DUAL DAGGERS: what changed
DUAL DAGGERS
Largest movements
- Cash +€317,075
up €317,075 (+154%), from €205,958 to €523,033
mainly Receivables within one year (+€227,756) and Net result for the year (+€157,327)
- Receivables within one year -€227,756
down €227,756 (-69.9%), from €326,035 to €98,280
of which Trade receivables: -€228,924
- Profit (loss) carried forward +€155,661
up €155,661 (+40.4%), from €385,416 to €541,077
- Tax, wage and social debts -€59,986
down €59,986 (-43.1%), from €139,238 to €79,252
of which Taxes: -€60,553
- Other debts -€7,567
down €7,567 (-79.2%), from €9,554 to €1,988
- Gross operating margin -€305,702
down €305,702 (-59.7%), from €512,273 to €206,571
- Taxes -€75,855
down €75,855 (-61.8%), from €122,705 to €46,850
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €540,901 | €628,066 | +€87,165 | +16.1% |
| Formation expenses | 20 | €240 | €0 | -€240 | -100% |
| Fixed assets | 21/28 | €8,669 | €6,753 | -€1,916 | -22.1% |
| Tangible fixed assets | 22/27 | €8,669 | €6,753 | -€1,916 | -22.1% |
| Plant, machinery and equipment | 23 | €3,979 | €3,152 | -€827 | -20.8% |
| Other tangible fixed assets | 26 | €4,690 | €3,601 | -€1,089 | -23.2% |
| Current assets | 29/58 | €531,993 | €621,313 | +€89,320 | +16.8% |
| Amounts receivable within one year | 40/41 | €326,035 | €98,280 | -€227,756 | -69.9% |
| Trade receivables | 40 | €325,959 | €97,034 | -€228,924 | -70.2% |
| Other amounts receivable | 41 | €77 | €1,245 | +€1,169 | +1,528% |
| Cash at bank and in hand | 54/58 | €205,958 | €523,033 | +€317,075 | +154% |
| Total equity and liabilities | 10/49 | €540,901 | €628,066 | +€87,165 | +16.1% |
| Equity | 10/15 | €390,416 | €546,077 | +€155,661 | +39.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €385,416 | €541,077 | +€155,661 | +40.4% |
| Amounts payable | 17/49 | €150,485 | €81,989 | -€68,496 | -45.5% |
| Amounts payable within one year | 42/48 | €148,948 | €81,268 | -€67,680 | -45.4% |
| Financial debts | 43 | €105 | €0 | -€105 | -100% |
| Credit institutions | 430/8 | €105 | €0 | -€105 | -100% |
| Trade debts | 44 | €50 | €28 | -€22 | -44.6% |
| Suppliers | 440/4 | €50 | €28 | -€22 | -44.6% |
| Taxes, remuneration and social security | 45 | €139,238 | €79,252 | -€59,986 | -43.1% |
| Taxes | 450/3 | €135,790 | €75,237 | -€60,553 | -44.6% |
| Remuneration and social security | 454/9 | €3,449 | €4,016 | +€567 | +16.4% |
| Other amounts payable | 47/48 | €9,554 | €1,988 | -€7,567 | -79.2% |
| Accrued charges and deferred income | 492/3 | €1,538 | €721 | -€816 | -53.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,319 | €2,155 | -€164 | -7.1% |
| Gross operating margin | 9900 | €512,273 | €206,571 | -€305,702 | -59.7% |
| Operating profit (loss) | 9901 | €509,953 | €204,415 | -€305,538 | -59.9% |
| Financial income | 75/76B | €34 | €0 | -€34 | -99.3% |
| Recurring financial income | 75 | €34 | €0 | -€34 | -99.3% |
| Financial charges | 65/66B | €149 | €239 | +€90 | +60.6% |
| Recurring financial charges | 65 | €149 | €239 | +€90 | +60.6% |
| Profit (loss) for the period before taxes | 9903 | €509,839 | €204,177 | -€305,662 | -60.0% |
| Income taxes | 67/77 | €122,705 | €46,850 | -€75,855 | -61.8% |
| Profit (loss) for the period | 9904 | €387,134 | €157,327 | -€229,807 | -59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €387,134 | €157,327 | -€229,807 | -59.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.