DAC PROJECT: what changed
DAC PROJECT
Largest movements
- Cash -€3,654
down €3,654 (-87.1%), from €4,193 to €539
mainly Net result for the year (-€5,188) and Tax, wage and social debts (-€1,654)
- Intangible fixed assets -€2,052
down €2,052 (-33.7%), from €6,096 to €4,044
- Stocks and contracts -€780
down €780 (-33.3%), from €2,340 to €1,560
- Receivables within one year -€693
down €693 (-48.1%), from €1,440 to €747
of which Trade receivables: -€749
- Profit (loss) carried forward -€5,188
down €5,188 (-70.9%), from €7,312 to €2,124
- Tax, wage and social debts -€1,654
no longer reported in 2025 (was €1,654)
- Trade debts -€332
down €332 (-83.8%), from €397 to €64
- Gross operating margin -€27,241
down €27,241, from €24,675 to -€2,566
- Taxes -€4,566
no longer reported in 2025 (was €4,566)
- Financial charges -€371
down €371 (-78.0%), from €475 to €104
- Depreciation +€251
up €251 (+14.0%), from €1,801 to €2,052
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,119 | €6,940 | -€7,179 | -50.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €6,145 | €4,093 | -€2,052 | -33.4% |
| Intangible fixed assets | 21 | €6,096 | €4,044 | -€2,052 | -33.7% |
| Financial fixed assets | 28 | €49 | €49 | = | 0.0% |
| Current assets | 29/58 | €7,974 | €2,847 | -€5,127 | -64.3% |
| Stocks and contracts in progress | 3 | €2,340 | €1,560 | -€780 | -33.3% |
| Stocks | 30/36 | €2,340 | €1,560 | -€780 | -33.3% |
| Amounts receivable within one year | 40/41 | €1,440 | €747 | -€693 | -48.1% |
| Trade receivables | 40 | €1,107 | €358 | -€749 | -67.6% |
| Other amounts receivable | 41 | €334 | €389 | +€56 | +16.7% |
| Cash at bank and in hand | 54/58 | €4,193 | €539 | -€3,654 | -87.1% |
| Total equity and liabilities | 10/49 | €14,119 | €6,940 | -€7,179 | -50.8% |
| Equity | 10/15 | €9,812 | €4,624 | -€5,188 | -52.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,312 | €2,124 | -€5,188 | -70.9% |
| Amounts payable | 17/49 | €4,307 | €2,315 | -€1,992 | -46.2% |
| Amounts payable within one year | 42/48 | €4,307 | €2,315 | -€1,992 | -46.2% |
| Trade debts | 44 | €397 | €64 | -€332 | -83.8% |
| Suppliers | 440/4 | €397 | €64 | -€332 | -83.8% |
| Taxes, remuneration and social security | 45 | €1,654 | - | -€1,654 | |
| Taxes | 450/3 | €1,654 | - | -€1,654 | |
| Other amounts payable | 47/48 | €2,256 | €2,251 | -€6 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,801 | €2,052 | +€251 | +14.0% |
| Other operating charges | 640/8 | €387 | €465 | +€78 | +20.2% |
| Gross operating margin | 9900 | €24,675 | -€2,566 | -€27,241 | |
| Operating profit (loss) | 9901 | €22,487 | -€5,083 | -€27,570 | |
| Financial charges | 65/66B | €475 | €104 | -€371 | -78.0% |
| Recurring financial charges | 65 | €475 | €104 | -€371 | -78.0% |
| Profit (loss) for the period before taxes | 9903 | €22,012 | -€5,188 | -€27,199 | |
| Income taxes | 67/77 | €4,566 | - | -€4,566 | |
| Profit (loss) for the period | 9904 | €17,445 | -€5,188 | -€22,633 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,445 | -€5,188 | -€22,633 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.