DAMO: 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.
DAMO
Largest movements
- Tangible fixed assets -€414,914
down €414,914 (-37.1%), from €1.1m to €702,874
of which Land and buildings: -€240,669
- Cash -€121,934
down €121,934 (-39.8%), from €306,085 to €184,150
mainly Contributions, distributions and other (-€1.0m) and Debts after one year (-€564,191)
- Financial fixed assets +€94,235
up €94,235 (+6.0%), from €1.6m to €1.7m
- Receivables after one year -€47,577
down €47,577 (-7.0%), from €680,296 to €632,719
- Other debts +€1.0m
new in 2025: €1.0m
- Reserves -€876,418
down €876,418 (-29.2%), from €3.0m to €2.1m
of which Distributable reserves: -€876,418
- Debts after one year -€564,191
down €564,191 (-63.4%), from €889,974 to €325,782
of which Other amounts payable: -€440,955
- Trade debts +€84,804
up €84,804 (+4659.3%), from €1,820 to €86,624
- Tax, wage and social debts -€68,444
down €68,444 (-96.3%), from €71,085 to €2,641
- Gross operating margin -€80,758
down €80,758 (-25.1%), from €322,335 to €241,577
- Depreciation -€63,892
down €63,892 (-45.2%), from €141,415 to €77,523
- Financial charges -€33,661
down €33,661 (-63.1%), from €53,335 to €19,673
- Financial income +€3,547
up €3,547 (+5.1%), from €69,744 to €73,291
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 | €4,304,356 | €3,824,764 | -€479,592 | -11.1% |
| Fixed assets | 21/28 | €2,697,515 | €2,376,835 | -€320,680 | -11.9% |
| Tangible fixed assets | 22/27 | €1,117,788 | €702,874 | -€414,914 | -37.1% |
| Land and buildings | 22 | €705,001 | €464,332 | -€240,669 | -34.1% |
| Plant, machinery and equipment | 23 | €300,414 | €238,541 | -€61,873 | -20.6% |
| Furniture and vehicles | 24 | €112,373 | €0 | -€112,373 | -100.0% |
| Financial fixed assets | 28 | €1,579,727 | €1,673,961 | +€94,235 | +6.0% |
| Current assets | 29/58 | €1,606,841 | €1,447,929 | -€158,912 | -9.9% |
| Amounts receivable after more than one year | 29 | €680,296 | €632,719 | -€47,577 | -7.0% |
| Other amounts receivable | 291 | €680,296 | €632,719 | -€47,577 | -7.0% |
| Stocks and contracts in progress | 3 | €1,425 | €1,030 | -€395 | -27.7% |
| Stocks | 30/36 | €1,425 | €1,030 | -€395 | -27.7% |
| Amounts receivable within one year | 40/41 | €551,503 | €558,449 | +€6,946 | +1.3% |
| Trade receivables | 40 | €21,175 | €92,172 | +€70,997 | +335.3% |
| Other amounts receivable | 41 | €530,328 | €466,277 | -€64,051 | -12.1% |
| Cash at bank and in hand | 54/58 | €306,085 | €184,150 | -€121,934 | -39.8% |
| Deferred charges and accrued income | 490/1 | €67,533 | €71,580 | +€4,047 | +6.0% |
| Total equity and liabilities | 10/49 | €4,304,356 | €3,824,764 | -€479,592 | -11.1% |
| Equity | 10/15 | €3,142,898 | €2,266,479 | -€876,418 | -27.9% |
| Contributions | 10/11 | €144,000 | €144,000 | = | 0.0% |
| Capital | 10 | €144,000 | €144,000 | = | 0.0% |
| Issued capital | 100 | €144,000 | €144,000 | = | 0.0% |
| Reserves | 13 | €2,998,898 | €2,122,479 | -€876,418 | -29.2% |
| Non-distributable reserves | 130/1 | €14,400 | €14,400 | = | 0.0% |
| Legal reserve | 130 | €14,400 | €14,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,321 | €7,321 | = | 0.0% |
| Distributable reserves | 133 | €2,977,177 | €2,100,758 | -€876,418 | -29.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,161,458 | €1,558,284 | +€396,826 | +34.2% |
| Amounts payable after more than one year | 17 | €889,974 | €325,782 | -€564,191 | -63.4% |
| Financial debts | 170/4 | €449,019 | €325,782 | -€123,237 | -27.4% |
| Other amounts payable | 178/9 | €440,955 | €0 | -€440,955 | -100.0% |
| Amounts payable within one year | 42/48 | €234,496 | €1,232,502 | +€998,005 | +425.6% |
| Current portion of amounts payable after more than one year | 42 | €161,591 | €123,237 | -€38,354 | -23.7% |
| Trade debts | 44 | €1,820 | €86,624 | +€84,804 | +4659.3% |
| Suppliers | 440/4 | €1,820 | €86,624 | +€84,804 | +4659.3% |
| Taxes, remuneration and social security | 45 | €71,085 | €2,641 | -€68,444 | -96.3% |
| Taxes | 450/3 | €71,085 | €2,641 | -€68,444 | -96.3% |
| Other amounts payable | 47/48 | - | €1,020,000 | +€1.0m | |
| Accrued charges and deferred income | 492/3 | €36,988 | €0 | -€36,988 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,415 | €77,523 | -€63,892 | -45.2% |
| Other operating charges | 640/8 | €8,530 | €7,985 | -€545 | -6.4% |
| Non-recurring operating charges | 66A | €935 | €17,369 | +€16,434 | +1757.6% |
| Gross operating margin | 9900 | €322,335 | €241,577 | -€80,758 | -25.1% |
| Operating profit (loss) | 9901 | €171,455 | €138,700 | -€32,755 | -19.1% |
| Financial income | 75/76B | €69,744 | €73,291 | +€3,547 | +5.1% |
| Recurring financial income | 75 | €69,744 | €73,291 | +€3,547 | +5.1% |
| Financial charges | 65/66B | €53,335 | €19,673 | -€33,661 | -63.1% |
| Recurring financial charges | 65 | €53,335 | €19,673 | -€33,661 | -63.1% |
| Profit (loss) for the period before taxes | 9903 | €187,865 | €192,318 | +€4,453 | +2.4% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €48,052 | €48,736 | +€684 | +1.4% |
| Profit (loss) for the period | 9904 | €139,813 | €143,582 | +€3,769 | +2.7% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €139,813 | €143,582 | +€3,769 | +2.7% |
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 6 October 2026 via checked.be.