other debts +€1.1m
up €1.1m (+118%), from €936,501 to €2.0m
- Current portion of long-term debt +€238,485
up €238,485 (+513%), from €46,451 to €284,936
Income statement
- Gross operating margin -€594,304
down €594,304 (-57.3%), from €1.0m to €443,314
- Financial income +€173,552
up €173,552 (+206%), from €84,158 to €257,710
- Financial charges +€79,931
up €79,931 (+27.5%), from €290,677 to €370,609
- Taxes -€27,291
no longer reported in 2025 (was €27,291)
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
€483,117
Gross operating margin
-€594,304
Staff costs
-€3,402
Depreciation
-€4,018
Other operating charges
+€45
Financial income
+€173,552
Financial charges
-€79,931
Taxes
+€27,291
Result 2025
€2,351
raises the resultlowers the result
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.
From operations
-€5.0m
Investment
-€116,402
Financing
+€5.4m
Cash 2024
€369,610
From operations (derived)
-€5.0m
Net result for the year
+€2,351
Depreciation
+€45,207
Receivables after one year
-€137,502
Stocks and contracts
-€9.9m
Receivables within one year
+€576,746
Deferred charges and accrued income
+€13,327
Trade debts
+€1.3m
Tax, wage and social debts
-€36,687
Advances received
+€1.9m
Other debts
+€1.1m
Accrued charges and deferred income
+€45,706
Investment (derived)
-€116,402
Investment in fixed assets (net)
-€116,402
Financing
+€5.4m
Debts after one year
+€5.2m
Current portion of long-term debt
+€238,485
Cash 2025
€642,183
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,796,037 | €23,538,355 | +€9.7m | +70.6% |
| Fixed assets | 21/28 | €3,115,719 | €3,186,914 | +€71,196 | +2.3% |
| Intangible fixed assets | 21 | €23,605 | €12,347 | -€11,257 | -47.7% |
| Tangible fixed assets | 22/27 | €92,776 | €62,767 | -€30,010 | -32.3% |
| Land and buildings | 22 | €9,148 | €6,709 | -€2,439 | -26.7% |
| Furniture and vehicles | 24 | €76,628 | €49,058 | -€27,571 | -36.0% |
| Other tangible fixed assets | 26 | €7,000 | €7,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,999,338 | €3,111,800 | +€112,463 | +3.7% |
| Current assets | 29/58 | €10,680,318 | €20,351,441 | +€9.7m | +90.6% |
| Amounts receivable after more than one year | 29 | €270,000 | €407,502 | +€137,502 | +50.9% |
| Other amounts receivable | 291 | €270,000 | €407,502 | +€137,502 | +50.9% |
| Stocks and contracts in progress | 3 | €7,847,399 | €17,698,520 | +€9.9m | +126% |
| Contracts in progress | 37 | €7,847,399 | €17,698,520 | +€9.9m | +126% |
| Amounts receivable within one year | 40/41 | €2,179,982 | €1,603,236 | -€576,746 | -26.5% |
| Trade receivables | 40 | €1,150,888 | €942,430 | -€208,459 | -18.1% |
| Other amounts receivable | 41 | €1,029,094 | €660,806 | -€368,288 | -35.8% |
| Cash at bank and in hand | 54/58 | €369,610 | €642,183 | +€272,572 | +73.7% |
| Deferred charges and accrued income | 490/1 | €13,327 | - | -€13,327 | |
| Total equity and liabilities | 10/49 | €13,796,037 | €23,538,355 | +€9.7m | +70.6% |
| Equity | 10/15 | €3,318,813 | €3,321,164 | +€2,351 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €373,775 | €373,775 | = | 0.0% |
| Non-distributable reserves | 130/1 | €38,995 | €38,995 | = | 0.0% |
| Reserves not available under the articles | 1311 | €38,995 | €38,995 | = | 0.0% |
| Tax-exempt reserves | 132 | €140,840 | €18,750 | -€122,090 | -86.7% |
| Distributable reserves | 133 | €193,940 | €316,030 | +€122,090 | +63.0% |
| Profit (loss) carried forward | 14 | €2,926,438 | €2,928,789 | +€2,351 | +0.1% |
| Amounts payable | 17/49 | €10,477,224 | €20,217,191 | +€9.7m | +93.0% |
| Amounts payable after more than one year | 17 | €5,305,209 | €10,458,480 | +€5.2m | +97.1% |
| Financial debts | 170/4 | €2,515,139 | €7,713,610 | +€5.2m | +207% |
| Other amounts payable | 178/9 | €2,790,070 | €2,744,870 | -€45,200 | -1.6% |
| Amounts payable within one year | 42/48 | €5,115,814 | €9,656,804 | +€4.5m | +88.8% |
| Current portion of amounts payable after more than one year | 42 | €46,451 | €284,936 | +€238,485 | +513% |
| Trade debts | 44 | €3,285,679 | €4,577,367 | +€1.3m | +39.3% |
| Suppliers | 440/4 | €3,285,679 | €4,577,367 | +€1.3m | +39.3% |
| Advances received on contracts in progress | 46 | €778,402 | €2,718,160 | +€1.9m | +249% |
| Taxes, remuneration and social security | 45 | €68,782 | €32,095 | -€36,687 | -53.3% |
| Taxes | 450/3 | €37,451 | - | -€37,451 | |
| Remuneration and social security | 454/9 | €31,331 | €32,095 | +€764 | +2.4% |
| Other amounts payable | 47/48 | €936,501 | €2,044,247 | +€1.1m | +118% |
| Accrued charges and deferred income | 492/3 | €56,201 | €101,907 | +€45,706 | +81.3% |
| Remuneration, social security and pensions | 62 | €277,122 | €280,524 | +€3,402 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,189 | €45,207 | +€4,018 | +9.8% |
| Other operating charges | 640/8 | €2,335 | €2,290 | -€45 | -1.9% |
| Non-recurring operating charges | 66A | €45 | €45 | = | 0.0% |
| Gross operating margin | 9900 | €1,037,618 | €443,314 | -€594,304 | -57.3% |
| Operating profit (loss) | 9901 | €716,927 | €115,249 | -€601,678 | -83.9% |
| Financial income | 75/76B | €84,158 | €257,710 | +€173,552 | +206% |
| Recurring financial income | 75 | €84,158 | €257,710 | +€173,552 | +206% |
| Financial charges | 65/66B | €290,677 | €370,609 | +€79,931 | +27.5% |
| Recurring financial charges | 65 | €290,677 | €370,609 | +€79,931 | +27.5% |
| Profit (loss) for the period before taxes | 9903 | €510,408 | €2,351 | -€508,057 | -99.5% |
| Income taxes | 67/77 | €27,291 | - | -€27,291 | |
| Profit (loss) for the period | 9904 | €483,117 | €2,351 | -€480,766 | -99.5% |
| Transfer from tax-exempt reserves | 789 | €126,300 | €122,090 | -€4,210 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €609,417 | €124,441 | -€484,976 | -79.6% |
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 16 October 2026 via checked.be.