Daphne: 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
Daphne
NACE 46.491, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€275,417
2024 · €512,290-€236,873
Equity
€6.5m
2024 · €6.2m+€275,417
Cash
€4.1m
2024 · €6.0m-€1.8m
Balance sheet total
€16.5m
2024 · €16.4m+€104,499
Largest movements
Assets
- Cash -€1.8m
down €1.8m (-30.9%), from €6.0m to €4.1m
mainly Receivables within one year (-€1.3m) and Current investments (-€711,719)
- Receivables within one year +€1.3m
up €1.3m (+19.6%), from €6.6m to €7.9m
of which Trade receivables: +€1.3m
- Current investments +€711,719
up €711,719 (+374%), from €190,531 to €902,250
Equity and liabilities
- Reserves +€275,417
up €275,417 (+4.6%), from €6.0m to €6.3m
of which Distributable reserves: +€275,417
- Trade debts -€239,479
down €239,479 (-2.4%), from €9.8m to €9.6m
Income statement
- Turnover -€1.7m
down €1.7m (-7.0%), from €23.8m to €22.1m
- Goods and materials -€1.1m
down €1.1m (-6.5%), from €17.5m to €16.3m
of which Purchases: -€1.7m
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
€512,290
Turnover
-€1.7m
Other operating income
-€10
Goods and materials
+€1.1m
Services and other goods
+€193,098
Staff costs
-€12,677
Depreciation
-€14,425
Write-downs
+€16,281
Other operating charges
+€16,448
Other operating items
+€15,086
Financial income
+€36,676
Financial charges
-€32,186
Taxes
+€62,794
Result 2025
€275,417
raises the resultlowers the resultnot broken down further in the accounts
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
-€877,584
Investment
-€967,139
Financing
€0
Cash 2024
€6.0m
From operations (derived)
-€877,584
Net result for the year
+€275,417
Depreciation
+€169,651
Stocks and contracts
+€130,816
Receivables within one year
-€1.3m
Deferred charges and accrued income
+€21,214
Trade debts
-€239,479
Tax, wage and social debts
+€47,172
Advances received
+€7,623
Other debts
+€15,442
Accrued charges and deferred income
-€1,675
Investment (derived)
-€967,139
Investment in fixed assets (net)
-€255,420
Current investments
-€711,719
Cash 2025
€4.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,420,884 | €16,525,384 | +€104,499 | +0.6% |
| Fixed assets | 21/28 | €1,241,658 | €1,327,427 | +€85,769 | +6.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €883,158 | €968,927 | +€85,769 | +9.7% |
| Land and buildings | 22 | €638,752 | €0 | -€638,752 | -100% |
| Plant, machinery and equipment | 23 | €51,568 | €36,630 | -€14,938 | -29.0% |
| Furniture and vehicles | 24 | €187,957 | €309,274 | +€121,317 | +64.5% |
| Leasing and similar rights | 25 | - | €623,022 | +€623,022 | |
| Other tangible fixed assets | 26 | €4,881 | €0 | -€4,881 | -100% |
| Financial fixed assets | 28 | €358,500 | €358,500 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €22,500 | €22,500 | = | 0.0% |
| Participating interests | 282 | €22,500 | €22,500 | = | 0.0% |
| Other financial fixed assets | 284/8 | €336,000 | €336,000 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €336,000 | €336,000 | = | 0.0% |
| Current assets | 29/58 | €15,179,226 | €15,197,957 | +€18,731 | +0.1% |
| Stocks and contracts in progress | 3 | €2,340,421 | €2,209,605 | -€130,816 | -5.6% |
| Stocks | 30/36 | €2,340,421 | €2,209,605 | -€130,816 | -5.6% |
| Raw materials and consumables | 30/31 | €2,500 | €2,500 | = | 0.0% |
| Goods purchased for resale | 34 | €2,301,320 | €2,152,700 | -€148,620 | -6.5% |
| Advance payments | 36 | €36,601 | €54,405 | +€17,805 | +48.6% |
| Amounts receivable within one year | 40/41 | €6,637,348 | €7,941,112 | +€1.3m | +19.6% |
| Trade receivables | 40 | €6,567,632 | €7,901,963 | +€1.3m | +20.3% |
| Other amounts receivable | 41 | €69,716 | €39,149 | -€30,567 | -43.8% |
| Current investments | 50/53 | €190,531 | €902,250 | +€711,719 | +374% |
