DALES: 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.
DALES
Largest movements
- Stocks and contracts +€934,745
up €934,745 (+516.3%), from €181,059 to €1.1m
- Cash +€55,867
up €55,867 (+108.6%), from €51,454 to €107,321
mainly Debts after one year (+€819,818) and Net result for the year (+€134,234)
- Debts after one year +€819,818
up €819,818 (+201.5%), from €406,767 to €1.2m
- Profit (loss) carried forward +€134,234
up €134,234, from -€75,331 to €58,904
- Tax, wage and social debts +€23,733
new in 2025: €23,733
- Trade debts +€16,215
up €16,215 (+731.8%), from €2,216 to €18,430
- Gross operating margin +€290,930
up €290,930, from -€46,379 to €244,551
- Financial charges +€49,998
up €49,998 (+569.1%), from €8,785 to €58,783
- Other operating charges +€19,447
up €19,447 (+603.8%), from €3,221 to €22,668
- Taxes +€15,047
new in 2025: €15,047
- Depreciation +€4,080
up €4,080 (+41.9%), from €9,739 to €13,819
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 | €353,215 | €1,334,833 | +€981,619 | +277.9% |
| Fixed assets | 21/28 | €111,043 | €107,446 | -€3,597 | -3.2% |
| Intangible fixed assets | 21 | €2,351 | €1,787 | -€564 | -24.0% |
| Tangible fixed assets | 22/27 | €108,692 | €105,659 | -€3,033 | -2.8% |
| Land and buildings | 22 | €107,965 | €102,059 | -€5,906 | -5.5% |
| Furniture and vehicles | 24 | €727 | €3,600 | +€2,873 | +395.3% |
| Current assets | 29/58 | €242,172 | €1,227,387 | +€985,215 | +406.8% |
| Stocks and contracts in progress | 3 | €181,059 | €1,115,804 | +€934,745 | +516.3% |
| Stocks | 30/36 | €181,059 | €1,115,804 | +€934,745 | +516.3% |
| Amounts receivable within one year | 40/41 | €1,008 | €0 | -€1,008 | -100.0% |
| Other amounts receivable | 41 | €1,008 | €0 | -€1,008 | -100.0% |
| Cash at bank and in hand | 54/58 | €51,454 | €107,321 | +€55,867 | +108.6% |
| Deferred charges and accrued income | 490/1 | €8,651 | €4,261 | -€4,389 | -50.7% |
| Total equity and liabilities | 10/49 | €353,215 | €1,334,833 | +€981,619 | +277.9% |
| Equity | 10/15 | -€70,331 | €63,904 | +€134,234 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,331 | €58,904 | +€134,234 | |
| Amounts payable | 17/49 | €423,545 | €1,270,929 | +€847,384 | +200.1% |
| Amounts payable after more than one year | 17 | €406,767 | €1,226,585 | +€819,818 | +201.5% |
| Financial debts | 170/4 | €406,767 | €1,226,585 | +€819,818 | +201.5% |
| Amounts payable within one year | 42/48 | €14,216 | €44,088 | +€29,872 | +210.1% |
| Trade debts | 44 | €2,216 | €18,430 | +€16,215 | +731.8% |
| Suppliers | 440/4 | €2,216 | €18,430 | +€16,215 | +731.8% |
| Taxes, remuneration and social security | 45 | - | €23,733 | +€23,733 | |
| Taxes | 450/3 | - | €23,733 | +€23,733 | |
| Other amounts payable | 47/48 | €12,000 | €1,924 | -€10,076 | -84.0% |
| Accrued charges and deferred income | 492/3 | €2,563 | €257 | -€2,306 | -90.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,739 | €13,819 | +€4,080 | +41.9% |
| Other operating charges | 640/8 | €3,221 | €22,668 | +€19,447 | +603.8% |
| Non-recurring operating charges | 66A | €7,300 | €0 | -€7,300 | -100.0% |
| Gross operating margin | 9900 | -€46,379 | €244,551 | +€290,930 | |
| Operating profit (loss) | 9901 | -€66,640 | €208,064 | +€274,704 | |
| Financial income | 75/76B | €94 | €0 | -€93 | -99.9% |
| Recurring financial income | 75 | €94 | €0 | -€93 | -99.9% |
| Financial charges | 65/66B | €8,785 | €58,783 | +€49,998 | +569.1% |
| Recurring financial charges | 65 | €8,785 | €58,783 | +€49,998 | +569.1% |
| Profit (loss) for the period before taxes | 9903 | -€75,331 | €149,282 | +€224,612 | |
| Income taxes | 67/77 | - | €15,047 | +€15,047 | |
| Profit (loss) for the period | 9904 | -€75,331 | €134,234 | +€209,565 | |
| Profit (loss) for the period to be appropriated | 9905 | -€75,331 | €134,234 | +€209,565 |
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 11 October 2026 via checked.be.