DRAGON DIFFUSION: what changed
What changed
DRAGON DIFFUSION
NACE 46.423, Wholesale of clothing, excluding workwear and underwear
filed annual accounts (NBB)
Net result for the year
€4.5m
2024 · €2.7m+€1.7m
Equity
€10.1m
2024 · €6.4m+€3.7m
Cash
€9.0m
2024 · €6.8m+€2.2m
Balance sheet total
€13.9m
2024 · €8.7m+€5.2m
Largest movements
Assets
- Tangible fixed assets +€2.9m
up €2.9m (+684%), from €424,702 to €3.3m
of which Land and buildings: +€2.6m
- Cash +€2.2m
up €2.2m (+32.7%), from €6.8m to €9.0m
mainly Net result for the year (+€4.5m) and Trade debts (+€976,774)
Equity and liabilities
- Reserves +€2.1m
up €2.1m (+34.2%), from €6.0m to €8.1m
of which Distributable reserves: +€1.1m
- Profit (loss) carried forward +€1.7m
up €1.7m (+478%), from €347,754 to €2.0m
- Trade debts +€976,774
up €976,774 (+657%), from €148,597 to €1.1m
- Accrued charges and deferred income +€382,463
up €382,463 (+148%), from €258,159 to €640,622
- Tax, wage and social debts +€171,446
up €171,446 (+10.0%), from €1.7m to €1.9m
of which Taxes: +€181,849
Income statement
- Gross operating margin +€2.7m
up €2.7m (+64.4%), from €4.3m to €7.0m
- Taxes +€518,237
up €518,237 (+40.7%), from €1.3m to €1.8m
- Depreciation +€441,339
up €441,339 (+1,410%), from €31,298 to €472,637
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.
Result 2024
€2.7m
Gross operating margin
+€2.7m
Staff costs
-€55,176
Depreciation
-€441,339
Other operating charges
-€9,857
Financial income
+€9,754
Financial charges
-€1,883
Taxes
-€518,237
Result 2025
€4.5m
raises the resultlowers the result
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.
From operations
+€6.3m
Investment
-€3.4m
Financing
-€745,523
Cash 2024
€6.8m
From operations (derived)
+€6.3m
Net result for the year
+€4.5m
Depreciation
+€472,637
Stocks and contracts
-€13,753
Receivables within one year
-€82,697
Smaller working-capital items
-€2,643
Trade debts
+€976,774
Tax, wage and social debts
+€171,446
Other debts
-€30,360
Accrued charges and deferred income
+€382,463
Investment (derived)
-€3.4m
Investment in fixed assets (net)
-€3.4m
Financing
-€745,523
Debts after one year
-€10,202
Current portion of long-term debt
+€2,171
Contributions, distributions and other
-€737,492
Cash 2025
€9.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,711,762 | €13,930,510 | +€5.2m | +59.9% |
| Fixed assets | 21/28 | €424,802 | €3,331,828 | +€2.9m | +684% |
| Tangible fixed assets | 22/27 | €424,702 | €3,331,728 | +€2.9m | +684% |
| Land and buildings | 22 | €385,205 | €2,949,657 | +€2.6m | +666% |
| Plant, machinery and equipment | 23 | - | €84,021 | +€84,021 | |
| Furniture and vehicles | 24 | €39,496 | €298,049 | +€258,553 | +655% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €8,286,961 | €10,598,681 | +€2.3m | +27.9% |
| Stocks and contracts in progress | 3 | €92,402 | €106,155 | +€13,753 | +14.9% |
| Stocks | 30/36 | €92,402 | €106,155 | +€13,753 | +14.9% |
| Amounts receivable within one year | 40/41 | €1,425,496 | €1,508,193 | +€82,697 | +5.8% |
| Trade receivables | 40 | €1,230,743 | €1,289,283 | +€58,539 | +4.8% |
| Other amounts receivable | 41 | €194,752 | €218,910 | +€24,158 | +12.4% |
