DHR 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.
DHR PROJECTS
Largest movements
- Receivables within one year +€552,497
up €552,497 (+81.9%), from €674,238 to €1.2m
of which Other amounts receivable: +€461,023
- Current investments -€503,895
down €503,895 (-100.0%), from €503,895 to €0
- Cash -€167,019
down €167,019 (-18.3%), from €910,719 to €743,699
mainly Receivables within one year (-€552,497) and Net result for the year (-€59,478)
- Stocks and contracts +€40,305
up €40,305 (+13.1%), from €308,693 to €348,999
of which Contracts in progress: +€40,305
- Tangible fixed assets +€31,950
up €31,950 (+407.8%), from €7,835 to €39,785
of which Furniture and vehicles: +€32,737
- Reserves -€59,478
down €59,478 (-3.1%), from €1.9m to €1.8m
of which Distributable reserves: -€59,478
- Gross operating margin +€76,670
up €76,670 (+47.6%), from -€161,236 to -€84,566
- Depreciation +€12,681
up €12,681 (+487.3%), from €2,602 to €15,283
- Financial income +€10,388
up €10,388 (+18.1%), from €57,467 to €67,856
of which Non-recurring financial income: +€24,770
- Financial charges -€3,564
down €3,564 (-83.8%), from €4,252 to €688
of which Non-recurring financial charges: -€3,327
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 | €2,496,839 | €2,452,910 | -€43,930 | -1.8% |
| Fixed assets | 21/28 | €95,310 | €128,301 | +€32,991 | +34.6% |
| Tangible fixed assets | 22/27 | €7,835 | €39,785 | +€31,950 | +407.8% |
| Land and buildings | 22 | €3,760 | €2,820 | -€940 | -25.0% |
| Plant, machinery and equipment | 23 | €3,187 | €3,340 | +€154 | +4.8% |
| Furniture and vehicles | 24 | €888 | €33,625 | +€32,737 | +3687.7% |
| Financial fixed assets | 28 | €87,476 | €88,516 | +€1,040 | +1.2% |
| Current assets | 29/58 | €2,401,529 | €2,324,609 | -€76,920 | -3.2% |
| Stocks and contracts in progress | 3 | €308,693 | €348,999 | +€40,305 | +13.1% |
| Stocks | 30/36 | €22,107 | €22,107 | = | 0.0% |
| Contracts in progress | 37 | €286,586 | €326,892 | +€40,305 | +14.1% |
| Amounts receivable within one year | 40/41 | €674,238 | €1,226,735 | +€552,497 | +81.9% |
| Trade receivables | 40 | €771 | €92,245 | +€91,474 | +11860.3% |
| Other amounts receivable | 41 | €673,467 | €1,134,490 | +€461,023 | +68.5% |
| Current investments | 50/53 | €503,895 | €0 | -€503,895 | -100.0% |
| Cash at bank and in hand | 54/58 | €910,719 | €743,699 | -€167,019 | -18.3% |
| Deferred charges and accrued income | 490/1 | €3,984 | €5,176 | +€1,192 | +29.9% |
| Total equity and liabilities | 10/49 | €2,496,839 | €2,452,910 | -€43,930 | -1.8% |
| Equity | 10/15 | €2,476,710 | €2,417,232 | -€59,478 | -2.4% |
| Contributions | 10/11 | €574,368 | €574,368 | = | 0.0% |
| Capital | 10 | €574,368 | €574,368 | = | 0.0% |
| Issued capital | 100 | €574,368 | €574,368 | = | 0.0% |
| Reserves | 13 | €1,902,342 | €1,842,864 | -€59,478 | -3.1% |
| Non-distributable reserves | 130/1 | €57,437 | €57,437 | = | 0.0% |
| Legal reserve | 130 | €57,437 | €57,437 | = | 0.0% |
| Distributable reserves | 133 | €1,844,905 | €1,785,427 | -€59,478 | -3.2% |
| Amounts payable | 17/49 | €20,129 | €35,678 | +€15,549 | +77.2% |
| Amounts payable within one year | 42/48 | €20,129 | €35,678 | +€15,549 | +77.2% |
| Trade debts | 44 | €7,110 | €6,997 | -€114 | -1.6% |
| Suppliers | 440/4 | €7,110 | €6,997 | -€114 | -1.6% |
| Taxes, remuneration and social security | 45 | €5,735 | €23,651 | +€17,916 | +312.4% |
| Taxes | 450/3 | €2,237 | €20,000 | +€17,763 | +793.9% |
| Remuneration and social security | 454/9 | €3,498 | €3,651 | +€153 | +4.4% |
| Other amounts payable | 47/48 | €7,284 | €5,030 | -€2,254 | -30.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €23,246 | €24,699 | +€1,452 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,602 | €15,283 | +€12,681 | +487.3% |
| Other operating charges | 640/8 | €1,535 | €1,567 | +€32 | +2.1% |
| Gross operating margin | 9900 | -€161,236 | -€84,566 | +€76,670 | +47.6% |
| Operating profit (loss) | 9901 | -€188,620 | -€126,115 | +€62,505 | +33.1% |
| Financial income | 75/76B | €57,467 | €67,856 | +€10,388 | +18.1% |
| Recurring financial income | 75 | €57,467 | €43,086 | -€14,382 | -25.0% |
| Non-recurring financial income | 76B | - | €24,770 | +€24,770 | |
| Financial charges | 65/66B | €4,252 | €688 | -€3,564 | -83.8% |
| Recurring financial charges | 65 | €925 | €688 | -€237 | -25.6% |
| Non-recurring financial charges | 66B | €3,327 | €0 | -€3,327 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€135,404 | -€58,947 | +€76,457 | +56.5% |
| Income taxes | 67/77 | €572 | €531 | -€41 | -7.1% |
| Profit (loss) for the period | 9904 | -€135,976 | -€59,478 | +€76,498 | +56.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€135,976 | -€59,478 | +€76,498 | +56.3% |
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 10 October 2026 via checked.be.