D.G.R.C.: what changed
What changed
D.G.R.C.
filed annual accounts (NBB)
Net result for the year
-€74,020
2024 · -€104,892+€30,872
Equity
€3.8m
2024 · €3.9m-€74,020
Cash
€234,909
2024 · €125,459+€109,451
Balance sheet total
€5.4m
2024 · €5.5m-€123,353
Largest movements
Assets
- Tangible fixed assets -€127,679
down €127,679 (-2.7%), from €4.8m to €4.6m
of which Land and buildings: -€126,028
- Cash +€109,451
up €109,451 (+87.2%), from €125,459 to €234,909
mainly Depreciation (+€231,282) and Other debts (+€40,380)
- Intangible fixed assets -€103,602
down €103,602 (-16.7%), from €621,614 to €518,012
Equity and liabilities
- Revaluation surpluses -€87,808
down €87,808 (-2.1%), from €4.1m to €4.0m
- Debts after one year -€85,000
down €85,000 (-5.5%), from €1.5m to €1.5m
of which Financial debts: -€945,000
Income statement
- Gross operating margin +€26,233
up €26,233 (+11.8%), from €223,166 to €249,399
- Financial charges -€20,562
down €20,562 (-32.1%), from €64,081 to €43,518
- Taxes +€10,594
up €10,594 (+35.4%), from €29,943 to €40,537
- Financial income -€3,467
down €3,467 (-100.0%), from €3,467 to €1
- Depreciation +€3,204
up €3,204 (+1.4%), from €228,078 to €231,282
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.
Result 2024
-€104,892
Gross operating margin
+€26,233
Depreciation
-€3,204
Other operating charges
+€1,342
Financial income
-€3,467
Financial charges
+€20,562
Taxes
-€10,594
Result 2025
-€74,020
raises the resultlowers the result
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.
From operations
+€208,736
Investment
€0
Financing
-€99,285
Cash 2024
€125,459
From operations (derived)
+€208,736
Net result for the year
-€74,020
Depreciation
+€231,282
Receivables within one year
+€1,574
Deferred charges and accrued income
-€51
Trade debts
+€7,031
Tax, wage and social debts
+€10,889
Other debts
+€40,380
Accrued charges and deferred income
-€8,348
Financing
-€99,285
Debts after one year
-€85,000
Current portion of long-term debt
-€14,285
Cash 2025
€234,909
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,512,147 | €5,388,793 | -€123,353 | -2.2% |
| Fixed assets | 21/28 | €5,383,209 | €5,151,927 | -€231,282 | -4.3% |
| Intangible fixed assets | 21 | €621,614 | €518,012 | -€103,602 | -16.7% |
| Tangible fixed assets | 22/27 | €4,761,595 | €4,633,915 | -€127,679 | -2.7% |
| Land and buildings | 22 | €4,753,845 | €4,627,816 | -€126,028 | -2.7% |
| Plant, machinery and equipment | 23 | €7,750 | €6,099 | -€1,651 | -21.3% |
| Current assets | 29/58 | €128,938 | €236,866 | +€107,928 | +83.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,574 | €0 | -€1,574 | -100% |
| Other amounts receivable | 41 | €1,574 | €0 | -€1,574 | -100% |
| Cash at bank and in hand | 54/58 | €125,459 | €234,909 | +€109,451 | +87.2% |
| Deferred charges and accrued income | 490/1 | €1,905 | €1,957 | +€51 | +2.7% |
| Total equity and liabilities | 10/49 | €5,512,147 | €5,388,793 | -€123,353 | -2.2% |
| Equity | 10/15 | €3,897,390 | €3,823,371 | -€74,020 | -1.9% |
| Contributions | 10/11 | €64,000 | €64,000 | = | 0.0% |
| Capital | 10 | €64,000 | €64,000 | = | 0.0% |
| Issued capital | 100 | €64,000 | €64,000 | = | 0.0% |
| Revaluation surpluses | 12 | €4,131,485 | €4,043,677 | -€87,808 | -2.1% |
| Reserves | 13 | €6,400 | €6,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,400 | €6,400 | = | 0.0% |
| Legal reserve | 130 | €6,400 | €6,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€304,495 | -€290,706 | +€13,789 | +4.5% |
| Amounts payable | 17/49 | €1,614,756 | €1,565,422 | -€49,334 | -3.1% |
| Amounts payable after more than one year | 17 | €1,535,000 | €1,450,000 | -€85,000 | -5.5% |
| Financial debts | 170/4 | €1,035,000 | €90,000 | -€945,000 | -91.3% |
| Other amounts payable | 178/9 | €500,000 | €1,360,000 | +€860,000 | +172% |
| Amounts payable within one year | 42/48 | €66,908 | €110,922 | +€44,014 | +65.8% |
| Current portion of amounts payable after more than one year | 42 | €59,285 | €45,000 | -€14,285 | -24.1% |
| Trade debts | 44 | €2,974 | €10,005 | +€7,031 | +236% |
| Suppliers | 440/4 | €2,974 | €10,005 | +€7,031 | +236% |
| Taxes, remuneration and social security | 45 | €4,648 | €15,537 | +€10,889 | +234% |
| Taxes | 450/3 | €4,648 | €15,537 | +€10,889 | +234% |
| Other amounts payable | 47/48 | €0 | €40,380 | +€40,380 | |
| Accrued charges and deferred income | 492/3 | €12,848 | €4,500 | -€8,348 | -65.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €228,078 | €231,282 | +€3,204 | +1.4% |
| Other operating charges | 640/8 | €9,424 | €8,082 | -€1,342 | -14.2% |
| Gross operating margin | 9900 | €223,166 | €249,399 | +€26,233 | +11.8% |
| Operating profit (loss) | 9901 | -€14,335 | €10,036 | +€24,370 | |
| Financial income | 75/76B | €3,467 | €1 | -€3,467 | -100.0% |
| Recurring financial income | 75 | €3,467 | €1 | -€3,467 | -100.0% |
| Financial charges | 65/66B | €64,081 | €43,518 | -€20,562 | -32.1% |
| Recurring financial charges | 65 | €64,081 | €43,518 | -€20,562 | -32.1% |
| Profit (loss) for the period before taxes | 9903 | -€74,948 | -€33,482 | +€41,466 | +55.3% |
| Income taxes | 67/77 | €29,943 | €40,537 | +€10,594 | +35.4% |
| Profit (loss) for the period | 9904 | -€104,892 | -€74,020 | +€30,872 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€104,892 | -€74,020 | +€30,872 | +29.4% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.