DAP Baert-Holsters: what changed
DAP Baert-Holsters
Largest movements
- Cash +€92,996
up €92,996 (+174%), from €53,336 to €146,332
mainly Net result for the year (+€78,285) and Depreciation (+€15,336)
- Tangible fixed assets -€13,974
down €13,974 (-20.9%), from €66,821 to €52,847
of which Plant, machinery and equipment: -€11,574
- Receivables within one year -€7,778
down €7,778 (-86.2%), from €9,022 to €1,244
of which Other amounts receivable: -€7,317
- Reserves +€78,285
up €78,285 (+42.0%), from €186,488 to €264,773
- Debts after one year -€10,233
down €10,233 (-85.6%), from €11,951 to €1,718
- Trade debts +€7,438
up €7,438 (+119%), from €6,271 to €13,709
- Gross operating margin +€19,324
up €19,324 (+19.8%), from €97,495 to €116,819
- Taxes +€5,291
up €5,291 (+33.9%), from €15,603 to €20,894
- Depreciation -€3,159
down €3,159 (-17.1%), from €18,494 to €15,336
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €228,145 | €300,615 | +€72,470 | +31.8% |
| Fixed assets | 21/28 | €66,821 | €52,847 | -€13,974 | -20.9% |
| Tangible fixed assets | 22/27 | €66,821 | €52,847 | -€13,974 | -20.9% |
| Plant, machinery and equipment | 23 | €62,021 | €50,447 | -€11,574 | -18.7% |
| Other tangible fixed assets | 26 | €4,800 | €2,400 | -€2,400 | -50.0% |
| Current assets | 29/58 | €161,324 | €247,768 | +€86,444 | +53.6% |
| Stocks and contracts in progress | 3 | €17,214 | €17,576 | +€362 | +2.1% |
| Stocks | 30/36 | €17,214 | €17,576 | +€362 | +2.1% |
| Amounts receivable within one year | 40/41 | €9,022 | €1,244 | -€7,778 | -86.2% |
| Trade receivables | 40 | €1,256 | €795 | -€461 | -36.7% |
| Other amounts receivable | 41 | €7,766 | €449 | -€7,317 | -94.2% |
| Current investments | 50/53 | €80,637 | €81,342 | +€705 | +0.9% |
| Cash at bank and in hand | 54/58 | €53,336 | €146,332 | +€92,996 | +174% |
| Deferred charges and accrued income | 490/1 | €1,115 | €1,274 | +€159 | +14.3% |
| Total equity and liabilities | 10/49 | €228,145 | €300,615 | +€72,470 | +31.8% |
| Equity | 10/15 | €191,488 | €269,773 | +€78,285 | +40.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €186,488 | €264,773 | +€78,285 | +42.0% |
| Distributable reserves | 133 | €186,488 | €264,773 | +€78,285 | +42.0% |
| Amounts payable | 17/49 | €36,657 | €30,842 | -€5,815 | -15.9% |
| Amounts payable after more than one year | 17 | €11,951 | €1,718 | -€10,233 | -85.6% |
| Financial debts | 170/4 | €11,951 | €1,718 | -€10,233 | -85.6% |
| Amounts payable within one year | 42/48 | €24,706 | €29,124 | +€4,418 | +17.9% |
| Current portion of amounts payable after more than one year | 42 | €10,104 | €10,233 | +€129 | +1.3% |
| Trade debts | 44 | €6,271 | €13,709 | +€7,438 | +119% |
| Suppliers | 440/4 | €6,271 | €13,709 | +€7,438 | +119% |
| Taxes, remuneration and social security | 45 | €6,087 | €4,931 | -€1,156 | -19.0% |
| Taxes | 450/3 | €6,087 | €4,931 | -€1,156 | -19.0% |
| Other amounts payable | 47/48 | €2,243 | €250 | -€1,993 | -88.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,494 | €15,336 | -€3,159 | -17.1% |
| Other operating charges | 640/8 | €2,080 | €1,530 | -€549 | -26.4% |
| Gross operating margin | 9900 | €97,495 | €116,819 | +€19,324 | +19.8% |
| Operating profit (loss) | 9901 | €76,921 | €99,953 | +€23,032 | +29.9% |
| Financial income | 75/76B | €662 | €1,034 | +€373 | +56.4% |
| Recurring financial income | 75 | €662 | €1,034 | +€373 | +56.4% |
| Financial charges | 65/66B | €1,577 | €1,808 | +€231 | +14.7% |
| Recurring financial charges | 65 | €1,577 | €1,808 | +€231 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | €76,006 | €99,179 | +€23,173 | +30.5% |
| Income taxes | 67/77 | €15,603 | €20,894 | +€5,291 | +33.9% |
| Profit (loss) for the period | 9904 | €60,403 | €78,285 | +€17,882 | +29.6% |
| Profit (loss) for the period to be appropriated | 9905 | €60,403 | €78,285 | +€17,882 | +29.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.