D-PAC: 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-PAC
Largest movements
- Receivables within one year -€63,816
down €63,816 (-99.5%), from €64,134 to €318
- Cash -€55,542
down €55,542 (-71.4%), from €77,800 to €22,258
mainly Net result for the year (-€78,040) and Current portion of long-term debt (-€35,000)
- Intangible fixed assets -€8,079
down €8,079 (-75.3%), from €10,731 to €2,653
- Profit (loss) carried forward -€78,040
down €78,040 (-225.3%), from -€34,643 to -€112,683
- Current portion of long-term debt -€35,000
down €35,000 (-80.0%), from €43,750 to €8,750
- Other debts -€7,999
down €7,999 (-88.6%), from €9,027 to €1,028
- Tax, wage and social debts -€5,476
down €5,476 (-78.7%), from €6,955 to €1,479
- Trade debts -€1,764
down €1,764 (-76.0%), from €2,319 to €556
- Gross operating margin -€85,977
down €85,977 (-83.9%), from €102,525 to €16,548
- Staff costs -€14,016
down €14,016 (-14.2%), from €99,009 to €84,993
- Depreciation -€1,042
down €1,042 (-10.2%), from €10,188 to €9,145
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 | €161,334 | €33,055 | -€128,279 | -79.5% |
| Fixed assets | 21/28 | €15,235 | €6,090 | -€9,145 | -60.0% |
| Intangible fixed assets | 21 | €10,731 | €2,653 | -€8,079 | -75.3% |
| Tangible fixed assets | 22/27 | €1,594 | €527 | -€1,067 | -66.9% |
| Plant, machinery and equipment | 23 | €19 | €0 | -€19 | -100.0% |
| Furniture and vehicles | 24 | €1,575 | €527 | -€1,048 | -66.5% |
| Financial fixed assets | 28 | €2,910 | €2,910 | = | 0.0% |
| Current assets | 29/58 | €146,099 | €26,966 | -€119,133 | -81.5% |
| Amounts receivable within one year | 40/41 | €64,134 | €318 | -€63,816 | -99.5% |
| Trade receivables | 40 | €64,134 | €318 | -€63,816 | -99.5% |
| Cash at bank and in hand | 54/58 | €77,800 | €22,258 | -€55,542 | -71.4% |
| Deferred charges and accrued income | 490/1 | €4,165 | €4,390 | +€225 | +5.4% |
| Total equity and liabilities | 10/49 | €161,334 | €33,055 | -€128,279 | -79.5% |
| Equity | 10/15 | €99,282 | €21,242 | -€78,040 | -78.6% |
| Contributions | 10/11 | €89,999 | €89,999 | = | 0.0% |
| Reserves | 13 | €43,926 | €43,926 | = | 0.0% |
| Distributable reserves | 133 | €43,926 | €43,926 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,643 | -€112,683 | -€78,040 | -225.3% |
| Amounts payable | 17/49 | €62,052 | €11,813 | -€50,238 | -81.0% |
| Amounts payable within one year | 42/48 | €62,052 | €11,813 | -€50,238 | -81.0% |
| Current portion of amounts payable after more than one year | 42 | €43,750 | €8,750 | -€35,000 | -80.0% |
| Trade debts | 44 | €2,319 | €556 | -€1,764 | -76.0% |
| Suppliers | 440/4 | €2,319 | €556 | -€1,764 | -76.0% |
| Taxes, remuneration and social security | 45 | €6,955 | €1,479 | -€5,476 | -78.7% |
| Taxes | 450/3 | €6,955 | €1,479 | -€5,476 | -78.7% |
| Other amounts payable | 47/48 | €9,027 | €1,028 | -€7,999 | -88.6% |
| Remuneration, social security and pensions | 62 | €99,009 | €84,993 | -€14,016 | -14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,188 | €9,145 | -€1,042 | -10.2% |
| Other operating charges | 640/8 | €182 | €186 | +€4 | +2.1% |
| Gross operating margin | 9900 | €102,525 | €16,548 | -€85,977 | -83.9% |
| Operating profit (loss) | 9901 | -€6,854 | -€77,777 | -€70,922 | -1034.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €248 | €264 | +€15 | +6.2% |
| Recurring financial charges | 65 | €248 | €264 | +€15 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | -€7,103 | -€78,040 | -€70,938 | -998.8% |
| Profit (loss) for the period | 9904 | -€7,103 | -€78,040 | -€70,938 | -998.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,103 | -€78,040 | -€70,938 | -998.8% |
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 8 October 2026 via checked.be.