DAOUT & KERRELS: 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.
DAOUT & KERRELS
Largest movements
- Receivables within one year -€978,805
down €978,805 (-91.0%), from €1.1m to €96,601
of which Other amounts receivable: -€529,114
- Current investments +€651,228
new in 2025: €651,228
- Cash -€405,044
down €405,044 (-59.9%), from €676,217 to €271,173
mainly Other debts (-€708,916) and Current investments (-€651,228)
- Financial fixed assets +€56,070
up €56,070 (+39,868%), from €141 to €56,211
- Other debts -€708,916
down €708,916 (-84.3%), from €840,916 to €132,000
- Trade debts -€443,386
down €443,386 (-83.5%), from €531,035 to €87,649
- Reserves +€377,112
up €377,112 (+20,275%), from €1,860 to €378,972
of which Distributable reserves: +€378,972
- Tax, wage and social debts +€73,119
up €73,119 (+19.1%), from €383,087 to €456,206
- Gross operating margin +€127,712
up €127,712 (+17.2%), from €744,414 to €872,126
- Other operating charges +€63,796
up €63,796 (+769%), from €8,295 to €72,091
- Taxes +€55,498
up €55,498 (+26.9%), from €206,482 to €261,979
- Financial income -€15,350
down €15,350 (-46.6%), from €32,922 to €17,573
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 | €1,984,179 | €1,287,143 | -€697,036 | -35.1% |
| Fixed assets | 21/28 | €185,232 | €224,260 | +€39,028 | +21.1% |
| Tangible fixed assets | 22/27 | €185,091 | €168,049 | -€17,042 | -9.2% |
| Plant, machinery and equipment | 23 | €1,580 | €2,473 | +€893 | +56.5% |
| Furniture and vehicles | 24 | €40,527 | €49,797 | +€9,269 | +22.9% |
| Other tangible fixed assets | 26 | €142,984 | €115,780 | -€27,204 | -19.0% |
| Financial fixed assets | 28 | €141 | €56,211 | +€56,070 | +39,868% |
| Current assets | 29/58 | €1,798,947 | €1,062,883 | -€736,064 | -40.9% |
| Amounts receivable within one year | 40/41 | €1,075,405 | €96,601 | -€978,805 | -91.0% |
| Trade receivables | 40 | €455,120 | €5,429 | -€449,691 | -98.8% |
| Other amounts receivable | 41 | €620,285 | €91,172 | -€529,114 | -85.3% |
| Current investments | 50/53 | - | €651,228 | +€651,228 | |
| Cash at bank and in hand | 54/58 | €676,217 | €271,173 | -€405,044 | -59.9% |
| Deferred charges and accrued income | 490/1 | €47,325 | €43,882 | -€3,443 | -7.3% |
| Total equity and liabilities | 10/49 | €1,984,179 | €1,287,143 | -€697,036 | -35.1% |
| Equity | 10/15 | €208,811 | €585,923 | +€377,112 | +181% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €378,972 | +€377,112 | +20,275% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €378,972 | +€378,972 | |
| Profit (loss) carried forward | 14 | €200,751 | €200,751 | = | 0.0% |
| Amounts payable | 17/49 | €1,775,368 | €701,220 | -€1.1m | -60.5% |
| Amounts payable within one year | 42/48 | €1,775,368 | €696,120 | -€1.1m | -60.8% |
| Current portion of amounts payable after more than one year | 42 | €20,329 | €20,244 | -€85 | -0.4% |
| Financial debts | 43 | - | €21 | +€21 | |
| Credit institutions | 430/8 | - | €21 | +€21 | |
| Trade debts | 44 | €531,035 | €87,649 | -€443,386 | -83.5% |
| Suppliers | 440/4 | €531,035 | €87,649 | -€443,386 | -83.5% |
| Taxes, remuneration and social security | 45 | €383,087 | €456,206 | +€73,119 | +19.1% |
| Taxes | 450/3 | €383,087 | €456,206 | +€73,119 | +19.1% |
| Other amounts payable | 47/48 | €840,916 | €132,000 | -€708,916 | -84.3% |
| Accrued charges and deferred income | 492/3 | - | €5,100 | +€5,100 | |
| Non-recurring operating income | 76A | €10,000 | €1,150 | -€8,850 | -88.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,497 | €36,201 | +€5,704 | +18.7% |
| Other operating charges | 640/8 | €8,295 | €72,091 | +€63,796 | +769% |
| Gross operating margin | 9900 | €744,414 | €872,126 | +€127,712 | +17.2% |
| Operating profit (loss) | 9901 | €705,622 | €763,834 | +€58,212 | +8.2% |
| Financial income | 75/76B | €32,922 | €17,573 | -€15,350 | -46.6% |
| Recurring financial income | 75 | €32,922 | €17,573 | -€15,350 | -46.6% |
| Financial charges | 65/66B | €6,312 | €10,316 | +€4,004 | +63.4% |
| Recurring financial charges | 65 | €6,312 | €10,316 | +€4,004 | +63.4% |
| Profit (loss) for the period before taxes | 9903 | €732,233 | €771,092 | +€38,859 | +5.3% |
| Income taxes | 67/77 | €206,482 | €261,979 | +€55,498 | +26.9% |
| Profit (loss) for the period | 9904 | €525,751 | €509,112 | -€16,639 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €525,751 | €509,112 | -€16,639 | -3.2% |
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 21 October 2026 via checked.be.