Dao Guo: 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.
Dao Guo
Largest movements
- Cash +€61,999
up €61,999 (+930.4%), from €6,664 to €68,663
mainly Net result for the year (+€70,400) and Debts after one year (+€63,829)
- Tangible fixed assets +€51,874
up €51,874 (+310.2%), from €16,725 to €68,599
of which Plant, machinery and equipment: +€27,868
- Receivables within one year +€39,900
up €39,900 (+7283.7%), from €548 to €40,448
of which Trade receivables: +€38,292
- Financial fixed assets +€3,700
up €3,700 (+308.3%), from €1,200 to €4,900
- Profit (loss) carried forward +€65,854
up €65,854 (+1284.3%), from €5,128 to €70,982
- Debts after one year +€63,829
new in 2025: €63,829
- Current portion of long-term debt +€12,208
new in 2025: €12,208
- Tax, wage and social debts +€6,772
up €6,772 (+528.3%), from €1,282 to €8,054
of which Remuneration and social security: +€4,845
- Reserves +€4,545
new in 2025: €4,545
- Purchases and services +€215,616
up €215,616 (+685.1%), from €31,470 to €247,086
- Gross operating margin +€101,159
up €101,159 (+1398.9%), from €7,232 to €108,391
- Taxes +€16,928
up €16,928 (+1320.5%), from €1,282 to €18,210
- Staff costs +€10,751
new in 2025: €10,751
- Depreciation +€6,209
up €6,209 (+795.7%), from €780 to €6,990
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 | €27,255 | €183,648 | +€156,393 | +573.8% |
| Fixed assets | 21/28 | €17,925 | €73,499 | +€55,574 | +310.0% |
| Tangible fixed assets | 22/27 | €16,725 | €68,599 | +€51,874 | +310.2% |
| Plant, machinery and equipment | 23 | €9,239 | €37,107 | +€27,868 | +301.7% |
| Other tangible fixed assets | 26 | €7,486 | €31,492 | +€24,005 | +320.7% |
| Financial fixed assets | 28 | €1,200 | €4,900 | +€3,700 | +308.3% |
| Current assets | 29/58 | €9,330 | €110,150 | +€100,819 | +1080.6% |
| Stocks and contracts in progress | 3 | €192 | €493 | +€301 | +157.0% |
| Stocks | 30/36 | €192 | €493 | +€301 | +157.0% |
| Amounts receivable within one year | 40/41 | €548 | €40,448 | +€39,900 | +7283.7% |
| Trade receivables | 40 | - | €38,292 | +€38,292 | |
| Other amounts receivable | 41 | €548 | €2,155 | +€1,608 | +293.5% |
| Cash at bank and in hand | 54/58 | €6,664 | €68,663 | +€61,999 | +930.4% |
| Deferred charges and accrued income | 490/1 | €1,927 | €546 | -€1,381 | -71.7% |
| Total equity and liabilities | 10/49 | €27,255 | €183,648 | +€156,393 | +573.8% |
| Equity | 10/15 | €20,128 | €90,527 | +€70,400 | +349.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | - | €4,545 | +€4,545 | |
| Distributable reserves | 133 | - | €4,545 | +€4,545 | |
| Profit (loss) carried forward | 14 | €5,128 | €70,982 | +€65,854 | +1284.3% |
| Amounts payable | 17/49 | €7,128 | €93,121 | +€85,993 | +1206.5% |
| Amounts payable after more than one year | 17 | - | €63,829 | +€63,829 | |
| Financial debts | 170/4 | - | €63,829 | +€63,829 | |
| Amounts payable within one year | 42/48 | €7,128 | €28,133 | +€21,006 | +294.7% |
| Current portion of amounts payable after more than one year | 42 | - | €12,208 | +€12,208 | |
| Trade debts | 44 | €456 | €4,754 | +€4,299 | +943.5% |
| Suppliers | 440/4 | €456 | €4,754 | +€4,299 | +943.5% |
| Taxes, remuneration and social security | 45 | €1,282 | €8,054 | +€6,772 | +528.3% |
| Taxes | 450/3 | €1,282 | €3,210 | +€1,928 | +150.4% |
| Remuneration and social security | 454/9 | - | €4,845 | +€4,845 | |
| Other amounts payable | 47/48 | €5,390 | €3,117 | -€2,274 | -42.2% |
| Accrued charges and deferred income | 492/3 | - | €1,159 | +€1,159 | |
| Goods, raw materials, services and sundry goods | 60/61 | €31,470 | €247,086 | +€215,616 | +685.1% |
| Remuneration, social security and pensions | 62 | - | €10,751 | +€10,751 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €780 | €6,990 | +€6,209 | +795.7% |
| Other operating charges | 640/8 | - | €1,352 | +€1,352 | |
| Gross operating margin | 9900 | €7,232 | €108,391 | +€101,159 | +1398.9% |
| Operating profit (loss) | 9901 | €6,451 | €89,298 | +€82,847 | +1284.2% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €42 | €692 | +€651 | +1559.5% |
| Recurring financial charges | 65 | €42 | €692 | +€651 | +1559.5% |
| Profit (loss) for the period before taxes | 9903 | €6,409 | €88,609 | +€82,200 | +1282.5% |
| Income taxes | 67/77 | €1,282 | €18,210 | +€16,928 | +1320.5% |
| Profit (loss) for the period | 9904 | €5,128 | €70,400 | +€65,272 | +1273.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,128 | €70,400 | +€65,272 | +1273.0% |
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 9 October 2026 via checked.be.