DAC - IMMO: 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 - IMMO
Largest movements
- Current investments -€120,191
down €120,191 (-91.3%), from €131,701 to €11,510
- Receivables within one year +€118,707
up €118,707 (+88.4%), from €134,265 to €252,972
of which Trade receivables: +€109,530
- Cash -€64,015
down €64,015 (-53.5%), from €119,603 to €55,588
mainly Receivables within one year (-€118,707) and Net result for the year (-€59,678)
- Tangible fixed assets -€31,749
down €31,749 (-37.8%), from €83,901 to €52,152
of which Furniture and vehicles: -€28,313
- Deferred charges and accrued income -€8,689
down €8,689 (-71.4%), from €12,177 to €3,488
- Profit (loss) carried forward -€59,678
down €59,678 (-30.0%), from -€198,696 to -€258,374
- Trade debts -€22,652
down €22,652 (-21.6%), from €104,708 to €82,056
- Accrued charges and deferred income -€14,790
down €14,790 (-73.9%), from €20,012 to €5,223
- Tax, wage and social debts -€10,644
down €10,644 (-23.6%), from €45,152 to €34,509
of which Taxes: -€11,240
- Turnover +€931,026
new in 2025: €931,026
- Purchases and services +€666,657
new in 2025: €666,657
- Gross operating margin +€138,561
up €138,561 (+99.7%), from €138,910 to €277,471
- Staff costs +€76,773
up €76,773 (+35.1%), from €218,640 to €295,412
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 | €481,648 | €375,711 | -€105,937 | -22.0% |
| Fixed assets | 21/28 | €83,901 | €52,152 | -€31,749 | -37.8% |
| Tangible fixed assets | 22/27 | €83,901 | €52,152 | -€31,749 | -37.8% |
| Plant, machinery and equipment | 23 | €10,968 | €7,533 | -€3,436 | -31.3% |
| Furniture and vehicles | 24 | €72,933 | €44,619 | -€28,313 | -38.8% |
| Current assets | 29/58 | €397,747 | €323,559 | -€74,188 | -18.7% |
| Amounts receivable within one year | 40/41 | €134,265 | €252,972 | +€118,707 | +88.4% |
| Trade receivables | 40 | €119,487 | €229,017 | +€109,530 | +91.7% |
| Other amounts receivable | 41 | €14,779 | €23,955 | +€9,176 | +62.1% |
| Current investments | 50/53 | €131,701 | €11,510 | -€120,191 | -91.3% |
| Cash at bank and in hand | 54/58 | €119,603 | €55,588 | -€64,015 | -53.5% |
| Deferred charges and accrued income | 490/1 | €12,177 | €3,488 | -€8,689 | -71.4% |
| Total equity and liabilities | 10/49 | €481,648 | €375,711 | -€105,937 | -22.0% |
| Equity | 10/15 | €121,504 | €61,826 | -€59,678 | -49.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €258,200 | €258,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €252,000 | €252,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€198,696 | -€258,374 | -€59,678 | -30.0% |
| Amounts payable | 17/49 | €360,144 | €313,885 | -€46,259 | -12.8% |
| Amounts payable after more than one year | 17 | €182,703 | €182,703 | = | 0.0% |
| Financial debts | 170/4 | €182,703 | €182,703 | = | 0.0% |
| Amounts payable within one year | 42/48 | €157,429 | €125,960 | -€31,469 | -20.0% |
| Trade debts | 44 | €104,708 | €82,056 | -€22,652 | -21.6% |
| Suppliers | 440/4 | €104,708 | €82,056 | -€22,652 | -21.6% |
| Taxes, remuneration and social security | 45 | €45,152 | €34,509 | -€10,644 | -23.6% |
| Taxes | 450/3 | €28,483 | €17,243 | -€11,240 | -39.5% |
| Remuneration and social security | 454/9 | €16,669 | €17,265 | +€596 | +3.6% |
| Other amounts payable | 47/48 | €7,568 | €9,396 | +€1,827 | +24.1% |
| Accrued charges and deferred income | 492/3 | €20,012 | €5,223 | -€14,790 | -73.9% |
| Turnover | 70 | - | €931,026 | +€931,026 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €666,657 | +€666,657 | |
| Remuneration, social security and pensions | 62 | €218,640 | €295,412 | +€76,773 | +35.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,357 | €31,749 | -€8,608 | -21.3% |
| Other operating charges | 640/8 | €9,396 | €6,693 | -€2,704 | -28.8% |
| Gross operating margin | 9900 | €138,910 | €277,471 | +€138,561 | +99.7% |
| Operating profit (loss) | 9901 | -€129,483 | -€56,382 | +€73,101 | +56.5% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €2,541 | €2,617 | +€76 | +3.0% |
| Recurring financial charges | 65 | €2,541 | €2,617 | +€76 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | -€132,024 | -€58,999 | +€73,024 | +55.3% |
| Income taxes | 67/77 | €706 | €679 | -€27 | -3.9% |
| Profit (loss) for the period | 9904 | -€132,729 | -€59,678 | +€73,051 | +55.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€132,729 | -€59,678 | +€73,051 | +55.0% |
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 10 October 2026 via checked.be.