DK-INVEST: 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
DK-INVEST
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€13,022
2024 · €14,744-€27,767
Equity
€2.7m
2024 · €2.7m-€13,022
Cash
€129,855
2024 · €143,108-€13,253
Balance sheet total
€3.4m
2024 · €4.2m-€834,948
Largest movements
Assets
- Receivables after one year -€675,314
down €675,314 (-26.6%), from €2.5m to €1.9m
- Stocks and contracts -€147,902
down €147,902 (-32.2%), from €459,583 to €311,680
Equity and liabilities
- Other debts -€724,805
down €724,805 (-72.1%), from €1.0m to €279,921
- Trade debts -€115,599
down €115,599 (-81.0%), from €142,686 to €27,087
Income statement
- Gross operating margin -€115,578
down €115,578 (-67.9%), from €170,242 to €54,664
- Financial charges -€82,567
down €82,567 (-62.4%), from €132,250 to €49,682
- Taxes -€8,005
down €8,005 (-100%), from €8,005 to €0
- Depreciation +€5,388
up €5,388 (+88.3%), from €6,100 to €11,488
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
€14,744
Gross operating margin
-€115,578
Depreciation
-€5,388
Other operating charges
+€1,161
Financial income
+€1,466
Financial charges
+€82,567
Taxes
+€8,005
Result 2025
-€13,022
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
+€21,493
Investment
-€53,190
Financing
+€18,443
Cash 2024
€143,108
From operations (derived)
+€21,493
Net result for the year
-€13,022
Depreciation
+€11,488
Receivables after one year
+€675,314
Stocks and contracts
+€147,902
Receivables within one year
+€41,421
Smaller working-capital items
-€1,206
Trade debts
-€115,599
Other debts
-€724,805
Investment (derived)
-€53,190
Investment in fixed assets (net)
-€53,190
Financing
+€18,443
Debts after one year
-€15,681
Current portion of long-term debt
+€34,124
Cash 2025
€129,855
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,193,768 | €3,358,820 | -€834,948 | -19.9% |
| Fixed assets | 21/28 | €15,254 | €56,956 | +€41,702 | +273% |
| Tangible fixed assets | 22/27 | €15,254 | €56,956 | +€41,702 | +273% |
| Plant, machinery and equipment | 23 | €15,254 | €9,154 | -€6,100 | -40.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | - | €47,802 | +€47,802 | |
| Current assets | 29/58 | €4,178,514 | €3,301,864 | -€876,650 | -21.0% |
| Amounts receivable after more than one year | 29 | €2,539,246 | €1,863,932 | -€675,314 | -26.6% |
| Other amounts receivable | 291 | €2,539,246 | €1,863,932 | -€675,314 | -26.6% |
| Stocks and contracts in progress | 3 | €459,583 | €311,680 | -€147,902 | -32.2% |
| Stocks | 30/36 | €459,583 | €311,680 | -€147,902 | -32.2% |
| Amounts receivable within one year | 40/41 | €1,028,304 | €986,883 | -€41,421 | -4.0% |
| Trade receivables | 40 | €126,984 | €66,991 | -€59,993 | -47.2% |
| Other amounts receivable | 41 | €901,321 | €919,892 | +€18,571 | +2.1% |
| Cash at bank and in hand | 54/58 | €143,108 | €129,855 | -€13,253 | -9.3% |
| Deferred charges and accrued income | 490/1 | €8,273 | €9,514 | +€1,241 | +15.0% |
| Total equity and liabilities | 10/49 | €4,193,768 | €3,358,820 | -€834,948 | -19.9% |
| Equity | 10/15 | €2,712,454 | €2,699,432 | -€13,022 | -0.5% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €2,587,454 | €2,574,432 | -€13,022 | -0.5% |
| Distributable reserves | 133 | €2,587,454 | €2,574,432 | -€13,022 | -0.5% |
| Amounts payable | 17/49 | €1,481,314 | €659,388 | -€821,926 | -55.5% |
| Amounts payable after more than one year | 17 | €50,569 | €34,888 | -€15,681 | -31.0% |
| Financial debts | 170/4 | €50,569 | €34,888 | -€15,681 | -31.0% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,430,745 | €624,500 | -€806,245 | -56.4% |
| Current portion of amounts payable after more than one year | 42 | €26,722 | €60,846 | +€34,124 | +128% |
| Financial debts | 43 | €250,000 | €250,000 | = | 0.0% |
| Credit institutions | 430/8 | €250,000 | €250,000 | = | 0.0% |
| Trade debts | 44 | €142,686 | €27,087 | -€115,599 | -81.0% |
| Suppliers | 440/4 | €142,686 | €27,087 | -€115,599 | -81.0% |
| Taxes, remuneration and social security | 45 | €6,611 | €6,646 | +€35 | +0.5% |
| Taxes | 450/3 | €6,611 | €6,646 | +€35 | +0.5% |
| Other amounts payable | 47/48 | €1,004,726 | €279,921 | -€724,805 | -72.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €6,494 | €0 | -€6,494 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,100 | €11,488 | +€5,388 | +88.3% |
| Other operating charges | 640/8 | €9,774 | €8,613 | -€1,161 | -11.9% |
| Gross operating margin | 9900 | €170,242 | €54,664 | -€115,578 | -67.9% |
| Operating profit (loss) | 9901 | €154,368 | €34,563 | -€119,804 | -77.6% |
| Financial income | 75/76B | €632 | €2,097 | +€1,466 | +232% |
| Recurring financial income | 75 | €632 | €2,097 | +€1,466 | +232% |
| Financial charges | 65/66B | €132,250 | €49,682 | -€82,567 | -62.4% |
| Recurring financial charges | 65 | €132,250 | €49,682 | -€82,567 | -62.4% |
| Profit (loss) for the period before taxes | 9903 | €22,750 | -€13,022 | -€35,772 | |
| Income taxes | 67/77 | €8,005 | €0 | -€8,005 | -100% |
| Profit (loss) for the period | 9904 | €14,744 | -€13,022 | -€27,767 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,744 | -€13,022 | -€27,767 |
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 18 October 2026 via checked.be.