DRAGON GOLF: 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.
DRAGON GOLF
Largest movements
- Tangible fixed assets +€26,040
up €26,040 (+49.4%), from €52,701 to €78,742
of which Furniture and vehicles: +€36,133
- Cash -€20,254
down €20,254 (-37.0%), from €54,810 to €34,556
mainly Investment in fixed assets (net) (-€43,947) and Receivables within one year (-€18,908)
- Receivables within one year +€18,908
up €18,908 (+150.3%), from €12,584 to €31,492
of which Other amounts receivable: +€10,089
- Deferred charges and accrued income +€5,961
up €5,961 (+150.4%), from €3,964 to €9,925
- Stocks and contracts +€2,363
up €2,363 (+3.8%), from €62,353 to €64,717
- Short-term financial debts +€17,053
up €17,053 (+3692.7%), from €462 to €17,515
- Trade debts +€15,988
up €15,988 (+58.0%), from €27,574 to €43,562
- Tax, wage and social debts +€4,302
up €4,302 (+44.2%), from €9,726 to €14,028
of which Taxes: +€5,145
- Debts after one year -€3,000
down €3,000 (-3.8%), from €79,624 to €76,624
- Current portion of long-term debt -€2,872
down €2,872 (-6.6%), from €43,321 to €40,449
- Staff costs -€10,862
down €10,862 (-43.8%), from €24,826 to €13,964
- Financial charges -€2,629
down €2,629 (-19.0%), from €13,853 to €11,225
- Other operating charges +€2,131
up €2,131 (+26.0%), from €8,180 to €10,310
- Gross operating margin -€2,022
down €2,022 (-3.5%), from €57,352 to €55,329
- Depreciation -€1,479
down €1,479 (-7.6%), from €19,387 to €17,907
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 | €187,837 | €220,856 | +€33,019 | +17.6% |
| Fixed assets | 21/28 | €54,126 | €80,166 | +€26,040 | +48.1% |
| Tangible fixed assets | 22/27 | €52,701 | €78,742 | +€26,040 | +49.4% |
| Land and buildings | 22 | €2,356 | €1,526 | -€830 | -35.2% |
| Plant, machinery and equipment | 23 | €38,013 | €31,909 | -€6,105 | -16.1% |
| Furniture and vehicles | 24 | €6,871 | €43,005 | +€36,133 | +525.8% |
| Leasing and similar rights | 25 | €5,460 | €2,302 | -€3,159 | -57.8% |
| Financial fixed assets | 28 | €1,425 | €1,425 | = | 0.0% |
| Current assets | 29/58 | €133,711 | €140,690 | +€6,979 | +5.2% |
| Stocks and contracts in progress | 3 | €62,353 | €64,717 | +€2,363 | +3.8% |
| Stocks | 30/36 | €62,353 | €64,717 | +€2,363 | +3.8% |
| Amounts receivable within one year | 40/41 | €12,584 | €31,492 | +€18,908 | +150.3% |
| Trade receivables | 40 | €3,025 | €11,844 | +€8,820 | +291.6% |
| Other amounts receivable | 41 | €9,559 | €19,648 | +€10,089 | +105.5% |
| Cash at bank and in hand | 54/58 | €54,810 | €34,556 | -€20,254 | -37.0% |
| Deferred charges and accrued income | 490/1 | €3,964 | €9,925 | +€5,961 | +150.4% |
| Total equity and liabilities | 10/49 | €187,837 | €220,856 | +€33,019 | +17.6% |
| Equity | 10/15 | €22,274 | €24,976 | +€2,701 | +12.1% |
| Contributions | 10/11 | €24,800 | €24,800 | = | 0.0% |
| Reserves | 13 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,526 | -€5,824 | +€2,701 | +31.7% |
| Amounts payable | 17/49 | €165,563 | €195,881 | +€30,318 | +18.3% |
| Amounts payable after more than one year | 17 | €79,624 | €76,624 | -€3,000 | -3.8% |
| Financial debts | 170/4 | €79,624 | €76,624 | -€3,000 | -3.8% |
| Amounts payable within one year | 42/48 | €84,214 | €117,532 | +€33,318 | +39.6% |
| Current portion of amounts payable after more than one year | 42 | €43,321 | €40,449 | -€2,872 | -6.6% |
| Financial debts | 43 | €462 | €17,515 | +€17,053 | +3692.7% |
| Credit institutions | 430/8 | €462 | €17,515 | +€17,053 | +3692.7% |
| Trade debts | 44 | €27,574 | €43,562 | +€15,988 | +58.0% |
| Suppliers | 440/4 | €27,574 | €43,562 | +€15,988 | +58.0% |
| Advances received on contracts in progress | 46 | €3,130 | €1,977 | -€1,153 | -36.8% |
| Taxes, remuneration and social security | 45 | €9,726 | €14,028 | +€4,302 | +44.2% |
| Taxes | 450/3 | €8,566 | €13,711 | +€5,145 | +60.1% |
| Remuneration and social security | 454/9 | €1,160 | €317 | -€843 | -72.7% |
| Accrued charges and deferred income | 492/3 | €1,725 | €1,725 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €24,826 | €13,964 | -€10,862 | -43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,387 | €17,907 | -€1,479 | -7.6% |
| Other operating charges | 640/8 | €8,180 | €10,310 | +€2,131 | +26.0% |
| Gross operating margin | 9900 | €57,352 | €55,329 | -€2,022 | -3.5% |
| Operating profit (loss) | 9901 | €4,960 | €13,148 | +€8,188 | +165.1% |
| Financial income | 75/76B | €1,029 | €1,132 | +€103 | +10.0% |
| Recurring financial income | 75 | €1,029 | €1,132 | +€103 | +10.0% |
| Financial charges | 65/66B | €13,853 | €11,225 | -€2,629 | -19.0% |
| Recurring financial charges | 65 | €13,853 | €11,225 | -€2,629 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,865 | €3,055 | +€10,920 | |
| Income taxes | 67/77 | €342 | €354 | +€12 | +3.5% |
| Profit (loss) for the period | 9904 | -€8,206 | €2,701 | +€10,908 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,206 | €2,701 | +€10,908 |
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.