DAPHNE LIENART: 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.
DAPHNE LIENART
Largest movements
- Cash +€44,118
up €44,118 (+54.4%), from €81,110 to €125,229
mainly Other debts (+€174,626) and Net result for the year (+€73,914)
- Intangible fixed assets -€40,000
down €40,000 (-17.6%), from €227,616 to €187,616
- Current investments +€18,000
up €18,000 (+28.6%), from €62,988 to €80,988
- Other debts +€174,626
up €174,626 (+192.5%), from €90,707 to €265,333
- Reserves -€145,070
down €145,070 (-46.2%), from €313,863 to €168,793
- Debts after one year -€13,065
down €13,065 (-19.6%), from €66,777 to €53,713
- Gross operating margin -€5,678
down €5,678 (-3.7%), from €152,328 to €146,650
- Taxes -€1,657
down €1,657 (-5.4%), from €30,910 to €29,253
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 | €494,097 | €512,260 | +€18,163 | +3.7% |
| Fixed assets | 21/28 | €231,109 | €189,392 | -€41,717 | -18.1% |
| Intangible fixed assets | 21 | €227,616 | €187,616 | -€40,000 | -17.6% |
| Tangible fixed assets | 22/27 | €3,492 | €1,775 | -€1,717 | -49.2% |
| Plant, machinery and equipment | 23 | €660 | €395 | -€266 | -40.2% |
| Furniture and vehicles | 24 | €2,832 | €1,380 | -€1,452 | -51.3% |
| Current assets | 29/58 | €262,988 | €322,868 | +€59,880 | +22.8% |
| Amounts receivable within one year | 40/41 | €6,090 | €6,836 | +€747 | +12.3% |
| Other amounts receivable | 41 | €6,090 | €6,836 | +€747 | +12.3% |
| Current investments | 50/53 | €62,988 | €80,988 | +€18,000 | +28.6% |
| Cash at bank and in hand | 54/58 | €81,110 | €125,229 | +€44,118 | +54.4% |
| Deferred charges and accrued income | 490/1 | €112,800 | €109,815 | -€2,984 | -2.6% |
| Total equity and liabilities | 10/49 | €494,097 | €512,260 | +€18,163 | +3.7% |
| Equity | 10/15 | €318,863 | €173,807 | -€145,056 | -45.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €313,863 | €168,793 | -€145,070 | -46.2% |
| Distributable reserves | 133 | €313,863 | €168,793 | -€145,070 | -46.2% |
| Profit (loss) carried forward | 14 | - | €14 | +€14 | |
| Amounts payable | 17/49 | €175,234 | €338,453 | +€163,219 | +93.1% |
| Amounts payable after more than one year | 17 | €66,777 | €53,713 | -€13,065 | -19.6% |
| Financial debts | 170/4 | €66,777 | €53,713 | -€13,065 | -19.6% |
| Amounts payable within one year | 42/48 | €108,456 | €284,740 | +€176,284 | +162.5% |
| Current portion of amounts payable after more than one year | 42 | €12,923 | €13,065 | +€142 | +1.1% |
| Trade debts | 44 | €1,452 | €2,967 | +€1,515 | +104.4% |
| Suppliers | 440/4 | €1,452 | €2,967 | +€1,515 | +104.4% |
| Taxes, remuneration and social security | 45 | €3,375 | €3,375 | = | 0.0% |
| Taxes | 450/3 | €3,375 | €3,375 | = | 0.0% |
| Other amounts payable | 47/48 | €90,707 | €265,333 | +€174,626 | +192.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,825 | €41,717 | -€108 | -0.3% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €152,328 | €146,650 | -€5,678 | -3.7% |
| Operating profit (loss) | 9901 | €110,502 | €104,533 | -€5,969 | -5.4% |
| Financial charges | 65/66B | €1,168 | €1,365 | +€197 | +16.9% |
| Recurring financial charges | 65 | €1,168 | €1,365 | +€197 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | €109,335 | €103,168 | -€6,167 | -5.6% |
| Income taxes | 67/77 | €30,910 | €29,253 | -€1,657 | -5.4% |
| Profit (loss) for the period | 9904 | €78,424 | €73,914 | -€4,510 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €78,424 | €73,914 | -€4,510 | -5.8% |
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 10 October 2026 via checked.be.