D-GLAS: what changed
What changed
D-GLAS
NACE 43.343, Specialised construction activities
filed annual accounts (NBB)
Net result for the year
-€1.8m
2024 · -€1.2m-€602,611
Equity
-€183,194
2024 · €1.6m-€1.8m
Cash
€325,270
2024 · €684,577-€359,307
Balance sheet total
€14.5m
2024 · €17.3m-€2.8m
Largest movements
Assets
- Receivables within one year -€924,367
down €924,367 (-34.3%), from €2.7m to €1.8m
of which Trade receivables: -€925,804
- Tangible fixed assets -€873,064
down €873,064 (-8.3%), from €10.5m to €9.7m
of which Plant, machinery and equipment: -€599,603
- Stocks and contracts -€705,287
down €705,287 (-21.0%), from €3.4m to €2.7m
of which Stocks: -€487,774
- Cash -€359,307
down €359,307 (-52.5%), from €684,577 to €325,270
mainly Net result for the year (-€1.8m) and Debts after one year (-€933,132)
Equity and liabilities
- Reserves -€1.1m
down €1.1m (-78.3%), from €1.4m to €314,049
of which Distributable reserves: -€1.1m
- Debts after one year -€933,132
down €933,132 (-7.2%), from €12.9m to €12.0m
of which Financial debts: -€933,132
- Profit (loss) carried forward -€641,109
new in 2025: -€641,109
Income statement
- Turnover -€2.3m
down €2.3m (-18.1%), from €12.7m to €10.4m
- Goods and materials -€1.1m
down €1.1m (-16.4%), from €6.6m to €5.5m
of which Purchases: -€1.5m
- Services and other goods -€489,885
down €489,885 (-21.4%), from €2.3m to €1.8m
- Depreciation +€232,659
up €232,659 (+21.9%), from €1.1m to €1.3m
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
-€1.2m
Turnover
-€2.3m
Other operating income
-€22
Goods and materials
+€1.1m
Services and other goods
+€489,885
Staff costs
+€7,280
Depreciation
-€232,659
Write-downs
-€65,417
Other operating charges
+€20,921
Other operating items
+€372,662
Financial income
-€230
Financial charges
+€28,413
Taxes
-€1,032
Result 2025
-€1.8m
raises the resultlowers the resultnot broken down further in the accounts
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
+€1.1m
Investment
-€421,510
Financing
-€1.0m
Cash 2024
€684,577
From operations (derived)
+€1.1m
Net result for the year
-€1.8m
Depreciation
+€1.3m
Stocks and contracts
+€705,287
Receivables within one year
+€924,367
Deferred charges and accrued income
-€56,227
Smaller working-capital items
-€3,275
Trade debts
+€81,570
Tax, wage and social debts
-€64,796
Advances received
-€29,948
Accrued charges and deferred income
+€6,166
Investment (derived)
-€421,510
Investment in fixed assets (net)
-€421,510
Financing
-€1.0m
Debts after one year
-€933,132
Current portion of long-term debt
-€88,331
Cash 2025
€325,270
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,289,803 | €14,483,705 | -€2.8m | -16.2% |
| Fixed assets | 21/28 | €10,545,308 | €9,671,943 | -€873,364 | -8.3% |
| Tangible fixed assets | 22/27 | €10,538,943 | €9,665,878 | -€873,064 | -8.3% |
| Land and buildings | 22 | €7,320,133 | €7,268,880 | -€51,254 | -0.7% |
| Plant, machinery and equipment | 23 | €2,058,517 | €1,458,915 | -€599,603 | -29.1% |
| Furniture and vehicles | 24 | €1,136,791 | €921,496 | -€215,295 | -18.9% |
| Other tangible fixed assets | 26 | €23,501 | €16,588 | -€6,913 | -29.4% |
| Financial fixed assets | 28 | €6,365 | €6,065 | -€300 | -4.7% |
| Other financial fixed assets | 284/8 | €6,365 | €6,065 | -€300 | -4.7% |
| Amounts receivable and cash guarantees | 285/8 | €6,365 | €6,065 | -€300 | -4.7% |
| Current assets | 29/58 | €6,744,495 | €4,811,762 | -€1.9m | -28.7% |
| Stocks and contracts in progress | 3 | €3,358,143 | €2,652,856 | -€705,287 | -21.0% |
| Stocks | 30/36 | €2,115,476 | €1,627,702 | -€487,774 | -23.1% |
| Goods purchased for resale | 34 | €2,115,476 | €1,627,702 | -€487,774 | -23.1% |
| Contracts in progress | 37 | €1,242,667 | €1,025,154 | -€217,513 | -17.5% |
| Amounts receivable within one year | 40/41 | €2,694,507 | €1,770,140 | -€924,367 | -34.3% |
| Trade receivables | 40 | €2,482,219 | €1,556,414 | -€925,804 | -37.3% |
| Other amounts receivable | 41 | €212,288 | €213,725 | +€1,438 | +0.7% |
| Cash at bank and in hand | 54/58 | €684,577 | €325,270 | -€359,307 | -52.5% |
| Deferred charges and accrued income | 490/1 | €7,269 | €63,496 | +€56,227 | +774% |
| Total equity and liabilities | 10/49 | €17,289,803 | €14,483,705 | -€2.8m | -16.2% |
