DAP Geert Vanderheyden: 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 Geert Vanderheyden
Largest movements
- Cash +€134,134
up €134,134 (+65.9%), from €203,693 to €337,827
mainly Net result for the year (+€165,451) and Other debts (+€67,237)
- Receivables within one year +€51,319
up €51,319 (+85.6%), from €59,948 to €111,267
- Tangible fixed assets -€48,099
down €48,099 (-31.2%), from €154,056 to €105,957
of which Furniture and vehicles: -€37,631
- Stocks and contracts +€10,574
up €10,574 (+30.6%), from €34,547 to €45,121
- Intangible fixed assets -€8,983
down €8,983 (-7.3%), from €123,519 to €114,536
- Other debts +€67,237
up €67,237 (+26,058%), from €258 to €67,495
- Reserves +€54,335
up €54,335 (+12.8%), from €424,067 to €478,403
- Tax, wage and social debts +€32,619
up €32,619 (+178%), from €18,362 to €50,981
- Current portion of long-term debt -€10,599
down €10,599 (-62.7%), from €16,904 to €6,305
- Gross operating margin +€93,871
up €93,871 (+45.3%), from €207,317 to €301,188
- Taxes +€30,728
up €30,728 (+74.3%), from €41,342 to €72,069
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 | €593,284 | €727,812 | +€134,527 | +22.7% |
| Fixed assets | 21/28 | €277,575 | €220,492 | -€57,082 | -20.6% |
| Intangible fixed assets | 21 | €123,519 | €114,536 | -€8,983 | -7.3% |
| Tangible fixed assets | 22/27 | €154,056 | €105,957 | -€48,099 | -31.2% |
| Land and buildings | 22 | €21,099 | €17,699 | -€3,400 | -16.1% |
| Plant, machinery and equipment | 23 | €37,829 | €30,761 | -€7,068 | -18.7% |
| Furniture and vehicles | 24 | €95,127 | €57,496 | -€37,631 | -39.6% |
| Current assets | 29/58 | €315,710 | €507,319 | +€191,609 | +60.7% |
| Stocks and contracts in progress | 3 | €34,547 | €45,121 | +€10,574 | +30.6% |
| Stocks | 30/36 | €34,547 | €45,121 | +€10,574 | +30.6% |
| Amounts receivable within one year | 40/41 | €59,948 | €111,267 | +€51,319 | +85.6% |
| Trade receivables | 40 | €59,948 | €111,267 | +€51,319 | +85.6% |
| Cash at bank and in hand | 54/58 | €203,693 | €337,827 | +€134,134 | +65.9% |
| Deferred charges and accrued income | 490/1 | €17,521 | €13,104 | -€4,417 | -25.2% |
| Total equity and liabilities | 10/49 | €593,284 | €727,812 | +€134,527 | +22.7% |
| Equity | 10/15 | €518,599 | €572,935 | +€54,335 | +10.5% |
| Contributions | 10/11 | €94,532 | €94,532 | = | 0.0% |
| Reserves | 13 | €424,067 | €478,403 | +€54,335 | +12.8% |
| Distributable reserves | 133 | €424,067 | €478,403 | +€54,335 | +12.8% |
| Amounts payable | 17/49 | €74,685 | €154,877 | +€80,192 | +107% |
| Amounts payable after more than one year | 17 | €16,955 | €10,650 | -€6,305 | -37.2% |
| Financial debts | 170/4 | €16,955 | €10,650 | -€6,305 | -37.2% |
| Amounts payable within one year | 42/48 | €55,730 | €142,132 | +€86,402 | +155% |
| Current portion of amounts payable after more than one year | 42 | €16,904 | €6,305 | -€10,599 | -62.7% |
| Trade debts | 44 | €20,206 | €17,351 | -€2,855 | -14.1% |
| Suppliers | 440/4 | €20,206 | €17,351 | -€2,855 | -14.1% |
| Taxes, remuneration and social security | 45 | €18,362 | €50,981 | +€32,619 | +178% |
| Taxes | 450/3 | €18,362 | €50,981 | +€32,619 | +178% |
| Other amounts payable | 47/48 | €258 | €67,495 | +€67,237 | +26,058% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,095 | +€95 | +4.8% |
| Non-recurring operating income | 76A | €7,104 | - | -€7,104 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,560 | €61,533 | -€27 | 0.0% |
| Other operating charges | 640/8 | €1,437 | €1,646 | +€209 | +14.5% |
| Gross operating margin | 9900 | €207,317 | €301,188 | +€93,871 | +45.3% |
| Operating profit (loss) | 9901 | €144,320 | €238,010 | +€93,690 | +64.9% |
| Financial income | 75/76B | €2 | €28 | +€25 | +1,065% |
| Recurring financial income | 75 | €2 | €28 | +€25 | +1,065% |
| Financial charges | 65/66B | €663 | €518 | -€145 | -21.9% |
| Recurring financial charges | 65 | €663 | €518 | -€145 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €143,660 | €237,520 | +€93,861 | +65.3% |
| Income taxes | 67/77 | €41,342 | €72,069 | +€30,728 | +74.3% |
| Profit (loss) for the period | 9904 | €102,318 | €165,451 | +€63,133 | +61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €102,318 | €165,451 | +€63,133 | +61.7% |
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.