DCR: 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.
DCR
Largest movements
- Cash -€631,400
down €631,400 (-70.4%), from €897,305 to €265,905
mainly Contributions, distributions and other (-€660,758) and Current portion of long-term debt (-€332,838)
- Receivables within one year -€485,989
down €485,989 (-44.8%), from €1.1m to €598,826
of which Trade receivables: -€444,078
- Current investments +€97,446
up €97,446 (+50.8%), from €191,664 to €289,111
- Tangible fixed assets +€73,313
up €73,313 (+3.0%), from €2.4m to €2.5m
of which Land and buildings: +€42,241
- Current portion of long-term debt -€332,838
down €332,838 (-74.2%), from €448,747 to €115,908
- Tax, wage and social debts -€254,556
down €254,556 (-40.4%), from €630,144 to €375,587
of which Taxes: -€258,896
- Reserves -€189,754
down €189,754 (-4.9%), from €3.9m to €3.7m
- Debts after one year -€115,908
down €115,908 (-15.1%), from €769,056 to €653,147
- Gross operating margin -€503,898
down €503,898 (-34.9%), from €1.4m to €939,925
- Taxes -€112,007
down €112,007 (-37.5%), from €298,663 to €186,656
- Financial charges -€94,254
down €94,254 (-35.7%), from €263,999 to €169,745
- Staff costs +€27,296
up €27,296 (+62.3%), from €43,795 to €71,091
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 | €5,814,995 | €4,874,054 | -€940,940 | -16.2% |
| Fixed assets | 21/28 | €3,632,839 | €3,706,152 | +€73,313 | +2.0% |
| Tangible fixed assets | 22/27 | €2,441,648 | €2,514,960 | +€73,313 | +3.0% |
| Land and buildings | 22 | €2,330,313 | €2,372,555 | +€42,241 | +1.8% |
| Plant, machinery and equipment | 23 | €101,335 | €117,982 | +€16,647 | +16.4% |
| Furniture and vehicles | 24 | €9,999 | €24,424 | +€14,425 | +144.3% |
| Financial fixed assets | 28 | €1,191,191 | €1,191,191 | = | 0.0% |
| Current assets | 29/58 | €2,182,156 | €1,167,903 | -€1.0m | -46.5% |
| Amounts receivable within one year | 40/41 | €1,084,815 | €598,826 | -€485,989 | -44.8% |
| Trade receivables | 40 | €667,536 | €223,458 | -€444,078 | -66.5% |
| Other amounts receivable | 41 | €417,279 | €375,368 | -€41,910 | -10.0% |
| Current investments | 50/53 | €191,664 | €289,111 | +€97,446 | +50.8% |
| Cash at bank and in hand | 54/58 | €897,305 | €265,905 | -€631,400 | -70.4% |
| Deferred charges and accrued income | 490/1 | €8,372 | €14,062 | +€5,689 | +68.0% |
| Total equity and liabilities | 10/49 | €5,814,995 | €4,874,054 | -€940,940 | -16.2% |
| Equity | 10/15 | €3,888,656 | €3,698,903 | -€189,754 | -4.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €3,882,456 | €3,692,703 | -€189,754 | -4.9% |
| Distributable reserves | 133 | €3,882,456 | €3,692,703 | -€189,754 | -4.9% |
| Amounts payable | 17/49 | €1,926,339 | €1,175,152 | -€751,187 | -39.0% |
| Amounts payable after more than one year | 17 | €769,056 | €653,147 | -€115,908 | -15.1% |
| Financial debts | 170/4 | €769,056 | €653,147 | -€115,908 | -15.1% |
| Amounts payable within one year | 42/48 | €1,157,283 | €522,004 | -€635,279 | -54.9% |
| Current portion of amounts payable after more than one year | 42 | €448,747 | €115,908 | -€332,838 | -74.2% |
| Trade debts | 44 | €78,393 | €30,509 | -€47,884 | -61.1% |
| Suppliers | 440/4 | €78,393 | €30,509 | -€47,884 | -61.1% |
| Taxes, remuneration and social security | 45 | €630,144 | €375,587 | -€254,556 | -40.4% |
| Taxes | 450/3 | €625,872 | €366,975 | -€258,896 | -41.4% |
| Remuneration and social security | 454/9 | €4,272 | €8,612 | +€4,340 | +101.6% |
| Remuneration, social security and pensions | 62 | €43,795 | €71,091 | +€27,296 | +62.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180,160 | €179,868 | -€292 | -0.2% |
| Other operating charges | 640/8 | €14,186 | €14,378 | +€191 | +1.3% |
| Gross operating margin | 9900 | €1,443,824 | €939,925 | -€503,898 | -34.9% |
| Operating profit (loss) | 9901 | €1,205,682 | €674,589 | -€531,093 | -44.0% |
| Financial income | 75/76B | €146,868 | €152,816 | +€5,947 | +4.0% |
| Recurring financial income | 75 | €146,868 | €152,816 | +€5,947 | +4.0% |
| Financial charges | 65/66B | €263,999 | €169,745 | -€94,254 | -35.7% |
| Recurring financial charges | 65 | €263,999 | €169,745 | -€94,254 | -35.7% |
| Profit (loss) for the period before taxes | 9903 | €1,088,552 | €657,660 | -€430,892 | -39.6% |
| Income taxes | 67/77 | €298,663 | €186,656 | -€112,007 | -37.5% |
| Profit (loss) for the period | 9904 | €789,889 | €471,004 | -€318,885 | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €789,889 | €471,004 | -€318,885 | -40.4% |
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 10 October 2026 via checked.be.