| Equity | 10/15 | €1,591,157 | -€183,194 | -€1.8m | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €123,865 | €123,865 | = | 0.0% |
| Reserves | 13 | €1,447,292 | €314,049 | -€1.1m | -78.3% |
| Tax-exempt reserves | 132 | €323,379 | €314,049 | -€9,330 | -2.9% |
| Distributable reserves | 133 | €1,123,912 | - | -€1.1m | |
| Profit (loss) carried forward | 14 | - | -€641,109 | -€641,109 | |
| Provisions and deferred taxes | 16 | €83,972 | €80,862 | -€3,110 | -3.7% |
| Deferred taxes | 168 | €83,972 | €80,862 | -€3,110 | -3.7% |
| Amounts payable | 17/49 | €15,614,674 | €14,586,037 | -€1.0m | -6.6% |
| Amounts payable after more than one year | 17 | €12,910,549 | €11,977,417 | -€933,132 | -7.2% |
| Financial debts | 170/4 | €7,064,884 | €6,131,751 | -€933,132 | -13.2% |
| Credit institutions | 173 | €7,064,884 | €6,131,751 | -€933,132 | -13.2% |
| Other amounts payable | 178/9 | €5,845,665 | €5,845,665 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,700,125 | €2,598,455 | -€101,670 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €1,021,464 | €933,132 | -€88,331 | -8.6% |
| Trade debts | 44 | €1,287,838 | €1,369,408 | +€81,570 | +6.3% |
| Suppliers | 440/4 | €1,287,838 | €1,369,408 | +€81,570 | +6.3% |
| Advances received on contracts in progress | 46 | €44,758 | €14,810 | -€29,948 | -66.9% |
| Taxes, remuneration and social security | 45 | €345,900 | €281,104 | -€64,796 | -18.7% |
| Taxes | 450/3 | €40,976 | €20,957 | -€20,020 | -48.9% |
| Remuneration and social security | 454/9 | €304,924 | €260,147 | -€44,776 | -14.7% |
| Other amounts payable | 47/48 | €165 | - | -€165 | |
| Accrued charges and deferred income | 492/3 | €4,000 | €10,166 | +€6,166 | +154% |
| Operating income | 70/76A | €12,481,499 | €10,539,929 | -€1.9m | -15.6% |
| Turnover | 70 | €12,693,675 | €10,390,625 | -€2.3m | -18.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€433,993 | -€217,513 | +€216,480 | +49.9% |
| Other operating income | 74 | €217,738 | €217,716 | -€22 | 0.0% |
| Non-recurring operating income | 76A | €4,079 | €149,101 | +€145,022 | +3,555% |
| Operating charges | 60/66A | €13,380,587 | €12,068,779 | -€1.3m | -9.8% |
| Goods for resale, raw materials and consumables | 60 | €6,593,883 | €5,513,244 | -€1.1m | -16.4% |
| Purchases | 600/8 | €6,528,962 | €5,025,469 | -€1.5m | -23.0% |
| Change in stocks: decrease (increase) | 609 | €64,921 | €487,774 | +€422,853 | +651% |
| Services and other goods | 61 | €2,287,071 | €1,797,187 | -€489,885 | -21.4% |
| Remuneration, social security and pensions | 62 | €3,361,576 | €3,354,296 | -€7,280 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,062,215 | €1,294,874 | +€232,659 | +21.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €65,417 | +€65,417 | |
| Other operating charges | 640/8 | €60,791 | €39,870 | -€20,921 | -34.4% |
| Non-recurring operating charges | 66A | €15,051 | €3,891 | -€11,160 | -74.1% |
| Operating profit (loss) | 9901 | -€899,088 | -€1,528,850 | -€629,761 | -70.0% |
| Financial income | 75/76B | €614 | €384 | -€230 | -37.5% |
| Recurring financial income | 75 | €614 | €384 | -€230 | -37.5% |
| Income from current assets | 751 | €374 | - | -€374 | |
| Other financial income | 752/9 | €240 | €384 | +€144 | +59.9% |
| Financial charges | 65/66B | €274,016 | €245,603 | -€28,413 | -10.4% |
| Recurring financial charges | 65 | €274,016 | €245,603 | -€28,413 | -10.4% |
| Debt charges | 650 | €241,436 | €235,671 | -€5,765 | -2.4% |
| Other financial charges | 652/9 | €32,580 | €9,932 | -€22,648 | -69.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,172,490 | -€1,774,069 | -€601,579 | -51.3% |
| Transfer from deferred taxes | 780 | €3,110 | €3,110 | = | 0.0% |
| Income taxes | 67/77 | €2,360 | €3,393 | +€1,032 | +43.7% |
| Taxes | 670/3 | €2,360 | €3,393 | +€1,032 | +43.7% |
| Profit (loss) for the period | 9904 | -€1,171,740 | -€1,774,351 | -€602,611 | -51.4% |
| Transfer from tax-exempt reserves | 789 | €9,330 | €9,330 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,162,410 | -€1,765,021 | -€602,611 | -51.8% |
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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 8 November 2026 via checked.be.