DEX & DAELEN: 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.
DEX & DAELEN
Largest movements
- Tangible fixed assets +€54,637
up €54,637 (+5.9%), from €926,466 to €981,103
of which Land and buildings: +€62,408
- Cash +€19,253
up €19,253 (+54.2%), from €35,519 to €54,771
mainly Depreciation (+€111,775) and Other debts (+€61,642)
- Other debts +€61,642
up €61,642 (+239%), from €25,789 to €87,431
- Trade debts +€58,824
up €58,824 (+827%), from €7,116 to €65,940
- Reserves -€45,000
down €45,000 (-28.9%), from €155,860 to €110,860
- Tax, wage and social debts -€23,945
no longer reported in 2025 (was €23,945)
- Current portion of long-term debt +€21,702
up €21,702 (+27.0%), from €80,398 to €102,101
- Depreciation +€22,975
up €22,975 (+25.9%), from €88,800 to €111,775
- Taxes -€10,203
down €10,203 (-43.5%), from €23,465 to €13,262
- Gross operating margin -€8,297
down €8,297 (-4.7%), from €175,907 to €167,610
- Financial charges +€2,765
up €2,765 (+19.0%), from €14,570 to €17,335
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 | €1,033,575 | €1,107,888 | +€74,313 | +7.2% |
| Fixed assets | 21/28 | €929,687 | €982,413 | +€52,726 | +5.7% |
| Intangible fixed assets | 21 | €3,171 | €1,260 | -€1,911 | -60.3% |
| Tangible fixed assets | 22/27 | €926,466 | €981,103 | +€54,637 | +5.9% |
| Land and buildings | 22 | €828,318 | €890,726 | +€62,408 | +7.5% |
| Plant, machinery and equipment | 23 | €654 | €1,956 | +€1,302 | +199% |
| Furniture and vehicles | 24 | €97,494 | €88,421 | -€9,073 | -9.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €103,888 | €125,475 | +€21,587 | +20.8% |
| Amounts receivable within one year | 40/41 | €61,919 | €64,908 | +€2,989 | +4.8% |
| Trade receivables | 40 | €32,000 | €45,000 | +€13,000 | +40.6% |
| Other amounts receivable | 41 | €29,919 | €19,908 | -€10,011 | -33.5% |
| Cash at bank and in hand | 54/58 | €35,519 | €54,771 | +€19,253 | +54.2% |
| Deferred charges and accrued income | 490/1 | €6,450 | €5,796 | -€655 | -10.1% |
| Total equity and liabilities | 10/49 | €1,033,575 | €1,107,888 | +€74,313 | +7.2% |
| Equity | 10/15 | €87,690 | €43,083 | -€44,607 | -50.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €155,860 | €110,860 | -€45,000 | -28.9% |
| Distributable reserves | 133 | €155,860 | €110,860 | -€45,000 | -28.9% |
| Profit (loss) carried forward | 14 | -€86,770 | -€86,377 | +€393 | +0.5% |
| Amounts payable | 17/49 | €945,885 | €1,064,805 | +€118,920 | +12.6% |
| Amounts payable after more than one year | 17 | €808,137 | €809,334 | +€1,196 | +0.1% |
| Financial debts | 170/4 | €808,137 | €809,334 | +€1,196 | +0.1% |
| Amounts payable within one year | 42/48 | €137,248 | €255,472 | +€118,224 | +86.1% |
| Current portion of amounts payable after more than one year | 42 | €80,398 | €102,101 | +€21,702 | +27.0% |
| Trade debts | 44 | €7,116 | €65,940 | +€58,824 | +827% |
| Suppliers | 440/4 | €7,116 | €65,940 | +€58,824 | +827% |
| Taxes, remuneration and social security | 45 | €23,945 | - | -€23,945 | |
| Taxes | 450/3 | €23,945 | - | -€23,945 | |
| Other amounts payable | 47/48 | €25,789 | €87,431 | +€61,642 | +239% |
| Accrued charges and deferred income | 492/3 | €500 | - | -€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,800 | €111,775 | +€22,975 | +25.9% |
| Other operating charges | 640/8 | €1,081 | €1,208 | +€127 | +11.7% |
| Gross operating margin | 9900 | €175,907 | €167,610 | -€8,297 | -4.7% |
| Operating profit (loss) | 9901 | €86,026 | €54,628 | -€31,398 | -36.5% |
| Financial income | 75/76B | €575 | €1,363 | +€788 | +137% |
| Recurring financial income | 75 | €575 | €1,363 | +€788 | +137% |
| Financial charges | 65/66B | €14,570 | €17,335 | +€2,765 | +19.0% |
| Recurring financial charges | 65 | €14,570 | €17,335 | +€2,765 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | €72,031 | €38,655 | -€33,375 | -46.3% |
| Income taxes | 67/77 | €23,465 | €13,262 | -€10,203 | -43.5% |
| Profit (loss) for the period | 9904 | €48,566 | €25,393 | -€23,173 | -47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €48,566 | €25,393 | -€23,173 | -47.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.