DGL: 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.
What changed
DGL
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€269,832
2024 · €202,141+€67,691
Equity
€917,786
2024 · €647,954+€269,832
Cash
€13,967
2024 · €9,424+€4,543
Balance sheet total
€4.2m
2024 · €4.4m-€172,291
Largest movements
Assets
- Tangible fixed assets -€188,759
down €188,759 (-4.3%), from €4.4m to €4.2m
of which Land and buildings: -€182,937
Equity and liabilities
- Debts after one year -€300,000
down €300,000 (-9.1%), from €3.3m to €3.0m
- Profit (loss) carried forward +€269,832
up €269,832 (+46.5%), from €579,754 to €849,586
- Current portion of long-term debt -€142,500
down €142,500 (-32.2%), from €442,500 to €300,000
Income statement
- Depreciation -€58,973
down €58,973 (-23.8%), from €247,732 to €188,759
- Financial charges -€46,981
down €46,981 (-50.2%), from €93,677 to €46,696
of which Financial charges: -€49,545
- Write-downs +€18,578
new in 2025: €18,578
- Taxes +€17,125
up €17,125 (+23.5%), from €72,819 to €89,944
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.
Result 2024
€202,141
Gross operating margin
+€2,490
Depreciation
+€58,973
Write-downs
-€18,578
Other operating charges
-€5,123
Financial income
+€73
Financial charges
+€46,981
Taxes
-€17,125
Result 2025
€269,832
raises the resultlowers the result
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.
From operations
+€447,043
Investment
€0
Financing
-€442,500
Cash 2024
€9,424
From operations (derived)
+€447,043
Net result for the year
+€269,832
Depreciation
+€188,759
Receivables within one year
-€16,834
Deferred charges and accrued income
+€4,909
Trade debts
-€1,061
Tax, wage and social debts
-€2,680
Advances received
+€4,118
Financing
-€442,500
Debts after one year
-€300,000
Current portion of long-term debt
-€142,500
Cash 2025
€13,967
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,413,228 | €4,240,937 | -€172,291 | -3.9% |
| Fixed assets | 21/28 | €4,357,982 | €4,169,224 | -€188,759 | -4.3% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €4,357,982 | €4,169,224 | -€188,759 | -4.3% |
| Land and buildings | 22 | €4,323,248 | €4,140,311 | -€182,937 | -4.2% |
| Plant, machinery and equipment | 23 | €34,734 | €28,912 | -€5,822 | -16.8% |
| Current assets | 29/58 | €55,245 | €71,713 | +€16,468 | +29.8% |
| Amounts receivable within one year | 40/41 | €38,686 | €55,520 | +€16,834 | +43.5% |
| Trade receivables | 40 | €37,938 | €53,737 | +€15,799 | +41.6% |
| Other amounts receivable | 41 | €748 | €1,783 | +€1,036 | +139% |
| Cash at bank and in hand | 54/58 | €9,424 | €13,967 | +€4,543 | +48.2% |
| Deferred charges and accrued income | 490/1 | €7,135 | €2,226 | -€4,909 | -68.8% |
| Total equity and liabilities | 10/49 | €4,413,228 | €4,240,937 | -€172,291 | -3.9% |
| Equity | 10/15 | €647,954 | €917,786 | +€269,832 | +41.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €579,754 | €849,586 | +€269,832 | +46.5% |
| Amounts payable | 17/49 | €3,765,274 | €3,323,151 | -€442,123 | -11.7% |
| Amounts payable after more than one year | 17 | €3,300,000 | €3,000,000 | -€300,000 | -9.1% |
| Financial debts | 170/4 | €3,300,000 | €3,000,000 | -€300,000 | -9.1% |
| Amounts payable within one year | 42/48 | €463,205 | €321,083 | -€142,123 | -30.7% |
| Current portion of amounts payable after more than one year | 42 | €442,500 | €300,000 | -€142,500 | -32.2% |
| Trade debts | 44 | €5,889 | €4,828 | -€1,061 | -18.0% |
| Suppliers | 440/4 | €5,889 | €4,828 | -€1,061 | -18.0% |
| Advances received on contracts in progress | 46 | €6,997 | €11,116 | +€4,118 | +58.9% |
| Taxes, remuneration and social security | 45 | €7,819 | €5,139 | -€2,680 | -34.3% |
| Taxes | 450/3 | €7,819 | €5,139 | -€2,680 | -34.3% |
| Accrued charges and deferred income | 492/3 | €2,069 | €2,069 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €247,732 | €188,759 | -€58,973 | -23.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €18,578 | +€18,578 | |
| Other operating charges | 640/8 | €57,617 | €62,740 | +€5,123 | +8.9% |
| Gross operating margin | 9900 | €673,974 | €676,464 | +€2,490 | +0.4% |
| Operating profit (loss) | 9901 | €368,626 | €406,387 | +€37,762 | +10.2% |
| Financial income | 75/76B | €12 | €84 | +€73 | +627% |
| Recurring financial income | 75 | €12 | €84 | +€73 | +627% |
| Financial charges | 65/66B | €93,677 | €46,696 | -€46,981 | -50.2% |
| Recurring financial charges | 65 | €93,677 | €44,132 | -€49,545 | -52.9% |
| Non-recurring financial charges | 66B | - | €2,564 | +€2,564 | |
| Profit (loss) for the period before taxes | 9903 | €274,960 | €359,776 | +€84,816 | +30.8% |
| Income taxes | 67/77 | €72,819 | €89,944 | +€17,125 | +23.5% |
| Profit (loss) for the period | 9904 | €202,141 | €269,832 | +€67,691 | +33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €202,141 | €269,832 | +€67,691 | +33.5% |
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.