DRY: 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.
What changed
DRY
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5,027
2024 · €3,139+€1,888
Equity
€2.5m
2024 · €2.5m+€5,028
Cash
€10,928
2024 · €19,717-€8,789
Balance sheet total
€3.9m
2024 · €3.9m+€50,831
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Other debts +€41,000
up €41,000 (+117.1%), from €35,000 to €76,000
Income statement
- Provisions +€23,358
up €23,358 (+76.2%), from -€30,657 to -€7,299
- Gross operating margin +€18,968
up €18,968 (+12.8%), from €148,351 to €167,319
- Financial charges -€16,995
down €16,995 (-26.4%), from €64,443 to €47,448
of which Financial charges: -€16,902
- Staff costs +€6,349
up €6,349 (+9.2%), from €69,117 to €75,466
- Other operating charges +€2,210
up €2,210 (+7.5%), from €29,528 to €31,738
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.
Result 2024
€3,139
Gross operating margin
+€18,968
Staff costs
-€6,349
Depreciation
-€570
Provisions
-€23,358
Other operating charges
-€2,210
Financial income
-€45
Financial charges
+€16,995
Taxes
-€1,543
Result 2025
€5,027
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.
From operations
-€18,479
Investment
-€2,131
Financing
+€11,821
Cash 2024
€19,717
From operations (derived)
-€18,479
Net result for the year
+€5,027
Depreciation
+€14,406
Stocks and contracts
-€36,120
Receivables within one year
-€36,323
Deferred charges and accrued income
+€548
Provisions
-€7,299
Trade debts
-€6,213
Tax, wage and social debts
+€12,962
Other debts
+€41,000
Accrued charges and deferred income
-€6,467
Investment (derived)
-€2,131
Investment in fixed assets (net)
-€2,131
Financing
+€11,821
Debts after one year
+€11,820
Contributions, distributions and other
+€1
Cash 2025
€10,928
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,855,914 | €3,906,745 | +€50,831 | +1.3% |
| Fixed assets | 21/28 | €3,145,016 | €3,132,741 | -€12,275 | -0.4% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €3,145,016 | €3,132,741 | -€12,275 | -0.4% |
| Land and buildings | 22 | €3,141,080 | €3,128,103 | -€12,977 | -0.4% |
| Plant, machinery and equipment | 23 | €2,765 | €3,960 | +€1,195 | +43.2% |
| Furniture and vehicles | 24 | €1,171 | €678 | -€493 | -42.1% |
| Current assets | 29/58 | €710,898 | €774,004 | +€63,106 | +8.9% |
| Stocks and contracts in progress | 3 | €679,523 | €715,643 | +€36,120 | +5.3% |
| Stocks | 30/36 | €626,398 | €671,818 | +€45,420 | +7.3% |
| Contracts in progress | 37 | €53,125 | €43,825 | -€9,300 | -17.5% |
| Amounts receivable within one year | 40/41 | €9,903 | €46,226 | +€36,323 | +366.8% |
| Trade receivables | 40 | €6,018 | €34,855 | +€28,837 | +479.2% |
| Other amounts receivable | 41 | €3,885 | €11,371 | +€7,486 | +192.7% |
| Cash at bank and in hand | 54/58 | €19,717 | €10,928 | -€8,789 | -44.6% |
| Deferred charges and accrued income | 490/1 | €1,755 | €1,207 | -€548 | -31.2% |
| Total equity and liabilities | 10/49 | €3,855,914 | €3,906,745 | +€50,831 | +1.3% |
| Equity | 10/15 | €2,510,851 | €2,515,879 | +€5,028 | +0.2% |
| Contributions | 10/11 | €2,460,418 | €2,460,418 | = | 0.0% |
| Capital | 10 | €2,460,000 | €2,460,000 | = | 0.0% |
| Issued capital | 100 | €2,460,000 | €2,460,000 | = | 0.0% |
| Outside capital | 11 | €418 | €418 | = | 0.0% |
| Share premium | 1100/10 | €418 | €418 | = | 0.0% |
| Reserves | 13 | €50,433 | €55,461 | +€5,028 | +10.0% |
| Non-distributable reserves | 130/1 | €3,237 | €3,488 | +€251 | +7.8% |
| Legal reserve | 130 | €3,237 | €3,488 | +€251 | +7.8% |
| Distributable reserves | 133 | €47,196 | €51,973 | +€4,777 | +10.1% |
| Provisions and deferred taxes | 16 | €7,299 | - | -€7,299 | |
| Provisions for liabilities and charges | 160/5 | €7,299 | - | -€7,299 | |
| Major repairs and maintenance | 162 | €7,299 | - | -€7,299 | |
| Amounts payable | 17/49 | €1,337,764 | €1,390,866 | +€53,102 | +4.0% |
| Amounts payable after more than one year | 17 | €11,680 | €23,500 | +€11,820 | +101.2% |
| Other amounts payable | 178/9 | €11,680 | €23,500 | +€11,820 | +101.2% |
| Amounts payable within one year | 42/48 | €1,319,523 | €1,367,272 | +€47,749 | +3.6% |
| Financial debts | 43 | €1,205,000 | €1,205,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,205,000 | €1,205,000 | = | 0.0% |
| Trade debts | 44 | €42,085 | €35,872 | -€6,213 | -14.8% |
| Suppliers | 440/4 | €42,085 | €35,872 | -€6,213 | -14.8% |
| Taxes, remuneration and social security | 45 | €37,438 | €50,400 | +€12,962 | +34.6% |
| Taxes | 450/3 | €28,199 | €43,230 | +€15,031 | +53.3% |
| Remuneration and social security | 454/9 | €9,239 | €7,170 | -€2,069 | -22.4% |
| Other amounts payable | 47/48 | €35,000 | €76,000 | +€41,000 | +117.1% |
| Accrued charges and deferred income | 492/3 | €6,561 | €94 | -€6,467 | -98.6% |
| Remuneration, social security and pensions | 62 | €69,117 | €75,466 | +€6,349 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,836 | €14,406 | +€570 | +4.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€30,657 | -€7,299 | +€23,358 | +76.2% |
| Other operating charges | 640/8 | €29,528 | €31,738 | +€2,210 | +7.5% |
| Gross operating margin | 9900 | €148,351 | €167,319 | +€18,968 | +12.8% |
| Operating profit (loss) | 9901 | €66,527 | €53,008 | -€13,519 | -20.3% |
| Financial income | 75/76B | €140 | €95 | -€45 | -32.1% |
| Recurring financial income | 75 | €140 | €95 | -€45 | -32.1% |
| Financial charges | 65/66B | €64,443 | €47,448 | -€16,995 | -26.4% |
| Recurring financial charges | 65 | €64,350 | €47,448 | -€16,902 | -26.3% |
| Non-recurring financial charges | 66B | €93 | - | -€93 | |
| Profit (loss) for the period before taxes | 9903 | €2,224 | €5,655 | +€3,431 | +154.3% |
| Income taxes | 67/77 | -€915 | €628 | +€1,543 | |
| Profit (loss) for the period | 9904 | €3,139 | €5,027 | +€1,888 | +60.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,139 | €5,027 | +€1,888 | +60.1% |
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 2 October 2026 via checked.be.