DC-Hold: 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.
DC-Hold
Largest movements
- Tangible fixed assets +€595,945
up €595,945 (+40.7%), from €1.5m to €2.1m
of which Land and buildings: +€525,753
- Receivables within one year +€322,855
up €322,855 (+3,187%), from €10,132 to €332,986
of which Other amounts receivable: +€313,053
- Cash +€259,896
up €259,896 (+340%), from €76,472 to €336,368
mainly Net result for the year (+€1.3m) and Provisions (+€104,457)
- Current investments +€210,210
up €210,210 (+24.6%), from €854,321 to €1.1m
- Reserves +€1.3m
up €1.3m (+95.8%), from €1.4m to €2.7m
of which Distributable reserves: +€656,496
- Other debts -€148,365
down €148,365 (-100%), from €148,365 to €0
- Provisions +€104,457
new in 2025: €104,457
- Current portion of long-term debt +€60,281
up €60,281 (+39.0%), from €154,691 to €214,972
- Debts after one year +€50,028
up €50,028 (+7.1%), from €708,892 to €758,920
- Gross operating margin +€1.1m
up €1.1m (+107%), from €998,955 to €2.1m
- Taxes +€254,902
up €254,902 (+154%), from €165,789 to €420,692
- Provisions +€104,457
new in 2025: €104,457
- Financial charges -€59,659
down €59,659 (-33.8%), from €176,613 to €116,954
- Other operating charges -€21,288
down €21,288 (-21.9%), from €97,118 to €75,831
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 | €2,418,408 | €3,799,688 | +€1.4m | +57.1% |
| Fixed assets | 21/28 | €1,469,858 | €2,065,803 | +€595,945 | +40.5% |
| Tangible fixed assets | 22/27 | €1,465,858 | €2,061,803 | +€595,945 | +40.7% |
| Land and buildings | 22 | €1,445,879 | €1,971,632 | +€525,753 | +36.4% |
| Plant, machinery and equipment | 23 | €19,979 | €90,171 | +€70,192 | +351% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €948,550 | €1,733,885 | +€785,335 | +82.8% |
| Amounts receivable within one year | 40/41 | €10,132 | €332,986 | +€322,855 | +3,187% |
| Trade receivables | 40 | €2,823 | €12,625 | +€9,802 | +347% |
| Other amounts receivable | 41 | €7,309 | €320,361 | +€313,053 | +4,283% |
| Current investments | 50/53 | €854,321 | €1,064,531 | +€210,210 | +24.6% |
| Cash at bank and in hand | 54/58 | €76,472 | €336,368 | +€259,896 | +340% |
| Deferred charges and accrued income | 490/1 | €7,626 | €0 | -€7,626 | -100% |
| Total equity and liabilities | 10/49 | €2,418,408 | €3,799,688 | +€1.4m | +57.1% |
| Equity | 10/15 | €1,395,903 | €2,704,949 | +€1.3m | +93.8% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Contributions outside capital | 11 | €30,000 | - | -€30,000 | |
| Share premium | 1100/10 | €30,000 | - | -€30,000 | |
| Reserves | 13 | €1,365,903 | €2,674,949 | +€1.3m | +95.8% |
| Tax-exempt reserves | 132 | €665,180 | €1,317,730 | +€652,550 | +98.1% |
| Distributable reserves | 133 | €700,723 | €1,357,219 | +€656,496 | +93.7% |
| Provisions and deferred taxes | 16 | - | €104,457 | +€104,457 | |
| Provisions for liabilities and charges | 160/5 | - | €104,457 | +€104,457 | |
| Other liabilities and charges | 164/5 | - | €104,457 | +€104,457 | |
| Amounts payable | 17/49 | €1,022,505 | €990,283 | -€32,223 | -3.2% |
| Amounts payable after more than one year | 17 | €708,892 | €758,920 | +€50,028 | +7.1% |
| Financial debts | 170/4 | €708,892 | €758,920 | +€50,028 | +7.1% |
| Amounts payable within one year | 42/48 | €313,014 | €231,363 | -€81,651 | -26.1% |
| Current portion of amounts payable after more than one year | 42 | €154,691 | €214,972 | +€60,281 | +39.0% |
| Trade debts | 44 | €1,499 | €5,753 | +€4,254 | +284% |
| Suppliers | 440/4 | €1,499 | €5,753 | +€4,254 | +284% |
| Taxes, remuneration and social security | 45 | €8,459 | €10,638 | +€2,178 | +25.8% |
| Taxes | 450/3 | €8,459 | €10,638 | +€2,178 | +25.8% |
| Other amounts payable | 47/48 | €148,365 | €0 | -€148,365 | -100% |
| Accrued charges and deferred income | 492/3 | €600 | €0 | -€600 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,699 | €54,007 | +€17,309 | +47.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €104,457 | +€104,457 | |
| Other operating charges | 640/8 | €97,118 | €75,831 | -€21,288 | -21.9% |
| Non-recurring operating charges | 66A | - | €2,823 | +€2,823 | |
| Gross operating margin | 9900 | €998,955 | €2,064,165 | +€1.1m | +107% |
| Operating profit (loss) | 9901 | €865,138 | €1,827,048 | +€961,909 | +111% |
| Financial income | 75/76B | €8,969 | €19,644 | +€10,675 | +119% |
| Recurring financial income | 75 | €8,969 | €19,644 | +€10,675 | +119% |
| Financial charges | 65/66B | €176,613 | €116,954 | -€59,659 | -33.8% |
| Recurring financial charges | 65 | €176,613 | €116,954 | -€59,659 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €697,495 | €1,729,738 | +€1.0m | +148% |
| Income taxes | 67/77 | €165,789 | €420,692 | +€254,902 | +154% |
| Profit (loss) for the period | 9904 | €531,706 | €1,309,046 | +€777,341 | +146% |
| Transfer to tax-exempt reserves | 689 | €265,230 | €652,550 | +€387,320 | +146% |
| Profit (loss) for the period to be appropriated | 9905 | €266,476 | €656,496 | +€390,021 | +146% |
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 24 October 2026 via checked.be.