DIRIGO 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.
DIRIGO PROJECTS
Largest movements
- Receivables within one year -€34,552
down €34,552 (-14.7%), from €235,033 to €200,481
of which Other amounts receivable: -€62,332
- Cash -€10,040
down €10,040 (-52.4%), from €19,173 to €9,133
mainly Contributions, distributions and other (-€115,000) and Debts after one year (-€24,000)
- Tangible fixed assets -€4,853
down €4,853 (-54.6%), from €8,883 to €4,029
of which Furniture and vehicles: -€3,897
- Reserves -€76,183
down €76,183 (-55.6%), from €137,075 to €60,892
of which Distributable reserves: -€76,183
- Other debts +€40,671
up €40,671 (+22.0%), from €184,914 to €225,585
- Debts after one year -€24,000
down €24,000 (-100.0%), from €24,000 to €0
- Tax, wage and social debts +€9,985
up €9,985 (+141.0%), from €7,083 to €17,067
- Financial income -€115,525
down €115,525 (-100.0%), from €115,557 to €32
of which Non-recurring financial income: -€115,510
- Gross operating margin +€7,457
up €7,457 (+15.2%), from €49,123 to €56,579
- Taxes +€3,755
up €3,755 (+52.8%), from €7,118 to €10,872
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 | €375,976 | €327,021 | -€48,955 | -13.0% |
| Fixed assets | 21/28 | €83,883 | €79,029 | -€4,853 | -5.8% |
| Tangible fixed assets | 22/27 | €8,883 | €4,029 | -€4,853 | -54.6% |
| Plant, machinery and equipment | 23 | €307 | €43 | -€263 | -85.9% |
| Furniture and vehicles | 24 | €6,235 | €2,338 | -€3,897 | -62.5% |
| Other tangible fixed assets | 26 | €2,341 | €1,648 | -€693 | -29.6% |
| Financial fixed assets | 28 | €75,000 | €75,000 | = | 0.0% |
| Current assets | 29/58 | €292,093 | €247,991 | -€44,102 | -15.1% |
| Amounts receivable after more than one year | 29 | €5,000 | €5,000 | = | 0.0% |
| Other amounts receivable | 291 | €5,000 | €5,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €235,033 | €200,481 | -€34,552 | -14.7% |
| Trade receivables | 40 | €29,040 | €56,820 | +€27,780 | +95.7% |
| Other amounts receivable | 41 | €205,993 | €143,661 | -€62,332 | -30.3% |
| Current investments | 50/53 | €32,000 | €32,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €19,173 | €9,133 | -€10,040 | -52.4% |
| Deferred charges and accrued income | 490/1 | €887 | €1,377 | +€490 | +55.3% |
| Total equity and liabilities | 10/49 | €375,976 | €327,021 | -€48,955 | -13.0% |
| Equity | 10/15 | €155,675 | €79,492 | -€76,183 | -48.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €137,075 | €60,892 | -€76,183 | -55.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €137,075 | €60,892 | -€76,183 | -55.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €220,301 | €247,528 | +€27,227 | +12.4% |
| Amounts payable after more than one year | 17 | €24,000 | €0 | -€24,000 | -100.0% |
| Financial debts | 170/4 | €24,000 | €0 | -€24,000 | -100.0% |
| Amounts payable within one year | 42/48 | €196,301 | €247,528 | +€51,227 | +26.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | - | €400 | +€400 | |
| Credit institutions | 430/8 | - | €400 | +€400 | |
| Trade debts | 44 | €4,305 | €4,476 | +€171 | +4.0% |
| Suppliers | 440/4 | €4,305 | €4,476 | +€171 | +4.0% |
| Taxes, remuneration and social security | 45 | €7,083 | €17,067 | +€9,985 | +141.0% |
| Taxes | 450/3 | €7,083 | €17,067 | +€9,985 | +141.0% |
| Other amounts payable | 47/48 | €184,914 | €225,585 | +€40,671 | +22.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,988 | €4,853 | -€135 | -2.7% |
| Other operating charges | 640/8 | €1,318 | €1,427 | +€110 | +8.3% |
| Gross operating margin | 9900 | €49,123 | €56,579 | +€7,457 | +15.2% |
| Operating profit (loss) | 9901 | €42,817 | €50,298 | +€7,482 | +17.5% |
| Financial income | 75/76B | €115,557 | €32 | -€115,525 | -100.0% |
| Recurring financial income | 75 | €47 | €32 | -€15 | -32.4% |
| Non-recurring financial income | 76B | €115,510 | €0 | -€115,510 | -100.0% |
| Financial charges | 65/66B | €181 | €641 | +€459 | +253.3% |
| Recurring financial charges | 65 | €181 | €641 | +€459 | +253.3% |
| Profit (loss) for the period before taxes | 9903 | €158,192 | €49,690 | -€108,503 | -68.6% |
| Income taxes | 67/77 | €7,118 | €10,872 | +€3,755 | +52.8% |
| Profit (loss) for the period | 9904 | €151,075 | €38,817 | -€112,257 | -74.3% |
| Profit (loss) for the period to be appropriated | 9905 | €151,075 | €38,817 | -€112,257 | -74.3% |
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 29 September 2026 via checked.be.