DARWIN: 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.
DARWIN
Largest movements
- Tangible fixed assets +€2.0m
up €2.0m (+31.7%), from €6.3m to €8.2m
of which Land and buildings: +€1.9m
- Financial fixed assets -€292,546
down €292,546 (-15.0%), from €2.0m to €1.7m
- Cash -€241,350
down €241,350 (-70.5%), from €342,099 to €100,749
mainly Investment in fixed assets (net) (-€1.9m) and Trade debts (-€137,373)
- Other debts +€675,898
up €675,898 (+16.5%), from €4.1m to €4.8m
- Debts after one year +€559,592
up €559,592 (+20.1%), from €2.8m to €3.3m
- Profit (loss) carried forward +€349,393
up €349,393, from -€349,393 to €0
- Trade debts -€137,373
down €137,373 (-54.5%), from €252,071 to €114,697
- Gross operating margin +€128,464
up €128,464 (+24.1%), from €533,575 to €662,039
- Financial income +€110,389
up €110,389 (+1,754,999%), from €6 to €110,396
- Other operating charges +€9,311
up €9,311 (+25.7%), from €36,253 to €45,564
- Financial charges +€6,777
up €6,777 (+8.8%), from €76,750 to €83,527
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,290,585 | €10,825,320 | +€1.5m | +16.5% |
| Fixed assets | 21/28 | €8,212,208 | €9,902,231 | +€1.7m | +20.6% |
| Tangible fixed assets | 22/27 | €6,256,170 | €8,238,738 | +€2.0m | +31.7% |
| Land and buildings | 22 | €6,234,948 | €8,147,647 | +€1.9m | +30.7% |
| Plant, machinery and equipment | 23 | - | €17,362 | +€17,362 | |
| Furniture and vehicles | 24 | €21,221 | €73,729 | +€52,508 | +247% |
| Financial fixed assets | 28 | €1,956,038 | €1,663,492 | -€292,546 | -15.0% |
| Current assets | 29/58 | €1,078,377 | €923,090 | -€155,287 | -14.4% |
| Amounts receivable within one year | 40/41 | €712,122 | €787,947 | +€75,825 | +10.6% |
| Trade receivables | 40 | €305,020 | €237,725 | -€67,295 | -22.1% |
| Other amounts receivable | 41 | €407,102 | €550,222 | +€143,121 | +35.2% |
| Cash at bank and in hand | 54/58 | €342,099 | €100,749 | -€241,350 | -70.5% |
| Deferred charges and accrued income | 490/1 | €24,156 | €34,393 | +€10,237 | +42.4% |
| Total equity and liabilities | 10/49 | €9,290,585 | €10,825,320 | +€1.5m | +16.5% |
| Equity | 10/15 | €1,911,394 | €2,282,245 | +€370,852 | +19.4% |
| Contributions | 10/11 | €495,787 | €495,787 | = | 0.0% |
| Capital | 10 | €495,787 | €495,787 | = | 0.0% |
| Issued capital | 100 | €495,787 | €495,787 | = | 0.0% |
| Reserves | 13 | €1,765,000 | €1,786,458 | +€21,459 | +1.2% |
| Non-distributable reserves | 130/1 | €49,579 | €49,579 | = | 0.0% |
| Legal reserve | 130 | €49,579 | €49,579 | = | 0.0% |
| Distributable reserves | 133 | €1,715,421 | €1,736,880 | +€21,459 | +1.3% |
| Profit (loss) carried forward | 14 | -€349,393 | €0 | +€349,393 | |
| Amounts payable | 17/49 | €7,379,191 | €8,543,075 | +€1.2m | +15.8% |
| Amounts payable after more than one year | 17 | €2,784,878 | €3,344,469 | +€559,592 | +20.1% |
| Financial debts | 170/4 | €2,784,878 | €3,344,469 | +€559,592 | +20.1% |
| Amounts payable within one year | 42/48 | €4,591,860 | €5,196,304 | +€604,443 | +13.2% |
| Current portion of amounts payable after more than one year | 42 | €173,119 | €196,413 | +€23,294 | +13.5% |
| Financial debts | 43 | €28,920 | €20,281 | -€8,639 | -29.9% |
| Credit institutions | 430/8 | €28,920 | €20,281 | -€8,639 | -29.9% |
| Trade debts | 44 | €252,071 | €114,697 | -€137,373 | -54.5% |
| Suppliers | 440/4 | €252,071 | €114,697 | -€137,373 | -54.5% |
| Taxes, remuneration and social security | 45 | €41,283 | €92,547 | +€51,264 | +124% |
| Taxes | 450/3 | €41,283 | €92,547 | +€51,264 | +124% |
| Other amounts payable | 47/48 | €4,096,468 | €4,772,366 | +€675,898 | +16.5% |
| Accrued charges and deferred income | 492/3 | €2,453 | €2,302 | -€151 | -6.2% |
| Non-recurring operating income | 76A | €1,524 | €119,275 | +€117,751 | +7,729% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €201,338 | €205,921 | +€4,583 | +2.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €36,253 | €45,564 | +€9,311 | +25.7% |
| Non-recurring operating charges | 66A | €506,401 | €0 | -€506,401 | -100% |
| Gross operating margin | 9900 | €533,575 | €662,039 | +€128,464 | +24.1% |
| Operating profit (loss) | 9901 | -€210,416 | €410,555 | +€620,971 | |
| Financial income | 75/76B | €6 | €110,396 | +€110,389 | +1,754,999% |
| Recurring financial income | 75 | €6 | €110,396 | +€110,389 | +1,754,999% |
| Financial charges | 65/66B | €76,750 | €83,527 | +€6,777 | +8.8% |
| Recurring financial charges | 65 | €76,750 | €83,527 | +€6,777 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | -€287,160 | €437,423 | +€724,583 | |
| Income taxes | 67/77 | €62,233 | €66,572 | +€4,339 | +7.0% |
| Profit (loss) for the period | 9904 | -€349,393 | €370,852 | +€720,245 | |
| Profit (loss) for the period to be appropriated | 9905 | -€349,393 | €370,852 | +€720,245 |
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 28 October 2026 via checked.be.