A. DETHIER: 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.
A. DETHIER
Largest movements
- Receivables within one year -€613,162
down €613,162 (-91.9%), from €667,268 to €54,106
of which Other amounts receivable: -€534,250
- Stocks and contracts +€106,121
up €106,121 (+12.5%), from €851,711 to €957,832
- Cash -€81,601
down €81,601 (-60.8%), from €134,217 to €52,616
mainly Other debts (-€600,000) and Stocks and contracts (-€106,121)
- Other debts -€600,000
no longer reported in 2025 (was €600,000)
- Gross operating margin -€18,463
down €18,463 (-57.3%), from €32,238 to €13,774
- Financial income -€2,631
down €2,631 (-45.8%), from €5,749 to €3,118
- Other operating charges +€1,414
up €1,414 (+21.7%), from €6,521 to €7,935
- Depreciation +€1,059
up €1,059 (+161%), from €656 to €1,716
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 | €1,806,720 | €1,216,363 | -€590,357 | -32.7% |
| Fixed assets | 21/28 | €153,524 | €151,809 | -€1,716 | -1.1% |
| Tangible fixed assets | 22/27 | €4,491 | €2,775 | -€1,716 | -38.2% |
| Plant, machinery and equipment | 23 | €4,491 | €2,775 | -€1,716 | -38.2% |
| Financial fixed assets | 28 | €149,034 | €149,034 | = | 0.0% |
| Current assets | 29/58 | €1,653,196 | €1,064,554 | -€588,642 | -35.6% |
| Stocks and contracts in progress | 3 | €851,711 | €957,832 | +€106,121 | +12.5% |
| Stocks | 30/36 | €851,711 | €957,832 | +€106,121 | +12.5% |
| Amounts receivable within one year | 40/41 | €667,268 | €54,106 | -€613,162 | -91.9% |
| Trade receivables | 40 | €112,107 | €33,195 | -€78,912 | -70.4% |
| Other amounts receivable | 41 | €555,161 | €20,911 | -€534,250 | -96.2% |
| Cash at bank and in hand | 54/58 | €134,217 | €52,616 | -€81,601 | -60.8% |
| Total equity and liabilities | 10/49 | €1,806,720 | €1,216,363 | -€590,357 | -32.7% |
| Equity | 10/15 | €1,100,300 | €1,105,750 | +€5,450 | +0.5% |
| Contributions | 10/11 | €550,000 | €550,000 | = | 0.0% |
| Reserves | 13 | €343,569 | €343,569 | = | 0.0% |
| Tax-exempt reserves | 132 | €43,569 | €43,569 | = | 0.0% |
| Distributable reserves | 133 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €206,731 | €212,182 | +€5,450 | +2.6% |
| Amounts payable | 17/49 | €706,420 | €110,612 | -€595,808 | -84.3% |
| Amounts payable within one year | 42/48 | €704,420 | €108,612 | -€595,808 | -84.6% |
| Trade debts | 44 | €104,420 | €108,612 | +€4,192 | +4.0% |
| Suppliers | 440/4 | €104,420 | €108,612 | +€4,192 | +4.0% |
| Other amounts payable | 47/48 | €600,000 | - | -€600,000 | |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €656 | €1,716 | +€1,059 | +161% |
| Other operating charges | 640/8 | €6,521 | €7,935 | +€1,414 | +21.7% |
| Gross operating margin | 9900 | €32,238 | €13,774 | -€18,463 | -57.3% |
| Operating profit (loss) | 9901 | €25,061 | €4,124 | -€20,937 | -83.5% |
| Financial income | 75/76B | €5,749 | €3,118 | -€2,631 | -45.8% |
| Recurring financial income | 75 | €5,749 | €3,118 | -€2,631 | -45.8% |
| Financial charges | 65/66B | €1,979 | €1,792 | -€187 | -9.5% |
| Recurring financial charges | 65 | €1,979 | €1,792 | -€187 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €28,830 | €5,450 | -€23,380 | -81.1% |
| Profit (loss) for the period | 9904 | €28,830 | €5,450 | -€23,380 | -81.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,830 | €5,450 | -€23,380 | -81.1% |
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 15 October 2026 via checked.be.