DAC: 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.
DAC
Largest movements
- Receivables within one year -€19,518
down €19,518 (-54.8%), from €35,631 to €16,113
of which Trade receivables: -€11,828
- Cash +€7,884
up €7,884 (+85.1%), from €9,269 to €17,153
mainly Receivables within one year (+€19,518) and Net result for the year (+€14,583)
- Tangible fixed assets +€3,959
up €3,959 (+222.7%), from €1,777 to €5,736
- Deferred charges and accrued income +€2,456
up €2,456 (+636.4%), from €386 to €2,842
- Reserves -€13,217
down €13,217 (-35.6%), from €37,115 to €23,898
- Other debts +€7,800
new in 2025: €7,800
- Trade debts +€2,302
up €2,302 (+1815.6%), from €127 to €2,429
- Short-term financial debts -€2,207
no longer reported in 2025 (was €2,207)
- Gross operating margin +€7,805
up €7,805 (+47.0%), from €16,594 to €24,400
- Taxes +€1,860
up €1,860 (+68.6%), from €2,711 to €4,571
- Financial charges -€1,692
down €1,692 (-42.3%), from €4,002 to €2,310
- Depreciation +€1,473
up €1,473 (+127.4%), from €1,156 to €2,629
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 | €47,064 | €41,845 | -€5,219 | -11.1% |
| Fixed assets | 21/28 | €1,777 | €5,736 | +€3,959 | +222.7% |
| Tangible fixed assets | 22/27 | €1,777 | €5,736 | +€3,959 | +222.7% |
| Furniture and vehicles | 24 | €1,777 | €5,736 | +€3,959 | +222.7% |
| Current assets | 29/58 | €45,286 | €36,108 | -€9,178 | -20.3% |
| Amounts receivable within one year | 40/41 | €35,631 | €16,113 | -€19,518 | -54.8% |
| Trade receivables | 40 | €22,313 | €10,485 | -€11,828 | -53.0% |
| Other amounts receivable | 41 | €13,318 | €5,628 | -€7,690 | -57.7% |
| Cash at bank and in hand | 54/58 | €9,269 | €17,153 | +€7,884 | +85.1% |
| Deferred charges and accrued income | 490/1 | €386 | €2,842 | +€2,456 | +636.4% |
| Total equity and liabilities | 10/49 | €47,064 | €41,845 | -€5,219 | -11.1% |
| Equity | 10/15 | €40,115 | €26,898 | -€13,217 | -32.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €37,115 | €23,898 | -€13,217 | -35.6% |
| Distributable reserves | 133 | €37,115 | €23,898 | -€13,217 | -35.6% |
| Amounts payable | 17/49 | €6,949 | €14,947 | +€7,998 | +115.1% |
| Amounts payable within one year | 42/48 | €6,949 | €14,947 | +€7,998 | +115.1% |
| Financial debts | 43 | €2,207 | - | -€2,207 | |
| Credit institutions | 430/8 | €2,207 | - | -€2,207 | |
| Trade debts | 44 | €127 | €2,429 | +€2,302 | +1815.6% |
| Suppliers | 440/4 | €127 | €2,429 | +€2,302 | +1815.6% |
| Taxes, remuneration and social security | 45 | €4,615 | €4,718 | +€103 | +2.2% |
| Taxes | 450/3 | €4,615 | €4,718 | +€103 | +2.2% |
| Other amounts payable | 47/48 | - | €7,800 | +€7,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,156 | €2,629 | +€1,473 | +127.4% |
| Other operating charges | 640/8 | €795 | €983 | +€188 | +23.7% |
| Non-recurring operating charges | 66A | €2,590 | - | -€2,590 | |
| Gross operating margin | 9900 | €16,594 | €24,400 | +€7,805 | +47.0% |
| Operating profit (loss) | 9901 | €12,053 | €20,787 | +€8,734 | +72.5% |
| Financial income | 75/76B | €510 | €676 | +€167 | +32.7% |
| Recurring financial income | 75 | €510 | €676 | +€167 | +32.7% |
| Financial charges | 65/66B | €4,002 | €2,310 | -€1,692 | -42.3% |
| Recurring financial charges | 65 | €4,002 | €2,310 | -€1,692 | -42.3% |
| Profit (loss) for the period before taxes | 9903 | €8,561 | €19,154 | +€10,592 | +123.7% |
| Income taxes | 67/77 | €2,711 | €4,571 | +€1,860 | +68.6% |
| Profit (loss) for the period | 9904 | €5,851 | €14,583 | +€8,732 | +149.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,851 | €14,583 | +€8,732 | +149.2% |
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 4 October 2026 via checked.be.