DC NAEGELS: what changed
DC NAEGELS
Largest movements
- Cash +€146,662
up €146,662 (+384%), from €38,233 to €184,895
mainly Current investments (+€131,238) and Net result for the year (+€45,472)
- Current investments -€131,238
no longer reported in 2025 (was €131,238)
- Deferred charges and accrued income +€2,429
up €2,429 (+371%), from €655 to €3,084
- Other debts +€15,411
up €15,411 (+283%), from €5,453 to €20,864
- Trade debts -€5,947
down €5,947 (-81.2%), from €7,325 to €1,378
- Tax, wage and social debts +€4,604
up €4,604 (+107%), from €4,305 to €8,909
of which Remuneration and social security: +€2,636
- Reserves +€2,500
up €2,500 (+1.6%), from €160,710 to €163,210
- Gross operating margin +€5,500
up €5,500 (+8.4%), from €65,197 to €70,697
- Taxes +€1,916
up €1,916 (+11.4%), from €16,754 to €18,670
- Other operating charges +€1,470
up €1,470 (+97.3%), from €1,510 to €2,981
- Depreciation -€860
down €860 (-16.9%), from €5,079 to €4,220
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €191,090 | €208,129 | +€17,040 | +8.9% |
| Fixed assets | 21/28 | €9,364 | €10,309 | +€945 | +10.1% |
| Tangible fixed assets | 22/27 | €8,614 | €9,559 | +€945 | +11.0% |
| Plant, machinery and equipment | 23 | €4,030 | €3,596 | -€434 | -10.8% |
| Furniture and vehicles | 24 | €2,003 | €0 | -€2,003 | -100% |
| Other tangible fixed assets | 26 | €2,581 | €5,963 | +€3,382 | +131% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €181,726 | €197,820 | +€16,095 | +8.9% |
| Amounts receivable within one year | 40/41 | €11,600 | €9,841 | -€1,759 | -15.2% |
| Trade receivables | 40 | €6,209 | €8,000 | +€1,791 | +28.8% |
| Other amounts receivable | 41 | €5,391 | €1,841 | -€3,550 | -65.8% |
| Current investments | 50/53 | €131,238 | - | -€131,238 | |
| Cash at bank and in hand | 54/58 | €38,233 | €184,895 | +€146,662 | +384% |
| Deferred charges and accrued income | 490/1 | €655 | €3,084 | +€2,429 | +371% |
| Total equity and liabilities | 10/49 | €191,090 | €208,129 | +€17,040 | +8.9% |
| Equity | 10/15 | €174,007 | €176,979 | +€2,972 | +1.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €160,710 | €163,210 | +€2,500 | +1.6% |
| Distributable reserves | 133 | €160,710 | €163,210 | +€2,500 | +1.6% |
| Profit (loss) carried forward | 14 | €897 | €1,369 | +€472 | +52.7% |
| Amounts payable | 17/49 | €17,083 | €31,151 | +€14,068 | +82.3% |
| Amounts payable within one year | 42/48 | €17,083 | €31,151 | +€14,068 | +82.3% |
| Trade debts | 44 | €7,325 | €1,378 | -€5,947 | -81.2% |
| Suppliers | 440/4 | €7,325 | €1,378 | -€5,947 | -81.2% |
| Taxes, remuneration and social security | 45 | €4,305 | €8,909 | +€4,604 | +107% |
| Taxes | 450/3 | €4,305 | €6,273 | +€1,968 | +45.7% |
| Remuneration and social security | 454/9 | - | €2,636 | +€2,636 | |
| Other amounts payable | 47/48 | €5,453 | €20,864 | +€15,411 | +283% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,079 | €4,220 | -€860 | -16.9% |
| Other operating charges | 640/8 | €1,510 | €2,981 | +€1,470 | +97.3% |
| Gross operating margin | 9900 | €65,197 | €70,697 | +€5,500 | +8.4% |
| Operating profit (loss) | 9901 | €58,607 | €63,497 | +€4,890 | +8.3% |
| Financial income | 75/76B | €46 | €741 | +€694 | +1,504% |
| Recurring financial income | 75 | €46 | €741 | +€694 | +1,504% |
| Financial charges | 65/66B | €146 | €95 | -€51 | -34.7% |
| Recurring financial charges | 65 | €146 | €95 | -€51 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €58,508 | €64,142 | +€5,635 | +9.6% |
| Income taxes | 67/77 | €16,754 | €18,670 | +€1,916 | +11.4% |
| Profit (loss) for the period | 9904 | €41,753 | €45,472 | +€3,719 | +8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €41,753 | €45,472 | +€3,719 | +8.9% |
Next steps
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 7 November 2026 via checked.be.