DAPI INVEST: 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.
DAPI INVEST
Largest movements
- Cash +€186,131
up €186,131 (+4475.6%), from €4,159 to €190,290
mainly Net result for the year (+€485,881) and Depreciation (+€45,726)
- Reserves +€611,273
up €611,273 (+874.7%), from €69,886 to €681,159
of which Distributable reserves: +€400,961
- Debts after one year -€166,640
down €166,640 (-11.1%), from €1.5m to €1.3m
- Other debts -€146,545
down €146,545 (-71.7%), from €204,404 to €57,859
- Profit (loss) carried forward -€125,392
down €125,392 (-100.0%), from €125,392 to €0
- Gross operating margin +€584,503
up €584,503 (+327.0%), from €178,752 to €763,255
- Taxes +€121,444
up €121,444 (+681.8%), from €17,813 to €139,257
- Financial charges +€21,145
up €21,145 (+56.6%), from €37,331 to €58,476
- Other operating charges -€16,741
down €16,741 (-49.2%), from €33,994 to €17,253
- Depreciation +€13,693
up €13,693 (+42.7%), from €32,033 to €45,726
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 | €2,082,971 | €2,259,938 | +€176,967 | +8.5% |
| Fixed assets | 21/28 | €2,025,190 | €2,013,112 | -€12,078 | -0.6% |
| Tangible fixed assets | 22/27 | €2,025,190 | €2,013,112 | -€12,078 | -0.6% |
| Land and buildings | 22 | €1,632,135 | €2,007,200 | +€375,064 | +23.0% |
| Furniture and vehicles | 24 | €1,809 | €5,912 | +€4,104 | +226.9% |
| Assets under construction and advance payments | 27 | €391,246 | €0 | -€391,246 | -100.0% |
| Current assets | 29/58 | €57,781 | €246,826 | +€189,045 | +327.2% |
| Amounts receivable within one year | 40/41 | €49,865 | €40,145 | -€9,719 | -19.5% |
| Trade receivables | 40 | €34,376 | €38,902 | +€4,526 | +13.2% |
| Other amounts receivable | 41 | €15,489 | €1,243 | -€14,245 | -92.0% |
| Cash at bank and in hand | 54/58 | €4,159 | €190,290 | +€186,131 | +4475.6% |
| Deferred charges and accrued income | 490/1 | €3,758 | €16,391 | +€12,633 | +336.2% |
| Total equity and liabilities | 10/49 | €2,082,971 | €2,259,938 | +€176,967 | +8.5% |
| Equity | 10/15 | €200,278 | €686,159 | +€485,881 | +242.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €69,886 | €681,159 | +€611,273 | +874.7% |
| Tax-exempt reserves | 132 | €69,886 | €280,197 | +€210,311 | +300.9% |
| Distributable reserves | 133 | - | €400,961 | +€400,961 | |
| Profit (loss) carried forward | 14 | €125,392 | €0 | -€125,392 | -100.0% |
| Provisions and deferred taxes | 16 | - | €18,321 | +€18,321 | |
| Deferred taxes | 168 | - | €18,321 | +€18,321 | |
| Amounts payable | 17/49 | €1,882,693 | €1,555,459 | -€327,234 | -17.4% |
| Amounts payable after more than one year | 17 | €1,503,479 | €1,336,839 | -€166,640 | -11.1% |
| Financial debts | 170/4 | €1,503,479 | €1,336,839 | -€166,640 | -11.1% |
| Amounts payable within one year | 42/48 | €364,844 | €199,992 | -€164,852 | -45.2% |
| Current portion of amounts payable after more than one year | 42 | €85,328 | €81,029 | -€4,299 | -5.0% |
| Trade debts | 44 | €47,811 | €44,485 | -€3,326 | -7.0% |
| Suppliers | 440/4 | €47,811 | €44,485 | -€3,326 | -7.0% |
| Taxes, remuneration and social security | 45 | €27,301 | €16,619 | -€10,682 | -39.1% |
| Taxes | 450/3 | €27,301 | €16,619 | -€10,682 | -39.1% |
| Other amounts payable | 47/48 | €204,404 | €57,859 | -€146,545 | -71.7% |
| Accrued charges and deferred income | 492/3 | €14,371 | €18,628 | +€4,257 | +29.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,033 | €45,726 | +€13,693 | +42.7% |
| Other operating charges | 640/8 | €33,994 | €17,253 | -€16,741 | -49.2% |
| Gross operating margin | 9900 | €178,752 | €763,255 | +€584,503 | +327.0% |
| Operating profit (loss) | 9901 | €112,725 | €700,275 | +€587,550 | +521.2% |
| Financial income | 75/76B | €67 | €1,660 | +€1,592 | +2366.3% |
| Recurring financial income | 75 | €67 | €1,660 | +€1,592 | +2366.3% |
| Financial charges | 65/66B | €37,331 | €58,476 | +€21,145 | +56.6% |
| Recurring financial charges | 65 | €37,331 | €58,476 | +€21,145 | +56.6% |
| Profit (loss) for the period before taxes | 9903 | €75,461 | €643,459 | +€567,997 | +752.7% |
| Transfer to deferred taxes | 680 | - | €18,321 | +€18,321 | |
| Income taxes | 67/77 | €17,813 | €139,257 | +€121,444 | +681.8% |
| Profit (loss) for the period | 9904 | €57,648 | €485,881 | +€428,232 | +742.8% |
| Transfer from tax-exempt reserves | 789 | - | €69,886 | +€69,886 | |
| Transfer to tax-exempt reserves | 689 | €0 | €280,197 | +€280,197 | |
| Profit (loss) for the period to be appropriated | 9905 | €57,648 | €275,570 | +€217,921 | +378.0% |
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.