DR ASSOCIATES: 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.
DR ASSOCIATES
Largest movements
- Current investments +€89,592
up €89,592 (+17.2%), from €521,995 to €611,587
- Tangible fixed assets -€48,804
down €48,804 (-19.1%), from €255,627 to €206,824
of which Land and buildings: -€47,267
- Reserves +€92,478
up €92,478 (+17.6%), from €526,304 to €618,782
of which Distributable reserves: +€92,478
- Debts after one year -€55,159
down €55,159 (-34.3%), from €160,800 to €105,641
- Trade debts -€16,589
down €16,589 (-82.8%), from €20,038 to €3,449
- Tax, wage and social debts +€10,846
up €10,846 (+145%), from €7,488 to €18,334
- Gross operating margin +€73,794
up €73,794 (+69.6%), from €106,052 to €179,846
- Taxes +€16,197
up €16,197 (+77.1%), from €20,996 to €37,193
- Financial income -€4,479
down €4,479 (-30.3%), from €14,802 to €10,323
- Financial charges -€1,989
down €1,989 (-21.0%), from €9,467 to €7,478
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €798,789 | €833,774 | +€34,985 | +4.4% |
| Fixed assets | 21/28 | €257,207 | €208,404 | -€48,804 | -19.0% |
| Tangible fixed assets | 22/27 | €255,627 | €206,824 | -€48,804 | -19.1% |
| Land and buildings | 22 | €250,536 | €203,268 | -€47,267 | -18.9% |
| Plant, machinery and equipment | 23 | €1,355 | €856 | -€498 | -36.8% |
| Furniture and vehicles | 24 | €3,737 | €2,699 | -€1,038 | -27.8% |
| Financial fixed assets | 28 | €1,580 | €1,580 | = | 0.0% |
| Current assets | 29/58 | €541,582 | €625,370 | +€83,788 | +15.5% |
| Amounts receivable within one year | 40/41 | €6,196 | €76 | -€6,120 | -98.8% |
| Trade receivables | 40 | €6,035 | €0 | -€6,035 | -100% |
| Other amounts receivable | 41 | €161 | €76 | -€85 | -52.8% |
| Current investments | 50/53 | €521,995 | €611,587 | +€89,592 | +17.2% |
| Cash at bank and in hand | 54/58 | €13,390 | €13,707 | +€317 | +2.4% |
| Total equity and liabilities | 10/49 | €798,789 | €833,774 | +€34,985 | +4.4% |
| Equity | 10/15 | €544,904 | €637,382 | +€92,478 | +17.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €526,304 | €618,782 | +€92,478 | +17.6% |
| Tax-exempt reserves | 132 | €1,845 | €1,845 | = | 0.0% |
| Distributable reserves | 133 | €524,459 | €616,937 | +€92,478 | +17.6% |
| Amounts payable | 17/49 | €253,885 | €196,392 | -€57,493 | -22.6% |
| Amounts payable after more than one year | 17 | €160,800 | €105,641 | -€55,159 | -34.3% |
| Financial debts | 170/4 | €160,800 | €105,641 | -€55,159 | -34.3% |
| Amounts payable within one year | 42/48 | €93,085 | €90,751 | -€2,334 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €46,200 | €42,350 | -€3,850 | -8.3% |
| Trade debts | 44 | €20,038 | €3,449 | -€16,589 | -82.8% |
| Suppliers | 440/4 | €20,038 | €3,449 | -€16,589 | -82.8% |
| Taxes, remuneration and social security | 45 | €7,488 | €18,334 | +€10,846 | +145% |
| Taxes | 450/3 | €7,488 | €18,334 | +€10,846 | +145% |
| Other amounts payable | 47/48 | €19,358 | €26,617 | +€7,259 | +37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,827 | €48,804 | -€23 | 0.0% |
| Other operating charges | 640/8 | €4,601 | €4,217 | -€384 | -8.3% |
| Gross operating margin | 9900 | €106,052 | €179,846 | +€73,794 | +69.6% |
| Operating profit (loss) | 9901 | €52,624 | €126,825 | +€74,201 | +141% |
| Financial income | 75/76B | €14,802 | €10,323 | -€4,479 | -30.3% |
| Recurring financial income | 75 | €14,802 | €10,323 | -€4,479 | -30.3% |
| Financial charges | 65/66B | €9,467 | €7,478 | -€1,989 | -21.0% |
| Recurring financial charges | 65 | €9,467 | €7,478 | -€1,989 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €57,960 | €129,671 | +€71,711 | +124% |
| Income taxes | 67/77 | €20,996 | €37,193 | +€16,197 | +77.1% |
| Profit (loss) for the period | 9904 | €36,964 | €92,478 | +€55,514 | +150% |
| Profit (loss) for the period to be appropriated | 9905 | €36,964 | €92,478 | +€55,514 | +150% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.