DF 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.
DF Projects
Largest movements
- Cash -€46,307
down €46,307 (-97.4%), from €47,549 to €1,242
mainly Contributions, distributions and other (-€43,000) and Receivables within one year (-€14,805)
- Receivables within one year +€14,805
up €14,805 (+116.7%), from €12,690 to €27,495
of which Trade receivables: +€14,099
- Tangible fixed assets -€3,257
down €3,257 (-36.1%), from €9,026 to €5,769
- Profit (loss) carried forward -€28,095
down €28,095 (-64.4%), from €43,592 to €15,497
- Tax, wage and social debts -€6,963
down €6,963 (-53.3%), from €13,053 to €6,090
- Other debts -€1,808
down €1,808 (-23.2%), from €7,775 to €5,967
- Trade debts +€1,759
up €1,759 (+458.1%), from €384 to €2,143
- Gross operating margin -€12,994
down €12,994 (-35.7%), from €36,374 to €23,380
- Taxes -€2,527
down €2,527 (-37.0%), from €6,820 to €4,294
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 | €69,803 | €34,697 | -€35,106 | -50.3% |
| Fixed assets | 21/28 | €9,026 | €5,769 | -€3,257 | -36.1% |
| Tangible fixed assets | 22/27 | €9,026 | €5,769 | -€3,257 | -36.1% |
| Furniture and vehicles | 24 | €9,026 | €5,769 | -€3,257 | -36.1% |
| Current assets | 29/58 | €60,777 | €28,928 | -€31,849 | -52.4% |
| Amounts receivable within one year | 40/41 | €12,690 | €27,495 | +€14,805 | +116.7% |
| Trade receivables | 40 | €12,690 | €26,789 | +€14,099 | +111.1% |
| Other amounts receivable | 41 | - | €706 | +€706 | |
| Cash at bank and in hand | 54/58 | €47,549 | €1,242 | -€46,307 | -97.4% |
| Deferred charges and accrued income | 490/1 | €538 | €191 | -€347 | -64.5% |
| Total equity and liabilities | 10/49 | €69,803 | €34,697 | -€35,106 | -50.3% |
| Equity | 10/15 | €48,592 | €20,497 | -€28,095 | -57.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,592 | €15,497 | -€28,095 | -64.4% |
| Amounts payable | 17/49 | €21,211 | €14,200 | -€7,012 | -33.1% |
| Amounts payable within one year | 42/48 | €21,211 | €14,200 | -€7,012 | -33.1% |
| Trade debts | 44 | €384 | €2,143 | +€1,759 | +458.1% |
| Suppliers | 440/4 | €384 | €2,143 | +€1,759 | +458.1% |
| Taxes, remuneration and social security | 45 | €13,053 | €6,090 | -€6,963 | -53.3% |
| Taxes | 450/3 | €13,053 | €6,090 | -€6,963 | -53.3% |
| Other amounts payable | 47/48 | €7,775 | €5,967 | -€1,808 | -23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,329 | €3,257 | -€72 | -2.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €36,374 | €23,380 | -€12,994 | -35.7% |
| Operating profit (loss) | 9901 | €32,658 | €19,723 | -€12,935 | -39.6% |
| Financial income | 75/76B | €160 | €1 | -€159 | -99.5% |
| Recurring financial income | 75 | €160 | €1 | -€159 | -99.5% |
| Financial charges | 65/66B | €683 | €525 | -€158 | -23.2% |
| Recurring financial charges | 65 | €683 | €525 | -€158 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €32,135 | €19,199 | -€12,936 | -40.3% |
| Income taxes | 67/77 | €6,820 | €4,294 | -€2,527 | -37.0% |
| Profit (loss) for the period | 9904 | €25,314 | €14,905 | -€10,409 | -41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,314 | €14,905 | -€10,409 | -41.1% |
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 6 October 2026 via checked.be.