De Dageraad: what changed
What changed
De Dageraad
NACE 16.282, Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
filed annual accounts (NBB)
Net result for the year
-€98,756
2024 · €139,346-€238,102
Equity
€2.0m
2024 · €2.1m-€90,724
Cash
€359,976
2024 · €405,100-€45,124
Balance sheet total
€2.8m
2024 · €2.9m-€163,118
Largest movements
Assets
- Tangible fixed assets -€75,463
down €75,463 (-3.8%), from €2.0m to €1.9m
of which Land and buildings: -€60,135
- Receivables within one year -€53,304
down €53,304 (-12.7%), from €419,878 to €366,574
of which Trade receivables: -€39,287
- Cash -€45,124
down €45,124 (-11.1%), from €405,100 to €359,976
mainly Net result for the year (-€98,756) and Investment in fixed assets (net) (-€50,782)
Equity and liabilities
- Profit (loss) carried forward -€98,756
down €98,756 (-5.3%), from €1.9m to €1.8m
- Debts within one year -€36,540
down €36,540 (-7.1%), from €512,628 to €476,088
of which Trade debts: -€20,834
- Debts after one year -€31,751
down €31,751 (-11.0%), from €289,893 to €258,142
Income statement
- Gross operating margin -€135,916
down €135,916 (-6.3%), from €2.2m to €2.0m
- Staff costs +€67,988
up €67,988 (+3.6%), from €1.9m to €2.0m
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.
Result 2024
€139,346
Gross operating margin
-€135,916
Staff costs
-€67,988
Depreciation
-€11,971
Other operating charges
-€9,448
Other operating items
-€3,119
Financial income
-€7,752
Financial charges
-€2,213
Taxes
+€306
Result 2025
-€98,756
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€29,378
Investment
-€50,782
Financing
-€23,720
Cash 2024
€405,100
From operations (derived)
+€29,378
Net result for the year
-€98,756
Depreciation
+€118,839
Stocks and contracts
-€4,775
Receivables within one year
+€53,304
Deferred charges and accrued income
+€1,407
Debts within one year
-€36,540
Accrued charges and deferred income
-€4,102
Investment (derived)
-€50,782
Investment in fixed assets (net)
-€50,782
Financing
-€23,720
Debts after one year
-€31,751
Contributions, distributions and other
+€8,031
Cash 2025
€359,976
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,928,282 | €2,765,164 | -€163,118 | -5.6% |
| Fixed assets | 21/28 | €2,060,677 | €1,992,620 | -€68,057 | -3.3% |
| Intangible fixed assets | 21 | €48,868 | €56,273 | +€7,406 | +15.2% |
| Tangible fixed assets | 22/27 | €2,011,310 | €1,935,847 | -€75,463 | -3.8% |
| Land and buildings | 22 | €1,683,713 | €1,623,578 | -€60,135 | -3.6% |
| Plant, machinery and equipment | 23 | €263,226 | €259,911 | -€3,315 | -1.3% |
| Furniture and vehicles | 24 | €64,371 | €52,358 | -€12,013 | -18.7% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €867,604 | €772,544 | -€95,060 | -11.0% |
| Stocks and contracts in progress | 3 | €40,180 | €44,955 | +€4,775 | +11.9% |
| Stocks | 30/36 | €40,180 | €44,955 | +€4,775 | +11.9% |
| Amounts receivable within one year | 40/41 | €419,878 | €366,574 | -€53,304 | -12.7% |
| Trade receivables | 40 | €363,288 | €324,001 | -€39,287 | -10.8% |
| Other amounts receivable | 41 | €56,590 | €42,573 | -€14,017 | -24.8% |
| Cash at bank and in hand | 54/58 | €405,100 | €359,976 | -€45,124 | -11.1% |
| Deferred charges and accrued income | 490/1 | €2,446 | €1,040 | -€1,407 | -57.5% |
| Total equity and liabilities | 10/49 | €2,928,282 | €2,765,164 | -€163,118 | -5.6% |
| Equity | 10/15 | €2,121,658 | €2,030,934 | -€90,724 | -4.3% |
| Contributions | 10/11 | €7,116 | €7,116 | = | 0.0% |
| Capital | 10 | €7,116 | €7,116 | = | 0.0% |
| Reserves | 13 | €95,315 | €95,315 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,879,227 | €1,780,472 | -€98,756 | -5.3% |
| Investment grants | 15 | €140,000 | €148,032 | +€8,031 | +5.7% |
| Amounts payable | 17/49 | €806,623 | €734,230 | -€72,393 | -9.0% |
| Amounts payable after more than one year | 17 | €289,893 | €258,142 | -€31,751 | -11.0% |
| Financial debts | 170/4 | €289,893 | €258,142 | -€31,751 | -11.0% |
| Amounts payable within one year | 42/48 | €512,628 | €476,088 | -€36,540 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €30,606 | €31,751 | +€1,145 | +3.7% |
| Trade debts | 44 | €103,939 | €83,105 | -€20,834 | -20.0% |
| Suppliers | 440/4 | €103,939 | €83,105 | -€20,834 | -20.0% |
| Taxes, remuneration and social security | 45 | €367,327 | €350,902 | -€16,426 | -4.5% |
| Taxes | 450/3 | €78,271 | €67,999 | -€10,272 | -13.1% |
| Remuneration and social security | 454/9 | €289,057 | €282,903 | -€6,154 | -2.1% |
| Accrued charges and deferred income | 492/3 | €4,102 | €0 | -€4,102 | -100% |
| Non-recurring operating income | 76A | - | €881 | +€881 | |
| Remuneration, social security and pensions | 62 | €1,914,236 | €1,982,225 | +€67,988 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,868 | €118,839 | +€11,971 | +11.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,929 | €11,377 | +€9,448 | +490% |
| Non-recurring operating charges | 66A | - | €3,119 | +€3,119 | |
| Gross operating margin | 9900 | €2,165,889 | €2,029,973 | -€135,916 | -6.3% |
| Operating profit (loss) | 9901 | €142,855 | -€85,587 | -€228,442 | |
| Financial income | 75/76B | €10,109 | €2,357 | -€7,752 | -76.7% |
| Recurring financial income | 75 | €10,109 | €2,357 | -€7,752 | -76.7% |
| Financial charges | 65/66B | €13,213 | €15,426 | +€2,213 | +16.7% |
| Recurring financial charges | 65 | €13,213 | €15,426 | +€2,213 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | €139,751 | -€98,657 | -€238,408 | |
| Income taxes | 67/77 | €405 | €99 | -€306 | -75.5% |
| Profit (loss) for the period | 9904 | €139,346 | -€98,756 | -€238,102 | |
| Profit (loss) for the period to be appropriated | 9905 | €139,346 | -€98,756 | -€238,102 |
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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 2 November 2026 via checked.be.