DBM 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.
DBM PROJECTS
Largest movements
- Tangible fixed assets +€677,661
up €677,661 (+59.9%), from €1.1m to €1.8m
of which Land and buildings: +€679,232
- Cash +€29,261
up €29,261 (+80.7%), from €36,246 to €65,507
mainly Contributions, distributions and other (+€505,000) and Debts after one year (+€205,881)
- Current investments +€26,406
up €26,406 (+88.0%), from €30,000 to €56,406
- Revaluation surpluses +€405,000
new in 2025: €405,000
- Debts after one year +€205,881
up €205,881 (+24.5%), from €841,956 to €1.0m
- Contributions +€100,000
up €100,000 (+537.6%), from €18,600 to €118,600
- Other debts -€47,863
down €47,863 (-21.1%), from €226,621 to €178,758
- Reserves +€23,528
up €23,528 (+53.8%), from €43,759 to €67,287
- Gross operating margin +€49,831
up €49,831 (+46.6%), from €106,926 to €156,757
- Other operating charges +€20,825
up €20,825 (+671.3%), from €3,102 to €23,928
- Financial charges +€17,045
up €17,045 (+63.1%), from €26,997 to €44,042
- Depreciation +€6,220
up €6,220 (+12.3%), from €50,483 to €56,703
- Taxes +€1,824
up €1,824 (+24.3%), from €7,515 to €9,340
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,223,940 | €1,939,755 | +€715,815 | +58.5% |
| Fixed assets | 21/28 | €1,131,646 | €1,809,306 | +€677,661 | +59.9% |
| Tangible fixed assets | 22/27 | €1,131,646 | €1,809,306 | +€677,661 | +59.9% |
| Land and buildings | 22 | €1,130,074 | €1,809,306 | +€679,232 | +60.1% |
| Furniture and vehicles | 24 | €1,572 | €0 | -€1,572 | -100.0% |
| Current assets | 29/58 | €92,295 | €130,449 | +€38,154 | +41.3% |
| Amounts receivable within one year | 40/41 | €23,643 | €6,590 | -€17,053 | -72.1% |
| Trade receivables | 40 | €18,507 | €5,206 | -€13,300 | -71.9% |
| Other amounts receivable | 41 | €5,136 | €1,383 | -€3,753 | -73.1% |
| Current investments | 50/53 | €30,000 | €56,406 | +€26,406 | +88.0% |
| Cash at bank and in hand | 54/58 | €36,246 | €65,507 | +€29,261 | +80.7% |
| Deferred charges and accrued income | 490/1 | €2,406 | €1,946 | -€460 | -19.1% |
| Total equity and liabilities | 10/49 | €1,223,940 | €1,939,755 | +€715,815 | +58.5% |
| Equity | 10/15 | €62,359 | €590,887 | +€528,528 | +847.6% |
| Contributions | 10/11 | €18,600 | €118,600 | +€100,000 | +537.6% |
| Revaluation surpluses | 12 | - | €405,000 | +€405,000 | |
| Reserves | 13 | €43,759 | €67,287 | +€23,528 | +53.8% |
| Distributable reserves | 133 | €43,759 | €67,287 | +€23,528 | +53.8% |
| Amounts payable | 17/49 | €1,161,581 | €1,348,868 | +€187,287 | +16.1% |
| Amounts payable after more than one year | 17 | €841,956 | €1,047,837 | +€205,881 | +24.5% |
| Financial debts | 170/4 | €841,956 | €1,047,837 | +€205,881 | +24.5% |
| Amounts payable within one year | 42/48 | €319,626 | €301,031 | -€18,594 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €53,047 | €62,716 | +€9,669 | +18.2% |
| Financial debts | 43 | - | €10,000 | +€10,000 | |
| Other loans | 439 | - | €10,000 | +€10,000 | |
| Trade debts | 44 | €25,772 | €33,010 | +€7,238 | +28.1% |
| Suppliers | 440/4 | €25,772 | €33,010 | +€7,238 | +28.1% |
| Taxes, remuneration and social security | 45 | €14,186 | €16,548 | +€2,362 | +16.6% |
| Taxes | 450/3 | €14,186 | €16,548 | +€2,362 | +16.6% |
| Other amounts payable | 47/48 | €226,621 | €178,758 | -€47,863 | -21.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €3,000 | +€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,483 | €56,703 | +€6,220 | +12.3% |
| Other operating charges | 640/8 | €3,102 | €23,928 | +€20,825 | +671.3% |
| Gross operating margin | 9900 | €106,926 | €156,757 | +€49,831 | +46.6% |
| Operating profit (loss) | 9901 | €53,341 | €76,126 | +€22,785 | +42.7% |
| Financial income | 75/76B | €115 | €784 | +€669 | +581.3% |
| Recurring financial income | 75 | €115 | €784 | +€669 | +581.3% |
| Financial charges | 65/66B | €26,997 | €44,042 | +€17,045 | +63.1% |
| Recurring financial charges | 65 | €26,997 | €44,042 | +€17,045 | +63.1% |
| Profit (loss) for the period before taxes | 9903 | €26,459 | €32,868 | +€6,409 | +24.2% |
| Income taxes | 67/77 | €7,515 | €9,340 | +€1,824 | +24.3% |
| Profit (loss) for the period | 9904 | €18,944 | €23,528 | +€4,584 | +24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,944 | €23,528 | +€4,584 | +24.2% |
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 11 October 2026 via checked.be.