DALCAS: 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.
DALCAS
Largest movements
- Cash -€145,216
down €145,216 (-34.6%), from €419,230 to €274,014
mainly Other debts (-€81,230) and Contributions, distributions and other (-€61,812)
- Receivables within one year +€29,780
up €29,780 (+581.3%), from €5,123 to €34,903
of which Other amounts receivable: +€18,934
- Tangible fixed assets +€21,355
up €21,355 (+6.4%), from €335,574 to €356,929
of which Plant, machinery and equipment: +€31,606
- Other debts -€81,230
down €81,230 (-50.0%), from €162,460 to €81,230
- Reserves -€9,805
down €9,805 (-2.0%), from €486,469 to €476,664
of which Distributable reserves: -€9,805
- Gross operating margin -€41,935
down €41,935 (-23.7%), from €177,124 to €135,189
- Taxes -€13,932
down €13,932 (-37.8%), from €36,877 to €22,945
- Depreciation +€8,801
up €8,801 (+72.5%), from €12,143 to €20,944
- Financial charges -€5,518
down €5,518 (-33.9%), from €16,292 to €10,775
- Other operating charges -€3,604
down €3,604 (-11.2%), from €32,122 to €28,518
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 | €767,157 | €668,127 | -€99,030 | -12.9% |
| Fixed assets | 21/28 | €335,574 | €356,929 | +€21,355 | +6.4% |
| Tangible fixed assets | 22/27 | €335,574 | €356,929 | +€21,355 | +6.4% |
| Land and buildings | 22 | €319,873 | €311,987 | -€7,886 | -2.5% |
| Plant, machinery and equipment | 23 | €6,044 | €37,650 | +€31,606 | +522.9% |
| Other tangible fixed assets | 26 | €9,657 | €7,292 | -€2,364 | -24.5% |
| Current assets | 29/58 | €431,583 | €311,198 | -€120,384 | -27.9% |
| Amounts receivable within one year | 40/41 | €5,123 | €34,903 | +€29,780 | +581.3% |
| Trade receivables | 40 | - | €10,845 | +€10,845 | |
| Other amounts receivable | 41 | €5,123 | €24,057 | +€18,934 | +369.6% |
| Cash at bank and in hand | 54/58 | €419,230 | €274,014 | -€145,216 | -34.6% |
| Deferred charges and accrued income | 490/1 | €7,230 | €2,282 | -€4,948 | -68.4% |
| Total equity and liabilities | 10/49 | €767,157 | €668,127 | -€99,030 | -12.9% |
| Equity | 10/15 | €548,469 | €538,664 | -€9,805 | -1.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €486,469 | €476,664 | -€9,805 | -2.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €480,269 | €470,464 | -€9,805 | -2.0% |
| Amounts payable | 17/49 | €218,687 | €129,462 | -€89,225 | -40.8% |
| Amounts payable after more than one year | 17 | €39,139 | €39,139 | = | 0.0% |
| Financial debts | 170/4 | €39,139 | €39,139 | = | 0.0% |
| Amounts payable within one year | 42/48 | €171,301 | €82,461 | -€88,839 | -51.9% |
| Trade debts | 44 | €4,493 | - | -€4,493 | |
| Suppliers | 440/4 | €4,493 | - | -€4,493 | |
| Taxes, remuneration and social security | 45 | €4,348 | €1,232 | -€3,117 | -71.7% |
| Taxes | 450/3 | €4,348 | €1,232 | -€3,117 | -71.7% |
| Other amounts payable | 47/48 | €162,460 | €81,230 | -€81,230 | -50.0% |
| Accrued charges and deferred income | 492/3 | €8,248 | €7,862 | -€386 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,143 | €20,944 | +€8,801 | +72.5% |
| Other operating charges | 640/8 | €32,122 | €28,518 | -€3,604 | -11.2% |
| Gross operating margin | 9900 | €177,124 | €135,189 | -€41,935 | -23.7% |
| Operating profit (loss) | 9901 | €132,859 | €85,727 | -€47,132 | -35.5% |
| Financial charges | 65/66B | €16,292 | €10,775 | -€5,518 | -33.9% |
| Recurring financial charges | 65 | €16,292 | €10,775 | -€5,518 | -33.9% |
| Profit (loss) for the period before taxes | 9903 | €116,567 | €74,952 | -€41,615 | -35.7% |
| Income taxes | 67/77 | €36,877 | €22,945 | -€13,932 | -37.8% |
| Profit (loss) for the period | 9904 | €79,690 | €52,008 | -€27,682 | -34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €79,690 | €52,008 | -€27,682 | -34.7% |
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 29 September 2026 via checked.be.