D-CARGO: 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.
D-CARGO
Largest movements
- Receivables within one year +€80,278
up €80,278 (+878.1%), from €9,143 to €89,421
of which Trade receivables: +€77,465
- Cash -€22,938
down €22,938 (-88.2%), from €26,010 to €3,072
mainly Receivables within one year (-€80,278) and Other debts (-€4,831)
- Reserves +€47,558
up €47,558 (+44.6%), from €106,606 to €154,165
- Tax, wage and social debts +€13,808
new in 2025: €13,808
- Other debts -€4,831
down €4,831 (-74.4%), from €6,497 to €1,666
- Gross operating margin +€71,385
up €71,385, from -€420 to €70,965
- Taxes +€22,892
up €22,892 (+2500.6%), from €915 to €23,808
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 | €119,304 | €177,208 | +€57,904 | +48.5% |
| Fixed assets | 21/28 | - | €762 | +€762 | |
| Tangible fixed assets | 22/27 | - | €762 | +€762 | |
| Plant, machinery and equipment | 23 | - | €762 | +€762 | |
| Current assets | 29/58 | €119,304 | €176,446 | +€57,142 | +47.9% |
| Amounts receivable after more than one year | 29 | €83,953 | €83,953 | = | 0.0% |
| Other amounts receivable | 291 | €83,953 | €83,953 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,143 | €89,421 | +€80,278 | +878.1% |
| Trade receivables | 40 | €520 | €77,984 | +€77,465 | +14910.2% |
| Other amounts receivable | 41 | €8,623 | €11,436 | +€2,813 | +32.6% |
| Cash at bank and in hand | 54/58 | €26,010 | €3,072 | -€22,938 | -88.2% |
| Deferred charges and accrued income | 490/1 | €198 | - | -€198 | |
| Total equity and liabilities | 10/49 | €119,304 | €177,208 | +€57,904 | +48.5% |
| Equity | 10/15 | €112,806 | €160,365 | +€47,558 | +42.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €106,606 | €154,165 | +€47,558 | +44.6% |
| Distributable reserves | 133 | €106,606 | €154,165 | +€47,558 | +44.6% |
| Amounts payable | 17/49 | €6,497 | €16,843 | +€10,346 | +159.2% |
| Amounts payable within one year | 42/48 | €6,497 | €16,843 | +€10,346 | +159.2% |
| Trade debts | 44 | - | €1,370 | +€1,370 | |
| Suppliers | 440/4 | - | €1,370 | +€1,370 | |
| Taxes, remuneration and social security | 45 | - | €13,808 | +€13,808 | |
| Taxes | 450/3 | - | €13,808 | +€13,808 | |
| Other amounts payable | 47/48 | €6,497 | €1,666 | -€4,831 | -74.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €381 | +€381 | |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | -€420 | €70,965 | +€71,385 | |
| Operating profit (loss) | 9901 | -€538 | €70,464 | +€71,002 | |
| Financial income | 75/76B | €2,806 | €2,780 | -€26 | -0.9% |
| Recurring financial income | 75 | €2,806 | €2,780 | -€26 | -0.9% |
| Financial charges | 65/66B | €180 | €212 | +€32 | +17.7% |
| Recurring financial charges | 65 | €180 | €212 | +€32 | +17.7% |
| Profit (loss) for the period before taxes | 9903 | €2,088 | €73,032 | +€70,944 | +3398.3% |
| Income taxes | 67/77 | €915 | €23,808 | +€22,892 | +2500.6% |
| Profit (loss) for the period | 9904 | €1,172 | €49,224 | +€48,052 | +4099.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,172 | €49,224 | +€48,052 | +4099.4% |
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 9 October 2026 via checked.be.