DAGERAAD: 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.
DAGERAAD
Largest movements
- Tangible fixed assets -€1.3m
down €1.3m (-84.0%), from €1.5m to €243,345
of which Land and buildings: -€1.4m
- Cash +€60,308
up €60,308 (+16.0%), from €378,010 to €438,318
mainly Investment in fixed assets (net) (+€1.3m) and Net result for the year (+€61,472)
- Stocks and contracts -€43,568
down €43,568 (-27.9%), from €156,051 to €112,482
- Reserves -€1.1m
down €1.1m (-79.0%), from €1.4m to €303,413
of which Distributable reserves: -€1.1m
- Contributions -€185,500
down €185,500 (-75.1%), from €247,000 to €61,500
- Profit (loss) carried forward +€34,407
new in 2025: €34,407
- Financial charges -€37,547
down €37,547 (-57.1%), from €65,770 to €28,223
of which Non-recurring financial charges: -€37,625
- Depreciation -€34,201
down €34,201 (-79.1%), from €43,233 to €9,033
- Gross operating margin -€14,908
down €14,908 (-6.9%), from €216,134 to €201,226
- Provisions +€13,000
new in 2025: €13,000
- Taxes +€9,716
up €9,716 (+95.1%), from €10,221 to €19,937
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.
Derived cash bridge
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 | €2,107,471 | €839,797 | -€1.3m | -60.2% |
| Fixed assets | 21/28 | €1,521,511 | €243,345 | -€1.3m | -84.0% |
| Tangible fixed assets | 22/27 | €1,521,511 | €243,345 | -€1.3m | -84.0% |
| Land and buildings | 22 | €1,483,112 | €127,034 | -€1.4m | -91.4% |
| Plant, machinery and equipment | 23 | €30,799 | €105,811 | +€75,012 | +244% |
| Furniture and vehicles | 24 | €7,600 | €10,500 | +€2,900 | +38.2% |
| Current assets | 29/58 | €585,960 | €596,452 | +€10,492 | +1.8% |
| Stocks and contracts in progress | 3 | €156,051 | €112,482 | -€43,568 | -27.9% |
| Stocks | 30/36 | €156,051 | €112,482 | -€43,568 | -27.9% |
| Amounts receivable within one year | 40/41 | €51,899 | €45,012 | -€6,887 | -13.3% |
| Trade receivables | 40 | €1,990 | €13,760 | +€11,770 | +592% |
| Other amounts receivable | 41 | €49,909 | €31,252 | -€18,657 | -37.4% |
| Cash at bank and in hand | 54/58 | €378,010 | €438,318 | +€60,308 | +16.0% |
| Deferred charges and accrued income | 490/1 | - | €640 | +€640 | |
| Total equity and liabilities | 10/49 | €2,107,471 | €839,797 | -€1.3m | -60.2% |
| Equity | 10/15 | €1,691,207 | €399,320 | -€1.3m | -76.4% |
| Contributions | 10/11 | €247,000 | €61,500 | -€185,500 | -75.1% |
| Capital | 10 | €247,000 | €61,500 | -€185,500 | -75.1% |
| Issued capital | 100 | €247,000 | €61,500 | -€185,500 | -75.1% |
| Reserves | 13 | €1,444,207 | €303,413 | -€1.1m | -79.0% |
| Non-distributable reserves | 130/1 | €24,789 | €6,150 | -€18,639 | -75.2% |
| Legal reserve | 130 | €24,789 | €6,150 | -€18,639 | -75.2% |
| Distributable reserves | 133 | €1,419,418 | €297,263 | -€1.1m | -79.1% |
| Profit (loss) carried forward | 14 | - | €34,407 | +€34,407 | |
| Provisions and deferred taxes | 16 | - | €13,000 | +€13,000 | |
| Provisions for liabilities and charges | 160/5 | - | €13,000 | +€13,000 | |
| Other liabilities and charges | 164/5 | - | €13,000 | +€13,000 | |
| Amounts payable | 17/49 | €416,263 | €427,477 | +€11,214 | +2.7% |
| Amounts payable after more than one year | 17 | €1,549 | €1,549 | = | 0.0% |
| Other amounts payable | 178/9 | €1,549 | €1,549 | = | 0.0% |
| Amounts payable within one year | 42/48 | €414,714 | €425,928 | +€11,214 | +2.7% |
| Financial debts | 43 | €2,550 | €2,535 | -€15 | -0.6% |
| Other loans | 439 | €2,550 | €2,535 | -€15 | -0.6% |
| Trade debts | 44 | €11,979 | €10,903 | -€1,076 | -9.0% |
| Suppliers | 440/4 | €11,979 | €10,903 | -€1,076 | -9.0% |
| Taxes, remuneration and social security | 45 | €14,450 | €14,906 | +€456 | +3.2% |
| Taxes | 450/3 | €10,644 | €10,369 | -€275 | -2.6% |
| Remuneration and social security | 454/9 | €3,806 | €4,537 | +€731 | +19.2% |
| Other amounts payable | 47/48 | €385,735 | €397,584 | +€11,849 | +3.1% |
| Remuneration, social security and pensions | 62 | €38,699 | €41,583 | +€2,884 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,233 | €9,033 | -€34,201 | -79.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €13,000 | +€13,000 | |
| Other operating charges | 640/8 | €26,685 | €28,369 | +€1,684 | +6.3% |
| Gross operating margin | 9900 | €216,134 | €201,226 | -€14,908 | -6.9% |
| Operating profit (loss) | 9901 | €107,517 | €109,241 | +€1,724 | +1.6% |
| Financial income | 75/76B | €833 | €390 | -€443 | -53.1% |
| Recurring financial income | 75 | €833 | €390 | -€443 | -53.1% |
| Financial charges | 65/66B | €65,770 | €28,223 | -€37,547 | -57.1% |
| Recurring financial charges | 65 | €28,145 | €28,223 | +€78 | +0.3% |
| Non-recurring financial charges | 66B | €37,625 | - | -€37,625 | |
| Profit (loss) for the period before taxes | 9903 | €42,580 | €81,409 | +€38,829 | +91.2% |
| Income taxes | 67/77 | €10,221 | €19,937 | +€9,716 | +95.1% |
| Profit (loss) for the period | 9904 | €32,359 | €61,472 | +€29,112 | +90.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,359 | €61,472 | +€29,112 | +90.0% |
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 16 October 2026 via checked.be.