| Cash at bank and in hand | 54/58 | €6,769,063 | €8,980,032 | +€2.2m | +32.7% |
| Deferred charges and accrued income | 490/1 | - | €4,302 | +€4,302 | |
| Total equity and liabilities | 10/49 | €8,711,762 | €13,930,510 | +€5.2m | +59.9% |
| Equity | 10/15 | €6,424,572 | €10,149,368 | +€3.7m | +58.0% |
| Contributions | 10/11 | €43,400 | €43,400 | = | 0.0% |
| Reserves | 13 | €6,033,418 | €8,095,923 | +€2.1m | +34.2% |
| Non-distributable reserves | 130/1 | €4,340 | €4,340 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,340 | €4,340 | = | 0.0% |
| Tax-exempt reserves | 132 | €842,000 | €1,841,997 | +€999,997 | +119% |
| Distributable reserves | 133 | €5,187,078 | €6,249,586 | +€1.1m | +20.5% |
| Profit (loss) carried forward | 14 | €347,754 | €2,010,045 | +€1.7m | +478% |
| Amounts payable | 17/49 | €2,287,190 | €3,781,141 | +€1.5m | +65.3% |
| Amounts payable after more than one year | 17 | €37,065 | €26,863 | -€10,202 | -27.5% |
| Financial debts | 170/4 | €37,065 | €26,863 | -€10,202 | -27.5% |
| Amounts payable within one year | 42/48 | €1,991,966 | €3,113,656 | +€1.1m | +56.3% |
| Current portion of amounts payable after more than one year | 42 | €10,094 | €12,265 | +€2,171 | +21.5% |
| Trade debts | 44 | €148,597 | €1,125,371 | +€976,774 | +657% |
| Suppliers | 440/4 | €148,597 | €1,125,371 | +€976,774 | +657% |
| Advances received on contracts in progress | 46 | €4,504 | €6,163 | +€1,659 | +36.8% |
| Taxes, remuneration and social security | 45 | €1,708,301 | €1,879,747 | +€171,446 | +10.0% |
| Taxes | 450/3 | €1,674,279 | €1,856,128 | +€181,849 | +10.9% |
| Remuneration and social security | 454/9 | €34,023 | €23,619 | -€10,403 | -30.6% |
| Other amounts payable | 47/48 | €120,469 | €90,109 | -€30,360 | -25.2% |
| Accrued charges and deferred income | 492/3 | €258,159 | €640,622 | +€382,463 | +148% |
| Remuneration, social security and pensions | 62 | €104,681 | €159,857 | +€55,176 | +52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,298 | €472,637 | +€441,339 | +1,410% |
| Other operating charges | 640/8 | €8,112 | €17,969 | +€9,857 | +122% |
| Gross operating margin | 9900 | €4,259,203 | €7,002,830 | +€2.7m | +64.4% |
| Operating profit (loss) | 9901 | €4,115,112 | €6,352,366 | +€2.2m | +54.4% |
| Financial income | 75/76B | €5,493 | €15,247 | +€9,754 | +178% |
| Recurring financial income | 75 | €5,493 | €15,247 | +€9,754 | +178% |
| Financial charges | 65/66B | €112,617 | €114,499 | +€1,883 | +1.7% |
| Recurring financial charges | 65 | €112,617 | €114,499 | +€1,883 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €4,007,989 | €6,253,113 | +€2.2m | +56.0% |
| Income taxes | 67/77 | €1,272,589 | €1,790,825 | +€518,237 | +40.7% |
| Profit (loss) for the period | 9904 | €2,735,400 | €4,462,288 | +€1.7m | +63.1% |
| Transfer to tax-exempt reserves | 689 | €421,000 | €999,997 | +€578,997 | +138% |
| Profit (loss) for the period to be appropriated | 9905 | €2,314,400 | €3,462,291 | +€1.1m | +49.6% |
Next steps
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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 2 November 2026 via checked.be.