DAPA: 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.
What changed
DAPA
NACE 46.492, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€50,154
2024 · €40,134+€10,020
Equity
€284,103
2024 · €281,950+€2,154
Cash
€20,039
2024 · €14,319+€5,720
Balance sheet total
€1.7m
2024 · €1.6m+€118,951
Largest movements
Assets
- Stocks and contracts +€324,020
up €324,020 (+76.0%), from €426,318 to €750,338
- Deferred charges and accrued income -€116,943
down €116,943 (-74.7%), from €156,530 to €39,587
- Receivables within one year -€78,530
down €78,530 (-23.7%), from €331,718 to €253,187
of which Trade receivables: -€127,110
Equity and liabilities
- Trade debts +€372,167
up €372,167 (+148%), from €250,959 to €623,127
- Debts after one year -€357,990
down €357,990 (-37.2%), from €961,552 to €603,561
- Other debts +€48,000
new in 2025: €48,000
- Current portion of long-term debt +€47,826
up €47,826 (+774%), from €6,179 to €54,004
Income statement
- Gross operating margin +€53,691
up €53,691 (+9.0%), from €594,845 to €648,536
- Staff costs +€49,443
up €49,443 (+13.9%), from €356,935 to €406,378
- Depreciation +€7,428
up €7,428 (+6.5%), from €113,776 to €121,204
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.
Result 2024
€40,134
Gross operating margin
+€53,691
Staff costs
-€49,443
Depreciation
-€7,428
Other operating charges
+€4,395
Financial income
+€1,160
Financial charges
+€1,312
Taxes
+€6,332
Result 2025
€50,154
raises the resultlowers the result
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.
From operations
+€469,773
Investment
-€105,889
Financing
-€358,165
Cash 2024
€14,319
From operations (derived)
+€469,773
Net result for the year
+€50,154
Depreciation
+€121,204
Stocks and contracts
-€324,020
Receivables within one year
+€78,530
Deferred charges and accrued income
+€116,943
Trade debts
+€372,167
Tax, wage and social debts
-€52
Other debts
+€48,000
Accrued charges and deferred income
+€6,847
Investment (derived)
-€105,889
Investment in fixed assets (net)
-€105,889
Financing
-€358,165
Debts after one year
-€357,990
Current portion of long-term debt
+€47,826
Contributions, distributions and other
-€48,000
Cash 2025
€20,039
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,584,693 | €1,703,644 | +€118,951 | +7.5% |
| Fixed assets | 21/28 | €655,808 | €640,493 | -€15,315 | -2.3% |
| Intangible fixed assets | 21 | €3,273 | €2,189 | -€1,083 | -33.1% |
| Tangible fixed assets | 22/27 | €652,535 | €638,303 | -€14,232 | -2.2% |
| Plant, machinery and equipment | 23 | €420,227 | €332,681 | -€87,546 | -20.8% |
| Furniture and vehicles | 24 | €76,655 | €70,697 | -€5,958 | -7.8% |
| Other tangible fixed assets | 26 | €66,748 | €55,222 | -€11,527 | -17.3% |
| Assets under construction and advance payments | 27 | €88,905 | €179,704 | +€90,799 | +102% |
| Current assets | 29/58 | €928,885 | €1,063,151 | +€134,266 | +14.5% |
| Stocks and contracts in progress | 3 | €426,318 | €750,338 | +€324,020 | +76.0% |
| Stocks | 30/36 | €426,318 | €750,338 | +€324,020 | +76.0% |
| Amounts receivable within one year | 40/41 | €331,718 | €253,187 | -€78,530 | -23.7% |
| Trade receivables | 40 | €284,903 | €157,793 | -€127,110 | -44.6% |
| Other amounts receivable | 41 | €46,814 | €95,394 | +€48,580 | +104% |
| Cash at bank and in hand | 54/58 | €14,319 | €20,039 | +€5,720 | +39.9% |
| Deferred charges and accrued income | 490/1 | €156,530 | €39,587 | -€116,943 | -74.7% |
| Total equity and liabilities | 10/49 | €1,584,693 | €1,703,644 | +€118,951 | +7.5% |
| Equity | 10/15 | €281,950 | €284,103 | +€2,154 | +0.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €219,950 | €222,103 | +€2,154 | +1.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €213,750 | €215,903 | +€2,154 | +1.0% |
| Amounts payable | 17/49 | €1,302,743 | €1,419,541 | +€116,797 | +9.0% |
| Amounts payable after more than one year | 17 | €961,552 | €603,561 | -€357,990 | -37.2% |
| Financial debts | 170/4 | €961,552 | €603,561 | -€357,990 | -37.2% |
| Amounts payable within one year | 42/48 | €341,191 | €809,132 | +€467,941 | +137% |
| Current portion of amounts payable after more than one year | 42 | €6,179 | €54,004 | +€47,826 | +774% |
| Trade debts | 44 | €250,959 | €623,127 | +€372,167 | +148% |
| Suppliers | 440/4 | €250,959 | €623,127 | +€372,167 | +148% |
| Taxes, remuneration and social security | 45 | €84,053 | €84,001 | -€52 | -0.1% |
| Taxes | 450/3 | €40,184 | €34,342 | -€5,842 | -14.5% |
| Remuneration and social security | 454/9 | €43,870 | €49,659 | +€5,789 | +13.2% |
| Other amounts payable | 47/48 | - | €48,000 | +€48,000 | |
| Accrued charges and deferred income | 492/3 | - | €6,847 | +€6,847 | |
| Remuneration, social security and pensions | 62 | €356,935 | €406,378 | +€49,443 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,776 | €121,204 | +€7,428 | +6.5% |
| Other operating charges | 640/8 | €15,619 | €11,223 | -€4,395 | -28.1% |
| Gross operating margin | 9900 | €594,845 | €648,536 | +€53,691 | +9.0% |
| Operating profit (loss) | 9901 | €108,516 | €109,731 | +€1,215 | +1.1% |
| Financial income | 75/76B | €2,177 | €3,337 | +€1,160 | +53.3% |
| Recurring financial income | 75 | €2,177 | €3,337 | +€1,160 | +53.3% |
| Financial charges | 65/66B | €57,624 | €56,312 | -€1,312 | -2.3% |
| Recurring financial charges | 65 | €57,624 | €56,312 | -€1,312 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €53,069 | €56,756 | +€3,687 | +6.9% |
| Income taxes | 67/77 | €12,935 | €6,602 | -€6,332 | -49.0% |
| Profit (loss) for the period | 9904 | €40,134 | €50,154 | +€10,020 | +25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,134 | €50,154 | +€10,020 | +25.0% |
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 23 October 2026 via checked.be.