DAP Argus: 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.
DAP Argus
Largest movements
- Tangible fixed assets -€26,519
down €26,519 (-13.6%), from €195,679 to €169,160
- Cash +€25,096
up €25,096 (+92.3%), from €27,204 to €52,300
mainly Net result for the year (+€43,410) and Depreciation (+€36,519)
- Stocks and contracts +€13,824
up €13,824 (+31.5%), from €43,818 to €57,642
- Intangible fixed assets -€10,000
down €10,000 (-40.0%), from €25,000 to €15,000
- Receivables within one year -€6,762
down €6,762 (-73.8%), from €9,166 to €2,405
of which Other amounts receivable: -€6,762
- Reserves +€18,410
up €18,410 (+15.3%), from €120,434 to €138,844
- Debts after one year -€14,661
down €14,661 (-8.7%), from €167,862 to €153,201
- Trade debts -€5,166
down €5,166 (-58.6%), from €8,821 to €3,655
- Short-term financial debts -€3,974
down €3,974 (-76.7%), from €5,180 to €1,207
- Tax, wage and social debts +€3,936
up €3,936 (+41.8%), from €9,427 to €13,363
of which Remuneration and social security: +€4,240
- Gross operating margin +€32,790
up €32,790 (+23.8%), from €137,512 to €170,302
- Staff costs +€14,834
up €14,834 (+26.4%), from €56,271 to €71,105
- Taxes +€2,743
up €2,743 (+28.1%), from €9,775 to €12,518
- Depreciation +€2,725
up €2,725 (+8.1%), from €33,794 to €36,519
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 | €346,751 | €344,049 | -€2,702 | -0.8% |
| Fixed assets | 21/28 | €220,679 | €184,160 | -€36,519 | -16.5% |
| Intangible fixed assets | 21 | €25,000 | €15,000 | -€10,000 | -40.0% |
| Tangible fixed assets | 22/27 | €195,679 | €169,160 | -€26,519 | -13.6% |
| Land and buildings | 22 | €159,749 | €147,398 | -€12,351 | -7.7% |
| Plant, machinery and equipment | 23 | €23,873 | €14,580 | -€9,293 | -38.9% |
| Furniture and vehicles | 24 | €673 | €236 | -€437 | -64.9% |
| Other tangible fixed assets | 26 | €11,385 | €6,946 | -€4,439 | -39.0% |
| Current assets | 29/58 | €126,072 | €159,889 | +€33,817 | +26.8% |
| Stocks and contracts in progress | 3 | €43,818 | €57,642 | +€13,824 | +31.5% |
| Stocks | 30/36 | €43,818 | €57,642 | +€13,824 | +31.5% |
| Amounts receivable within one year | 40/41 | €9,166 | €2,405 | -€6,762 | -73.8% |
| Trade receivables | 40 | €318 | €318 | = | 0.0% |
| Other amounts receivable | 41 | €8,848 | €2,087 | -€6,762 | -76.4% |
| Current investments | 50/53 | €44,000 | €44,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €27,204 | €52,300 | +€25,096 | +92.3% |
| Deferred charges and accrued income | 490/1 | €1,884 | €3,543 | +€1,659 | +88.0% |
| Total equity and liabilities | 10/49 | €346,751 | €344,049 | -€2,702 | -0.8% |
| Equity | 10/15 | €139,034 | €157,444 | +€18,410 | +13.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €120,434 | €138,844 | +€18,410 | +15.3% |
| Distributable reserves | 133 | €120,434 | €138,844 | +€18,410 | +15.3% |
| Amounts payable | 17/49 | €207,717 | €186,605 | -€21,112 | -10.2% |
| Amounts payable after more than one year | 17 | €167,862 | €153,201 | -€14,661 | -8.7% |
| Financial debts | 170/4 | €167,862 | €153,201 | -€14,661 | -8.7% |
| Amounts payable within one year | 42/48 | €39,856 | €33,405 | -€6,451 | -16.2% |
| Current portion of amounts payable after more than one year | 42 | €16,428 | €14,643 | -€1,785 | -10.9% |
| Financial debts | 43 | €5,180 | €1,207 | -€3,974 | -76.7% |
| Credit institutions | 430/8 | €5,180 | €1,207 | -€3,974 | -76.7% |
| Trade debts | 44 | €8,821 | €3,655 | -€5,166 | -58.6% |
| Suppliers | 440/4 | €8,821 | €3,655 | -€5,166 | -58.6% |
| Taxes, remuneration and social security | 45 | €9,427 | €13,363 | +€3,936 | +41.8% |
| Taxes | 450/3 | €3,696 | €3,392 | -€304 | -8.2% |
| Remuneration and social security | 454/9 | €5,731 | €9,971 | +€4,240 | +74.0% |
| Other amounts payable | 47/48 | - | €537 | +€537 | |
| Remuneration, social security and pensions | 62 | €56,271 | €71,105 | +€14,834 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,794 | €36,519 | +€2,725 | +8.1% |
| Other operating charges | 640/8 | €2,027 | €2,622 | +€595 | +29.4% |
| Gross operating margin | 9900 | €137,512 | €170,302 | +€32,790 | +23.8% |
| Operating profit (loss) | 9901 | €45,421 | €60,056 | +€14,636 | +32.2% |
| Financial income | 75/76B | €1,941 | €1,022 | -€919 | -47.3% |
| Recurring financial income | 75 | €1,941 | €1,022 | -€919 | -47.3% |
| Financial charges | 65/66B | €5,374 | €5,151 | -€223 | -4.2% |
| Recurring financial charges | 65 | €5,374 | €5,151 | -€223 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €41,988 | €55,928 | +€13,940 | +33.2% |
| Income taxes | 67/77 | €9,775 | €12,518 | +€2,743 | +28.1% |
| Profit (loss) for the period | 9904 | €32,213 | €43,410 | +€11,197 | +34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €32,213 | €43,410 | +€11,197 | +34.8% |
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 13 October 2026 via checked.be.