DAP Steven Hendrickx: 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 Steven Hendrickx
Largest movements
- Tangible fixed assets +€59,938
up €59,938 (+277%), from €21,641 to €81,580
of which Furniture and vehicles: +€55,435
- Receivables within one year +€13,267
up €13,267 (+88.8%), from €14,932 to €28,199
of which Trade receivables: +€7,851
- Cash -€8,349
down €8,349 (-14.5%), from €57,427 to €49,077
mainly Investment in fixed assets (net) (-€72,940) and Contributions, distributions and other (-€14,413)
- Debts after one year +€39,123
new in 2025: €39,123
- Current portion of long-term debt +€10,994
up €10,994 (+586%), from €1,875 to €12,869
- Trade debts +€7,295
up €7,295 (+63.9%), from €11,413 to €18,708
- Reserves +€5,678
up €5,678 (+7.8%), from €73,205 to €78,883
- Tax, wage and social debts +€1,932
up €1,932 (+103%), from €1,880 to €3,811
- Gross operating margin +€11,556
up €11,556 (+31.3%), from €36,925 to €48,481
- Depreciation +€3,145
up €3,145 (+31.9%), from €9,857 to €13,002
- Taxes +€2,390
up €2,390 (+22.5%), from €10,600 to €12,990
- Financial income -€1,886
down €1,886 (-89.2%), from €2,114 to €229
- Financial charges +€643
up €643 (+70.7%), from €909 to €1,552
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 | €101,255 | €165,794 | +€64,538 | +63.7% |
| Fixed assets | 21/28 | €21,641 | €81,580 | +€59,938 | +277% |
| Tangible fixed assets | 22/27 | €21,641 | €81,580 | +€59,938 | +277% |
| Plant, machinery and equipment | 23 | €21,641 | €26,145 | +€4,504 | +20.8% |
| Furniture and vehicles | 24 | - | €55,435 | +€55,435 | |
| Current assets | 29/58 | €79,614 | €84,214 | +€4,600 | +5.8% |
| Stocks and contracts in progress | 3 | €6,938 | €6,938 | = | 0.0% |
| Stocks | 30/36 | €6,938 | €6,938 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,932 | €28,199 | +€13,267 | +88.8% |
| Trade receivables | 40 | €14,691 | €22,542 | +€7,851 | +53.4% |
| Other amounts receivable | 41 | €240 | €5,657 | +€5,416 | +2,252% |
| Cash at bank and in hand | 54/58 | €57,427 | €49,077 | -€8,349 | -14.5% |
| Deferred charges and accrued income | 490/1 | €317 | - | -€317 | |
| Total equity and liabilities | 10/49 | €101,255 | €165,794 | +€64,538 | +63.7% |
| Equity | 10/15 | €85,605 | €91,283 | +€5,678 | +6.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €73,205 | €78,883 | +€5,678 | +7.8% |
| Distributable reserves | 133 | €73,205 | €78,883 | +€5,678 | +7.8% |
| Amounts payable | 17/49 | €15,651 | €74,511 | +€58,860 | +376% |
| Amounts payable after more than one year | 17 | - | €39,123 | +€39,123 | |
| Financial debts | 170/4 | - | €39,123 | +€39,123 | |
| Amounts payable within one year | 42/48 | €15,651 | €35,388 | +€19,737 | +126% |
| Current portion of amounts payable after more than one year | 42 | €1,875 | €12,869 | +€10,994 | +586% |
| Trade debts | 44 | €11,413 | €18,708 | +€7,295 | +63.9% |
| Suppliers | 440/4 | €11,413 | €18,708 | +€7,295 | +63.9% |
| Advances received on contracts in progress | 46 | €384 | - | -€384 | |
| Taxes, remuneration and social security | 45 | €1,880 | €3,811 | +€1,932 | +103% |
| Taxes | 450/3 | €1,880 | €3,811 | +€1,932 | +103% |
| Other amounts payable | 47/48 | €100 | - | -€100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,857 | €13,002 | +€3,145 | +31.9% |
| Other operating charges | 640/8 | €1,000 | €1,075 | +€75 | +7.5% |
| Gross operating margin | 9900 | €36,925 | €48,481 | +€11,556 | +31.3% |
| Operating profit (loss) | 9901 | €26,068 | €34,404 | +€8,337 | +32.0% |
| Financial income | 75/76B | €2,114 | €229 | -€1,886 | -89.2% |
| Recurring financial income | 75 | €2,114 | €229 | -€1,886 | -89.2% |
| Financial charges | 65/66B | €909 | €1,552 | +€643 | +70.7% |
| Recurring financial charges | 65 | €909 | €1,552 | +€643 | +70.7% |
| Profit (loss) for the period before taxes | 9903 | €27,273 | €33,081 | +€5,808 | +21.3% |
| Income taxes | 67/77 | €10,600 | €12,990 | +€2,390 | +22.5% |
| Profit (loss) for the period | 9904 | €16,673 | €20,091 | +€3,418 | +20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,673 | €20,091 | +€3,418 | +20.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.