DCOL: 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.
DCOL
Largest movements
- Financial fixed assets +€165,000
up €165,000 (+39.3%), from €420,000 to €585,000
- Cash +€35,517
up €35,517 (+61.4%), from €57,840 to €93,356
mainly Net result for the year (+€167,299) and Debts after one year (+€36,432)
- Receivables within one year -€7,205
down €7,205 (-28.6%), from €25,227 to €18,021
of which Other amounts receivable: -€8,682
- Reserves +€167,299
up €167,299 (+125%), from €133,384 to €300,684
- Debts after one year +€36,432
up €36,432 (+12.5%), from €292,519 to €328,951
- Current portion of long-term debt -€8,536
down €8,536 (-16.8%), from €50,724 to €42,188
- Financial income +€46,000
up €46,000 (+44.2%), from €104,000 to €150,000
- Gross operating margin -€25,880
down €25,880 (-34.3%), from €75,407 to €49,527
- Financial charges -€10,449
down €10,449 (-30.5%), from €34,221 to €23,772
- Taxes -€2,654
down €2,654 (-26.1%), from €10,161 to €7,507
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 | €509,627 | €702,057 | +€192,430 | +37.8% |
| Formation expenses | 20 | €1,829 | €1,285 | -€544 | -29.7% |
| Fixed assets | 21/28 | €421,568 | €586,391 | +€164,823 | +39.1% |
| Tangible fixed assets | 22/27 | €1,568 | €1,391 | -€177 | -11.3% |
| Plant, machinery and equipment | 23 | €1,568 | €1,391 | -€177 | -11.3% |
| Financial fixed assets | 28 | €420,000 | €585,000 | +€165,000 | +39.3% |
| Current assets | 29/58 | €86,230 | €114,382 | +€28,151 | +32.6% |
| Amounts receivable within one year | 40/41 | €25,227 | €18,021 | -€7,205 | -28.6% |
| Trade receivables | 40 | €16,544 | €18,021 | +€1,477 | +8.9% |
| Other amounts receivable | 41 | €8,682 | €0 | -€8,682 | -100% |
| Cash at bank and in hand | 54/58 | €57,840 | €93,356 | +€35,517 | +61.4% |
| Deferred charges and accrued income | 490/1 | €3,164 | €3,004 | -€160 | -5.0% |
| Total equity and liabilities | 10/49 | €509,627 | €702,057 | +€192,430 | +37.8% |
| Equity | 10/15 | €136,384 | €303,684 | +€167,299 | +123% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €133,384 | €300,684 | +€167,299 | +125% |
| Distributable reserves | 133 | €133,384 | €300,684 | +€167,299 | +125% |
| Amounts payable | 17/49 | €373,243 | €398,374 | +€25,131 | +6.7% |
| Amounts payable after more than one year | 17 | €292,519 | €328,951 | +€36,432 | +12.5% |
| Financial debts | 170/4 | €292,519 | €328,951 | +€36,432 | +12.5% |
| Amounts payable within one year | 42/48 | €79,158 | €67,757 | -€11,401 | -14.4% |
| Current portion of amounts payable after more than one year | 42 | €50,724 | €42,188 | -€8,536 | -16.8% |
| Trade debts | 44 | €1,587 | €1,543 | -€44 | -2.8% |
| Suppliers | 440/4 | €1,587 | €1,543 | -€44 | -2.8% |
| Taxes, remuneration and social security | 45 | €20,181 | €17,829 | -€2,353 | -11.7% |
| Taxes | 450/3 | €20,181 | €17,829 | -€2,353 | -11.7% |
| Other amounts payable | 47/48 | €6,666 | €6,198 | -€468 | -7.0% |
| Accrued charges and deferred income | 492/3 | €1,566 | €1,666 | +€100 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,094 | €721 | -€373 | -34.1% |
| Other operating charges | 640/8 | €547 | €228 | -€319 | -58.4% |
| Gross operating margin | 9900 | €75,407 | €49,527 | -€25,880 | -34.3% |
| Operating profit (loss) | 9901 | €73,766 | €48,578 | -€25,188 | -34.1% |
| Financial income | 75/76B | €104,000 | €150,000 | +€46,000 | +44.2% |
| Recurring financial income | 75 | €104,000 | €150,000 | +€46,000 | +44.2% |
| Financial charges | 65/66B | €34,221 | €23,772 | -€10,449 | -30.5% |
| Recurring financial charges | 65 | €34,221 | €23,772 | -€10,449 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | €143,545 | €174,806 | +€31,261 | +21.8% |
| Income taxes | 67/77 | €10,161 | €7,507 | -€2,654 | -26.1% |
| Profit (loss) for the period | 9904 | €133,384 | €167,299 | +€33,915 | +25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €133,384 | €167,299 | +€33,915 | +25.4% |
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 25 October 2026 via checked.be.