DECAGON: 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.
DECAGON
Largest movements
- Tangible fixed assets -€57,834
down €57,834 (-5.2%), from €1.1m to €1.1m
- Cash -€38,563
down €38,563 (-25.0%), from €154,416 to €115,853
mainly Contributions, distributions and other (-€79,000) and Debts after one year (-€49,333)
- Financial fixed assets -€35,000
down €35,000 (-46.7%), from €75,000 to €40,000
- Receivables within one year +€22,963
new in 2025: €22,963
of which Trade receivables: +€13,796
- Reserves -€52,699
down €52,699 (-7.0%), from €750,010 to €697,311
of which Tax-exempt reserves: -€29,699
- Debts after one year -€49,333
down €49,333 (-14.3%), from €345,333 to €296,000
- Gross operating margin -€4,663
down €4,663 (-3.8%), from €122,155 to €117,492
- Financial income -€3,173
down €3,173 (-91.7%), from €3,459 to €287
- Taxes -€2,294
down €2,294 (-8.1%), from €28,381 to €26,087
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 | €1,349,727 | €1,241,294 | -€108,433 | -8.0% |
| Fixed assets | 21/28 | €1,195,312 | €1,102,478 | -€92,834 | -7.8% |
| Tangible fixed assets | 22/27 | €1,120,312 | €1,062,478 | -€57,834 | -5.2% |
| Land and buildings | 22 | €1,120,312 | €1,062,478 | -€57,834 | -5.2% |
| Financial fixed assets | 28 | €75,000 | €40,000 | -€35,000 | -46.7% |
| Current assets | 29/58 | €154,416 | €138,816 | -€15,600 | -10.1% |
| Amounts receivable within one year | 40/41 | - | €22,963 | +€22,963 | |
| Trade receivables | 40 | - | €13,796 | +€13,796 | |
| Other amounts receivable | 41 | - | €9,167 | +€9,167 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €154,416 | €115,853 | -€38,563 | -25.0% |
| Total equity and liabilities | 10/49 | €1,349,727 | €1,241,294 | -€108,433 | -8.0% |
| Equity | 10/15 | €819,355 | €766,718 | -€52,637 | -6.4% |
| Contributions | 10/11 | €68,171 | €68,171 | = | 0.0% |
| Capital | 10 | €68,171 | €68,171 | = | 0.0% |
| Issued capital | 100 | €68,171 | €68,171 | = | 0.0% |
| Reserves | 13 | €750,010 | €697,311 | -€52,699 | -7.0% |
| Non-distributable reserves | 130/1 | €11,323 | €11,323 | = | 0.0% |
| Legal reserve | 130 | €6,905 | €6,905 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,417 | €4,417 | = | 0.0% |
| Tax-exempt reserves | 132 | €364,487 | €334,788 | -€29,699 | -8.1% |
| Distributable reserves | 133 | €374,200 | €351,200 | -€23,000 | -6.1% |
| Profit (loss) carried forward | 14 | €1,174 | €1,237 | +€62 | +5.3% |
| Provisions and deferred taxes | 16 | €121,496 | €111,596 | -€9,900 | -8.1% |
| Deferred taxes | 168 | €121,496 | €111,596 | -€9,900 | -8.1% |
| Amounts payable | 17/49 | €408,877 | €362,980 | -€45,897 | -11.2% |
| Amounts payable after more than one year | 17 | €345,333 | €296,000 | -€49,333 | -14.3% |
| Financial debts | 170/4 | €345,333 | €296,000 | -€49,333 | -14.3% |
| Amounts payable within one year | 42/48 | €63,544 | €66,980 | +€3,436 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €49,333 | €49,333 | = | 0.0% |
| Trade debts | 44 | €2,191 | €3,370 | +€1,179 | +53.8% |
| Suppliers | 440/4 | €2,191 | €3,370 | +€1,179 | +53.8% |
| Taxes, remuneration and social security | 45 | €12,020 | €14,277 | +€2,257 | +18.8% |
| Taxes | 450/3 | €12,020 | €14,277 | +€2,257 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,240 | €57,834 | +€593 | +1.0% |
| Other operating charges | 640/8 | €10,049 | €10,361 | +€312 | +3.1% |
| Gross operating margin | 9900 | €122,155 | €117,492 | -€4,663 | -3.8% |
| Operating profit (loss) | 9901 | €54,866 | €49,298 | -€5,568 | -10.1% |
| Financial income | 75/76B | €3,459 | €287 | -€3,173 | -91.7% |
| Recurring financial income | 75 | €3,459 | €287 | -€3,173 | -91.7% |
| Financial charges | 65/66B | €7,792 | €7,035 | -€758 | -9.7% |
| Recurring financial charges | 65 | €7,792 | €7,035 | -€758 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €50,533 | €42,550 | -€7,983 | -15.8% |
| Transfer from deferred taxes | 780 | €9,900 | €9,900 | = | 0.0% |
| Income taxes | 67/77 | €28,381 | €26,087 | -€2,294 | -8.1% |
| Profit (loss) for the period | 9904 | €32,051 | €26,363 | -€5,688 | -17.7% |
| Transfer from tax-exempt reserves | 789 | €29,699 | €29,699 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €61,751 | €56,062 | -€5,688 | -9.2% |
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 10 October 2026 via checked.be.