DACAR: 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.
What changed
DACAR
NACE 70.100, Activities of head offices
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€520,617
2024 · €1.6m-€1.1m
Equity
€68.6m
2024 · €64.4m+€4.2m
Cash
€2.5m
2024 · €4.9m-€2.4m
Balance sheet total
€99.0m
2024 · €98.3m+€685,917
Largest movements
Assets
- Cash -€2.4m
down €2.4m (-48.3%), from €4.9m to €2.5m
mainly Investment in fixed assets (net) (-€5.2m) and Debts after one year (-€1.7m)
- Financial fixed assets +€1.5m
up €1.5m (+28.0%), from €5.4m to €6.9m
of which Affiliated companies: +€1.5m
- Tangible fixed assets +€1.4m
up €1.4m (+2.9%), from €46.5m to €47.9m
of which Land and buildings: +€18.6m
Equity and liabilities
- Revaluation surpluses +€3.9m
new in 2025: €3.9m
- Debts after one year -€1.7m
down €1.7m (-6.4%), from €26.9m to €25.2m
of which Financial debts: -€1.7m
- Other debts -€1.2m
down €1.2m (-77.0%), from €1.6m to €363,035
Income statement
- Financial income -€1.9m
down €1.9m (-68.7%), from €2.8m to €864,356
- Depreciation +€1.0m
up €1.0m (+74.2%), from €1.4m to €2.4m
- Other operating income +€756,708
up €756,708 (+51.9%), from €1.5m to €2.2m
- Write-downs -€626,793
new in 2025: -€626,793
- Taxes -€394,181
down €394,181 (-95.2%), from €413,909 to €19,728
of which Taxes: -€384,172
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.
Result 2024
€1.6m
Turnover
+€207,580
Other operating income
+€756,708
Goods and materials
+€5,407
Services and other goods
-€3,487
Staff costs
+€102,357
Depreciation
-€1.0m
Write-downs
+€626,793
Other operating charges
-€143,095
Other operating items
+€93,978
Financial income
-€1.9m
Financial charges
-€170,670
Taxes
+€394,181
Result 2025
€520,617
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.
From operations
+€450,186
Investment
-€5.4m
Financing
+€2.6m
Cash 2024
€4.9m
From operations (derived)
+€450,186
Net result for the year
+€520,617
Depreciation
+€2.4m
Receivables after one year
+€69,196
Receivables within one year
+€564,839
Deferred charges and accrued income
-€668,510
Trade debts
-€675,789
Tax, wage and social debts
-€562,352
Other debts
-€1.2m
Accrued charges and deferred income
+€0
Investment (derived)
-€5.4m
Investment in fixed assets (net)
-€5.2m
Current investments
-€263,222
Financing
+€2.6m
Debts after one year
-€1.7m
Current portion of long-term debt
+€155,119
Short-term financial debts
+€500,000
Contributions, distributions and other
+€3.7m
Cash 2025
€2.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €98,297,643 | €98,983,560 | +€685,917 | +0.7% |
| Fixed assets | 21/28 | €52,366,086 | €55,123,987 | +€2.8m | +5.3% |
| Intangible fixed assets | 21 | €469,001 | €351,750 | -€117,250 | -25.0% |
| Tangible fixed assets | 22/27 | €46,519,805 | €47,889,440 | +€1.4m | +2.9% |
| Land and buildings | 22 | €27,835,762 | €46,469,249 | +€18.6m | +66.9% |
| Plant, machinery and equipment | 23 | €87,988 | €155,190 | +€67,201 | +76.4% |
| Furniture and vehicles | 24 | €72,179 | €62,139 | -€10,040 | -13.9% |
| Other tangible fixed assets | 26 | €1,588,506 | €955,827 | -€632,679 | -39.8% |
| Assets under construction and advance payments | 27 | €16,935,370 | €247,035 | -€16.7m | -98.5% |
| Financial fixed assets | 28 | €5,377,281 | €6,882,796 | +€1.5m | +28.0% |
| Affiliated companies | 280/1 | €5,372,460 | €6,866,865 | +€1.5m | +27.8% |
| Participating interests | 280 | €5,372,460 | €6,866,865 | +€1.5m | +27.8% |
| Other financial fixed assets | 284/8 | €4,821 | €15,931 | +€11,111 | +230.5% |
| Shares | 284 | €2,479 | €2,479 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €2,342 | €13,452 | +€11,111 | +474.5% |
| Current assets | 29/58 | €45,931,556 | €43,859,573 | -€2.1m | -4.5% |
| Amounts receivable after more than one year | 29 | €26,101,771 | €26,032,576 | -€69,196 | -0.3% |
| Other amounts receivable | 291 | €26,101,771 | €26,032,576 | -€69,196 | -0.3% |
| Amounts receivable within one year | 40/41 | €3,601,213 | €3,036,374 | -€564,839 | -15.7% |
| Trade receivables | 40 | €1,599,510 | €908,316 | -€691,193 | -43.2% |
| Other amounts receivable | 41 | €2,001,704 | €2,128,058 | +€126,355 | +6.3% |
| Current investments | 50/53 | €10,002,257 | €10,265,479 | +€263,222 | +2.6% |
| Other investments | 51/53 | €10,002,257 | €10,265,479 | +€263,222 | +2.6% |
| Cash at bank and in hand | 54/58 | €4,905,446 | €2,535,765 | -€2.4m | -48.3% |
| Deferred charges and accrued income | 490/1 | €1,320,869 | €1,989,379 | +€668,510 | +50.6% |
