DANGREAU & PARTNERS: 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.
DANGREAU & PARTNERS
Largest movements
- Tangible fixed assets +€68,624
up €68,624 (+9.5%), from €725,669 to €794,293
of which Furniture and vehicles: +€92,108
- Deferred charges and accrued income -€57,236
down €57,236 (-89.6%), from €63,897 to €6,661
- Cash +€48,374
up €48,374 (+32.3%), from €149,961 to €198,335
mainly Net result for the year (+€151,382) and Deferred charges and accrued income (+€57,236)
- Receivables within one year -€30,481
down €30,481 (-54.8%), from €55,586 to €25,105
- Current investments -€27,289
down €27,289 (-18.1%), from €150,358 to €123,069
- Reserves +€150,152
up €150,152 (+43.1%), from €348,565 to €498,717
of which Tax-exempt reserves: +€84,152
- Accrued charges and deferred income -€78,695
down €78,695 (-79.0%), from €99,649 to €20,954
- Trade debts -€38,219
down €38,219 (-72.4%), from €52,805 to €14,586
- Provisions +€28,051
up €28,051 (+181%), from €15,518 to €43,569
- Tax, wage and social debts -€24,074
down €24,074 (-57.4%), from €41,929 to €17,855
- Gross operating margin +€114,063
up €114,063 (+62.7%), from €181,840 to €295,903
- Financial charges -€6,155
down €6,155 (-20.7%), from €29,722 to €23,567
- Depreciation -€5,892
down €5,892 (-10.2%), from €57,637 to €51,745
- Other operating charges +€5,108
up €5,108 (+129%), from €3,951 to €9,059
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 | €1,145,471 | €1,147,463 | +€1,992 | +0.2% |
| Fixed assets | 21/28 | €725,669 | €794,293 | +€68,624 | +9.5% |
| Tangible fixed assets | 22/27 | €725,669 | €794,293 | +€68,624 | +9.5% |
| Land and buildings | 22 | €593,047 | €573,975 | -€19,072 | -3.2% |
| Plant, machinery and equipment | 23 | €17,959 | €13,547 | -€4,412 | -24.6% |
| Furniture and vehicles | 24 | €114,663 | €206,771 | +€92,108 | +80.3% |
| Current assets | 29/58 | €419,802 | €353,170 | -€66,632 | -15.9% |
| Amounts receivable within one year | 40/41 | €55,586 | €25,105 | -€30,481 | -54.8% |
| Trade receivables | 40 | €55,586 | €25,105 | -€30,481 | -54.8% |
| Current investments | 50/53 | €150,358 | €123,069 | -€27,289 | -18.1% |
| Cash at bank and in hand | 54/58 | €149,961 | €198,335 | +€48,374 | +32.3% |
| Deferred charges and accrued income | 490/1 | €63,897 | €6,661 | -€57,236 | -89.6% |
| Total equity and liabilities | 10/49 | €1,145,471 | €1,147,463 | +€1,992 | +0.2% |
| Equity | 10/15 | €495,740 | €647,122 | +€151,382 | +30.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €348,565 | €498,717 | +€150,152 | +43.1% |
| Tax-exempt reserves | 132 | €79,205 | €163,357 | +€84,152 | +106% |
| Distributable reserves | 133 | €269,360 | €335,360 | +€66,000 | +24.5% |
| Profit (loss) carried forward | 14 | €140,975 | €142,205 | +€1,230 | +0.9% |
| Provisions and deferred taxes | 16 | €15,518 | €43,569 | +€28,051 | +181% |
| Deferred taxes | 168 | €15,518 | €43,569 | +€28,051 | +181% |
| Amounts payable | 17/49 | €634,213 | €456,772 | -€177,441 | -28.0% |
| Amounts payable after more than one year | 17 | €122,351 | €105,235 | -€17,116 | -14.0% |
| Financial debts | 170/4 | €122,201 | €105,235 | -€16,966 | -13.9% |
| Other amounts payable | 178/9 | €150 | - | -€150 | |
| Amounts payable within one year | 42/48 | €412,213 | €330,583 | -€81,630 | -19.8% |
| Current portion of amounts payable after more than one year | 42 | €16,667 | €16,967 | +€300 | +1.8% |
| Trade debts | 44 | €52,805 | €14,586 | -€38,219 | -72.4% |
| Suppliers | 440/4 | €52,805 | €14,586 | -€38,219 | -72.4% |
| Taxes, remuneration and social security | 45 | €41,929 | €17,855 | -€24,074 | -57.4% |
| Taxes | 450/3 | €41,929 | €17,855 | -€24,074 | -57.4% |
| Other amounts payable | 47/48 | €300,812 | €281,175 | -€19,637 | -6.5% |
| Accrued charges and deferred income | 492/3 | €99,649 | €20,954 | -€78,695 | -79.0% |
| Non-recurring operating income | 76A | - | €129,527 | +€129,527 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,637 | €51,745 | -€5,892 | -10.2% |
| Other operating charges | 640/8 | €3,951 | €9,059 | +€5,108 | +129% |
| Gross operating margin | 9900 | €181,840 | €295,903 | +€114,063 | +62.7% |
| Operating profit (loss) | 9901 | €120,252 | €235,099 | +€114,847 | +95.5% |
| Financial income | 75/76B | €5,961 | €4,140 | -€1,821 | -30.5% |
| Recurring financial income | 75 | €5,961 | €4,140 | -€1,821 | -30.5% |
| Financial charges | 65/66B | €29,722 | €23,567 | -€6,155 | -20.7% |
| Recurring financial charges | 65 | €29,722 | €23,567 | -€6,155 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €96,491 | €215,672 | +€119,181 | +124% |
| Transfer from deferred taxes | 780 | €495 | €3,254 | +€2,759 | +557% |
| Transfer to deferred taxes | 680 | - | €31,305 | +€31,305 | |
| Income taxes | 67/77 | €34,715 | €36,239 | +€1,524 | +4.4% |
| Profit (loss) for the period | 9904 | €62,271 | €151,382 | +€89,111 | +143% |
| Transfer from tax-exempt reserves | 789 | €1,483 | €9,762 | +€8,279 | +558% |
| Transfer to tax-exempt reserves | 689 | - | €93,914 | +€93,914 | |
| Profit (loss) for the period to be appropriated | 9905 | €63,754 | €67,230 | +€3,476 | +5.5% |
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 18 October 2026 via checked.be.