DES 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.
DES Projects
Largest movements
- Receivables within one year -€29,528
down €29,528 (-71.8%), from €41,119 to €11,591
of which Trade receivables: -€17,322
- Cash +€16,184
up €16,184 (+195.6%), from €8,275 to €24,459
mainly Receivables within one year (+€29,528) and Net result for the year (+€13,121)
- Tangible fixed assets +€4,905
up €4,905 (+169.4%), from €2,896 to €7,801
- Deferred charges and accrued income -€1,021
down €1,021 (-100.0%), from €1,021 to €0
- Trade debts -€13,717
down €13,717 (-51.7%), from €26,522 to €12,805
- Reserves -€12,265
down €12,265 (-48.3%), from €25,386 to €13,121
- Other debts +€10,840
new in 2025: €10,840
- Tax, wage and social debts +€5,682
up €5,682 (+1412.5%), from €402 to €6,084
- Gross operating margin +€17,763
up €17,763 (+439.5%), from €4,042 to €21,806
- Taxes +€3,364
up €3,364 (+521.4%), from €645 to €4,009
- Financial income -€1,021
down €1,021 (-100.0%), from €1,021 to €0
- Other operating charges +€582
up €582 (+46.0%), from €1,267 to €1,849
- Staff costs -€317
down €317 (-85.8%), from €369 to €52
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 | €54,811 | €45,350 | -€9,460 | -17.3% |
| Fixed assets | 21/28 | €2,896 | €7,801 | +€4,905 | +169.4% |
| Tangible fixed assets | 22/27 | €2,896 | €7,801 | +€4,905 | +169.4% |
| Land and buildings | 22 | - | €1,527 | +€1,527 | |
| Plant, machinery and equipment | 23 | €1,387 | €3,203 | +€1,816 | +131.0% |
| Furniture and vehicles | 24 | €1,509 | €3,071 | +€1,562 | +103.6% |
| Current assets | 29/58 | €51,915 | €37,549 | -€14,366 | -27.7% |
| Stocks and contracts in progress | 3 | €1,500 | €1,500 | = | 0.0% |
| Stocks | 30/36 | €1,500 | €1,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €41,119 | €11,591 | -€29,528 | -71.8% |
| Trade receivables | 40 | €25,922 | €8,600 | -€17,322 | -66.8% |
| Other amounts receivable | 41 | €15,196 | €2,991 | -€12,206 | -80.3% |
| Cash at bank and in hand | 54/58 | €8,275 | €24,459 | +€16,184 | +195.6% |
| Deferred charges and accrued income | 490/1 | €1,021 | €0 | -€1,021 | -100.0% |
| Total equity and liabilities | 10/49 | €54,811 | €45,350 | -€9,460 | -17.3% |
| Equity | 10/15 | €27,886 | €15,621 | -€12,265 | -44.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €25,386 | €13,121 | -€12,265 | -48.3% |
| Distributable reserves | 133 | €25,386 | €13,121 | -€12,265 | -48.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €26,924 | €29,729 | +€2,805 | +10.4% |
| Amounts payable within one year | 42/48 | €26,924 | €29,729 | +€2,805 | +10.4% |
| Trade debts | 44 | €26,522 | €12,805 | -€13,717 | -51.7% |
| Suppliers | 440/4 | €26,522 | €12,805 | -€13,717 | -51.7% |
| Taxes, remuneration and social security | 45 | €402 | €6,084 | +€5,682 | +1412.5% |
| Taxes | 450/3 | €402 | €6,084 | +€5,682 | +1412.5% |
| Other amounts payable | 47/48 | - | €10,840 | +€10,840 | |
| Remuneration, social security and pensions | 62 | €369 | €52 | -€317 | -85.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,312 | €2,357 | +€45 | +1.9% |
| Other operating charges | 640/8 | €1,267 | €1,849 | +€582 | +46.0% |
| Gross operating margin | 9900 | €4,042 | €21,806 | +€17,763 | +439.5% |
| Operating profit (loss) | 9901 | €95 | €17,548 | +€17,453 | +18449.7% |
| Financial income | 75/76B | €1,021 | €0 | -€1,021 | -100.0% |
| Recurring financial income | 75 | €1,021 | €0 | -€1,021 | -100.0% |
| Financial charges | 65/66B | €315 | €418 | +€103 | +32.6% |
| Recurring financial charges | 65 | €315 | €418 | +€103 | +32.6% |
| Profit (loss) for the period before taxes | 9903 | €801 | €17,130 | +€16,329 | +2038.4% |
| Income taxes | 67/77 | €645 | €4,009 | +€3,364 | +521.4% |
| Profit (loss) for the period | 9904 | €156 | €13,121 | +€12,965 | +8318.5% |
| Profit (loss) for the period to be appropriated | 9905 | €156 | €13,121 | +€12,965 | +8318.5% |
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.