DAN & MAN: 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.
DAN & MAN
Largest movements
- Receivables within one year +€210,542
up €210,542 (+163%), from €129,273 to €339,815
of which Trade receivables: +€234,131
- Cash -€18,551
down €18,551 (-51.1%), from €36,330 to €17,779
mainly Receivables within one year (-€210,542) and Tax, wage and social debts (-€11,343)
- Trade debts +€117,734
up €117,734 (+504%), from €23,363 to €141,097
- Advances received +€71,670
new in 2025: €71,670
- Profit (loss) carried forward +€15,370
up €15,370 (+13.1%), from €117,172 to €132,542
- Tax, wage and social debts -€11,343
down €11,343 (-51.4%), from €22,076 to €10,732
of which Taxes: -€13,991
- Other operating charges +€14,076
up €14,076 (+246%), from €5,720 to €19,797
- Taxes -€7,155
down €7,155 (-44.1%), from €16,228 to €9,073
- Gross operating margin -€6,549
down €6,549 (-6.5%), from €100,961 to €94,411
- Staff costs +€3,811
up €3,811 (+10.2%), from €37,541 to €41,352
- Financial charges +€1,253
up €1,253 (+62.4%), from €2,009 to €3,262
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 | €183,071 | €376,501 | +€193,431 | +106% |
| Fixed assets | 21/28 | €15,374 | €16,080 | +€706 | +4.6% |
| Tangible fixed assets | 22/27 | €15,374 | €16,080 | +€706 | +4.6% |
| Plant, machinery and equipment | 23 | €2,739 | €4,594 | +€1,855 | +67.7% |
| Other tangible fixed assets | 26 | €12,634 | €11,486 | -€1,148 | -9.1% |
| Current assets | 29/58 | €167,697 | €360,421 | +€192,724 | +115% |
| Amounts receivable within one year | 40/41 | €129,273 | €339,815 | +€210,542 | +163% |
| Trade receivables | 40 | €13,271 | €247,402 | +€234,131 | +1,764% |
| Other amounts receivable | 41 | €116,002 | €92,413 | -€23,588 | -20.3% |
| Cash at bank and in hand | 54/58 | €36,330 | €17,779 | -€18,551 | -51.1% |
| Deferred charges and accrued income | 490/1 | €2,094 | €2,827 | +€733 | +35.0% |
| Total equity and liabilities | 10/49 | €183,071 | €376,501 | +€193,431 | +106% |
| Equity | 10/15 | €137,632 | €153,002 | +€15,370 | +11.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €117,172 | €132,542 | +€15,370 | +13.1% |
| Amounts payable | 17/49 | €45,439 | €223,499 | +€178,060 | +392% |
| Amounts payable within one year | 42/48 | €45,439 | €223,499 | +€178,060 | +392% |
| Trade debts | 44 | €23,363 | €141,097 | +€117,734 | +504% |
| Suppliers | 440/4 | €23,363 | €141,097 | +€117,734 | +504% |
| Advances received on contracts in progress | 46 | - | €71,670 | +€71,670 | |
| Taxes, remuneration and social security | 45 | €22,076 | €10,732 | -€11,343 | -51.4% |
| Taxes | 450/3 | €17,378 | €3,387 | -€13,991 | -80.5% |
| Remuneration and social security | 454/9 | €4,698 | €7,345 | +€2,648 | +56.4% |
| Remuneration, social security and pensions | 62 | €37,541 | €41,352 | +€3,811 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,419 | €5,557 | +€138 | +2.5% |
| Other operating charges | 640/8 | €5,720 | €19,797 | +€14,076 | +246% |
| Gross operating margin | 9900 | €100,961 | €94,411 | -€6,549 | -6.5% |
| Operating profit (loss) | 9901 | €52,281 | €27,706 | -€24,575 | -47.0% |
| Financial charges | 65/66B | €2,009 | €3,262 | +€1,253 | +62.4% |
| Recurring financial charges | 65 | €2,009 | €3,262 | +€1,253 | +62.4% |
| Profit (loss) for the period before taxes | 9903 | €50,272 | €24,444 | -€25,828 | -51.4% |
| Income taxes | 67/77 | €16,228 | €9,073 | -€7,155 | -44.1% |
| Profit (loss) for the period | 9904 | €34,043 | €15,370 | -€18,673 | -54.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,043 | €15,370 | -€18,673 | -54.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.