D.A.D.: 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.
D.A.D.
Largest movements
- Cash +€252,765
up €252,765 (+43.3%), from €584,151 to €836,916
mainly Net result for the year (+€964,767) and Accrued charges and deferred income (+€94,958)
- Receivables within one year +€89,529
up €89,529 (+46.1%), from €194,376 to €283,905
of which Trade receivables: +€97,882
- Deferred charges and accrued income -€24,701
down €24,701 (-79.6%), from €31,032 to €6,331
- Reserves +€421,405
up €421,405 (+11902.5%), from €3,540 to €424,945
of which Tax-exempt reserves: +€421,000
- Other debts -€110,448
down €110,448 (-16.9%), from €653,960 to €543,512
- Trade debts -€104,901
down €104,901 (-40.3%), from €260,408 to €155,507
- Accrued charges and deferred income +€94,958
up €94,958 (+1159.7%), from €8,188 to €103,146
- Gross operating margin +€441,227
up €441,227 (+32.7%), from €1.3m to €1.8m
- Taxes +€96,417
up €96,417 (+43.1%), from €223,901 to €320,318
- Staff costs +€37,901
up €37,901 (+7.9%), from €481,159 to €519,060
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 | €980,647 | €1,289,672 | +€309,024 | +31.5% |
| Fixed assets | 21/28 | €17,648 | €13,425 | -€4,223 | -23.9% |
| Tangible fixed assets | 22/27 | €17,537 | €13,314 | -€4,223 | -24.1% |
| Plant, machinery and equipment | 23 | €2,765 | €661 | -€2,104 | -76.1% |
| Furniture and vehicles | 24 | €5,868 | €4,077 | -€1,791 | -30.5% |
| Other tangible fixed assets | 26 | €8,904 | €8,576 | -€328 | -3.7% |
| Financial fixed assets | 28 | €111 | €111 | = | 0.0% |
| Current assets | 29/58 | €962,999 | €1,276,247 | +€313,248 | +32.5% |
| Stocks and contracts in progress | 3 | €153,440 | €149,095 | -€4,345 | -2.8% |
| Contracts in progress | 37 | €153,440 | €149,095 | -€4,345 | -2.8% |
| Amounts receivable within one year | 40/41 | €194,376 | €283,905 | +€89,529 | +46.1% |
| Trade receivables | 40 | €168,666 | €266,548 | +€97,882 | +58.0% |
| Other amounts receivable | 41 | €25,711 | €17,357 | -€8,354 | -32.5% |
| Cash at bank and in hand | 54/58 | €584,151 | €836,916 | +€252,765 | +43.3% |
| Deferred charges and accrued income | 490/1 | €31,032 | €6,331 | -€24,701 | -79.6% |
| Total equity and liabilities | 10/49 | €980,647 | €1,289,672 | +€309,024 | +31.5% |
| Equity | 10/15 | €3,540 | €424,945 | +€421,405 | +11902.5% |
| Reserves | 13 | €3,540 | €424,945 | +€421,405 | +11902.5% |
| Tax-exempt reserves | 132 | €3,261 | €424,261 | +€421,000 | +12910.8% |
| Distributable reserves | 133 | €280 | €684 | +€405 | +144.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €977,107 | €864,727 | -€112,380 | -11.5% |
| Amounts payable within one year | 42/48 | €968,919 | €761,580 | -€207,339 | -21.4% |
| Financial debts | 43 | €1,097 | €1,312 | +€215 | +19.6% |
| Credit institutions | 430/8 | €1,097 | €1,312 | +€215 | +19.6% |
| Trade debts | 44 | €260,408 | €155,507 | -€104,901 | -40.3% |
| Suppliers | 440/4 | €260,408 | €155,507 | -€104,901 | -40.3% |
| Taxes, remuneration and social security | 45 | €53,454 | €61,250 | +€7,795 | +14.6% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €53,454 | €61,250 | +€7,795 | +14.6% |
| Other amounts payable | 47/48 | €653,960 | €543,512 | -€110,448 | -16.9% |
| Accrued charges and deferred income | 492/3 | €8,188 | €103,146 | +€94,958 | +1159.7% |
| Remuneration, social security and pensions | 62 | €481,159 | €519,060 | +€37,901 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,060 | €4,223 | +€163 | +4.0% |
| Other operating charges | 640/8 | €2,101 | €1,565 | -€536 | -25.5% |
| Gross operating margin | 9900 | €1,349,568 | €1,790,794 | +€441,227 | +32.7% |
| Operating profit (loss) | 9901 | €862,248 | €1,265,946 | +€403,698 | +46.8% |
| Financial income | 75/76B | €15,553 | €19,295 | +€3,742 | +24.1% |
| Recurring financial income | 75 | €15,553 | €19,295 | +€3,742 | +24.1% |
| Financial charges | 65/66B | €127 | €157 | +€30 | +23.8% |
| Recurring financial charges | 65 | €127 | €157 | +€30 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €877,675 | €1,285,085 | +€407,410 | +46.4% |
| Income taxes | 67/77 | €223,901 | €320,318 | +€96,417 | +43.1% |
| Profit (loss) for the period | 9904 | €653,774 | €964,767 | +€310,992 | +47.6% |
| Transfer to tax-exempt reserves | 689 | - | €421,000 | +€421,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €653,774 | €543,767 | -€110,008 | -16.8% |
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.