DM 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.
DM PROJECTS
Largest movements
- Current investments +€300,000
new in 2025: €300,000
- Cash -€131,739
down €131,739 (-63.5%), from €207,330 to €75,590
mainly Current investments (-€300,000) and Receivables within one year (-€10,835)
- Financial fixed assets -€20,275
down €20,275 (-9.9%), from €205,538 to €185,263
- Tangible fixed assets -€12,045
down €12,045 (-7.7%), from €155,490 to €143,445
of which Other tangible fixed assets: -€7,650
- Receivables within one year +€10,835
up €10,835 (+67.3%), from €16,098 to €26,933
of which Trade receivables: +€7,260
- Reserves +€137,409
up €137,409 (+20.0%), from €686,888 to €824,297
- Trade debts +€11,869
up €11,869 (+891%), from €1,333 to €13,202
- Gross operating margin +€16,528
up €16,528 (+8.8%), from €188,614 to €205,142
- Taxes +€6,814
up €6,814 (+12.4%), from €55,133 to €61,947
- Financial income +€3,181
up €3,181 (+38.4%), from €8,293 to €11,473
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 | €760,623 | €913,962 | +€153,340 | +20.2% |
| Fixed assets | 21/28 | €361,698 | €329,278 | -€32,420 | -9.0% |
| Intangible fixed assets | 21 | €671 | €571 | -€100 | -14.9% |
| Tangible fixed assets | 22/27 | €155,490 | €143,445 | -€12,045 | -7.7% |
| Land and buildings | 22 | €111,158 | €107,858 | -€3,301 | -3.0% |
| Plant, machinery and equipment | 23 | €1,214 | €436 | -€778 | -64.1% |
| Furniture and vehicles | 24 | €3,657 | €3,341 | -€316 | -8.7% |
| Other tangible fixed assets | 26 | €39,460 | €31,810 | -€7,650 | -19.4% |
| Financial fixed assets | 28 | €205,538 | €185,263 | -€20,275 | -9.9% |
| Current assets | 29/58 | €398,925 | €584,684 | +€185,759 | +46.6% |
| Amounts receivable after more than one year | 29 | €173,007 | €179,515 | +€6,508 | +3.8% |
| Other amounts receivable | 291 | €173,007 | €179,515 | +€6,508 | +3.8% |
| Amounts receivable within one year | 40/41 | €16,098 | €26,933 | +€10,835 | +67.3% |
| Trade receivables | 40 | €7,806 | €15,066 | +€7,260 | +93.0% |
| Other amounts receivable | 41 | €8,292 | €11,867 | +€3,575 | +43.1% |
| Current investments | 50/53 | - | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €207,330 | €75,590 | -€131,739 | -63.5% |
| Deferred charges and accrued income | 490/1 | €2,490 | €2,646 | +€156 | +6.2% |
| Total equity and liabilities | 10/49 | €760,623 | €913,962 | +€153,340 | +20.2% |
| Equity | 10/15 | €705,488 | €842,897 | +€137,409 | +19.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €686,888 | €824,297 | +€137,409 | +20.0% |
| Distributable reserves | 133 | €686,888 | €824,297 | +€137,409 | +20.0% |
| Amounts payable | 17/49 | €55,135 | €71,065 | +€15,930 | +28.9% |
| Amounts payable within one year | 42/48 | €54,750 | €70,665 | +€15,915 | +29.1% |
| Trade debts | 44 | €1,333 | €13,202 | +€11,869 | +891% |
| Suppliers | 440/4 | €1,333 | €13,202 | +€11,869 | +891% |
| Advances received on contracts in progress | 46 | €566 | €566 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €52,075 | €53,992 | +€1,916 | +3.7% |
| Taxes | 450/3 | €52,075 | €53,992 | +€1,916 | +3.7% |
| Other amounts payable | 47/48 | €776 | €2,906 | +€2,130 | +274% |
| Accrued charges and deferred income | 492/3 | €384 | €400 | +€15 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,738 | €13,668 | -€1,070 | -7.3% |
| Other operating charges | 640/8 | €1,910 | €3,555 | +€1,645 | +86.1% |
| Gross operating margin | 9900 | €188,614 | €205,142 | +€16,528 | +8.8% |
| Operating profit (loss) | 9901 | €171,966 | €187,919 | +€15,953 | +9.3% |
| Financial income | 75/76B | €8,293 | €11,473 | +€3,181 | +38.4% |
| Recurring financial income | 75 | €8,293 | €11,473 | +€3,181 | +38.4% |
| Financial charges | 65/66B | €27 | €36 | +€9 | +33.3% |
| Recurring financial charges | 65 | €27 | €36 | +€9 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | €180,232 | €199,356 | +€19,124 | +10.6% |
| Income taxes | 67/77 | €55,133 | €61,947 | +€6,814 | +12.4% |
| Profit (loss) for the period | 9904 | €125,099 | €137,409 | +€12,310 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €125,099 | €137,409 | +€12,310 | +9.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.