DAWN: 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.
DAWN
Largest movements
- Receivables within one year +€38,792
up €38,792 (+106.7%), from €36,363 to €75,156
of which Trade receivables: +€38,792
- Tangible fixed assets +€21,489
up €21,489 (+4.4%), from €484,442 to €505,930
of which Land and buildings: +€21,730
- Trade debts +€50,480
up €50,480 (+246.6%), from €20,468 to €70,948
- Profit (loss) carried forward +€10,632
up €10,632 (+35.2%), from €30,214 to €40,846
- Other debts +€9,893
up €9,893 (+3.6%), from €273,377 to €283,269
- Debts after one year -€9,405
down €9,405 (-11.2%), from €83,808 to €74,403
- Gross operating margin +€7,280
up €7,280 (+18.3%), from €39,872 to €47,152
- Taxes +€1,467
new in 2025: €1,467
- Depreciation +€1,280
up €1,280 (+5.1%), from €25,053 to €26,333
- Financial charges -€1,252
down €1,252 (-17.4%), from €7,184 to €5,932
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 | €524,364 | €584,970 | +€60,607 | +11.6% |
| Fixed assets | 21/28 | €484,442 | €505,930 | +€21,489 | +4.4% |
| Tangible fixed assets | 22/27 | €484,442 | €505,930 | +€21,489 | +4.4% |
| Land and buildings | 22 | €482,267 | €503,997 | +€21,730 | +4.5% |
| Plant, machinery and equipment | 23 | €2,174 | €1,933 | -€242 | -11.1% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €39,922 | €79,040 | +€39,118 | +98.0% |
| Amounts receivable within one year | 40/41 | €36,363 | €75,156 | +€38,792 | +106.7% |
| Trade receivables | 40 | €36,363 | €75,156 | +€38,792 | +106.7% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €0 | €155 | +€155 | |
| Deferred charges and accrued income | 490/1 | €3,559 | €3,729 | +€170 | +4.8% |
| Total equity and liabilities | 10/49 | €524,364 | €584,970 | +€60,607 | +11.6% |
| Equity | 10/15 | €129,359 | €139,991 | +€10,632 | +8.2% |
| Contributions | 10/11 | €97,500 | €97,500 | = | 0.0% |
| Reserves | 13 | €1,645 | €1,645 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,645 | €1,645 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,645 | €1,645 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,214 | €40,846 | +€10,632 | +35.2% |
| Amounts payable | 17/49 | €395,004 | €444,979 | +€49,975 | +12.7% |
| Amounts payable after more than one year | 17 | €83,808 | €74,403 | -€9,405 | -11.2% |
| Financial debts | 170/4 | €83,808 | €74,403 | -€9,405 | -11.2% |
| Amounts payable within one year | 42/48 | €311,191 | €370,572 | +€59,381 | +19.1% |
| Current portion of amounts payable after more than one year | 42 | €9,698 | €9,405 | -€293 | -3.0% |
| Financial debts | 43 | €20 | €0 | -€20 | -100.0% |
| Credit institutions | 430/8 | €20 | €0 | -€20 | -100.0% |
| Trade debts | 44 | €20,468 | €70,948 | +€50,480 | +246.6% |
| Suppliers | 440/4 | €20,468 | €70,948 | +€50,480 | +246.6% |
| Taxes, remuneration and social security | 45 | €7,628 | €6,949 | -€679 | -8.9% |
| Taxes | 450/3 | €7,628 | €6,949 | -€679 | -8.9% |
| Other amounts payable | 47/48 | €273,377 | €283,269 | +€9,893 | +3.6% |
| Accrued charges and deferred income | 492/3 | €5 | €5 | -€1 | -13.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,053 | €26,333 | +€1,280 | +5.1% |
| Other operating charges | 640/8 | €2,703 | €2,788 | +€85 | +3.1% |
| Gross operating margin | 9900 | €39,872 | €47,152 | +€7,280 | +18.3% |
| Operating profit (loss) | 9901 | €12,116 | €18,031 | +€5,915 | +48.8% |
| Financial charges | 65/66B | €7,184 | €5,932 | -€1,252 | -17.4% |
| Recurring financial charges | 65 | €7,184 | €5,932 | -€1,252 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €4,932 | €12,098 | +€7,167 | +145.3% |
| Income taxes | 67/77 | - | €1,467 | +€1,467 | |
| Profit (loss) for the period | 9904 | €4,932 | €10,632 | +€5,700 | +115.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,932 | €10,632 | +€5,700 | +115.6% |
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 4 October 2026 via checked.be.