DANIELS MANAGEMENT EXPERIENCE: 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.
DANIELS MANAGEMENT EXPERIENCE
Largest movements
- Cash -€86,663
down €86,663 (-27.6%), from €313,951 to €227,288
mainly Investment in fixed assets (net) (-€99,606) and Receivables after one year (-€30,000)
- Tangible fixed assets +€59,555
up €59,555 (+11.9%), from €502,219 to €561,774
of which Furniture and vehicles: +€79,667
- Receivables after one year +€30,000
new in 2025: €30,000
- Receivables within one year -€11,258
down €11,258 (-62.3%), from €18,069 to €6,811
of which Trade receivables: -€11,672
- Debts after one year +€22,252
new in 2025: €22,252
- Tax, wage and social debts -€16,967
down €16,967 (-85.6%), from €19,829 to €2,862
of which Taxes: -€16,967
- Reserves -€15,009
down €15,009 (-2.0%), from €741,283 to €726,274
of which Tax-exempt reserves: -€17,107
- Current portion of long-term debt +€9,800
new in 2025: €9,800
- Gross operating margin -€65,461
down €65,461 (-67.0%), from €97,689 to €32,228
- Depreciation +€6,613
up €6,613 (+19.8%), from €33,438 to €40,051
- Other operating charges -€1,989
down €1,989 (-21.7%), from €9,149 to €7,160
- Taxes -€1,626
down €1,626 (-69.6%), from €2,336 to €710
- Financial charges +€1,217
up €1,217 (+427%), from €285 to €1,502
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 | €855,372 | €850,763 | -€4,609 | -0.5% |
| Fixed assets | 21/28 | €502,219 | €561,774 | +€59,555 | +11.9% |
| Tangible fixed assets | 22/27 | €502,219 | €561,774 | +€59,555 | +11.9% |
| Land and buildings | 22 | €446,877 | €428,691 | -€18,186 | -4.1% |
| Plant, machinery and equipment | 23 | €6,346 | €4,420 | -€1,926 | -30.3% |
| Furniture and vehicles | 24 | €48,996 | €128,663 | +€79,667 | +163% |
| Current assets | 29/58 | €353,153 | €288,989 | -€64,164 | -18.2% |
| Amounts receivable after more than one year | 29 | - | €30,000 | +€30,000 | |
| Other amounts receivable | 291 | - | €30,000 | +€30,000 | |
| Amounts receivable within one year | 40/41 | €18,069 | €6,811 | -€11,258 | -62.3% |
| Trade receivables | 40 | €17,112 | €5,440 | -€11,672 | -68.2% |
| Other amounts receivable | 41 | €957 | €1,371 | +€414 | +43.3% |
| Cash at bank and in hand | 54/58 | €313,951 | €227,288 | -€86,663 | -27.6% |
| Deferred charges and accrued income | 490/1 | €21,133 | €24,890 | +€3,757 | +17.8% |
| Total equity and liabilities | 10/49 | €855,372 | €850,763 | -€4,609 | -0.5% |
| Equity | 10/15 | €773,783 | €758,774 | -€15,009 | -1.9% |
| Contributions | 10/11 | €32,500 | €32,500 | = | 0.0% |
| Reserves | 13 | €741,283 | €726,274 | -€15,009 | -2.0% |
| Tax-exempt reserves | 132 | €146,135 | €129,028 | -€17,107 | -11.7% |
| Distributable reserves | 133 | €595,148 | €597,246 | +€2,098 | +0.4% |
| Provisions and deferred taxes | 16 | €61,410 | €56,067 | -€5,343 | -8.7% |
| Deferred taxes | 168 | €61,410 | €56,067 | -€5,343 | -8.7% |
| Amounts payable | 17/49 | €20,179 | €35,922 | +€15,743 | +78.0% |
| Amounts payable after more than one year | 17 | - | €22,252 | +€22,252 | |
| Financial debts | 170/4 | - | €22,252 | +€22,252 | |
| Amounts payable within one year | 42/48 | €20,179 | €13,670 | -€6,509 | -32.3% |
| Current portion of amounts payable after more than one year | 42 | - | €9,800 | +€9,800 | |
| Trade debts | 44 | - | €658 | +€658 | |
| Suppliers | 440/4 | - | €658 | +€658 | |
| Taxes, remuneration and social security | 45 | €19,829 | €2,862 | -€16,967 | -85.6% |
| Taxes | 450/3 | €19,729 | €2,762 | -€16,967 | -86.0% |
| Remuneration and social security | 454/9 | €100 | €100 | = | 0.0% |
| Other amounts payable | 47/48 | €350 | €350 | = | 0.0% |
| Non-recurring operating income | 76A | €60,879 | €205 | -€60,674 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,438 | €40,051 | +€6,613 | +19.8% |
| Other operating charges | 640/8 | €9,149 | €7,160 | -€1,989 | -21.7% |
| Non-recurring operating charges | 66A | - | €4,925 | +€4,925 | |
| Gross operating margin | 9900 | €97,689 | €32,228 | -€65,461 | -67.0% |
| Operating profit (loss) | 9901 | €55,102 | -€19,908 | -€75,010 | |
| Financial income | 75/76B | €2,154 | €1,768 | -€386 | -17.9% |
| Recurring financial income | 75 | €2,154 | €1,768 | -€386 | -17.9% |
| Financial charges | 65/66B | €285 | €1,502 | +€1,217 | +427% |
| Recurring financial charges | 65 | €285 | €1,502 | +€1,217 | +427% |
| Profit (loss) for the period before taxes | 9903 | €56,971 | -€19,642 | -€76,613 | |
| Transfer from deferred taxes | 780 | €2,590 | €5,342 | +€2,752 | +106% |
| Transfer to deferred taxes | 680 | €11,984 | - | -€11,984 | |
| Income taxes | 67/77 | €2,336 | €710 | -€1,626 | -69.6% |
| Profit (loss) for the period | 9904 | €45,241 | -€15,010 | -€60,251 | |
| Transfer from tax-exempt reserves | 789 | €6,100 | €17,108 | +€11,008 | +180% |
| Transfer to tax-exempt reserves | 689 | €47,934 | - | -€47,934 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,407 | €2,098 | -€1,309 | -38.4% |
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 27 October 2026 via checked.be.