DR 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.
DR PROJECTS
Largest movements
- Tangible fixed assets -€5,805
down €5,805 (-18.3%), from €31,690 to €25,885
of which Leasing and similar rights: -€6,821
- Stocks and contracts +€2,575
up €2,575 (+137.3%), from €1,875 to €4,450
of which Contracts in progress: +€3,075
- Cash -€1,340
down €1,340 (-79.5%), from €1,686 to €346
mainly Trade debts (-€5,552) and Debts after one year (-€4,352)
- Formation expenses -€898
down €898 (-100.0%), from €898 to €0
- Deferred charges and accrued income +€579
new in 2025: €579
- Trade debts -€5,552
down €5,552 (-76.5%), from €7,256 to €1,704
- Debts after one year -€4,352
down €4,352 (-24.5%), from €17,794 to €13,442
- Reserves +€2,799
up €2,799 (+33.4%), from €8,367 to €11,166
- Other debts +€1,281
up €1,281 (+64.0%), from €2,000 to €3,281
- Tax, wage and social debts +€797
up €797 (+22.7%), from €3,505 to €4,302
of which Taxes: +€797
- Depreciation +€4,263
up €4,263 (+116.1%), from €3,670 to €7,933
- Financial charges +€1,011
up €1,011 (+207.4%), from €487 to €1,498
- Gross operating margin -€718
down €718 (-5.1%), from €14,182 to €13,463
- Taxes -€708
down €708 (-47.0%), from €1,505 to €797
- Other operating charges +€284
up €284 (+186.7%), from €152 to €436
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 | €48,008 | €43,246 | -€4,761 | -9.9% |
| Formation expenses | 20 | €898 | €0 | -€898 | -100.0% |
| Fixed assets | 21/28 | €31,690 | €25,885 | -€5,805 | -18.3% |
| Tangible fixed assets | 22/27 | €31,690 | €25,885 | -€5,805 | -18.3% |
| Plant, machinery and equipment | 23 | - | €1,016 | +€1,016 | |
| Leasing and similar rights | 25 | €31,690 | €24,869 | -€6,821 | -21.5% |
| Current assets | 29/58 | €15,420 | €17,361 | +€1,941 | +12.6% |
| Stocks and contracts in progress | 3 | €1,875 | €4,450 | +€2,575 | +137.3% |
| Stocks | 30/36 | €1,875 | €1,375 | -€500 | -26.7% |
| Contracts in progress | 37 | - | €3,075 | +€3,075 | |
| Amounts receivable within one year | 40/41 | €11,859 | €11,986 | +€127 | +1.1% |
| Trade receivables | 40 | €8,625 | €11,515 | +€2,890 | +33.5% |
| Other amounts receivable | 41 | €3,234 | €471 | -€2,764 | -85.5% |
| Cash at bank and in hand | 54/58 | €1,686 | €346 | -€1,340 | -79.5% |
| Deferred charges and accrued income | 490/1 | - | €579 | +€579 | |
| Total equity and liabilities | 10/49 | €48,008 | €43,246 | -€4,761 | -9.9% |
| Equity | 10/15 | €13,367 | €16,166 | +€2,799 | +20.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €8,367 | €11,166 | +€2,799 | +33.4% |
| Distributable reserves | 133 | €8,367 | €11,166 | +€2,799 | +33.4% |
| Amounts payable | 17/49 | €34,641 | €27,080 | -€7,560 | -21.8% |
| Amounts payable after more than one year | 17 | €17,794 | €13,442 | -€4,352 | -24.5% |
| Financial debts | 170/4 | €17,794 | €13,442 | -€4,352 | -24.5% |
| Amounts payable within one year | 42/48 | €16,847 | €13,639 | -€3,208 | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €4,086 | €4,352 | +€265 | +6.5% |
| Trade debts | 44 | €7,256 | €1,704 | -€5,552 | -76.5% |
| Suppliers | 440/4 | €7,256 | €1,704 | -€5,552 | -76.5% |
| Taxes, remuneration and social security | 45 | €3,505 | €4,302 | +€797 | +22.7% |
| Taxes | 450/3 | €1,505 | €2,302 | +€797 | +53.0% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €2,000 | €3,281 | +€1,281 | +64.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,670 | €7,933 | +€4,263 | +116.1% |
| Other operating charges | 640/8 | €152 | €436 | +€284 | +186.7% |
| Gross operating margin | 9900 | €14,182 | €13,463 | -€718 | -5.1% |
| Operating profit (loss) | 9901 | €10,359 | €5,094 | -€5,265 | -50.8% |
| Financial charges | 65/66B | €487 | €1,498 | +€1,011 | +207.4% |
| Recurring financial charges | 65 | €487 | €1,498 | +€1,011 | +207.4% |
| Profit (loss) for the period before taxes | 9903 | €9,872 | €3,596 | -€6,276 | -63.6% |
| Income taxes | 67/77 | €1,505 | €797 | -€708 | -47.0% |
| Profit (loss) for the period | 9904 | €8,367 | €2,799 | -€5,568 | -66.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,367 | €2,799 | -€5,568 | -66.6% |
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.