De Graaf 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.
De Graaf Projects
Largest movements
- Tangible fixed assets -€7,000
down €7,000 (-32.4%), from €21,582 to €14,583
- Cash +€6,519
up €6,519 (+135.6%), from €4,807 to €11,326
mainly Net result for the year (+€9,399) and Depreciation (+€8,000)
- Receivables within one year -€4,652
down €4,652 (-47.3%), from €9,845 to €5,193
of which Trade receivables: -€3,521
- Deferred charges and accrued income -€1,632
down €1,632 (-100.0%), from €1,632 to €0
- Stocks and contracts +€1,250
up €1,250 (+250.0%), from €500 to €1,750
- Debts after one year -€8,656
down €8,656 (-77.7%), from €11,134 to €2,477
- Profit (loss) carried forward +€6,922
up €6,922, from -€6,922 to €0
- Trade debts -€5,528
down €5,528 (-100.0%), from €5,528 to €0
- Reserves +€2,477
up €2,477 (+28.2%), from €8,768 to €11,245
- Tax, wage and social debts -€1,960
down €1,960 (-39.3%), from €4,992 to €3,032
of which Taxes: -€2,460
- Gross operating margin +€17,442
up €17,442 (+589.3%), from €2,960 to €20,402
- Financial charges +€1,282
up €1,282 (+183.0%), from €701 to €1,983
- Other operating charges -€794
down €794 (-67.2%), from €1,182 to €388
- Taxes +€632
up €632, from €0 to €632
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 | €41,449 | €34,934 | -€6,514 | -15.7% |
| Fixed assets | 21/28 | €24,666 | €16,666 | -€8,000 | -32.4% |
| Intangible fixed assets | 21 | €3,083 | €2,083 | -€1,000 | -32.4% |
| Tangible fixed assets | 22/27 | €21,582 | €14,583 | -€7,000 | -32.4% |
| Furniture and vehicles | 24 | €21,582 | €14,583 | -€7,000 | -32.4% |
| Current assets | 29/58 | €16,783 | €18,269 | +€1,485 | +8.9% |
| Stocks and contracts in progress | 3 | €500 | €1,750 | +€1,250 | +250.0% |
| Stocks | 30/36 | €500 | €1,750 | +€1,250 | +250.0% |
| Amounts receivable within one year | 40/41 | €9,845 | €5,193 | -€4,652 | -47.3% |
| Trade receivables | 40 | €7,768 | €4,247 | -€3,521 | -45.3% |
| Other amounts receivable | 41 | €2,077 | €946 | -€1,131 | -54.5% |
| Cash at bank and in hand | 54/58 | €4,807 | €11,326 | +€6,519 | +135.6% |
| Deferred charges and accrued income | 490/1 | €1,632 | €0 | -€1,632 | -100.0% |
| Total equity and liabilities | 10/49 | €41,449 | €34,934 | -€6,514 | -15.7% |
| Equity | 10/15 | €4,846 | €14,245 | +€9,399 | +194.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €8,768 | €11,245 | +€2,477 | +28.2% |
| Distributable reserves | 133 | €8,768 | €11,245 | +€2,477 | +28.2% |
| Profit (loss) carried forward | 14 | -€6,922 | €0 | +€6,922 | |
| Amounts payable | 17/49 | €36,603 | €20,690 | -€15,913 | -43.5% |
| Amounts payable after more than one year | 17 | €11,134 | €2,477 | -€8,656 | -77.7% |
| Financial debts | 170/4 | €11,134 | €2,477 | -€8,656 | -77.7% |
| Amounts payable within one year | 42/48 | €25,469 | €18,212 | -€7,257 | -28.5% |
| Current portion of amounts payable after more than one year | 42 | €8,520 | €8,656 | +€136 | +1.6% |
| Trade debts | 44 | €5,528 | €0 | -€5,528 | -100.0% |
| Suppliers | 440/4 | €5,528 | €0 | -€5,528 | -100.0% |
| Taxes, remuneration and social security | 45 | €4,992 | €3,032 | -€1,960 | -39.3% |
| Taxes | 450/3 | €3,992 | €1,532 | -€2,460 | -61.6% |
| Remuneration and social security | 454/9 | €1,000 | €1,500 | +€500 | +50.0% |
| Other amounts payable | 47/48 | €6,429 | €6,524 | +€95 | +1.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,000 | €8,000 | = | 0.0% |
| Other operating charges | 640/8 | €1,182 | €388 | -€794 | -67.2% |
| Gross operating margin | 9900 | €2,960 | €20,402 | +€17,442 | +589.3% |
| Operating profit (loss) | 9901 | -€6,222 | €12,015 | +€18,236 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €701 | €1,983 | +€1,282 | +183.0% |
| Recurring financial charges | 65 | €701 | €1,983 | +€1,282 | +183.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,922 | €10,032 | +€16,954 | |
| Income taxes | 67/77 | €0 | €632 | +€632 | |
| Profit (loss) for the period | 9904 | -€6,922 | €9,399 | +€16,322 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,922 | €9,399 | +€16,322 |
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 8 October 2026 via checked.be.