DAB SMART INVEST: 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.
DAB SMART INVEST
Largest movements
- Financial fixed assets -€4.7m
down €4.7m (-41.1%), from €11.4m to €6.7m
- Current investments -€1.4m
down €1.4m (-58.3%), from €2.4m to €1.0m
- Cash -€179,971
down €179,971 (-70.8%), from €254,299 to €74,327
mainly Net result for the year (-€4.3m) and Other debts (-€2.0m)
- Profit (loss) carried forward -€4.3m
down €4.3m (-47.7%), from €9.1m to €4.7m
- Other debts -€2.0m
down €2.0m (-92.7%), from €2.1m to €154,479
- Financial income -€78,528
down €78,528 (-73.6%), from €106,755 to €28,227
- Gross operating margin +€33,342
up €33,342 (+45.5%), from €73,273 to €106,616
- Depreciation +€17,231
up €17,231 (+20.3%), from €84,698 to €101,929
- Other operating charges +€4,159
up €4,159 (+51.8%), from €8,022 to €12,181
- Staff costs +€1,360
up €1,360 (+2.2%), from €62,737 to €64,096
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.
Derived cash bridge
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 | €17,811,018 | €11,518,736 | -€6.3m | -35.3% |
| Fixed assets | 21/28 | €14,800,768 | €10,043,963 | -€4.8m | -32.1% |
| Tangible fixed assets | 22/27 | €3,433,039 | €3,348,575 | -€84,464 | -2.5% |
| Land and buildings | 22 | €3,425,577 | €3,347,939 | -€77,637 | -2.3% |
| Furniture and vehicles | 24 | €7,463 | €636 | -€6,827 | -91.5% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €11,367,729 | €6,695,388 | -€4.7m | -41.1% |
| Current assets | 29/58 | €3,010,249 | €1,474,773 | -€1.5m | -51.0% |
| Stocks and contracts in progress | 3 | €300,000 | €300,000 | = | 0.0% |
| Stocks | 30/36 | €300,000 | €300,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €43,764 | €96,937 | +€53,173 | +121% |
| Trade receivables | 40 | €10,128 | €22,927 | +€12,800 | +126% |
| Other amounts receivable | 41 | €33,637 | €74,010 | +€40,374 | +120% |
| Current investments | 50/53 | €2,400,873 | €1,000,956 | -€1.4m | -58.3% |
| Cash at bank and in hand | 54/58 | €254,299 | €74,327 | -€179,971 | -70.8% |
| Deferred charges and accrued income | 490/1 | €11,313 | €2,552 | -€8,761 | -77.4% |
| Total equity and liabilities | 10/49 | €17,811,018 | €11,518,736 | -€6.3m | -35.3% |
| Equity | 10/15 | €15,668,646 | €11,352,501 | -€4.3m | -27.5% |
| Contributions | 10/11 | €6,600,000 | €6,600,000 | = | 0.0% |
| Reserves | 13 | €17,846 | €17,846 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,846 | €17,846 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17,846 | €17,846 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,050,800 | €4,734,655 | -€4.3m | -47.7% |
| Amounts payable | 17/49 | €2,142,372 | €166,235 | -€2.0m | -92.2% |
| Amounts payable within one year | 42/48 | €2,140,566 | €165,124 | -€2.0m | -92.3% |
| Trade debts | 44 | €8,072 | €2,298 | -€5,774 | -71.5% |
| Suppliers | 440/4 | €8,072 | €2,298 | -€5,774 | -71.5% |
| Advances received on contracts in progress | 46 | €3,335 | €2,465 | -€870 | -26.1% |
| Taxes, remuneration and social security | 45 | €9,743 | €5,883 | -€3,860 | -39.6% |
| Taxes | 450/3 | €2,324 | €0 | -€2,324 | -100% |
| Remuneration and social security | 454/9 | €7,420 | €5,883 | -€1,537 | -20.7% |
| Other amounts payable | 47/48 | €2,119,415 | €154,479 | -€2.0m | -92.7% |
| Accrued charges and deferred income | 492/3 | €1,806 | €1,111 | -€695 | -38.5% |
| Remuneration, social security and pensions | 62 | €62,737 | €64,096 | +€1,360 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,698 | €101,929 | +€17,231 | +20.3% |
| Other operating charges | 640/8 | €8,022 | €12,181 | +€4,159 | +51.8% |
| Non-recurring operating charges | 66A | - | €4,272,488 | +€4.3m | |
| Gross operating margin | 9900 | €73,273 | €106,616 | +€33,342 | +45.5% |
| Operating profit (loss) | 9901 | -€82,183 | -€4,344,078 | -€4.3m | -5,186% |
| Financial income | 75/76B | €106,755 | €28,227 | -€78,528 | -73.6% |
| Recurring financial income | 75 | €106,755 | €28,227 | -€78,528 | -73.6% |
| Financial charges | 65/66B | €125 | €174 | +€49 | +38.7% |
| Recurring financial charges | 65 | €125 | €174 | +€49 | +38.7% |
| Profit (loss) for the period before taxes | 9903 | €24,447 | -€4,316,025 | -€4.3m | |
| Income taxes | 67/77 | €122 | €120 | -€1 | -1.0% |
| Profit (loss) for the period | 9904 | €24,325 | -€4,316,145 | -€4.3m | |
| Profit (loss) for the period to be appropriated | 9905 | €24,325 | -€4,316,145 | -€4.3m |
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 31 October 2026 via checked.be.