DURBAN RED: 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.
What changed
DURBAN RED
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€161,173
2024 · -€55,140+€216,312
Equity
€5,675
2024 · -€155,498+€161,173
Cash
€6
2024 · €11,686-€11,680
Balance sheet total
€2.0m
2024 · €2.2m-€152,833
Largest movements
Assets
- Stocks and contracts -€105,250
down €105,250 (-6.5%), from €1.6m to €1.5m
Equity and liabilities
- Short-term financial debts -€526,412
down €526,412 (-99.7%), from €528,011 to €1,599
- Trade debts +€163,769
up €163,769 (+23.4%), from €698,602 to €862,371
- Profit (loss) carried forward +€161,173
up €161,173 (+83.5%), from -€193,114 to -€31,942
- Other debts +€144,185
up €144,185 (+211%), from €68,399 to €212,584
- Tax, wage and social debts -€57,567
no longer reported in 2025 (was €57,567)
Income statement
- Gross operating margin +€240,078
up €240,078 (+1,750%), from €13,716 to €253,794
- Financial charges +€23,648
up €23,648 (+53.0%), from €44,601 to €68,249
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
-€55,140
Gross operating margin
+€240,078
Other operating charges
-€118
Financial income
-€0
Financial charges
-€23,648
Result 2025
€161,173
raises the resultlowers the result
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.
From operations
+€533,539
Investment
€0
Financing
-€545,219
Cash 2024
€11,686
From operations (derived)
+€533,539
Net result for the year
+€161,173
Depreciation
+€10,815
Stocks and contracts
+€105,250
Receivables within one year
+€9,523
Deferred charges and accrued income
+€15,565
Trade debts
+€163,769
Tax, wage and social debts
-€57,567
Other debts
+€144,185
Accrued charges and deferred income
-€19,173
Financing
-€545,219
Current portion of long-term debt
-€18,807
Short-term financial debts
-€526,412
Cash 2025
€6
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,188,171 | €2,035,338 | -€152,833 | -7.0% |
| Fixed assets | 21/28 | €306,730 | €295,915 | -€10,815 | -3.5% |
| Tangible fixed assets | 22/27 | €306,730 | €295,915 | -€10,815 | -3.5% |
| Land and buildings | 22 | €305,199 | €294,599 | -€10,600 | -3.5% |
| Furniture and vehicles | 24 | €1,531 | €1,316 | -€215 | -14.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €1,881,441 | €1,739,423 | -€142,018 | -7.5% |
| Amounts receivable after more than one year | 29 | €43,400 | €43,400 | = | 0.0% |
| Other amounts receivable | 291 | €43,400 | €43,400 | = | 0.0% |
| Stocks and contracts in progress | 3 | €1,614,238 | €1,508,988 | -€105,250 | -6.5% |
| Contracts in progress | 37 | €1,614,238 | €1,508,988 | -€105,250 | -6.5% |
| Amounts receivable within one year | 40/41 | €196,552 | €187,029 | -€9,523 | -4.8% |
| Trade receivables | 40 | €46,837 | €53,591 | +€6,754 | +14.4% |
| Other amounts receivable | 41 | €149,715 | €133,438 | -€16,277 | -10.9% |
| Cash at bank and in hand | 54/58 | €11,686 | €6 | -€11,680 | -99.9% |
| Deferred charges and accrued income | 490/1 | €15,565 | - | -€15,565 | |
| Total equity and liabilities | 10/49 | €2,188,171 | €2,035,338 | -€152,833 | -7.0% |
| Equity | 10/15 | -€155,498 | €5,675 | +€161,173 | |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €31,616 | €31,616 | = | 0.0% |
| Distributable reserves | 133 | €31,616 | €31,616 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€193,114 | -€31,942 | +€161,173 | +83.5% |
| Amounts payable | 17/49 | €2,343,669 | €2,029,663 | -€314,006 | -13.4% |
| Amounts payable after more than one year | 17 | €325,775 | €325,775 | = | 0.0% |
| Financial debts | 170/4 | €325,775 | €325,775 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,982,739 | €1,687,906 | -€294,833 | -14.9% |
| Current portion of amounts payable after more than one year | 42 | €18,807 | - | -€18,807 | |
| Financial debts | 43 | €528,011 | €1,599 | -€526,412 | -99.7% |
| Credit institutions | 430/8 | €528,011 | €1,599 | -€526,412 | -99.7% |
| Trade debts | 44 | €698,602 | €862,371 | +€163,769 | +23.4% |
| Suppliers | 440/4 | €698,602 | €862,371 | +€163,769 | +23.4% |
| Advances received on contracts in progress | 46 | €611,352 | €611,352 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €57,567 | - | -€57,567 | |
| Taxes | 450/3 | €57,567 | - | -€57,567 | |
| Other amounts payable | 47/48 | €68,399 | €212,584 | +€144,185 | +211% |
| Accrued charges and deferred income | 492/3 | €35,155 | €15,982 | -€19,173 | -54.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,815 | €10,815 | = | 0.0% |
| Other operating charges | 640/8 | €13,439 | €13,557 | +€118 | +0.9% |
| Gross operating margin | 9900 | €13,716 | €253,794 | +€240,078 | +1,750% |
| Operating profit (loss) | 9901 | -€10,538 | €229,422 | +€239,960 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €44,601 | €68,249 | +€23,648 | +53.0% |
| Recurring financial charges | 65 | €44,601 | €68,249 | +€23,648 | +53.0% |
| Profit (loss) for the period before taxes | 9903 | -€55,140 | €161,173 | +€216,312 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€55,140 | €161,173 | +€216,312 | |
| Profit (loss) for the period to be appropriated | 9905 | -€55,140 | €161,173 | +€216,312 |
Source: filed annual accounts (NBB), financial 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 October 2026 via checked.be.