DAC: 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.
DAC
Largest movements
- Receivables within one year -€63,023
down €63,023 (-44.0%), from €143,117 to €80,094
of which Other amounts receivable: -€65,476
- Tangible fixed assets +€33,090
new in 2025: €33,090
- Cash +€3,039
up €3,039 (+677.4%), from €449 to €3,487
mainly Receivables within one year (+€63,023) and Depreciation (+€6,998)
- Reserves -€19,865
down €19,865 (-31.6%), from €62,887 to €43,022
of which Distributable reserves: -€19,865
- Tax, wage and social debts -€7,054
down €7,054 (-98.2%), from €7,181 to €127
- Gross operating margin +€9,010
up €9,010 (+45.6%), from -€19,749 to -€10,739
- Depreciation +€6,998
new in 2025: €6,998
- Financial charges +€435
up €435 (+171.5%), from €254 to €688
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 | €143,566 | €116,671 | -€26,894 | -18.7% |
| Fixed assets | 21/28 | €0 | €33,090 | +€33,090 | |
| Tangible fixed assets | 22/27 | - | €33,090 | +€33,090 | |
| Furniture and vehicles | 24 | - | €33,090 | +€33,090 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €143,566 | €83,582 | -€59,984 | -41.8% |
| Amounts receivable within one year | 40/41 | €143,117 | €80,094 | -€63,023 | -44.0% |
| Trade receivables | 40 | €16,093 | €18,546 | +€2,453 | +15.2% |
| Other amounts receivable | 41 | €127,024 | €61,548 | -€65,476 | -51.5% |
| Cash at bank and in hand | 54/58 | €449 | €3,487 | +€3,039 | +677.4% |
| Total equity and liabilities | 10/49 | €143,566 | €116,671 | -€26,894 | -18.7% |
| Equity | 10/15 | €81,479 | €61,614 | -€19,865 | -24.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €62,887 | €43,022 | -€19,865 | -31.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €61,028 | €41,163 | -€19,865 | -32.6% |
| Amounts payable | 17/49 | €62,087 | €55,057 | -€7,030 | -11.3% |
| Amounts payable within one year | 42/48 | €62,087 | €55,057 | -€7,030 | -11.3% |
| Trade debts | 44 | €51,417 | €52,246 | +€829 | +1.6% |
| Suppliers | 440/4 | €51,417 | €52,246 | +€829 | +1.6% |
| Taxes, remuneration and social security | 45 | €7,181 | €127 | -€7,054 | -98.2% |
| Taxes | 450/3 | €7,181 | €127 | -€7,054 | -98.2% |
| Other amounts payable | 47/48 | €3,489 | €2,683 | -€805 | -23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,998 | +€6,998 | |
| Other operating charges | 640/8 | €1,429 | €1,313 | -€116 | -8.1% |
| Gross operating margin | 9900 | -€19,749 | -€10,739 | +€9,010 | +45.6% |
| Operating profit (loss) | 9901 | -€21,178 | -€19,049 | +€2,129 | +10.1% |
| Financial income | 75/76B | €121 | €0 | -€121 | -100.0% |
| Recurring financial income | 75 | €121 | €0 | -€121 | -100.0% |
| Financial charges | 65/66B | €254 | €688 | +€435 | +171.5% |
| Recurring financial charges | 65 | €254 | €688 | +€435 | +171.5% |
| Profit (loss) for the period before taxes | 9903 | -€21,310 | -€19,738 | +€1,573 | +7.4% |
| Income taxes | 67/77 | €0 | €127 | +€127 | |
| Profit (loss) for the period | 9904 | -€21,310 | -€19,865 | +€1,446 | +6.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,310 | -€19,865 | +€1,446 | +6.8% |
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 11 October 2026 via checked.be.