Dkor: 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.
Dkor
Largest movements
- Receivables within one year +€66,900
up €66,900 (+204.4%), from €32,734 to €99,633
of which Trade receivables: +€55,628
- Stocks and contracts -€39,214
down €39,214 (-91.6%), from €42,800 to €3,586
of which Contracts in progress: -€36,220
- Cash +€38,129
up €38,129 (+535.5%), from €7,120 to €45,249
mainly Net result for the year (+€70,186) and Stocks and contracts (+€39,214)
- Tangible fixed assets -€3,069
down €3,069 (-11.3%), from €27,044 to €23,975
of which Land and buildings: -€2,430
- Other debts +€38,250
new in 2025: €38,250
- Profit (loss) carried forward +€25,186
up €25,186, from -€20,398 to €4,788
- Tax, wage and social debts +€8,260
up €8,260 (+27.5%), from €30,019 to €38,279
of which Taxes: +€8,458
- Current portion of long-term debt -€5,117
no longer reported in 2025 (was €5,117)
- Trade debts -€3,398
down €3,398 (-21.2%), from €16,022 to €12,624
- Gross operating margin +€124,052
up €124,052 (+226.5%), from €54,768 to €178,820
- Staff costs +€38,126
up €38,126 (+84.8%), from €44,985 to €83,112
- Taxes +€14,240
up €14,240 (+3014.1%), from €472 to €14,713
- Financial charges -€8,404
down €8,404 (-72.6%), from €11,582 to €3,178
of which Non-recurring financial charges: -€8,901
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 | €114,044 | €177,143 | +€63,099 | +55.3% |
| Fixed assets | 21/28 | €27,044 | €23,975 | -€3,069 | -11.3% |
| Tangible fixed assets | 22/27 | €27,044 | €23,975 | -€3,069 | -11.3% |
| Land and buildings | 22 | €16,503 | €14,073 | -€2,430 | -14.7% |
| Plant, machinery and equipment | 23 | €5,696 | €3,876 | -€1,820 | -32.0% |
| Furniture and vehicles | 24 | €4,844 | €6,025 | +€1,181 | +24.4% |
| Current assets | 29/58 | €87,001 | €153,168 | +€66,168 | +76.1% |
| Stocks and contracts in progress | 3 | €42,800 | €3,586 | -€39,214 | -91.6% |
| Stocks | 30/36 | €6,580 | €3,586 | -€2,994 | -45.5% |
| Contracts in progress | 37 | €36,220 | - | -€36,220 | |
| Amounts receivable within one year | 40/41 | €32,734 | €99,633 | +€66,900 | +204.4% |
| Trade receivables | 40 | €1,912 | €57,541 | +€55,628 | +2908.7% |
| Other amounts receivable | 41 | €30,821 | €42,093 | +€11,272 | +36.6% |
| Cash at bank and in hand | 54/58 | €7,120 | €45,249 | +€38,129 | +535.5% |
| Deferred charges and accrued income | 490/1 | €4,346 | €4,700 | +€353 | +8.1% |
| Total equity and liabilities | 10/49 | €114,044 | €177,143 | +€63,099 | +55.3% |
| Equity | 10/15 | €62,662 | €87,848 | +€25,186 | +40.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €76,860 | €76,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,398 | €4,788 | +€25,186 | |
| Amounts payable | 17/49 | €51,382 | €89,295 | +€37,913 | +73.8% |
| Amounts payable within one year | 42/48 | €51,158 | €89,153 | +€37,994 | +74.3% |
| Current portion of amounts payable after more than one year | 42 | €5,117 | - | -€5,117 | |
| Trade debts | 44 | €16,022 | €12,624 | -€3,398 | -21.2% |
| Suppliers | 440/4 | €16,022 | €12,624 | -€3,398 | -21.2% |
| Taxes, remuneration and social security | 45 | €30,019 | €38,279 | +€8,260 | +27.5% |
| Taxes | 450/3 | €20,424 | €28,883 | +€8,458 | +41.4% |
| Remuneration and social security | 454/9 | €9,595 | €9,396 | -€199 | -2.1% |
| Other amounts payable | 47/48 | - | €38,250 | +€38,250 | |
| Accrued charges and deferred income | 492/3 | €224 | €142 | -€82 | -36.5% |
| Remuneration, social security and pensions | 62 | €44,985 | €83,112 | +€38,126 | +84.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,444 | €7,682 | +€238 | +3.2% |
| Other operating charges | 640/8 | €2,090 | €2,368 | +€278 | +13.3% |
| Gross operating margin | 9900 | €54,768 | €178,820 | +€124,052 | +226.5% |
| Operating profit (loss) | 9901 | €249 | €85,657 | +€85,409 | +34355.9% |
| Financial income | 75/76B | €1,141 | €2,419 | +€1,278 | +112.0% |
| Recurring financial income | 75 | €0 | €4 | +€4 | +4566.7% |
| Non-recurring financial income | 76B | €1,141 | €2,415 | +€1,274 | +111.7% |
| Financial charges | 65/66B | €11,582 | €3,178 | -€8,404 | -72.6% |
| Recurring financial charges | 65 | €2,680 | €3,178 | +€498 | +18.6% |
| Non-recurring financial charges | 66B | €8,901 | - | -€8,901 | |
| Profit (loss) for the period before taxes | 9903 | -€10,192 | €84,899 | +€95,091 | |
| Income taxes | 67/77 | €472 | €14,713 | +€14,240 | +3014.1% |
| Profit (loss) for the period | 9904 | -€10,664 | €70,186 | +€80,851 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,664 | €70,186 | +€80,851 |
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 8 October 2026 via checked.be.