| Total equity and liabilities | 10/49 | €98,297,643 | €98,983,560 | +€685,917 | +0.7% |
| Equity | 10/15 | €64,414,893 | €68,609,915 | +€4.2m | +6.5% |
| Contributions | 10/11 | €3,116,956 | €3,116,956 | = | 0.0% |
| Capital | 10 | €3,116,956 | €3,116,956 | = | 0.0% |
| Issued capital | 100 | €3,116,956 | €3,116,956 | = | 0.0% |
| Revaluation surpluses | 12 | - | €3,924,405 | +€3.9m | |
| Reserves | 13 | €60,220,259 | €60,386,129 | +€165,870 | +0.3% |
| Non-distributable reserves | 130/1 | €711,751 | €711,751 | = | 0.0% |
| Legal reserve | 130 | €711,751 | €711,751 | = | 0.0% |
| Distributable reserves | 133 | €59,508,508 | €59,674,378 | +€165,870 | +0.3% |
| Profit (loss) carried forward | 14 | €1,077,678 | €1,182,425 | +€104,747 | +9.7% |
| Amounts payable | 17/49 | €33,882,750 | €30,373,645 | -€3.5m | -10.4% |
| Amounts payable after more than one year | 17 | €26,885,884 | €25,172,859 | -€1.7m | -6.4% |
| Financial debts | 170/4 | €26,275,703 | €24,562,678 | -€1.7m | -6.5% |
| Credit institutions | 173 | €26,275,703 | €24,562,678 | -€1.7m | -6.5% |
| Other amounts payable | 178/9 | €610,180 | €610,180 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,918,483 | €5,122,404 | -€1.8m | -26.0% |
| Current portion of amounts payable after more than one year | 42 | €1,555,497 | €1,710,616 | +€155,119 | +10.0% |
| Financial debts | 43 | €1,500,000 | €2,000,000 | +€500,000 | +33.3% |
| Credit institutions | 430/8 | €1,500,000 | €2,000,000 | +€500,000 | +33.3% |
| Trade debts | 44 | €1,505,465 | €829,676 | -€675,789 | -44.9% |
| Suppliers | 440/4 | €1,505,465 | €829,676 | -€675,789 | -44.9% |
| Taxes, remuneration and social security | 45 | €781,428 | €219,076 | -€562,352 | -72.0% |
| Taxes | 450/3 | €703,191 | €128,977 | -€574,214 | -81.7% |
| Remuneration and social security | 454/9 | €78,237 | €90,099 | +€11,862 | +15.2% |
| Other amounts payable | 47/48 | €1,576,093 | €363,035 | -€1.2m | -77.0% |
| Accrued charges and deferred income | 492/3 | €78,383 | €78,383 | +€0 | 0.0% |
| Operating income | 70/76A | €3,957,563 | €4,916,231 | +€958,668 | +24.2% |
| Turnover | 70 | €2,495,111 | €2,702,691 | +€207,580 | +8.3% |
| Other operating income | 74 | €1,456,832 | €2,213,540 | +€756,708 | +51.9% |
| Non-recurring operating income | 76A | €5,620 | - | -€5,620 | |
| Operating charges | 60/66A | €3,884,032 | €4,225,522 | +€341,490 | +8.8% |
| Goods for resale, raw materials and consumables | 60 | €5,407 | - | -€5,407 | |
| Purchases | 600/8 | €5,407 | - | -€5,407 | |
| Services and other goods | 61 | €955,728 | €959,215 | +€3,487 | +0.4% |
| Remuneration, social security and pensions | 62 | €667,340 | €564,983 | -€102,357 | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,386,181 | €2,415,243 | +€1.0m | +74.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€626,793 | -€626,793 | |
| Other operating charges | 640/8 | €138,311 | €281,407 | +€143,095 | +103.5% |
| Non-recurring operating charges | 66A | €731,065 | €631,468 | -€99,597 | -13.6% |
| Operating profit (loss) | 9901 | €73,531 | €690,709 | +€617,178 | +839.3% |
| Financial income | 75/76B | €2,762,106 | €864,356 | -€1.9m | -68.7% |
| Recurring financial income | 75 | €2,762,106 | €864,356 | -€1.9m | -68.7% |
| Income from financial fixed assets | 750 | €1,924,961 | €126,502 | -€1.8m | -93.4% |
| Income from current assets | 751 | €825,650 | €727,171 | -€98,479 | -11.9% |
| Other financial income | 752/9 | €11,494 | €10,683 | -€811 | -7.1% |
| Financial charges | 65/66B | €844,049 | €1,014,719 | +€170,670 | +20.2% |
| Recurring financial charges | 65 | €844,049 | €1,014,719 | +€170,670 | +20.2% |
| Debt charges | 650 | €819,695 | €989,740 | +€170,045 | +20.7% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€12,000 | - | +€12,000 | |
| Other financial charges | 652/9 | €36,354 | €24,979 | -€11,375 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €1,991,587 | €540,345 | -€1.5m | -72.9% |
| Income taxes | 67/77 | €413,909 | €19,728 | -€394,181 | -95.2% |
| Taxes | 670/3 | €413,909 | €29,737 | -€384,172 | -92.8% |
| Tax adjustments and reversals of tax provisions | 77 | - | €10,009 | +€10,009 | |
| Profit (loss) for the period | 9904 | €1,577,678 | €520,617 | -€1.1m | -67.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,577,678 | €520,617 | -€1.1m | -67.0% |
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 9 October 2026 via checked.be.