DG MGMT: what changed
Two fiscal 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.
DG MGMT
Largest movements
- Receivables within one year +€93,862
up €93,862 (+3356.5%), from €2,796 to €96,658
of which Trade receivables: +€64,766
- Cash +€73,924
up €73,924 (+737.2%), from €10,028 to €83,951
mainly Net result for the year (+€196,876) and Other debts (+€133,600)
- Tangible fixed assets -€42,115
down €42,115 (-95.3%), from €44,210 to €2,094
- Financial fixed assets -€16,279
down €16,279 (-16.0%), from €101,704 to €85,425
- Other debts +€133,600
up €133,600 (+424.9%), from €31,441 to €165,041
- Debts after one year -€33,199
no longer reported in 2025 (was €33,199)
- Reserves +€31,836
up €31,836 (+46.7%), from €68,164 to €100,000
- Current portion of long-term debt -€19,368
no longer reported in 2025 (was €19,368)
- Trade debts -€4,921
down €4,921 (-87.4%), from €5,631 to €710
- Gross operating margin +€184,962
up €184,962 (+226.1%), from €81,820 to €266,783
- Taxes +€56,083
up €56,083 (+527.0%), from €10,643 to €66,726
- Financial income -€43,962
down €43,962 (-81.0%), from €54,263 to €10,301
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 | €159,803 | €268,850 | +€109,047 | +68.2% |
| Formation expenses | 20 | €722 | €498 | -€225 | -31.1% |
| Fixed assets | 21/28 | €145,914 | €87,519 | -€58,395 | -40.0% |
| Tangible fixed assets | 22/27 | €44,210 | €2,094 | -€42,115 | -95.3% |
| Furniture and vehicles | 24 | €44,210 | €2,094 | -€42,115 | -95.3% |
| Financial fixed assets | 28 | €101,704 | €85,425 | -€16,279 | -16.0% |
| Current assets | 29/58 | €13,167 | €180,833 | +€167,666 | +1273.4% |
| Amounts receivable within one year | 40/41 | €2,796 | €96,658 | +€93,862 | +3356.5% |
| Trade receivables | 40 | - | €64,766 | +€64,766 | |
| Other amounts receivable | 41 | €2,796 | €31,892 | +€29,096 | +1040.5% |
| Cash at bank and in hand | 54/58 | €10,028 | €83,951 | +€73,924 | +737.2% |
| Deferred charges and accrued income | 490/1 | €343 | €224 | -€120 | -34.8% |
| Total equity and liabilities | 10/49 | €159,803 | €268,850 | +€109,047 | +68.2% |
| Equity | 10/15 | €70,164 | €102,000 | +€31,836 | +45.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | €2,000 | = | 0.0% |
| Issued capital | 100 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €68,164 | €100,000 | +€31,836 | +46.7% |
| Distributable reserves | 133 | €68,164 | €100,000 | +€31,836 | +46.7% |
| Amounts payable | 17/49 | €89,639 | €166,850 | +€77,211 | +86.1% |
| Amounts payable after more than one year | 17 | €33,199 | - | -€33,199 | |
| Financial debts | 170/4 | €33,199 | - | -€33,199 | |
| Amounts payable within one year | 42/48 | €56,440 | €166,850 | +€110,411 | +195.6% |
| Current portion of amounts payable after more than one year | 42 | €19,368 | - | -€19,368 | |
| Trade debts | 44 | €5,631 | €710 | -€4,921 | -87.4% |
| Suppliers | 440/4 | €5,631 | €710 | -€4,921 | -87.4% |
| Taxes, remuneration and social security | 45 | - | €1,100 | +€1,100 | |
| Remuneration and social security | 454/9 | - | €1,100 | +€1,100 | |
| Other amounts payable | 47/48 | €31,441 | €165,041 | +€133,600 | +424.9% |
| Remuneration, social security and pensions | 62 | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,789 | €9,512 | -€277 | -2.8% |
| Other operating charges | 640/8 | €1,600 | €377 | -€1,223 | -76.4% |
| Gross operating margin | 9900 | €81,820 | €266,783 | +€184,962 | +226.1% |
| Operating profit (loss) | 9901 | €70,432 | €256,644 | +€186,213 | +264.4% |
| Financial income | 75/76B | €54,263 | €10,301 | -€43,962 | -81.0% |
| Recurring financial income | 75 | €54,263 | €10,301 | -€43,962 | -81.0% |
| Financial charges | 65/66B | €3,936 | €3,343 | -€592 | -15.1% |
| Recurring financial charges | 65 | €3,936 | €3,343 | -€592 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €120,759 | €263,602 | +€142,843 | +118.3% |
| Income taxes | 67/77 | €10,643 | €66,726 | +€56,083 | +527.0% |
| Profit (loss) for the period | 9904 | €110,117 | €196,876 | +€86,760 | +78.8% |
| Profit (loss) for the period to be appropriated | 9905 | €110,117 | €196,876 | +€86,760 | +78.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.