DGA Management: 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.
DGA Management
Largest movements
- Receivables within one year -€360,823
down €360,823 (-71.6%), from €503,717 to €142,894
of which Other amounts receivable: -€388,398
- Cash -€56,050
down €56,050 (-88.1%), from €63,613 to €7,564
mainly Net result for the year (-€340,396) and Debts after one year (-€139,997)
- Tangible fixed assets -€40,381
down €40,381 (-4.7%), from €864,812 to €824,432
of which Land and buildings: -€33,167
- Profit (loss) carried forward -€338,953
down €338,953 (-66.2%), from €511,986 to €173,033
- Debts after one year -€139,997
down €139,997 (-19.3%), from €724,131 to €584,134
- Write-downs +€388,300
new in 2025: €388,300
- Gross operating margin +€33,132
up €33,132 (+25.7%), from €128,977 to €162,109
- Taxes +€12,257
up €12,257 (+97.1%), from €12,630 to €24,887
- Financial charges +€4,054
up €4,054 (+16.3%), from €24,871 to €28,925
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 | €1,460,111 | €992,272 | -€467,839 | -32.0% |
| Fixed assets | 21/28 | €864,812 | €824,432 | -€40,381 | -4.7% |
| Tangible fixed assets | 22/27 | €864,812 | €824,432 | -€40,381 | -4.7% |
| Land and buildings | 22 | €854,829 | €821,663 | -€33,167 | -3.9% |
| Furniture and vehicles | 24 | €9,983 | €2,769 | -€7,214 | -72.3% |
| Current assets | 29/58 | €595,298 | €167,840 | -€427,458 | -71.8% |
| Stocks and contracts in progress | 3 | €25,149 | €15,438 | -€9,711 | -38.6% |
| Stocks | 30/36 | €25,149 | €15,438 | -€9,711 | -38.6% |
| Amounts receivable within one year | 40/41 | €503,717 | €142,894 | -€360,823 | -71.6% |
| Trade receivables | 40 | - | €27,575 | +€27,575 | |
| Other amounts receivable | 41 | €503,717 | €115,319 | -€388,398 | -77.1% |
| Cash at bank and in hand | 54/58 | €63,613 | €7,564 | -€56,050 | -88.1% |
| Deferred charges and accrued income | 490/1 | €2,819 | €1,944 | -€875 | -31.0% |
| Total equity and liabilities | 10/49 | €1,460,111 | €992,272 | -€467,839 | -32.0% |
| Equity | 10/15 | €554,818 | €214,422 | -€340,396 | -61.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,232 | €22,789 | -€1,443 | -6.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,372 | €20,929 | -€1,443 | -6.5% |
| Profit (loss) carried forward | 14 | €511,986 | €173,033 | -€338,953 | -66.2% |
| Provisions and deferred taxes | 16 | €11,520 | €10,777 | -€743 | -6.5% |
| Deferred taxes | 168 | €11,520 | €10,777 | -€743 | -6.5% |
| Amounts payable | 17/49 | €893,773 | €767,073 | -€126,700 | -14.2% |
| Amounts payable after more than one year | 17 | €724,131 | €584,134 | -€139,997 | -19.3% |
| Financial debts | 170/4 | €724,131 | €584,134 | -€139,997 | -19.3% |
| Amounts payable within one year | 42/48 | €169,517 | €182,073 | +€12,556 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €134,994 | €139,997 | +€5,002 | +3.7% |
| Trade debts | 44 | €253 | €162 | -€90 | -35.7% |
| Suppliers | 440/4 | €253 | €162 | -€90 | -35.7% |
| Taxes, remuneration and social security | 45 | €26,205 | €32,525 | +€6,320 | +24.1% |
| Taxes | 450/3 | €26,205 | €32,525 | +€6,320 | +24.1% |
| Other amounts payable | 47/48 | €8,065 | €9,389 | +€1,324 | +16.4% |
| Accrued charges and deferred income | 492/3 | €125 | €866 | +€741 | +593% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,976 | €51,578 | +€602 | +1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €388,300 | +€388,300 | |
| Other operating charges | 640/8 | €10,207 | €10,323 | +€117 | +1.1% |
| Gross operating margin | 9900 | €128,977 | €162,109 | +€33,132 | +25.7% |
| Operating profit (loss) | 9901 | €67,794 | -€288,093 | -€355,887 | |
| Financial income | 75/76B | €8 | €767 | +€758 | +9,014% |
| Recurring financial income | 75 | €8 | €767 | +€758 | +9,014% |
| Financial charges | 65/66B | €24,871 | €28,925 | +€4,054 | +16.3% |
| Recurring financial charges | 65 | €24,871 | €28,925 | +€4,054 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €42,932 | -€316,252 | -€359,184 | |
| Transfer from deferred taxes | 780 | €743 | €743 | = | 0.0% |
| Income taxes | 67/77 | €12,630 | €24,887 | +€12,257 | +97.1% |
| Profit (loss) for the period | 9904 | €31,045 | -€340,396 | -€371,441 | |
| Transfer from tax-exempt reserves | 789 | €1,443 | €1,443 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,489 | -€338,953 | -€371,441 |
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 15 October 2026 via checked.be.