DECLERCQ 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.
DECLERCQ PROJECTS
Largest movements
- Receivables after one year +€16,133
up €16,133 (+103.9%), from €15,525 to €31,658
- Tangible fixed assets +€3,671
new in 2025: €3,671
- Cash -€3,338
down €3,338 (-20.1%), from €16,632 to €13,294
mainly Receivables after one year (-€16,133) and Investment in fixed assets (net) (-€4,915)
- Reserves +€13,043
up €13,043 (+81.4%), from €16,014 to €29,057
- Trade debts +€2,292
up €2,292 (+341.2%), from €672 to €2,964
- Tax, wage and social debts +€962
up €962 (+7.2%), from €13,313 to €14,275
of which Taxes: +€962
- Gross operating margin -€5,536
down €5,536 (-24.2%), from €22,847 to €17,311
- Depreciation -€1,370
down €1,370 (-52.4%), from €2,614 to €1,244
- Financial income +€808
up €808 (+154.0%), from €525 to €1,333
- Taxes -€685
down €685 (-16.5%), from €4,137 to €3,453
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 | €46,757 | €62,654 | +€15,897 | +34.0% |
| Fixed assets | 21/28 | - | €3,671 | +€3,671 | |
| Tangible fixed assets | 22/27 | - | €3,671 | +€3,671 | |
| Furniture and vehicles | 24 | - | €3,671 | +€3,671 | |
| Current assets | 29/58 | €46,757 | €58,983 | +€12,226 | +26.1% |
| Amounts receivable after more than one year | 29 | €15,525 | €31,658 | +€16,133 | +103.9% |
| Other amounts receivable | 291 | €15,525 | €31,658 | +€16,133 | +103.9% |
| Amounts receivable within one year | 40/41 | €14,399 | €13,829 | -€570 | -4.0% |
| Trade receivables | 40 | €14,399 | €11,507 | -€2,892 | -20.1% |
| Other amounts receivable | 41 | - | €2,322 | +€2,322 | |
| Cash at bank and in hand | 54/58 | €16,632 | €13,294 | -€3,338 | -20.1% |
| Deferred charges and accrued income | 490/1 | €201 | €201 | = | 0.0% |
| Total equity and liabilities | 10/49 | €46,757 | €62,654 | +€15,897 | +34.0% |
| Equity | 10/15 | €31,014 | €44,057 | +€13,043 | +42.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €16,014 | €29,057 | +€13,043 | +81.4% |
| Distributable reserves | 133 | €16,014 | €29,057 | +€13,043 | +81.4% |
| Amounts payable | 17/49 | €15,743 | €18,597 | +€2,854 | +18.1% |
| Amounts payable within one year | 42/48 | €15,343 | €18,597 | +€3,254 | +21.2% |
| Trade debts | 44 | €672 | €2,964 | +€2,292 | +341.2% |
| Suppliers | 440/4 | €672 | €2,964 | +€2,292 | +341.2% |
| Taxes, remuneration and social security | 45 | €13,313 | €14,275 | +€962 | +7.2% |
| Taxes | 450/3 | €10,513 | €11,475 | +€962 | +9.2% |
| Remuneration and social security | 454/9 | €2,800 | €2,800 | = | 0.0% |
| Other amounts payable | 47/48 | €1,359 | €1,359 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €400 | €0 | -€400 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,614 | €1,244 | -€1,370 | -52.4% |
| Other operating charges | 640/8 | €387 | €528 | +€140 | +36.2% |
| Gross operating margin | 9900 | €22,847 | €17,311 | -€5,536 | -24.2% |
| Operating profit (loss) | 9901 | €19,846 | €15,539 | -€4,307 | -21.7% |
| Financial income | 75/76B | €525 | €1,333 | +€808 | +154.0% |
| Recurring financial income | 75 | €525 | €1,333 | +€808 | +154.0% |
| Financial charges | 65/66B | €220 | €377 | +€157 | +71.3% |
| Recurring financial charges | 65 | €220 | €377 | +€157 | +71.3% |
| Profit (loss) for the period before taxes | 9903 | €20,151 | €16,496 | -€3,656 | -18.1% |
| Income taxes | 67/77 | €4,137 | €3,453 | -€685 | -16.5% |
| Profit (loss) for the period | 9904 | €16,014 | €13,043 | -€2,971 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,014 | €13,043 | -€2,971 | -18.6% |
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.