DGAP: 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.
DGAP
Largest movements
- Cash -€190,449
down €190,449 (-48.9%), from €389,473 to €199,023
mainly Other debts (-€186,092) and Contributions, distributions and other (-€120,000)
- Tangible fixed assets +€6,117
up €6,117 (+2612.3%), from €234 to €6,352
- Receivables within one year +€5,201
up €5,201 (+555.4%), from €936 to €6,137
of which Other amounts receivable: +€5,299
- Other debts -€186,092
down €186,092 (-97.9%), from €190,000 to €3,908
- Profit (loss) carried forward +€14,219
up €14,219 (+6.7%), from €211,438 to €225,657
- Tax, wage and social debts -€6,872
down €6,872 (-77.7%), from €8,838 to €1,967
of which Taxes: -€6,838
- Gross operating margin -€15,045
down €15,045 (-7.9%), from €189,831 to €174,786
- Taxes -€4,994
down €4,994 (-11.4%), from €43,928 to €38,934
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 | €416,488 | €235,913 | -€180,575 | -43.4% |
| Fixed assets | 21/28 | €234 | €6,352 | +€6,117 | +2612.3% |
| Tangible fixed assets | 22/27 | €234 | €6,352 | +€6,117 | +2612.3% |
| Furniture and vehicles | 24 | €234 | €6,352 | +€6,117 | +2612.3% |
| Current assets | 29/58 | €416,254 | €229,561 | -€186,693 | -44.9% |
| Amounts receivable within one year | 40/41 | €936 | €6,137 | +€5,201 | +555.4% |
| Trade receivables | 40 | €170 | €71 | -€99 | -58.3% |
| Other amounts receivable | 41 | €767 | €6,066 | +€5,299 | +691.2% |
| Cash at bank and in hand | 54/58 | €389,473 | €199,023 | -€190,449 | -48.9% |
| Deferred charges and accrued income | 490/1 | €25,845 | €24,401 | -€1,444 | -5.6% |
| Total equity and liabilities | 10/49 | €416,488 | €235,913 | -€180,575 | -43.4% |
| Equity | 10/15 | €213,938 | €228,157 | +€14,219 | +6.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €211,438 | €225,657 | +€14,219 | +6.7% |
| Amounts payable | 17/49 | €202,551 | €7,756 | -€194,795 | -96.2% |
| Amounts payable within one year | 42/48 | €202,551 | €7,460 | -€195,091 | -96.3% |
| Trade debts | 44 | €3,712 | €1,586 | -€2,127 | -57.3% |
| Suppliers | 440/4 | €3,712 | €1,586 | -€2,127 | -57.3% |
| Taxes, remuneration and social security | 45 | €8,838 | €1,967 | -€6,872 | -77.7% |
| Taxes | 450/3 | €6,838 | - | -€6,838 | |
| Remuneration and social security | 454/9 | €2,000 | €1,967 | -€34 | -1.7% |
| Other amounts payable | 47/48 | €190,000 | €3,908 | -€186,092 | -97.9% |
| Accrued charges and deferred income | 492/3 | - | €296 | +€296 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90 | €883 | +€793 | +880.7% |
| Other operating charges | 640/8 | €408 | €579 | +€171 | +41.9% |
| Non-recurring operating charges | 66A | €165 | €130 | -€35 | -21.2% |
| Gross operating margin | 9900 | €189,831 | €174,786 | -€15,045 | -7.9% |
| Operating profit (loss) | 9901 | €189,168 | €173,194 | -€15,974 | -8.4% |
| Financial income | 75/76B | €135 | €24 | -€111 | -82.3% |
| Recurring financial income | 75 | €135 | €24 | -€111 | -82.3% |
| Financial charges | 65/66B | €47 | €65 | +€18 | +39.1% |
| Recurring financial charges | 65 | €47 | €65 | +€18 | +39.1% |
| Profit (loss) for the period before taxes | 9903 | €189,256 | €173,153 | -€16,103 | -8.5% |
| Income taxes | 67/77 | €43,928 | €38,934 | -€4,994 | -11.4% |
| Profit (loss) for the period | 9904 | €145,328 | €134,219 | -€11,109 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €145,328 | €134,219 | -€11,109 | -7.6% |
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 29 September 2026 via checked.be.