DAX: 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.
DAX
Largest movements
- Stocks and contracts +€15,850
up €15,850 (+33.7%), from €47,000 to €62,850
- Profit (loss) carried forward +€29,030
up €29,030 (+10.5%), from -€277,189 to -€248,159
- Other debts -€12,274
down €12,274 (-27.5%), from €44,576 to €32,302
- Financial charges -€11,080
down €11,080 (-39.9%), from €27,754 to €16,674
- Gross operating margin +€3,961
up €3,961 (+6.3%), from €63,059 to €67,019
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €228,314 | €245,878 | +€17,564 | +7.7% |
| Fixed assets | 21/28 | €116,539 | €116,765 | +€226 | +0.2% |
| Tangible fixed assets | 22/27 | €1,539 | €1,765 | +€226 | +14.7% |
| Furniture and vehicles | 24 | €1,539 | €1,765 | +€226 | +14.7% |
| Financial fixed assets | 28 | €115,000 | €115,000 | = | 0.0% |
| Current assets | 29/58 | €111,775 | €129,113 | +€17,338 | +15.5% |
| Stocks and contracts in progress | 3 | €47,000 | €62,850 | +€15,850 | +33.7% |
| Stocks | 30/36 | €47,000 | €62,850 | +€15,850 | +33.7% |
| Amounts receivable within one year | 40/41 | €64,775 | €66,263 | +€1,488 | +2.3% |
| Trade receivables | 40 | €64,753 | €66,237 | +€1,484 | +2.3% |
| Other amounts receivable | 41 | €21 | €26 | +€4 | +20.8% |
| Total equity and liabilities | 10/49 | €228,314 | €245,878 | +€17,564 | +7.7% |
| Equity | 10/15 | -€258,597 | -€229,567 | +€29,030 | +11.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€277,189 | -€248,159 | +€29,030 | +10.5% |
| Amounts payable | 17/49 | €486,911 | €475,445 | -€11,466 | -2.4% |
| Amounts payable after more than one year | 17 | €231,008 | €231,008 | = | 0.0% |
| Financial debts | 170/4 | €231,008 | €231,008 | = | 0.0% |
| Amounts payable within one year | 42/48 | €255,903 | €244,437 | -€11,466 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €200,000 | €200,000 | = | 0.0% |
| Financial debts | 43 | €453 | €115 | -€339 | -74.7% |
| Credit institutions | 430/8 | €453 | €115 | -€339 | -74.7% |
| Trade debts | 44 | €4,129 | €4,898 | +€769 | +18.6% |
| Suppliers | 440/4 | €4,129 | €4,898 | +€769 | +18.6% |
| Taxes, remuneration and social security | 45 | €6,744 | €7,122 | +€378 | +5.6% |
| Taxes | 450/3 | €2,977 | €3,240 | +€262 | +8.8% |
| Remuneration and social security | 454/9 | €3,767 | €3,882 | +€115 | +3.1% |
| Other amounts payable | 47/48 | €44,576 | €32,302 | -€12,274 | -27.5% |
| Remuneration, social security and pensions | 62 | €19,850 | €19,957 | +€107 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €922 | €935 | +€13 | +1.4% |
| Other operating charges | 640/8 | - | €423 | +€423 | |
| Gross operating margin | 9900 | €63,059 | €67,019 | +€3,961 | +6.3% |
| Operating profit (loss) | 9901 | €42,287 | €45,704 | +€3,417 | +8.1% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €27,754 | €16,674 | -€11,080 | -39.9% |
| Recurring financial charges | 65 | €27,754 | €16,674 | -€11,080 | -39.9% |
| Profit (loss) for the period before taxes | 9903 | €14,535 | €29,030 | +€14,496 | +99.7% |
| Profit (loss) for the period | 9904 | €14,535 | €29,030 | +€14,496 | +99.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,535 | €29,030 | +€14,496 | +99.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.