DB-CAPITAL BEHEER: what changed
What changed
DB-CAPITAL BEHEER
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€105,649
2024 · €195,333-€89,684
Equity
€1.9m
2024 · €1.8m+€105,649
Cash
€120,504
2024 · €100,078+€20,426
Balance sheet total
€2.1m
2024 · €2.1m+€60,564
Largest movements
Assets
- Current investments +€127,268
up €127,268 (+51.6%), from €246,496 to €373,764
- Tangible fixed assets -€78,367
down €78,367 (-4.8%), from €1.6m to €1.5m
of which Land and buildings: -€77,302
Equity and liabilities
- Reserves +€105,649
up €105,649 (+5.8%), from €1.8m to €1.9m
of which Distributable reserves: +€109,203
- Trade debts -€31,081
down €31,081 (-98.7%), from €31,481 to €400
Income statement
- Financial income -€60,056
down €60,056 (-89.4%), from €67,197 to €7,141
- Depreciation +€36,175
up €36,175 (+85.7%), from €42,191 to €78,367
- Taxes -€9,209
down €9,209 (-23.8%), from €38,761 to €29,552
- Other operating charges +€2,661
up €2,661 (+100%), from €2,659 to €5,320
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€195,333
Gross operating margin
+€894
Depreciation
-€36,175
Other operating charges
-€2,661
Financial income
-€60,056
Financial charges
-€1,343
Taxes
+€9,209
Deferred taxes and other
+€448
Result 2025
€105,649
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€155,841
Investment
-€127,268
Financing
-€8,147
Cash 2024
€100,078
From operations (derived)
+€155,841
Net result for the year
+€105,649
Depreciation
+€78,367
Receivables within one year
+€7,209
Deferred charges and accrued income
+€1,554
Provisions
-€889
Trade debts
-€31,081
Tax, wage and social debts
-€4,889
Accrued charges and deferred income
-€80
Investment (derived)
-€127,268
Current investments
-€127,268
Financing
-€8,147
Debts after one year
-€16,710
Current portion of long-term debt
+€140
Short-term financial debts
+€8,424
Cash 2025
€120,504
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,075,123 | €2,135,687 | +€60,564 | +2.9% |
| Fixed assets | 21/28 | €1,682,302 | €1,603,935 | -€78,367 | -4.7% |
| Tangible fixed assets | 22/27 | €1,619,802 | €1,541,435 | -€78,367 | -4.8% |
| Land and buildings | 22 | €1,615,583 | €1,538,282 | -€77,302 | -4.8% |
| Furniture and vehicles | 24 | €4,219 | €3,154 | -€1,065 | -25.2% |
| Financial fixed assets | 28 | €62,500 | €62,500 | = | 0.0% |
| Current assets | 29/58 | €392,821 | €531,752 | +€138,931 | +35.4% |
| Amounts receivable within one year | 40/41 | €35,366 | €28,157 | -€7,209 | -20.4% |
| Trade receivables | 40 | €30,001 | €26,269 | -€3,733 | -12.4% |
| Other amounts receivable | 41 | €5,365 | €1,888 | -€3,476 | -64.8% |
| Current investments | 50/53 | €246,496 | €373,764 | +€127,268 | +51.6% |
| Cash at bank and in hand | 54/58 | €100,078 | €120,504 | +€20,426 | +20.4% |
| Deferred charges and accrued income | 490/1 | €10,880 | €9,326 | -€1,554 | -14.3% |
| Total equity and liabilities | 10/49 | €2,075,123 | €2,135,687 | +€60,564 | +2.9% |
| Equity | 10/15 | €1,827,412 | €1,933,061 | +€105,649 | +5.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,815,012 | €1,920,661 | +€105,649 | +5.8% |
| Tax-exempt reserves | 132 | €69,319 | €65,765 | -€3,554 | -5.1% |
| Distributable reserves | 133 | €1,745,693 | €1,854,896 | +€109,203 | +6.3% |
| Provisions and deferred taxes | 16 | €17,330 | €16,441 | -€889 | -5.1% |
| Deferred taxes | 168 | €17,330 | €16,441 | -€889 | -5.1% |
| Amounts payable | 17/49 | €230,381 | €186,184 | -€44,197 | -19.2% |
| Amounts payable after more than one year | 17 | €134,729 | €118,019 | -€16,710 | -12.4% |
| Financial debts | 170/4 | €134,729 | €118,019 | -€16,710 | -12.4% |
| Amounts payable within one year | 42/48 | €70,858 | €43,451 | -€27,407 | -38.7% |
| Current portion of amounts payable after more than one year | 42 | €16,570 | €16,710 | +€140 | +0.8% |
| Financial debts | 43 | - | €8,424 | +€8,424 | |
| Other loans | 439 | - | €8,424 | +€8,424 | |
| Trade debts | 44 | €31,481 | €400 | -€31,081 | -98.7% |
| Suppliers | 440/4 | €31,481 | €400 | -€31,081 | -98.7% |
| Taxes, remuneration and social security | 45 | €22,806 | €17,918 | -€4,889 | -21.4% |
| Taxes | 450/3 | €22,806 | €17,918 | -€4,889 | -21.4% |
| Accrued charges and deferred income | 492/3 | €24,795 | €24,715 | -€80 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,191 | €78,367 | +€36,175 | +85.7% |
| Other operating charges | 640/8 | €2,659 | €5,320 | +€2,661 | +100% |
| Gross operating margin | 9900 | €216,016 | €216,910 | +€894 | +0.4% |
| Operating profit (loss) | 9901 | €171,166 | €133,224 | -€37,942 | -22.2% |
| Financial income | 75/76B | €67,197 | €7,141 | -€60,056 | -89.4% |
| Recurring financial income | 75 | €67,197 | €7,141 | -€60,056 | -89.4% |
| Financial charges | 65/66B | €4,708 | €6,051 | +€1,343 | +28.5% |
| Recurring financial charges | 65 | €4,708 | €6,051 | +€1,343 | +28.5% |
| Profit (loss) for the period before taxes | 9903 | €233,654 | €134,313 | -€99,341 | -42.5% |
| Transfer from deferred taxes | 780 | €441 | €889 | +€448 | +102% |
| Income taxes | 67/77 | €38,761 | €29,552 | -€9,209 | -23.8% |
| Profit (loss) for the period | 9904 | €195,333 | €105,649 | -€89,684 | -45.9% |
| Transfer from tax-exempt reserves | 789 | €1,762 | €3,554 | +€1,792 | +102% |
| Profit (loss) for the period to be appropriated | 9905 | €197,096 | €109,203 | -€87,892 | -44.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.