DNCS: 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.
DNCS
Largest movements
- Stocks and contracts -€1.4m
down €1.4m (-67.2%), from €2.1m to €675,500
of which Contracts in progress: -€1.2m
- Current investments +€600,000
up €600,000 (+150.0%), from €400,000 to €1.0m
- Receivables within one year +€562,081
up €562,081 (+67.0%), from €839,363 to €1.4m
of which Trade receivables: +€576,972
- Cash -€241,326
down €241,326 (-50.9%), from €474,141 to €232,815
mainly Advances received (-€970,434) and Contributions, distributions and other (-€950,000)
- Advances received -€970,434
down €970,434 (-52.7%), from €1.8m to €870,227
- Other debts +€350,000
up €350,000, from €0 to €350,000
- Trade debts +€153,875
up €153,875 (+32.9%), from €467,068 to €620,943
- Debts after one year -€58,291
down €58,291 (-41.4%), from €140,827 to €82,537
- Reserves +€47,124
up €47,124 (+4.2%), from €1.1m to €1.2m
- Gross operating margin +€852,495
up €852,495 (+46.8%), from €1.8m to €2.7m
- Staff costs +€336,254
up €336,254 (+40.7%), from €826,969 to €1.2m
- Taxes +€137,528
up €137,528 (+62.9%), from €218,516 to €356,044
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 | €4,163,762 | €3,710,263 | -€453,499 | -10.9% |
| Fixed assets | 21/28 | €247,414 | €252,120 | +€4,706 | +1.9% |
| Intangible fixed assets | 21 | €99,082 | €133,311 | +€34,230 | +34.5% |
| Tangible fixed assets | 22/27 | €148,332 | €118,809 | -€29,523 | -19.9% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €7,980 | €5,993 | -€1,986 | -24.9% |
| Furniture and vehicles | 24 | €55,148 | €82,767 | +€27,620 | +50.1% |
| Other tangible fixed assets | 26 | €85,205 | €30,048 | -€55,157 | -64.7% |
| Current assets | 29/58 | €3,916,348 | €3,458,143 | -€458,205 | -11.7% |
| Stocks and contracts in progress | 3 | €2,061,546 | €675,500 | -€1.4m | -67.2% |
| Stocks | 30/36 | €714,317 | €497,280 | -€217,037 | -30.4% |
| Contracts in progress | 37 | €1,347,229 | €178,221 | -€1.2m | -86.8% |
| Amounts receivable within one year | 40/41 | €839,363 | €1,401,444 | +€562,081 | +67.0% |
| Trade receivables | 40 | €703,828 | €1,280,800 | +€576,972 | +82.0% |
| Other amounts receivable | 41 | €135,535 | €120,644 | -€14,891 | -11.0% |
| Current investments | 50/53 | €400,000 | €1,000,000 | +€600,000 | +150.0% |
| Cash at bank and in hand | 54/58 | €474,141 | €232,815 | -€241,326 | -50.9% |
| Deferred charges and accrued income | 490/1 | €141,298 | €148,384 | +€7,086 | +5.0% |
| Total equity and liabilities | 10/49 | €4,163,762 | €3,710,263 | -€453,499 | -10.9% |
| Equity | 10/15 | €1,128,833 | €1,175,956 | +€47,124 | +4.2% |
| Contributions | 10/11 | €10,994 | €10,994 | = | 0.0% |
| Reserves | 13 | €1,117,839 | €1,164,963 | +€47,124 | +4.2% |
| Distributable reserves | 133 | €1,117,839 | €1,164,963 | +€47,124 | +4.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,034,930 | €2,534,307 | -€500,623 | -16.5% |
| Amounts payable after more than one year | 17 | €140,827 | €82,537 | -€58,291 | -41.4% |
| Financial debts | 170/4 | €140,827 | €82,537 | -€58,291 | -41.4% |
| Amounts payable within one year | 42/48 | €2,535,186 | €2,075,336 | -€459,849 | -18.1% |
| Current portion of amounts payable after more than one year | 42 | €59,734 | €57,723 | -€2,011 | -3.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €467,068 | €620,943 | +€153,875 | +32.9% |
| Suppliers | 440/4 | €467,068 | €620,943 | +€153,875 | +32.9% |
| Advances received on contracts in progress | 46 | €1,840,661 | €870,227 | -€970,434 | -52.7% |
| Taxes, remuneration and social security | 45 | €167,723 | €176,443 | +€8,720 | +5.2% |
| Taxes | 450/3 | €82,090 | €27,072 | -€55,019 | -67.0% |
| Remuneration and social security | 454/9 | €85,632 | €149,371 | +€63,739 | +74.4% |
| Other amounts payable | 47/48 | €0 | €350,000 | +€350,000 | |
| Accrued charges and deferred income | 492/3 | €358,917 | €376,434 | +€17,517 | +4.9% |
| Non-recurring operating income | 76A | €11,412 | €1,157 | -€10,255 | -89.9% |
| Remuneration, social security and pensions | 62 | €826,969 | €1,163,223 | +€336,254 | +40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,111 | €97,691 | +€20,580 | +26.7% |
| Other operating charges | 640/8 | €67,897 | €55,762 | -€12,136 | -17.9% |
| Non-recurring operating charges | 66A | €2,104 | €0 | -€2,104 | -100.0% |
| Gross operating margin | 9900 | €1,822,140 | €2,674,635 | +€852,495 | +46.8% |
| Operating profit (loss) | 9901 | €848,058 | €1,357,959 | +€509,901 | +60.1% |
| Financial income | 75/76B | €9,794 | €15,063 | +€5,269 | +53.8% |
| Recurring financial income | 75 | €9,794 | €15,063 | +€5,269 | +53.8% |
| Financial charges | 65/66B | €38,400 | €19,855 | -€18,545 | -48.3% |
| Recurring financial charges | 65 | €21,240 | €13,709 | -€7,531 | -35.5% |
| Non-recurring financial charges | 66B | €17,159 | €6,146 | -€11,014 | -64.2% |
| Profit (loss) for the period before taxes | 9903 | €819,452 | €1,353,167 | +€533,715 | +65.1% |
| Income taxes | 67/77 | €218,516 | €356,044 | +€137,528 | +62.9% |
| Profit (loss) for the period | 9904 | €600,936 | €997,124 | +€396,188 | +65.9% |
| Profit (loss) for the period to be appropriated | 9905 | €600,936 | €997,124 | +€396,188 | +65.9% |
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 6 October 2026 via checked.be.