DRAGO: 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.
DRAGO
Largest movements
- Receivables within one year -€55,185
down €55,185 (-51.3%), from €107,512 to €52,327
of which Trade receivables: -€54,871
- Financial fixed assets +€3,000
up €3,000 (+529.3%), from €567 to €3,567
- Tangible fixed assets +€1,917
up €1,917 (+12.0%), from €16,022 to €17,938
of which Furniture and vehicles: +€1,073
- Short-term financial debts -€79,253
down €79,253 (-87.1%), from €91,012 to €11,759
- Other debts +€24,436
up €24,436 (+25.1%), from €97,509 to €121,945
- Advances received +€24,302
up €24,302 (+116.7%), from €20,828 to €45,130
- Profit (loss) carried forward -€20,914
down €20,914 (-18.4%), from -€113,553 to -€134,467
- Tax, wage and social debts +€3,703
up €3,703 (+33.9%), from €10,936 to €14,639
of which Taxes: +€2,236
- Staff costs +€6,680
up €6,680 (+18.5%), from €36,017 to €42,697
- Gross operating margin -€5,721
down €5,721 (-16.3%), from €35,038 to €29,317
- Other operating charges +€1,464
up €1,464 (+331.0%), from €442 to €1,907
- Financial charges +€983
up €983 (+87.5%), from €1,123 to €2,106
- Depreciation +€808
up €808 (+29.8%), from €2,714 to €3,522
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 | €138,781 | €88,602 | -€50,178 | -36.2% |
| Fixed assets | 21/28 | €16,588 | €21,505 | +€4,917 | +29.6% |
| Tangible fixed assets | 22/27 | €16,022 | €17,938 | +€1,917 | +12.0% |
| Plant, machinery and equipment | 23 | €15,729 | €16,573 | +€844 | +5.4% |
| Furniture and vehicles | 24 | €292 | €1,365 | +€1,073 | +366.9% |
| Financial fixed assets | 28 | €567 | €3,567 | +€3,000 | +529.3% |
| Current assets | 29/58 | €122,193 | €67,097 | -€55,095 | -45.1% |
| Stocks and contracts in progress | 3 | €9,870 | €9,870 | = | 0.0% |
| Stocks | 30/36 | €9,870 | €9,870 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €107,512 | €52,327 | -€55,185 | -51.3% |
| Trade receivables | 40 | €106,581 | €51,710 | -€54,871 | -51.5% |
| Other amounts receivable | 41 | €931 | €617 | -€314 | -33.7% |
| Cash at bank and in hand | 54/58 | €4,429 | €4,362 | -€67 | -1.5% |
| Deferred charges and accrued income | 490/1 | €382 | €538 | +€156 | +41.0% |
| Total equity and liabilities | 10/49 | €138,781 | €88,602 | -€50,178 | -36.2% |
| Equity | 10/15 | -€94,953 | -€115,867 | -€20,914 | -22.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€113,553 | -€134,467 | -€20,914 | -18.4% |
| Amounts payable | 17/49 | €233,734 | €204,470 | -€29,265 | -12.5% |
| Amounts payable within one year | 42/48 | €233,734 | €204,470 | -€29,265 | -12.5% |
| Financial debts | 43 | €91,012 | €11,759 | -€79,253 | -87.1% |
| Other loans | 439 | €91,012 | €11,759 | -€79,253 | -87.1% |
| Trade debts | 44 | €13,450 | €10,997 | -€2,453 | -18.2% |
| Suppliers | 440/4 | €13,450 | €10,997 | -€2,453 | -18.2% |
| Advances received on contracts in progress | 46 | €20,828 | €45,130 | +€24,302 | +116.7% |
| Taxes, remuneration and social security | 45 | €10,936 | €14,639 | +€3,703 | +33.9% |
| Taxes | 450/3 | €2,876 | €5,111 | +€2,236 | +77.8% |
| Remuneration and social security | 454/9 | €8,060 | €9,527 | +€1,467 | +18.2% |
| Other amounts payable | 47/48 | €97,509 | €121,945 | +€24,436 | +25.1% |
| Remuneration, social security and pensions | 62 | €36,017 | €42,697 | +€6,680 | +18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,714 | €3,522 | +€808 | +29.8% |
| Other operating charges | 640/8 | €442 | €1,907 | +€1,464 | +331.0% |
| Gross operating margin | 9900 | €35,038 | €29,317 | -€5,721 | -16.3% |
| Operating profit (loss) | 9901 | -€4,134 | -€18,808 | -€14,673 | -354.9% |
| Financial income | 75/76B | €14 | €0 | -€14 | -100.0% |
| Recurring financial income | 75 | €14 | €0 | -€14 | -100.0% |
| Financial charges | 65/66B | €1,123 | €2,106 | +€983 | +87.5% |
| Recurring financial charges | 65 | €1,123 | €2,106 | +€983 | +87.5% |
| Profit (loss) for the period before taxes | 9903 | -€5,244 | -€20,914 | -€15,670 | -298.8% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€5,244 | -€20,914 | -€15,670 | -298.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,244 | -€20,914 | -€15,670 | -298.8% |
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 9 October 2026 via checked.be.