DUNAN: 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
DUNAN
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€146,500
2024 · €151,218-€4,718
Equity
€1.1m
2024 · €934,388+€146,500
Cash
€227,203
2024 · €270,192-€42,989
Balance sheet total
€1.4m
2024 · €1.5m-€67,975
Largest movements
Assets
- Cash -€42,989
down €42,989 (-15.9%), from €270,192 to €227,203
mainly Other debts (-€200,000) and Investment in fixed assets (net) (-€27,585)
Equity and liabilities
- Other debts -€200,000
down €200,000 (-41.3%), from €484,000 to €284,000
- Profit (loss) carried forward +€146,500
up €146,500 (+20.7%), from €707,136 to €853,636
Income statement
- Services and other goods +€3,034
up €3,034 (+24.9%), from €12,189 to €15,223
- Depreciation +€3,030
up €3,030 (+8.4%), from €36,160 to €39,190
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
€151,218
Turnover
+€387
Services and other goods
-€3,034
Depreciation
-€3,030
Other operating charges
-€534
Financial income
+€223
Financial charges
-€5
Taxes
+€1,274
Result 2025
€146,500
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
-€15,404
Investment
-€27,585
Financing
€0
Cash 2024
€270,192
From operations (derived)
-€15,404
Net result for the year
+€146,500
Depreciation
+€39,190
Receivables within one year
+€13,381
Trade debts
-€14,474
Other debts
-€200,000
Investment (derived)
-€27,585
Investment in fixed assets (net)
-€27,585
Cash 2025
€227,203
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,455,124 | €1,387,150 | -€67,975 | -4.7% |
| Fixed assets | 21/28 | €1,169,840 | €1,158,236 | -€11,605 | -1.0% |
| Tangible fixed assets | 22/27 | €1,169,840 | €1,158,236 | -€11,605 | -1.0% |
| Land and buildings | 22 | €1,154,988 | €1,119,165 | -€35,823 | -3.1% |
| Plant, machinery and equipment | 23 | €13,258 | €38,119 | +€24,861 | +187.5% |
| Furniture and vehicles | 24 | €1,595 | €952 | -€643 | -40.3% |
| Current assets | 29/58 | €285,284 | €228,914 | -€56,370 | -19.8% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €15,092 | €1,711 | -€13,381 | -88.7% |
| Trade receivables | 40 | €12,338 | €0 | -€12,338 | -100.0% |
| Other amounts receivable | 41 | €2,754 | €1,711 | -€1,043 | -37.9% |
| Cash at bank and in hand | 54/58 | €270,192 | €227,203 | -€42,989 | -15.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,455,124 | €1,387,150 | -€67,975 | -4.7% |
| Equity | 10/15 | €934,388 | €1,080,887 | +€146,500 | +15.7% |
| Contributions | 10/11 | €82,500 | €82,500 | = | 0.0% |
| Reserves | 13 | €144,751 | €144,751 | = | 0.0% |
| Distributable reserves | 133 | €144,751 | €144,751 | = | 0.0% |
| Profit (loss) carried forward | 14 | €707,136 | €853,636 | +€146,500 | +20.7% |
| Amounts payable | 17/49 | €520,737 | €306,262 | -€214,474 | -41.2% |
| Amounts payable within one year | 42/48 | €499,737 | €285,262 | -€214,474 | -42.9% |
| Trade debts | 44 | €15,737 | €1,262 | -€14,474 | -92.0% |
| Suppliers | 440/4 | €15,737 | €1,262 | -€14,474 | -92.0% |
| Other amounts payable | 47/48 | €484,000 | €284,000 | -€200,000 | -41.3% |
| Accrued charges and deferred income | 492/3 | €21,000 | €21,000 | = | 0.0% |
| Operating income | 70/76A | €264,338 | €264,725 | +€387 | +0.1% |
| Turnover | 70 | €264,338 | €264,725 | +€387 | +0.1% |
| Operating charges | 60/66A | €61,655 | €68,252 | +€6,597 | +10.7% |
| Services and other goods | 61 | €12,189 | €15,223 | +€3,034 | +24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,160 | €39,190 | +€3,030 | +8.4% |
| Other operating charges | 640/8 | €13,305 | €13,839 | +€534 | +4.0% |
| Operating profit (loss) | 9901 | €202,683 | €196,472 | -€6,210 | -3.1% |
| Financial income | 75/76B | €1,239 | €1,461 | +€223 | +18.0% |
| Recurring financial income | 75 | €1,239 | €1,461 | +€223 | +18.0% |
| Income from current assets | 751 | €1,239 | €261 | -€977 | -78.9% |
| Other financial income | 752/9 | - | €1,200 | +€1,200 | |
| Financial charges | 65/66B | €1,672 | €1,677 | +€5 | +0.3% |
| Recurring financial charges | 65 | €1,672 | €1,677 | +€5 | +0.3% |
| Debt charges | 650 | €0 | - | = | |
| Other financial charges | 652/9 | €1,672 | €1,677 | +€5 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €202,249 | €196,257 | -€5,993 | -3.0% |
| Income taxes | 67/77 | €51,031 | €49,757 | -€1,274 | -2.5% |
| Taxes | 670/3 | €52,500 | €49,757 | -€2,743 | -5.2% |
| Tax adjustments and reversals of tax provisions | 77 | €1,469 | €0 | -€1,469 | -100.0% |
| Profit (loss) for the period | 9904 | €151,218 | €146,500 | -€4,718 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €151,218 | €146,500 | -€4,718 | -3.1% |
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.