DC STABLES: 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.
DC STABLES
Largest movements
- Stocks and contracts -€186,150
down €186,150 (-16.8%), from €1.1m to €923,378
- Cash +€52,226
up €52,226 (+184.0%), from €28,378 to €80,604
mainly Stocks and contracts (+€186,150) and Other debts (+€49,876)
- Profit (loss) carried forward -€195,195
down €195,195, from €7,120 to -€188,076
- Other debts +€49,876
up €49,876 (+5.0%), from €988,301 to €1.0m
- Tax, wage and social debts +€12,471
new in 2025: €12,471
- Gross operating margin -€195,322
down €195,322, from €4,760 to -€190,562
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 | €1,159,639 | €1,015,197 | -€144,442 | -12.5% |
| Fixed assets | 21/28 | €9,195 | €8,398 | -€797 | -8.7% |
| Tangible fixed assets | 22/27 | €9,195 | €8,398 | -€797 | -8.7% |
| Plant, machinery and equipment | 23 | €8,049 | €7,682 | -€367 | -4.6% |
| Other tangible fixed assets | 26 | €1,147 | €717 | -€430 | -37.5% |
| Current assets | 29/58 | €1,150,444 | €1,006,799 | -€143,645 | -12.5% |
| Stocks and contracts in progress | 3 | €1,109,528 | €923,378 | -€186,150 | -16.8% |
| Stocks | 30/36 | €1,109,528 | €923,378 | -€186,150 | -16.8% |
| Amounts receivable within one year | 40/41 | €10,665 | €924 | -€9,741 | -91.3% |
| Trade receivables | 40 | - | €755 | +€755 | |
| Other amounts receivable | 41 | €10,665 | €168 | -€10,497 | -98.4% |
| Cash at bank and in hand | 54/58 | €28,378 | €80,604 | +€52,226 | +184.0% |
| Deferred charges and accrued income | 490/1 | €1,873 | €1,893 | +€20 | +1.1% |
| Total equity and liabilities | 10/49 | €1,159,639 | €1,015,197 | -€144,442 | -12.5% |
| Equity | 10/15 | €149,162 | -€46,033 | -€195,195 | |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Reserves | 13 | €2,043 | €2,043 | = | 0.0% |
| Distributable reserves | 133 | €2,043 | €2,043 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,120 | -€188,076 | -€195,195 | |
| Amounts payable | 17/49 | €1,010,477 | €1,061,230 | +€50,753 | +5.0% |
| Amounts payable within one year | 42/48 | €1,010,477 | €1,061,230 | +€50,753 | +5.0% |
| Trade debts | 44 | €22,176 | €10,582 | -€11,594 | -52.3% |
| Suppliers | 440/4 | €22,176 | €10,582 | -€11,594 | -52.3% |
| Taxes, remuneration and social security | 45 | - | €12,471 | +€12,471 | |
| Taxes | 450/3 | - | €12,471 | +€12,471 | |
| Other amounts payable | 47/48 | €988,301 | €1,038,177 | +€49,876 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,815 | €3,092 | +€277 | +9.8% |
| Other operating charges | 640/8 | €1,506 | €1,471 | -€35 | -2.3% |
| Gross operating margin | 9900 | €4,760 | -€190,562 | -€195,322 | |
| Operating profit (loss) | 9901 | €439 | -€195,125 | -€195,564 | |
| Financial charges | 65/66B | €76 | €70 | -€5 | -7.2% |
| Recurring financial charges | 65 | €76 | €70 | -€5 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €363 | -€195,195 | -€195,558 | |
| Profit (loss) for the period | 9904 | €363 | -€195,195 | -€195,558 | |
| Profit (loss) for the period to be appropriated | 9905 | €363 | -€195,195 | -€195,558 |
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.