| Other investments | 51/53 | €190,531 | €902,250 | +€711,719 | +374% |
| Cash at bank and in hand | 54/58 | €5,969,864 | €4,125,141 | -€1.8m | -30.9% |
| Deferred charges and accrued income | 490/1 | €41,063 | €19,849 | -€21,214 | -51.7% |
| Total equity and liabilities | 10/49 | €16,420,884 | €16,525,384 | +€104,499 | +0.6% |
| Equity | 10/15 | €6,194,179 | €6,469,596 | +€275,417 | +4.4% |
| Contributions | 10/11 | €186,000 | €186,000 | = | 0.0% |
| Capital | 10 | €186,000 | €186,000 | = | 0.0% |
| Issued capital | 100 | €186,000 | €186,000 | = | 0.0% |
| Reserves | 13 | €6,008,179 | €6,283,596 | +€275,417 | +4.6% |
| Non-distributable reserves | 130/1 | €18,600 | €18,600 | = | 0.0% |
| Legal reserve | 130 | €18,600 | €18,600 | = | 0.0% |
| Distributable reserves | 133 | €5,989,579 | €6,264,996 | +€275,417 | +4.6% |
| Amounts payable | 17/49 | €10,226,706 | €10,055,788 | -€170,918 | -1.7% |
| Amounts payable within one year | 42/48 | €10,225,018 | €10,055,775 | -€169,243 | -1.7% |
| Trade debts | 44 | €9,794,976 | €9,555,496 | -€239,479 | -2.4% |
| Suppliers | 440/4 | €9,794,976 | €9,555,496 | -€239,479 | -2.4% |
| Advances received on contracts in progress | 46 | €56,872 | €64,496 | +€7,623 | +13.4% |
| Taxes, remuneration and social security | 45 | €317,167 | €364,339 | +€47,172 | +14.9% |
| Taxes | 450/3 | €45,335 | €120,901 | +€75,567 | +167% |
| Remuneration and social security | 454/9 | €271,832 | €243,437 | -€28,395 | -10.4% |
| Other amounts payable | 47/48 | €56,003 | €71,445 | +€15,442 | +27.6% |
| Accrued charges and deferred income | 492/3 | €1,688 | €13 | -€1,675 | -99.2% |
| Operating income | 70/76A | €23,918,718 | €22,271,269 | -€1.6m | -6.9% |
| Turnover | 70 | €23,796,674 | €22,134,148 | -€1.7m | -7.0% |
| Other operating income | 74 | €97,045 | €97,034 | -€10 | 0.0% |
| Non-recurring operating income | 76A | €25,000 | €40,086 | +€15,086 | +60.3% |
| Operating charges | 60/66A | €23,265,369 | €21,922,076 | -€1.3m | -5.8% |
| Goods for resale, raw materials and consumables | 60 | €17,475,907 | €16,331,339 | -€1.1m | -6.5% |
| Purchases | 600/8 | €17,925,224 | €16,182,719 | -€1.7m | -9.7% |
| Change in stocks: decrease (increase) | 609 | -€449,317 | €148,620 | +€597,937 | |
| Services and other goods | 61 | €3,460,767 | €3,267,669 | -€193,098 | -5.6% |
| Remuneration, social security and pensions | 62 | €2,109,008 | €2,121,685 | +€12,677 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €155,226 | €169,651 | +€14,425 | +9.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,956 | €1,675 | -€16,281 | -90.7% |
| Other operating charges | 640/8 | €46,504 | €30,056 | -€16,448 | -35.4% |
| Operating profit (loss) | 9901 | €653,349 | €349,194 | -€304,156 | -46.6% |
| Financial income | 75/76B | €106,024 | €142,700 | +€36,676 | +34.6% |
| Recurring financial income | 75 | €106,024 | €142,700 | +€36,676 | +34.6% |
| Income from current assets | 751 | €11,400 | €25,304 | +€13,904 | +122% |
| Other financial income | 752/9 | €94,624 | €117,396 | +€22,772 | +24.1% |
| Financial charges | 65/66B | €62,493 | €94,680 | +€32,186 | +51.5% |
| Recurring financial charges | 65 | €62,493 | €94,680 | +€32,186 | +51.5% |
| Debt charges | 650 | €934 | €483 | -€452 | -48.3% |
| Other financial charges | 652/9 | €61,559 | €94,197 | +€32,638 | +53.0% |
| Profit (loss) for the period before taxes | 9903 | €696,880 | €397,214 | -€299,666 | -43.0% |
| Income taxes | 67/77 | €184,590 | €121,797 | -€62,794 | -34.0% |
| Taxes | 670/3 | €184,590 | €121,797 | -€62,794 | -34.0% |
| Profit (loss) for the period | 9904 | €512,290 | €275,417 | -€236,873 | -46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €512,290 | €275,417 | -€236,873 | -46.2% |
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 19 October 2026 via checked.be.