DEN DRAAD: 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.
DEN DRAAD
Largest movements
- Current investments +€65,000
up €65,000, from €0 to €65,000
- Cash -€28,243
down €28,243 (-27.5%), from €102,727 to €74,483
mainly Current investments (-€65,000) and Investment in fixed assets (net) (-€27,640)
- Tangible fixed assets +€17,493
up €17,493 (+55.7%), from €31,389 to €48,882
of which Furniture and vehicles: +€9,908
- Receivables within one year -€8,943
down €8,943 (-76.9%), from €11,635 to €2,693
of which Trade receivables: -€5,446
- Stocks and contracts +€2,658
up €2,658 (+25.2%), from €10,532 to €13,190
- Reserves +€45,881
up €45,881 (+51.1%), from €89,824 to €135,705
- Tax, wage and social debts +€10,069
up €10,069 (+57.6%), from €17,494 to €27,563
- Advances received -€5,656
down €5,656 (-100%), from €5,656 to €0
- Trade debts -€3,130
down €3,130 (-21.5%), from €14,575 to €11,445
- Depreciation +€5,588
up €5,588 (+85.2%), from €6,560 to €12,147
- Gross operating margin -€5,438
down €5,438 (-5.8%), from €93,421 to €87,983
- Taxes -€2,838
down €2,838 (-11.2%), from €25,330 to €22,492
- Financial charges -€1,713
down €1,713 (-58.0%), from €2,952 to €1,239
- Staff costs +€1,376
up €1,376 (+84.2%), from €1,635 to €3,012
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 | €159,243 | €204,988 | +€45,745 | +28.7% |
| Fixed assets | 21/28 | €33,389 | €48,882 | +€15,493 | +46.4% |
| Tangible fixed assets | 22/27 | €31,389 | €48,882 | +€17,493 | +55.7% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €10,768 | €18,027 | +€7,258 | +67.4% |
| Furniture and vehicles | 24 | €17,946 | €27,855 | +€9,908 | +55.2% |
| Other tangible fixed assets | 26 | €2,675 | €3,001 | +€327 | +12.2% |
| Financial fixed assets | 28 | €2,000 | €0 | -€2,000 | -100% |
| Current assets | 29/58 | €125,853 | €156,106 | +€30,252 | +24.0% |
| Stocks and contracts in progress | 3 | €10,532 | €13,190 | +€2,658 | +25.2% |
| Stocks | 30/36 | €10,532 | €13,190 | +€2,658 | +25.2% |
| Amounts receivable within one year | 40/41 | €11,635 | €2,693 | -€8,943 | -76.9% |
| Trade receivables | 40 | €6,458 | €1,012 | -€5,446 | -84.3% |
| Other amounts receivable | 41 | €5,177 | €1,681 | -€3,496 | -67.5% |
| Current investments | 50/53 | €0 | €65,000 | +€65,000 | |
| Cash at bank and in hand | 54/58 | €102,727 | €74,483 | -€28,243 | -27.5% |
| Deferred charges and accrued income | 490/1 | €959 | €739 | -€220 | -22.9% |
| Total equity and liabilities | 10/49 | €159,243 | €204,988 | +€45,745 | +28.7% |
| Equity | 10/15 | €108,424 | €154,305 | +€45,881 | +42.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €89,824 | €135,705 | +€45,881 | +51.1% |
| Distributable reserves | 133 | €89,824 | €135,705 | +€45,881 | +51.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €50,818 | €50,683 | -€136 | -0.3% |
| Amounts payable within one year | 42/48 | €50,818 | €50,683 | -€136 | -0.3% |
| Trade debts | 44 | €14,575 | €11,445 | -€3,130 | -21.5% |
| Suppliers | 440/4 | €14,575 | €11,445 | -€3,130 | -21.5% |
| Advances received on contracts in progress | 46 | €5,656 | €0 | -€5,656 | -100% |
| Taxes, remuneration and social security | 45 | €17,494 | €27,563 | +€10,069 | +57.6% |
| Taxes | 450/3 | €17,494 | €27,563 | +€10,069 | +57.6% |
| Other amounts payable | 47/48 | €13,093 | €11,675 | -€1,418 | -10.8% |
| Remuneration, social security and pensions | 62 | €1,635 | €3,012 | +€1,376 | +84.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,560 | €12,147 | +€5,588 | +85.2% |
| Other operating charges | 640/8 | €2,580 | €3,055 | +€475 | +18.4% |
| Non-recurring operating charges | 66A | €1,450 | €0 | -€1,450 | -100% |
| Gross operating margin | 9900 | €93,421 | €87,983 | -€5,438 | -5.8% |
| Operating profit (loss) | 9901 | €81,197 | €69,769 | -€11,427 | -14.1% |
| Financial income | 75/76B | €256 | €676 | +€420 | +164% |
| Recurring financial income | 75 | €256 | €676 | +€420 | +164% |
| Financial charges | 65/66B | €2,952 | €1,239 | -€1,713 | -58.0% |
| Recurring financial charges | 65 | €2,952 | €1,239 | -€1,713 | -58.0% |
| Profit (loss) for the period before taxes | 9903 | €78,501 | €69,206 | -€9,295 | -11.8% |
| Income taxes | 67/77 | €25,330 | €22,492 | -€2,838 | -11.2% |
| Profit (loss) for the period | 9904 | €53,171 | €46,714 | -€6,457 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €53,171 | €46,714 | -€6,457 | -12.1% |
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 26 October 2026 via checked.be.