Dageraad: 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.
Dageraad
Largest movements
- Cash +€335,484
up €335,484 (+77.1%), from €434,936 to €770,420
mainly Current investments (+€226,658) and Net result for the year (+€48,489)
- Current investments -€226,658
down €226,658 (-21.2%), from €1.1m to €841,274
- Tangible fixed assets -€36,706
down €36,706 (-27.5%), from €133,704 to €96,998
of which Land and buildings: -€37,729
- Reserves +€333,000
up €333,000 (+444.0%), from €75,000 to €408,000
- Profit (loss) carried forward -€284,511
down €284,511 (-19.2%), from €1.5m to €1.2m
- Tax, wage and social debts +€28,301
up €28,301 (+19.4%), from €146,225 to €174,526
of which Remuneration and social security: +€26,730
- Staff costs +€41,525
up €41,525 (+3.9%), from €1.1m to €1.1m
- Financial income +€25,670
up €25,670 (+217.0%), from €11,831 to €37,502
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 | €1,761,787 | €1,837,506 | +€75,719 | +4.3% |
| Fixed assets | 21/28 | €133,704 | €96,998 | -€36,706 | -27.5% |
| Tangible fixed assets | 22/27 | €133,704 | €96,998 | -€36,706 | -27.5% |
| Land and buildings | 22 | €112,687 | €74,958 | -€37,729 | -33.5% |
| Plant, machinery and equipment | 23 | €8,800 | €11,468 | +€2,668 | +30.3% |
| Furniture and vehicles | 24 | €12,217 | €10,573 | -€1,644 | -13.5% |
| Current assets | 29/58 | €1,628,083 | €1,740,508 | +€112,425 | +6.9% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €125,215 | €128,813 | +€3,598 | +2.9% |
| Other amounts receivable | 41 | €125,215 | €128,813 | +€3,598 | +2.9% |
| Current investments | 50/53 | €1,067,932 | €841,274 | -€226,658 | -21.2% |
| Cash at bank and in hand | 54/58 | €434,936 | €770,420 | +€335,484 | +77.1% |
| Total equity and liabilities | 10/49 | €1,761,787 | €1,837,506 | +€75,719 | +4.3% |
| Equity | 10/15 | €1,592,264 | €1,640,753 | +€48,489 | +3.0% |
| Contributions | 10/11 | €31,613 | €31,613 | = | 0.0% |
| Capital | 10 | €31,613 | €31,613 | = | 0.0% |
| Reserves | 13 | €75,000 | €408,000 | +€333,000 | +444.0% |
| Profit (loss) carried forward | 14 | €1,485,651 | €1,201,140 | -€284,511 | -19.2% |
| Amounts payable | 17/49 | €169,523 | €196,753 | +€27,230 | +16.1% |
| Amounts payable within one year | 42/48 | €169,523 | €196,753 | +€27,230 | +16.1% |
| Trade debts | 44 | €23,299 | €22,228 | -€1,071 | -4.6% |
| Suppliers | 440/4 | €23,299 | €22,228 | -€1,071 | -4.6% |
| Taxes, remuneration and social security | 45 | €146,225 | €174,526 | +€28,301 | +19.4% |
| Taxes | 450/3 | €12,568 | €14,139 | +€1,571 | +12.5% |
| Remuneration and social security | 454/9 | €133,657 | €160,387 | +€26,730 | +20.0% |
| Operating income | 70/76A | €1,284,395 | €1,321,402 | +€37,008 | +2.9% |
| Other operating income | 74 | €6,643 | €4,942 | -€1,701 | -25.6% |
| Operating charges | 60/66A | €1,252,612 | €1,305,638 | +€53,025 | +4.2% |
| Goods for resale, raw materials and consumables | 60 | €69,933 | €73,755 | +€3,822 | +5.5% |
| Purchases | 600/8 | €69,933 | €73,755 | +€3,822 | +5.5% |
| Services and other goods | 61 | €73,117 | €82,744 | +€9,628 | +13.2% |
| Remuneration, social security and pensions | 62 | €1,065,529 | €1,107,054 | +€41,525 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,837 | €41,740 | -€2,096 | -4.8% |
| Other operating charges | 640/8 | €197 | €344 | +€147 | +74.5% |
| Operating profit (loss) | 9901 | €31,782 | €15,765 | -€16,018 | -50.4% |
| Financial income | 75/76B | €11,831 | €37,502 | +€25,670 | +217.0% |
| Recurring financial income | 75 | €11,831 | €37,502 | +€25,670 | +217.0% |
| Income from current assets | 751 | €11,831 | €37,502 | +€25,670 | +217.0% |
| Other financial income | 752/9 | €0 | - | -€0 | |
| Financial charges | 65/66B | €447 | €1,017 | +€569 | +127.3% |
| Recurring financial charges | 65 | €447 | €1,017 | +€569 | +127.3% |
| Other financial charges | 652/9 | €447 | €1,017 | +€569 | +127.3% |
| Profit (loss) for the period before taxes | 9903 | €43,166 | €52,250 | +€9,083 | +21.0% |
| Income taxes | 67/77 | €3,549 | €3,761 | +€212 | +6.0% |
| Taxes | 670/3 | €3,549 | €3,761 | +€212 | +6.0% |
| Profit (loss) for the period | 9904 | €39,617 | €48,489 | +€8,872 | +22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,617 | €48,489 | +€8,872 | +22.4% |
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 30 September 2026 via checked.be.