SETA DAK: 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.
SETA DAK
Largest movements
- Receivables within one year +€67,896
up €67,896 (+182.8%), from €37,141 to €105,037
of which Trade receivables: +€79,183
- Deferred charges and accrued income +€29,511
up €29,511 (+190.4%), from €15,496 to €45,007
- Cash +€6,484
up €6,484 (+22.2%), from €29,241 to €35,725
mainly Advances received (+€93,704) and Short-term financial debts (+€9,929)
- Tangible fixed assets -€5,441
down €5,441 (-52.5%), from €10,365 to €4,924
of which Furniture and vehicles: -€5,159
- Stocks and contracts +€2,437
up €2,437 (+15.1%), from €16,114 to €18,551
of which Contracts in progress: +€3,551
- Advances received +€93,704
new in 2025: €93,704
- Reserves -€14,167
down €14,167 (-20.9%), from €67,644 to €53,478
of which Distributable reserves: -€14,167
- Short-term financial debts +€9,929
new in 2025: €9,929
- Tax, wage and social debts +€4,251
up €4,251 (+25.0%), from €17,003 to €21,254
of which Taxes: +€2,254
- Other debts +€4,073
new in 2025: €4,073
- Gross operating margin -€13,451
down €13,451 (-26.4%), from €50,863 to €37,413
- Depreciation +€1,581
up €1,581 (+41.0%), from €3,860 to €5,441
- Financial charges +€1,111
up €1,111 (+31.1%), from €3,574 to €4,685
- Taxes -€869
down €869 (-12.0%), from €7,227 to €6,358
- Other operating charges +€744
up €744 (+16.5%), from €4,515 to €5,259
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 | €108,356 | €209,243 | +€100,887 | +93.1% |
| Fixed assets | 21/28 | €10,365 | €4,924 | -€5,441 | -52.5% |
| Tangible fixed assets | 22/27 | €10,365 | €4,924 | -€5,441 | -52.5% |
| Land and buildings | 22 | - | €0 | = | |
| Plant, machinery and equipment | 23 | €813 | €531 | -€282 | -34.7% |
| Furniture and vehicles | 24 | €9,552 | €4,393 | -€5,159 | -54.0% |
| Current assets | 29/58 | €97,991 | €204,319 | +€106,328 | +108.5% |
| Stocks and contracts in progress | 3 | €16,114 | €18,551 | +€2,437 | +15.1% |
| Stocks | 30/36 | €2,565 | €1,451 | -€1,114 | -43.4% |
| Contracts in progress | 37 | €13,549 | €17,100 | +€3,551 | +26.2% |
| Amounts receivable within one year | 40/41 | €37,141 | €105,037 | +€67,896 | +182.8% |
| Trade receivables | 40 | €15,393 | €94,576 | +€79,183 | +514.4% |
| Other amounts receivable | 41 | €21,748 | €10,461 | -€11,287 | -51.9% |
| Cash at bank and in hand | 54/58 | €29,241 | €35,725 | +€6,484 | +22.2% |
| Deferred charges and accrued income | 490/1 | €15,496 | €45,007 | +€29,511 | +190.4% |
| Total equity and liabilities | 10/49 | €108,356 | €209,243 | +€100,887 | +93.1% |
| Equity | 10/15 | €86,244 | €72,078 | -€14,167 | -16.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €67,644 | €53,478 | -€14,167 | -20.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €65,784 | €51,618 | -€14,167 | -21.5% |
| Amounts payable | 17/49 | €22,112 | €137,165 | +€115,053 | +520.3% |
| Amounts payable within one year | 42/48 | €22,112 | €137,165 | +€115,053 | +520.3% |
| Financial debts | 43 | - | €9,929 | +€9,929 | |
| Credit institutions | 430/8 | - | €9,929 | +€9,929 | |
| Trade debts | 44 | €5,109 | €8,206 | +€3,097 | +60.6% |
| Suppliers | 440/4 | €5,109 | €8,206 | +€3,097 | +60.6% |
| Advances received on contracts in progress | 46 | - | €93,704 | +€93,704 | |
| Taxes, remuneration and social security | 45 | €17,003 | €21,254 | +€4,251 | +25.0% |
| Taxes | 450/3 | €12,733 | €14,987 | +€2,254 | +17.7% |
| Remuneration and social security | 454/9 | €4,270 | €6,267 | +€1,997 | +46.8% |
| Other amounts payable | 47/48 | - | €4,073 | +€4,073 | |
| Non-recurring operating income | 76A | €528 | €190 | -€338 | -64.1% |
| Remuneration, social security and pensions | 62 | €14,738 | €15,360 | +€622 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,860 | €5,441 | +€1,581 | +41.0% |
| Other operating charges | 640/8 | €4,515 | €5,259 | +€744 | +16.5% |
| Non-recurring operating charges | 66A | - | €248 | +€248 | |
| Gross operating margin | 9900 | €50,863 | €37,413 | -€13,451 | -26.4% |
| Operating profit (loss) | 9901 | €27,750 | €11,104 | -€16,645 | -60.0% |
| Financial income | 75/76B | €48 | €58 | +€11 | +22.4% |
| Recurring financial income | 75 | €48 | €58 | +€11 | +22.4% |
| Financial charges | 65/66B | €3,574 | €4,685 | +€1,111 | +31.1% |
| Recurring financial charges | 65 | €3,574 | €4,685 | +€1,111 | +31.1% |
| Profit (loss) for the period before taxes | 9903 | €24,223 | €6,477 | -€17,746 | -73.3% |
| Income taxes | 67/77 | €7,227 | €6,358 | -€869 | -12.0% |
| Profit (loss) for the period | 9904 | €16,997 | €119 | -€16,877 | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,997 | €119 | -€16,877 | -99.3% |
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 12 October 2026 via checked.be.