DAUWCO: 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.
DAUWCO
Largest movements
- Stocks and contracts -€243,993
down €243,993 (-58.6%), from €416,081 to €172,088
- Cash -€115,120
down €115,120 (-42.2%), from €272,612 to €157,492
mainly Other debts (-€250,000) and Debts after one year (-€165,411)
- Receivables within one year +€47,516
up €47,516 (+24.7%), from €192,581 to €240,098
of which Trade receivables: +€52,900
- Other debts -€250,000
down €250,000 (-100%), from €250,000 to €0
- Debts after one year -€165,411
down €165,411 (-67.2%), from €246,016 to €80,605
of which Financial debts: -€246,016
- Trade debts +€72,091
up €72,091 (+83.9%), from €85,943 to €158,034
- Advances received +€40,000
new in 2025: €40,000
- Reserves -€20,101
down €20,101 (-6.5%), from €307,859 to €287,759
of which Distributable reserves: -€20,101
- Staff costs -€23,093
down €23,093 (-27.5%), from €84,067 to €60,974
- Financial charges +€7,487
up €7,487 (+893%), from €838 to €8,325
- Gross operating margin -€4,493
down €4,493 (-6.8%), from €65,859 to €61,366
- Financial income -€2,862
down €2,862 (-51.9%), from €5,512 to €2,650
- Other operating charges +€1,215
up €1,215 (+53.4%), from €2,277 to €3,492
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €922,473 | €603,633 | -€318,840 | -34.6% |
| Fixed assets | 21/28 | €38,426 | €31,875 | -€6,551 | -17.0% |
| Intangible fixed assets | 21 | €7,243 | €5,372 | -€1,871 | -25.8% |
| Tangible fixed assets | 22/27 | €31,183 | €26,503 | -€4,680 | -15.0% |
| Plant, machinery and equipment | 23 | €7,072 | €7,091 | +€19 | +0.3% |
| Furniture and vehicles | 24 | €1,090 | €1,419 | +€329 | +30.2% |
| Other tangible fixed assets | 26 | €23,022 | €17,993 | -€5,028 | -21.8% |
| Current assets | 29/58 | €884,047 | €571,758 | -€312,289 | -35.3% |
| Stocks and contracts in progress | 3 | €416,081 | €172,088 | -€243,993 | -58.6% |
| Stocks | 30/36 | €416,081 | €172,088 | -€243,993 | -58.6% |
| Amounts receivable within one year | 40/41 | €192,581 | €240,098 | +€47,516 | +24.7% |
| Trade receivables | 40 | €176,470 | €229,370 | +€52,900 | +30.0% |
| Other amounts receivable | 41 | €16,111 | €10,728 | -€5,384 | -33.4% |
| Cash at bank and in hand | 54/58 | €272,612 | €157,492 | -€115,120 | -42.2% |
| Deferred charges and accrued income | 490/1 | €2,772 | €2,080 | -€693 | -25.0% |
| Total equity and liabilities | 10/49 | €922,473 | €603,633 | -€318,840 | -34.6% |
| Equity | 10/15 | €335,859 | €315,759 | -€20,101 | -6.0% |
| Contributions | 10/11 | €28,000 | €28,000 | = | 0.0% |
| Reserves | 13 | €307,859 | €287,759 | -€20,101 | -6.5% |
| Non-distributable reserves | 130/1 | €2,800 | €2,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,800 | €2,800 | = | 0.0% |
| Distributable reserves | 133 | €305,059 | €284,959 | -€20,101 | -6.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €586,614 | €287,874 | -€298,739 | -50.9% |
| Amounts payable after more than one year | 17 | €246,016 | €80,605 | -€165,411 | -67.2% |
| Financial debts | 170/4 | €246,016 | €0 | -€246,016 | -100% |
| Other amounts payable | 178/9 | - | €80,605 | +€80,605 | |
| Amounts payable within one year | 42/48 | €340,598 | €199,549 | -€141,049 | -41.4% |
| Current portion of amounts payable after more than one year | 42 | €1,049 | €0 | -€1,049 | -100% |
| Trade debts | 44 | €85,943 | €158,034 | +€72,091 | +83.9% |
| Suppliers | 440/4 | €85,943 | €158,034 | +€72,091 | +83.9% |
| Advances received on contracts in progress | 46 | - | €40,000 | +€40,000 | |
| Taxes, remuneration and social security | 45 | €3,606 | €1,515 | -€2,091 | -58.0% |
| Taxes | 450/3 | €1,849 | €298 | -€1,551 | -83.9% |
| Remuneration and social security | 454/9 | €1,757 | €1,217 | -€540 | -30.7% |
| Other amounts payable | 47/48 | €250,000 | €0 | -€250,000 | -100% |
| Accrued charges and deferred income | 492/3 | - | €7,721 | +€7,721 | |
| Remuneration, social security and pensions | 62 | €84,067 | €60,974 | -€23,093 | -27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,620 | €11,322 | +€703 | +6.6% |
| Other operating charges | 640/8 | €2,277 | €3,492 | +€1,215 | +53.4% |
| Gross operating margin | 9900 | €65,859 | €61,366 | -€4,493 | -6.8% |
| Operating profit (loss) | 9901 | -€31,105 | -€14,423 | +€16,682 | +53.6% |
| Financial income | 75/76B | €5,512 | €2,650 | -€2,862 | -51.9% |
| Recurring financial income | 75 | €5,512 | €2,650 | -€2,862 | -51.9% |
| Financial charges | 65/66B | €838 | €8,325 | +€7,487 | +893% |
| Recurring financial charges | 65 | €838 | €8,325 | +€7,487 | +893% |
| Profit (loss) for the period before taxes | 9903 | -€26,431 | -€20,098 | +€6,333 | +24.0% |
| Income taxes | 67/77 | - | €2 | +€2 | |
| Profit (loss) for the period | 9904 | -€26,431 | -€20,101 | +€6,330 | +24.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,431 | -€20,101 | +€6,330 | +24.0% |
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.