DAK&BAP: 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.
DAK&BAP
Largest movements
- Intangible fixed assets +€152,029
up €152,029 (+397.4%), from €38,254 to €190,283
- Cash -€107,499
down €107,499 (-50.4%), from €213,290 to €105,791
mainly Investment in fixed assets (net) (-€197,329) and Receivables within one year (-€11,924)
- Receivables within one year +€11,924
up €11,924 (+34.9%), from €34,118 to €46,042
of which Trade receivables: +€23,904
- Deferred charges and accrued income +€7,220
up €7,220 (+58.2%), from €12,402 to €19,621
- Stocks and contracts -€5,776
down €5,776 (-33.0%), from €17,520 to €11,744
- Trade debts +€43,001
up €43,001 (+99.2%), from €43,341 to €86,343
- Profit (loss) carried forward +€11,355
up €11,355 (+13.5%), from -€84,322 to -€72,967
- Gross operating margin -€51,413
down €51,413 (-7.2%), from €710,200 to €658,787
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 | €465,131 | €518,761 | +€53,630 | +11.5% |
| Fixed assets | 21/28 | €187,801 | €335,563 | +€147,761 | +78.7% |
| Intangible fixed assets | 21 | €38,254 | €190,283 | +€152,029 | +397.4% |
| Tangible fixed assets | 22/27 | €149,548 | €144,908 | -€4,639 | -3.1% |
| Plant, machinery and equipment | 23 | €73,106 | €76,035 | +€2,929 | +4.0% |
| Furniture and vehicles | 24 | €6,412 | €5,210 | -€1,201 | -18.7% |
| Other tangible fixed assets | 26 | €70,030 | €63,663 | -€6,367 | -9.1% |
| Financial fixed assets | 28 | - | €372 | +€372 | |
| Current assets | 29/58 | €277,329 | €183,198 | -€94,131 | -33.9% |
| Stocks and contracts in progress | 3 | €17,520 | €11,744 | -€5,776 | -33.0% |
| Stocks | 30/36 | €17,520 | €11,744 | -€5,776 | -33.0% |
| Amounts receivable within one year | 40/41 | €34,118 | €46,042 | +€11,924 | +34.9% |
| Trade receivables | 40 | €19,598 | €43,502 | +€23,904 | +122.0% |
| Other amounts receivable | 41 | €14,520 | €2,540 | -€11,980 | -82.5% |
| Cash at bank and in hand | 54/58 | €213,290 | €105,791 | -€107,499 | -50.4% |
| Deferred charges and accrued income | 490/1 | €12,402 | €19,621 | +€7,220 | +58.2% |
| Total equity and liabilities | 10/49 | €465,131 | €518,761 | +€53,630 | +11.5% |
| Equity | 10/15 | -€64,322 | -€52,967 | +€11,355 | +17.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,322 | -€72,967 | +€11,355 | +13.5% |
| Amounts payable | 17/49 | €529,453 | €571,728 | +€42,275 | +8.0% |
| Amounts payable after more than one year | 17 | €225,000 | €225,000 | = | 0.0% |
| Financial debts | 170/4 | €225,000 | €225,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €304,389 | €346,361 | +€41,972 | +13.8% |
| Trade debts | 44 | €43,341 | €86,343 | +€43,001 | +99.2% |
| Suppliers | 440/4 | €43,341 | €86,343 | +€43,001 | +99.2% |
| Taxes, remuneration and social security | 45 | €68,092 | €67,063 | -€1,029 | -1.5% |
| Taxes | 450/3 | €2,416 | €3,666 | +€1,251 | +51.8% |
| Remuneration and social security | 454/9 | €65,676 | €63,396 | -€2,280 | -3.5% |
| Other amounts payable | 47/48 | €192,956 | €192,956 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €64 | €367 | +€303 | +475.2% |
| Remuneration, social security and pensions | 62 | €586,854 | €587,348 | +€494 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,688 | €49,568 | -€4,120 | -7.7% |
| Other operating charges | 640/8 | €2,875 | €2,962 | +€88 | +3.0% |
| Non-recurring operating charges | 66A | - | €6,563 | +€6,563 | |
| Gross operating margin | 9900 | €710,200 | €658,787 | -€51,413 | -7.2% |
| Operating profit (loss) | 9901 | €66,783 | €12,346 | -€54,438 | -81.5% |
| Financial income | 75/76B | €14 | €12 | -€2 | -14.4% |
| Recurring financial income | 75 | €14 | €12 | -€2 | -14.4% |
| Financial charges | 65/66B | €53 | €1,002 | +€949 | +1774.9% |
| Recurring financial charges | 65 | €53 | €1,002 | +€949 | +1774.9% |
| Profit (loss) for the period before taxes | 9903 | €66,744 | €11,355 | -€55,388 | -83.0% |
| Profit (loss) for the period | 9904 | €66,744 | €11,355 | -€55,388 | -83.0% |
| Profit (loss) for the period to be appropriated | 9905 | €66,744 | €11,355 | -€55,388 | -83.0% |
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 3 October 2026 via checked.be.