Dender en Waas 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.
Dender en Waas projects
Largest movements
- Stocks and contracts +€64,000
up €64,000 (+30.5%), from €210,000 to €274,000
- Cash -€38,080
down €38,080 (-88.7%), from €42,928 to €4,848
mainly Stocks and contracts (-€64,000) and Trade debts (-€377)
- Other debts +€16,000
up €16,000 (+8.1%), from €197,573 to €213,573
- Accrued charges and deferred income +€10,758
up €10,758 (+115%), from €9,385 to €20,143
- Gross operating margin -€16,693
down €16,693 (-55.4%), from €30,114 to €13,421
- Other operating charges +€2,831
new in 2025: €2,831
- Financial income -€2,633
no longer reported in 2025 (was €2,633)
- Financial charges -€564
down €564 (-4.9%), from €11,428 to €10,864
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 | €252,928 | €278,848 | +€25,920 | +10.2% |
| Current assets | 29/58 | €252,928 | €278,848 | +€25,920 | +10.2% |
| Stocks and contracts in progress | 3 | €210,000 | €274,000 | +€64,000 | +30.5% |
| Stocks | 30/36 | €210,000 | €274,000 | +€64,000 | +30.5% |
| Cash at bank and in hand | 54/58 | €42,928 | €4,848 | -€38,080 | -88.7% |
| Total equity and liabilities | 10/49 | €252,928 | €278,848 | +€25,920 | +10.2% |
| Equity | 10/15 | €30,481 | €30,207 | -€274 | -0.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €481 | €207 | -€274 | -57.0% |
| Distributable reserves | 133 | €481 | €207 | -€274 | -57.0% |
| Amounts payable | 17/49 | €222,448 | €248,641 | +€26,194 | +11.8% |
| Amounts payable within one year | 42/48 | €213,063 | €228,498 | +€15,435 | +7.2% |
| Trade debts | 44 | €15,303 | €14,925 | -€377 | -2.5% |
| Suppliers | 440/4 | €15,303 | €14,925 | -€377 | -2.5% |
| Taxes, remuneration and social security | 45 | €187 | - | -€187 | |
| Taxes | 450/3 | €187 | - | -€187 | |
| Other amounts payable | 47/48 | €197,573 | €213,573 | +€16,000 | +8.1% |
| Accrued charges and deferred income | 492/3 | €9,385 | €20,143 | +€10,758 | +115% |
| Other operating charges | 640/8 | - | €2,831 | +€2,831 | |
| Gross operating margin | 9900 | €30,114 | €13,421 | -€16,693 | -55.4% |
| Operating profit (loss) | 9901 | €30,114 | €10,590 | -€19,524 | -64.8% |
| Financial income | 75/76B | €2,633 | - | -€2,633 | |
| Recurring financial income | 75 | €2,633 | - | -€2,633 | |
| Financial charges | 65/66B | €11,428 | €10,864 | -€564 | -4.9% |
| Recurring financial charges | 65 | €11,428 | €10,864 | -€564 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €21,319 | -€274 | -€21,593 | |
| Income taxes | 67/77 | €187 | - | -€187 | |
| Profit (loss) for the period | 9904 | €21,131 | -€274 | -€21,405 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,131 | -€274 | -€21,405 |
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 1 November 2026 via checked.be.