DAPECO: what changed
Two fiscal 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.
DAPECO
Largest movements
- Cash +€69,894
up €69,894 (+60.4%), from €115,775 to €185,669
mainly Net result for the year (+€75,360) and Depreciation (+€12,986)
- Receivables within one year +€17,671
up €17,671 (+422.7%), from €4,181 to €21,852
of which Trade receivables: +€17,405
- Tangible fixed assets -€11,203
down €11,203 (-23.2%), from €48,208 to €37,005
of which Leasing and similar rights: -€10,176
- Profit (loss) carried forward +€75,360
new in 2025: €75,360
- Tax, wage and social debts +€12,918
up €12,918 (+70.8%), from €18,246 to €31,164
- Debts after one year -€11,677
down €11,677 (-51.2%), from €22,803 to €11,125
- Gross operating margin +€35,084
up €35,084 (+45.2%), from €77,669 to €112,754
- Taxes +€7,272
up €7,272 (+51.8%), from €14,040 to €21,312
- Depreciation +€1,238
up €1,238 (+10.5%), from €11,748 to €12,986
- Other operating charges -€1,197
down €1,197 (-43.1%), from €2,778 to €1,581
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.
Cash bridge derived
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 | €169,232 | €245,786 | +€76,555 | +45.2% |
| Fixed assets | 21/28 | €48,208 | €37,005 | -€11,203 | -23.2% |
| Tangible fixed assets | 22/27 | €48,208 | €37,005 | -€11,203 | -23.2% |
| Furniture and vehicles | 24 | €13,080 | €12,053 | -€1,027 | -7.8% |
| Leasing and similar rights | 25 | €35,128 | €24,952 | -€10,176 | -29.0% |
| Current assets | 29/58 | €121,024 | €208,781 | +€87,757 | +72.5% |
| Amounts receivable within one year | 40/41 | €4,181 | €21,852 | +€17,671 | +422.7% |
| Trade receivables | 40 | €0 | €17,405 | +€17,405 | |
| Other amounts receivable | 41 | €4,181 | €4,447 | +€266 | +6.4% |
| Cash at bank and in hand | 54/58 | €115,775 | €185,669 | +€69,894 | +60.4% |
| Deferred charges and accrued income | 490/1 | €1,068 | €1,260 | +€192 | +18.0% |
| Total equity and liabilities | 10/49 | €169,232 | €245,786 | +€76,555 | +45.2% |
| Equity | 10/15 | €115,015 | €190,375 | +€75,360 | +65.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €112,015 | €112,015 | = | 0.0% |
| Distributable reserves | 133 | €112,015 | €112,015 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €75,360 | +€75,360 | |
| Amounts payable | 17/49 | €54,217 | €55,411 | +€1,195 | +2.2% |
| Amounts payable after more than one year | 17 | €22,803 | €11,125 | -€11,677 | -51.2% |
| Financial debts | 170/4 | €22,803 | €11,125 | -€11,677 | -51.2% |
| Amounts payable within one year | 42/48 | €31,348 | €44,219 | +€12,871 | +41.1% |
| Current portion of amounts payable after more than one year | 42 | €11,216 | €11,677 | +€461 | +4.1% |
| Trade debts | 44 | €1,886 | €1,378 | -€509 | -27.0% |
| Suppliers | 440/4 | €1,886 | €1,378 | -€509 | -27.0% |
| Taxes, remuneration and social security | 45 | €18,246 | €31,164 | +€12,918 | +70.8% |
| Taxes | 450/3 | €18,246 | €31,164 | +€12,918 | +70.8% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,748 | €12,986 | +€1,238 | +10.5% |
| Other operating charges | 640/8 | €2,778 | €1,581 | -€1,197 | -43.1% |
| Gross operating margin | 9900 | €77,669 | €112,754 | +€35,084 | +45.2% |
| Operating profit (loss) | 9901 | €63,143 | €98,186 | +€35,043 | +55.5% |
| Financial income | 75/76B | €78 | €218 | +€140 | +179.5% |
| Recurring financial income | 75 | €78 | €218 | +€140 | +179.5% |
| Financial charges | 65/66B | €1,970 | €1,733 | -€238 | -12.1% |
| Recurring financial charges | 65 | €1,970 | €1,733 | -€238 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €61,251 | €96,672 | +€35,421 | +57.8% |
| Income taxes | 67/77 | €14,040 | €21,312 | +€7,272 | +51.8% |
| Profit (loss) for the period | 9904 | €47,211 | €75,360 | +€28,149 | +59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €47,211 | €75,360 | +€28,149 | +59.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.