Dre Capital: 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.
Dre Capital
Largest movements
- Cash +€173,769
up €173,769 (+9,423%), from €1,844 to €175,613
- Intangible fixed assets +€35,142
up €35,142 (+128%), from €27,532 to €62,674
- Receivables within one year -€12,003
down €12,003 (-55.9%), from €21,487 to €9,484
- Tangible fixed assets +€4,045
up €4,045 (+49.2%), from €8,217 to €12,262
of which Plant, machinery and equipment: +€4,665
- Contributions +€150,000
up €150,000 (+3,000%), from €5,000 to €155,000
- Accrued charges and deferred income -€49,655
no longer reported in 2025 (was €49,655)
- Profit (loss) carried forward +€31,641
new in 2025: €31,641
- Other debts +€24,002
new in 2025: €24,002
- Debts after one year +€14,250
new in 2025: €14,250
- Gross operating margin +€33,926
up €33,926 (+432%), from €7,859 to €41,785
- Depreciation +€6,648
up €6,648 (+233%), from €2,852 to €9,500
- Taxes +€6,330
up €6,330 (+703%), from €900 to €7,230
- Other operating charges +€2,071
up €2,071 (+224%), from €925 to €2,997
- Financial charges +€1,422
up €1,422 (+1,124%), from €127 to €1,549
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €61,606 | €262,559 | +€200,953 | +326% |
| Fixed assets | 21/28 | €38,274 | €77,461 | +€39,187 | +102% |
| Intangible fixed assets | 21 | €27,532 | €62,674 | +€35,142 | +128% |
| Tangible fixed assets | 22/27 | €8,217 | €12,262 | +€4,045 | +49.2% |
| Land and buildings | 22 | €3,076 | €2,456 | -€620 | -20.2% |
| Plant, machinery and equipment | 23 | €5,141 | €9,806 | +€4,665 | +90.7% |
| Financial fixed assets | 28 | €2,526 | €2,526 | = | 0.0% |
| Current assets | 29/58 | €23,331 | €185,097 | +€161,766 | +693% |
| Amounts receivable within one year | 40/41 | €21,487 | €9,484 | -€12,003 | -55.9% |
| Trade receivables | 40 | €21,487 | €9,484 | -€12,003 | -55.9% |
| Cash at bank and in hand | 54/58 | €1,844 | €175,613 | +€173,769 | +9,423% |
| Total equity and liabilities | 10/49 | €61,606 | €262,559 | +€200,953 | +326% |
| Equity | 10/15 | €8,404 | €190,045 | +€181,641 | +2,161% |
| Contributions | 10/11 | €5,000 | €155,000 | +€150,000 | +3,000% |
| Capital | 10 | - | €155,000 | +€155,000 | |
| Issued capital | 100 | - | €155,000 | +€155,000 | |
| Reserves | 13 | €3,404 | €3,404 | = | 0.0% |
| Distributable reserves | 133 | €3,404 | €3,404 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €31,641 | +€31,641 | |
| Amounts payable | 17/49 | €53,202 | €72,513 | +€19,311 | +36.3% |
| Amounts payable after more than one year | 17 | - | €14,250 | +€14,250 | |
| Financial debts | 170/4 | - | €14,250 | +€14,250 | |
| Amounts payable within one year | 42/48 | €3,547 | €58,263 | +€54,716 | +1,543% |
| Current portion of amounts payable after more than one year | 42 | - | €11,760 | +€11,760 | |
| Trade debts | 44 | €1,213 | €9,927 | +€8,715 | +719% |
| Suppliers | 440/4 | €1,213 | €9,927 | +€8,715 | +719% |
| Taxes, remuneration and social security | 45 | €2,334 | €12,574 | +€10,240 | +439% |
| Taxes | 450/3 | €2,334 | €12,574 | +€10,240 | +439% |
| Other amounts payable | 47/48 | - | €24,002 | +€24,002 | |
| Accrued charges and deferred income | 492/3 | €49,655 | - | -€49,655 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,852 | €9,500 | +€6,648 | +233% |
| Other operating charges | 640/8 | €925 | €2,997 | +€2,071 | +224% |
| Gross operating margin | 9900 | €7,859 | €41,785 | +€33,926 | +432% |
| Operating profit (loss) | 9901 | €4,082 | €29,288 | +€25,206 | +618% |
| Financial income | 75/76B | €349 | €0 | -€349 | -100.0% |
| Recurring financial income | 75 | €349 | €0 | -€349 | -100.0% |
| Financial charges | 65/66B | €127 | €1,549 | +€1,422 | +1,124% |
| Recurring financial charges | 65 | €127 | €1,549 | +€1,422 | +1,124% |
| Profit (loss) for the period before taxes | 9903 | €4,304 | €27,739 | +€23,435 | +544% |
| Income taxes | 67/77 | €900 | €7,230 | +€6,330 | +703% |
| Profit (loss) for the period | 9904 | €3,404 | €20,509 | +€17,105 | +503% |
| Profit (loss) for the period to be appropriated | 9905 | €3,404 | €20,509 | +€17,105 | +503% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.