THE DRAGON FLY: 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.
What changed
THE DRAGON FLY
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€27,900
2024 · €17,145+€10,756
Equity
€4,435
2024 · -€23,465+€27,900
Cash
€17,395
2024 · €10,305+€7,090
Balance sheet total
€3.0m
2024 · €2.9m+€95,987
Largest movements
Assets
- Tangible fixed assets +€90,739
up €90,739 (+3.2%), from €2.8m to €2.9m
of which Furniture and vehicles: +€274,614
Equity and liabilities
- Other debts +€142,240
up €142,240 (+8.8%), from €1.6m to €1.8m
- Debts after one year -€90,698
down €90,698 (-8.0%), from €1.1m to €1.0m
of which Financial debts: -€93,968
Income statement
- Gross operating margin +€25,335
up €25,335 (+13.7%), from €185,208 to €210,543
- Depreciation +€14,875
up €14,875 (+13.5%), from €110,111 to €124,985
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.
Result 2024
€17,145
Gross operating margin
+€25,335
Depreciation
-€14,875
Other operating charges
-€1,226
Financial income
+€20
Financial charges
+€1,524
Taxes
-€23
Result 2025
€27,900
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€299,157
Investment
-€215,725
Financing
-€76,343
Cash 2024
€10,305
From operations (derived)
+€299,157
Net result for the year
+€27,900
Depreciation
+€124,985
Deferred charges and accrued income
+€1,842
Trade debts
+€1,841
Smaller working-capital items
+€348
Other debts
+€142,240
Investment (derived)
-€215,725
Investment in fixed assets (net)
-€215,725
Financing
-€76,343
Debts after one year
-€90,698
Current portion of long-term debt
+€14,356
Cash 2025
€17,395
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,865,620 | €2,961,607 | +€95,987 | +3.3% |
| Fixed assets | 21/28 | €2,849,457 | €2,940,196 | +€90,739 | +3.2% |
| Tangible fixed assets | 22/27 | €2,849,457 | €2,940,196 | +€90,739 | +3.2% |
| Land and buildings | 22 | €2,736,187 | €2,638,381 | -€97,807 | -3.6% |
| Plant, machinery and equipment | 23 | €6,323 | €5,623 | -€700 | -11.1% |
| Furniture and vehicles | 24 | - | €274,614 | +€274,614 | |
| Other tangible fixed assets | 26 | €106,946 | €21,578 | -€85,369 | -79.8% |
| Current assets | 29/58 | €16,164 | €21,411 | +€5,248 | +32.5% |
| Cash at bank and in hand | 54/58 | €10,305 | €17,395 | +€7,090 | +68.8% |
| Deferred charges and accrued income | 490/1 | €5,858 | €4,017 | -€1,842 | -31.4% |
| Total equity and liabilities | 10/49 | €2,865,620 | €2,961,607 | +€95,987 | +3.3% |
| Equity | 10/15 | -€23,465 | €4,435 | +€27,900 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,916 | -€16,016 | +€27,900 | +63.5% |
| Amounts payable | 17/49 | €2,889,085 | €2,957,172 | +€68,087 | +2.4% |
| Amounts payable after more than one year | 17 | €1,129,034 | €1,038,336 | -€90,698 | -8.0% |
| Financial debts | 170/4 | €1,126,634 | €1,032,666 | -€93,968 | -8.3% |
| Other amounts payable | 178/9 | €2,400 | €5,670 | +€3,270 | +136% |
| Amounts payable within one year | 42/48 | €1,756,316 | €1,914,776 | +€158,460 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €133,776 | €148,131 | +€14,356 | +10.7% |
| Trade debts | 44 | €11,453 | €13,294 | +€1,841 | +16.1% |
| Suppliers | 440/4 | €11,453 | €13,294 | +€1,841 | +16.1% |
| Taxes, remuneration and social security | 45 | - | €23 | +€23 | |
| Taxes | 450/3 | - | €23 | +€23 | |
| Other amounts payable | 47/48 | €1,611,087 | €1,753,327 | +€142,240 | +8.8% |
| Accrued charges and deferred income | 492/3 | €3,735 | €4,060 | +€325 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,111 | €124,985 | +€14,875 | +13.5% |
| Other operating charges | 640/8 | €20,816 | €22,042 | +€1,226 | +5.9% |
| Gross operating margin | 9900 | €185,208 | €210,543 | +€25,335 | +13.7% |
| Operating profit (loss) | 9901 | €54,281 | €63,516 | +€9,235 | +17.0% |
| Financial income | 75/76B | €0 | €20 | +€20 | +66,567% |
| Recurring financial income | 75 | €0 | €20 | +€20 | +66,567% |
| Financial charges | 65/66B | €37,136 | €35,612 | -€1,524 | -4.1% |
| Recurring financial charges | 65 | €37,136 | €35,612 | -€1,524 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | €17,145 | €27,923 | +€10,779 | +62.9% |
| Income taxes | 67/77 | - | €23 | +€23 | |
| Profit (loss) for the period | 9904 | €17,145 | €27,900 | +€10,756 | +62.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,145 | €27,900 | +€10,756 | +62.7% |
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 18 October 2026 via checked.be.