De Neef 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.
De Neef Projects
Largest movements
- Receivables within one year -€30,766
down €30,766 (-78.1%), from €39,394 to €8,627
of which Trade receivables: -€18,074
- Stocks and contracts +€19,682
new in 2025: €19,682
of which Contracts in progress: +€13,310
- Tangible fixed assets +€18,014
up €18,014 (+67.1%), from €26,866 to €44,880
of which Furniture and vehicles: +€19,707
- Cash -€2,663
down €2,663 (-19.0%), from €14,002 to €11,339
mainly Investment in fixed assets (net) (-€30,000) and Stocks and contracts (-€19,682)
- Deferred charges and accrued income +€2,009
up €2,009 (+963%), from €209 to €2,217
- Debts after one year +€17,578
new in 2025: €17,578
- Tax, wage and social debts -€13,475
down €13,475 (-56.0%), from €24,061 to €10,586
of which Taxes: -€11,712
- Profit (loss) carried forward -€10,433
new in 2025: -€10,433
- Current portion of long-term debt +€7,098
new in 2025: €7,098
- Other debts +€3,687
new in 2025: €3,687
- Gross operating margin -€32,798
down €32,798 (-81.1%), from €40,430 to €7,633
- Taxes -€8,751
down €8,751 (-100%), from €8,751 to €0
- Depreciation +€4,774
up €4,774 (+66.2%), from €7,212 to €11,986
- Other operating charges +€2,509
up €2,509 (+455%), from €551 to €3,060
- Staff costs +€1,799
up €1,799 (+639%), from €281 to €2,080
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €80,470 | €86,746 | +€6,276 | +7.8% |
| Fixed assets | 21/28 | €26,866 | €44,880 | +€18,014 | +67.1% |
| Tangible fixed assets | 22/27 | €26,866 | €44,880 | +€18,014 | +67.1% |
| Plant, machinery and equipment | 23 | €6,383 | €4,690 | -€1,693 | -26.5% |
| Furniture and vehicles | 24 | €20,483 | €40,190 | +€19,707 | +96.2% |
| Current assets | 29/58 | €53,604 | €41,866 | -€11,738 | -21.9% |
| Stocks and contracts in progress | 3 | - | €19,682 | +€19,682 | |
| Stocks | 30/36 | - | €6,372 | +€6,372 | |
| Contracts in progress | 37 | - | €13,310 | +€13,310 | |
| Amounts receivable within one year | 40/41 | €39,394 | €8,627 | -€30,766 | -78.1% |
| Trade receivables | 40 | €20,784 | €2,710 | -€18,074 | -87.0% |
| Other amounts receivable | 41 | €18,609 | €5,917 | -€12,692 | -68.2% |
| Cash at bank and in hand | 54/58 | €14,002 | €11,339 | -€2,663 | -19.0% |
| Deferred charges and accrued income | 490/1 | €209 | €2,217 | +€2,009 | +963% |
| Total equity and liabilities | 10/49 | €80,470 | €86,746 | +€6,276 | +7.8% |
| Equity | 10/15 | €47,089 | €36,656 | -€10,433 | -22.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €42,089 | €42,089 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €500 | €500 | = | 0.0% |
| Distributable reserves | 133 | €41,589 | €41,589 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€10,433 | -€10,433 | |
| Amounts payable | 17/49 | €33,381 | €50,090 | +€16,709 | +50.1% |
| Amounts payable after more than one year | 17 | - | €17,578 | +€17,578 | |
| Financial debts | 170/4 | - | €17,578 | +€17,578 | |
| Amounts payable within one year | 42/48 | €33,381 | €32,512 | -€868 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | - | €7,098 | +€7,098 | |
| Trade debts | 44 | €9,320 | €11,141 | +€1,821 | +19.5% |
| Suppliers | 440/4 | €9,320 | €11,141 | +€1,821 | +19.5% |
| Taxes, remuneration and social security | 45 | €24,061 | €10,586 | -€13,475 | -56.0% |
| Taxes | 450/3 | €22,298 | €10,586 | -€11,712 | -52.5% |
| Remuneration and social security | 454/9 | €1,763 | €0 | -€1,763 | -100% |
| Other amounts payable | 47/48 | - | €3,687 | +€3,687 | |
| Remuneration, social security and pensions | 62 | €281 | €2,080 | +€1,799 | +639% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,212 | €11,986 | +€4,774 | +66.2% |
| Other operating charges | 640/8 | €551 | €3,060 | +€2,509 | +455% |
| Gross operating margin | 9900 | €40,430 | €7,633 | -€32,798 | -81.1% |
| Operating profit (loss) | 9901 | €32,386 | -€9,493 | -€41,879 | |
| Financial charges | 65/66B | €356 | €940 | +€584 | +164% |
| Recurring financial charges | 65 | €356 | €940 | +€584 | +164% |
| Profit (loss) for the period before taxes | 9903 | €32,030 | -€10,433 | -€42,463 | |
| Income taxes | 67/77 | €8,751 | €0 | -€8,751 | -100% |
| Profit (loss) for the period | 9904 | €23,278 | -€10,433 | -€33,711 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,278 | -€10,433 | -€33,711 |
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 26 October 2026 via checked.be.