DAFCO: 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.
DAFCO
Largest movements
- Receivables within one year -€84,604
down €84,604 (-27.5%), from €307,198 to €222,594
of which Trade receivables: -€70,027
- Cash +€69,256
up €69,256 (+32.1%), from €215,735 to €284,991
mainly Net result for the year (+€192,260) and Receivables within one year (+€84,604)
- Stocks and contracts +€37,349
up €37,349 (+17.3%), from €215,653 to €253,002
- Deferred charges and accrued income -€23,989
down €23,989 (-95.7%), from €25,067 to €1,078
- Tangible fixed assets -€9,152
down €9,152 (-27.7%), from €33,028 to €23,876
of which Plant, machinery and equipment: -€8,345
- Profit (loss) carried forward +€88,160
up €88,160 (+70.8%), from €124,591 to €212,751
- Trade debts -€65,876
down €65,876 (-50.1%), from €131,442 to €65,566
- Debts after one year -€28,207
down €28,207 (-92.5%), from €30,485 to €2,278
- Gross operating margin +€125,438
up €125,438 (+29.3%), from €427,636 to €553,074
- Taxes +€33,937
up €33,937 (+94.2%), from €36,028 to €69,965
- Write-downs +€19,901
up €19,901, from -€4,814 to €15,087
- Staff costs +€10,148
up €10,148 (+4.2%), from €241,408 to €251,557
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 | €796,680 | €785,541 | -€11,139 | -1.4% |
| Fixed assets | 21/28 | €33,028 | €23,876 | -€9,152 | -27.7% |
| Tangible fixed assets | 22/27 | €33,028 | €23,876 | -€9,152 | -27.7% |
| Plant, machinery and equipment | 23 | €32,090 | €23,746 | -€8,345 | -26.0% |
| Furniture and vehicles | 24 | €678 | €0 | -€678 | -100.0% |
| Other tangible fixed assets | 26 | €260 | €130 | -€130 | -50.0% |
| Current assets | 29/58 | €763,652 | €761,665 | -€1,987 | -0.3% |
| Stocks and contracts in progress | 3 | €215,653 | €253,002 | +€37,349 | +17.3% |
| Stocks | 30/36 | €215,653 | €253,002 | +€37,349 | +17.3% |
| Amounts receivable within one year | 40/41 | €307,198 | €222,594 | -€84,604 | -27.5% |
| Trade receivables | 40 | €272,905 | €202,878 | -€70,027 | -25.7% |
| Other amounts receivable | 41 | €34,293 | €19,716 | -€14,577 | -42.5% |
| Cash at bank and in hand | 54/58 | €215,735 | €284,991 | +€69,256 | +32.1% |
| Deferred charges and accrued income | 490/1 | €25,067 | €1,078 | -€23,989 | -95.7% |
| Total equity and liabilities | 10/49 | €796,680 | €785,541 | -€11,139 | -1.4% |
| Equity | 10/15 | €405,761 | €493,921 | +€88,160 | +21.7% |
| Contributions | 10/11 | €114,000 | €114,000 | = | 0.0% |
| Capital | 10 | €114,000 | €114,000 | = | 0.0% |
| Issued capital | 100 | €114,000 | €114,000 | = | 0.0% |
| Reserves | 13 | €167,170 | €167,170 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,400 | €11,400 | = | 0.0% |
| Legal reserve | 130 | €11,400 | €11,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €155,770 | €155,770 | = | 0.0% |
| Profit (loss) carried forward | 14 | €124,591 | €212,751 | +€88,160 | +70.8% |
| Amounts payable | 17/49 | €390,920 | €291,620 | -€99,299 | -25.4% |
| Amounts payable after more than one year | 17 | €30,485 | €2,278 | -€28,207 | -92.5% |
| Financial debts | 170/4 | €30,485 | €2,278 | -€28,207 | -92.5% |
| Amounts payable within one year | 42/48 | €360,149 | €289,342 | -€70,807 | -19.7% |
| Current portion of amounts payable after more than one year | 42 | €32,373 | €28,207 | -€4,166 | -12.9% |
| Financial debts | 43 | €37,267 | €39,730 | +€2,462 | +6.6% |
| Credit institutions | 430/8 | €37,267 | €39,730 | +€2,462 | +6.6% |
| Trade debts | 44 | €131,442 | €65,566 | -€65,876 | -50.1% |
| Suppliers | 440/4 | €131,442 | €65,566 | -€65,876 | -50.1% |
| Taxes, remuneration and social security | 45 | €54,967 | €51,739 | -€3,228 | -5.9% |
| Taxes | 450/3 | €17,115 | €18,012 | +€897 | +5.2% |
| Remuneration and social security | 454/9 | €37,852 | €33,727 | -€4,125 | -10.9% |
| Other amounts payable | 47/48 | €104,100 | €104,100 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €285 | - | -€285 | |
| Non-recurring operating income | 76A | - | €3,301 | +€3,301 | |
| Remuneration, social security and pensions | 62 | €241,408 | €251,557 | +€10,148 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,206 | €9,152 | -€5,054 | -35.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,814 | €15,087 | +€19,901 | |
| Other operating charges | 640/8 | €1,555 | €753 | -€802 | -51.6% |
| Gross operating margin | 9900 | €427,636 | €553,074 | +€125,438 | +29.3% |
| Operating profit (loss) | 9901 | €175,281 | €276,526 | +€101,244 | +57.8% |
| Financial income | 75/76B | €4,094 | €8,145 | +€4,051 | +99.0% |
| Recurring financial income | 75 | €4,094 | €8,145 | +€4,051 | +99.0% |
| Financial charges | 65/66B | €19,044 | €22,446 | +€3,402 | +17.9% |
| Recurring financial charges | 65 | €19,044 | €22,446 | +€3,402 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | €160,332 | €262,225 | +€101,893 | +63.6% |
| Income taxes | 67/77 | €36,028 | €69,965 | +€33,937 | +94.2% |
| Profit (loss) for the period | 9904 | €124,304 | €192,260 | +€67,956 | +54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €124,304 | €192,260 | +€67,956 | +54.7% |
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 6 October 2026 via checked.be.