DGA: 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.
DGA
Largest movements
- Tangible fixed assets +€486,697
up €486,697 (+240%), from €202,890 to €689,587
of which Other tangible fixed assets: +€389,698
- Financial fixed assets +€353,100
up €353,100 (+7,062%), from €5,000 to €358,100
- Cash -€117,490
down €117,490 (-95.3%), from €123,261 to €5,771
mainly Investment in fixed assets (net) (-€923,434) and Net result for the year (-€173,854)
- Receivables within one year +€44,793
up €44,793 (+77.3%), from €57,924 to €102,717
- Trade debts +€340,210
up €340,210 (+411%), from €82,840 to €423,050
- Debts after one year +€303,112
up €303,112 (+1,538%), from €19,709 to €322,821
- Other debts +€242,605
up €242,605 (+103%), from €236,333 to €478,938
- Profit (loss) carried forward -€173,854
down €173,854, from €23,041 to -€150,813
- Current portion of long-term debt +€42,196
up €42,196 (+420%), from €10,056 to €52,253
- Depreciation +€67,467
up €67,467 (+417%), from €16,170 to €83,637
- Gross operating margin -€41,594
down €41,594 (-54.0%), from €76,982 to €35,389
- Other operating charges +€29,037
up €29,037 (+57.2%), from €50,734 to €79,770
- Staff costs +€15,253
up €15,253 (+114%), from €13,380 to €28,633
- Financial charges +€10,160
up €10,160 (+144%), from €7,071 to €17,231
of which Financial charges: +€8,360
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €396,338 | €1,157,875 | +€761,537 | +192% |
| Fixed assets | 21/28 | €207,890 | €1,047,687 | +€839,797 | +404% |
| Tangible fixed assets | 22/27 | €202,890 | €689,587 | +€486,697 | +240% |
| Plant, machinery and equipment | 23 | €201,954 | €96,880 | -€105,074 | -52.0% |
| Furniture and vehicles | 24 | €936 | €203,009 | +€202,073 | +21,589% |
| Other tangible fixed assets | 26 | - | €389,698 | +€389,698 | |
| Financial fixed assets | 28 | €5,000 | €358,100 | +€353,100 | +7,062% |
| Current assets | 29/58 | €188,448 | €110,188 | -€78,260 | -41.5% |
| Stocks and contracts in progress | 3 | €5,614 | €1,700 | -€3,914 | -69.7% |
| Stocks | 30/36 | €5,614 | €1,700 | -€3,914 | -69.7% |
| Amounts receivable within one year | 40/41 | €57,924 | €102,717 | +€44,793 | +77.3% |
| Trade receivables | 40 | €57,924 | €102,717 | +€44,793 | +77.3% |
| Cash at bank and in hand | 54/58 | €123,261 | €5,771 | -€117,490 | -95.3% |
| Deferred charges and accrued income | 490/1 | €1,648 | - | -€1,648 | |
| Total equity and liabilities | 10/49 | €396,338 | €1,157,875 | +€761,537 | +192% |
| Equity | 10/15 | €33,041 | -€140,813 | -€173,854 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,041 | -€150,813 | -€173,854 | |
| Amounts payable | 17/49 | €363,297 | €1,298,689 | +€935,391 | +257% |
| Amounts payable after more than one year | 17 | €19,709 | €322,821 | +€303,112 | +1,538% |
| Financial debts | 170/4 | €19,709 | €322,821 | +€303,112 | +1,538% |
| Amounts payable within one year | 42/48 | €343,588 | €975,867 | +€632,279 | +184% |
| Current portion of amounts payable after more than one year | 42 | €10,056 | €52,253 | +€42,196 | +420% |
| Trade debts | 44 | €82,840 | €423,050 | +€340,210 | +411% |
| Suppliers | 440/4 | €82,840 | €423,050 | +€340,210 | +411% |
| Taxes, remuneration and social security | 45 | €14,359 | €21,626 | +€7,266 | +50.6% |
| Taxes | 450/3 | €11,506 | €15,101 | +€3,595 | +31.3% |
| Remuneration and social security | 454/9 | €2,854 | €6,525 | +€3,671 | +129% |
| Other amounts payable | 47/48 | €236,333 | €478,938 | +€242,605 | +103% |
| Remuneration, social security and pensions | 62 | €13,380 | €28,633 | +€15,253 | +114% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,170 | €83,637 | +€67,467 | +417% |
| Other operating charges | 640/8 | €50,734 | €79,770 | +€29,037 | +57.2% |
| Non-recurring operating charges | 66A | €4 | - | -€4 | |
| Gross operating margin | 9900 | €76,982 | €35,389 | -€41,594 | -54.0% |
| Operating profit (loss) | 9901 | -€3,306 | -€156,652 | -€153,346 | -4,639% |
| Financial income | 75/76B | €1 | €28 | +€27 | +2,914% |
| Recurring financial income | 75 | €1 | €28 | +€27 | +2,914% |
| Financial charges | 65/66B | €7,071 | €17,231 | +€10,160 | +144% |
| Recurring financial charges | 65 | €7,071 | €15,431 | +€8,360 | +118% |
| Non-recurring financial charges | 66B | - | €1,800 | +€1,800 | |
| Profit (loss) for the period before taxes | 9903 | -€10,375 | -€173,854 | -€163,478 | -1,576% |
| Profit (loss) for the period | 9904 | -€10,375 | -€173,854 | -€163,478 | -1,576% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,375 | -€173,854 | -€163,478 | -1,576% |
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 28 October 2026 via checked.be.