DAPHEMAX: 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.
DAPHEMAX
Largest movements
- Tangible fixed assets -€36,617
down €36,617 (-7.2%), from €508,142 to €471,525
of which Land and buildings: -€25,420
- Debts after one year -€80,536
down €80,536 (-12.5%), from €643,288 to €562,752
- Reserves +€33,099
up €33,099 (+22.9%), from €144,822 to €177,921
- Tax, wage and social debts +€13,263
up €13,263 (+143.2%), from €9,260 to €22,523
of which Taxes: +€13,263
- Other operating charges -€16,341
down €16,341 (-85.0%), from €19,230 to €2,889
- Taxes +€15,646
up €15,646 (+164.0%), from €9,542 to €25,188
- Financial charges -€5,457
down €5,457 (-14.7%), from €37,236 to €31,779
- Financial income +€5,133
up €5,133 (+952.6%), from €539 to €5,671
- Gross operating margin -€2,226
down €2,226 (-1.8%), from €126,126 to €123,899
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 | €935,604 | €890,420 | -€45,185 | -4.8% |
| Fixed assets | 21/28 | €668,142 | €631,525 | -€36,617 | -5.5% |
| Tangible fixed assets | 22/27 | €508,142 | €471,525 | -€36,617 | -7.2% |
| Land and buildings | 22 | €458,814 | €433,394 | -€25,420 | -5.5% |
| Plant, machinery and equipment | 23 | €6,318 | €5,572 | -€747 | -11.8% |
| Furniture and vehicles | 24 | €17,300 | €10,506 | -€6,793 | -39.3% |
| Other tangible fixed assets | 26 | €25,711 | €22,054 | -€3,657 | -14.2% |
| Financial fixed assets | 28 | €160,000 | €160,000 | = | 0.0% |
| Current assets | 29/58 | €267,462 | €258,894 | -€8,568 | -3.2% |
| Amounts receivable within one year | 40/41 | €219,093 | €217,087 | -€2,006 | -0.9% |
| Trade receivables | 40 | €19,481 | €31,403 | +€11,922 | +61.2% |
| Other amounts receivable | 41 | €199,612 | €185,684 | -€13,928 | -7.0% |
| Cash at bank and in hand | 54/58 | €45,848 | €38,081 | -€7,767 | -16.9% |
| Deferred charges and accrued income | 490/1 | €2,521 | €3,726 | +€1,205 | +47.8% |
| Total equity and liabilities | 10/49 | €935,604 | €890,420 | -€45,185 | -4.8% |
| Equity | 10/15 | €227,511 | €260,610 | +€33,099 | +14.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €144,822 | €177,921 | +€33,099 | +22.9% |
| Distributable reserves | 133 | €144,822 | €177,921 | +€33,099 | +22.9% |
| Profit (loss) carried forward | 14 | €62,689 | €62,689 | = | 0.0% |
| Amounts payable | 17/49 | €708,093 | €629,810 | -€78,283 | -11.1% |
| Amounts payable after more than one year | 17 | €643,288 | €562,752 | -€80,536 | -12.5% |
| Financial debts | 170/4 | €643,288 | €562,752 | -€80,536 | -12.5% |
| Amounts payable within one year | 42/48 | €51,051 | €57,570 | +€6,519 | +12.8% |
| Current portion of amounts payable after more than one year | 42 | €31,368 | €32,536 | +€1,168 | +3.7% |
| Trade debts | 44 | €2,654 | €2,407 | -€246 | -9.3% |
| Suppliers | 440/4 | €2,654 | €2,407 | -€246 | -9.3% |
| Taxes, remuneration and social security | 45 | €9,260 | €22,523 | +€13,263 | +143.2% |
| Taxes | 450/3 | €9,260 | €22,523 | +€13,263 | +143.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €7,769 | €104 | -€7,665 | -98.7% |
| Accrued charges and deferred income | 492/3 | €13,754 | €9,487 | -€4,267 | -31.0% |
| Non-recurring operating income | 76A | €36,202 | €2,598 | -€33,604 | -92.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,557 | €36,617 | +€1,060 | +3.0% |
| Other operating charges | 640/8 | €19,230 | €2,889 | -€16,341 | -85.0% |
| Gross operating margin | 9900 | €126,126 | €123,899 | -€2,226 | -1.8% |
| Operating profit (loss) | 9901 | €71,339 | €84,394 | +€13,055 | +18.3% |
| Financial income | 75/76B | €539 | €5,671 | +€5,133 | +952.6% |
| Recurring financial income | 75 | €539 | €5,671 | +€5,133 | +952.6% |
| Financial charges | 65/66B | €37,236 | €31,779 | -€5,457 | -14.7% |
| Recurring financial charges | 65 | €37,236 | €31,779 | -€5,457 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €34,642 | €58,287 | +€23,645 | +68.3% |
| Income taxes | 67/77 | €9,542 | €25,188 | +€15,646 | +164.0% |
| Profit (loss) for the period | 9904 | €25,100 | €33,099 | +€7,999 | +31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,100 | €33,099 | +€7,999 | +31.9% |
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 2 October 2026 via checked.be.