ALEXANDRA DOCHY: what changed
Two fiscal 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.
ALEXANDRA DOCHY
Largest movements
- Receivables within one year +€57,196
up €57,196 (+47.6%), from €120,091 to €177,287
of which Trade receivables: +€70,529
- Profit (loss) carried forward +€136,965
up €136,965 (+21080.4%), from €650 to €137,615
- Current portion of long-term debt -€66,425
down €66,425 (-69.7%), from €95,258 to €28,833
- Gross operating margin +€42,345
up €42,345 (+18.3%), from €231,564 to €273,908
- Financial charges +€14,292
up €14,292 (+20.1%), from €71,175 to €85,467
- Taxes +€9,654
up €9,654 (+24.0%), from €40,268 to €49,923
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 | €2,937,816 | €3,000,450 | +€62,634 | +2.1% |
| Fixed assets | 21/28 | €2,789,286 | €2,788,219 | -€1,068 | 0.0% |
| Tangible fixed assets | 22/27 | €7,117 | €6,049 | -€1,068 | -15.0% |
| Other tangible fixed assets | 26 | €7,117 | €6,049 | -€1,068 | -15.0% |
| Financial fixed assets | 28 | €2,782,170 | €2,782,170 | = | 0.0% |
| Current assets | 29/58 | €148,530 | €212,231 | +€63,702 | +42.9% |
| Amounts receivable within one year | 40/41 | €120,091 | €177,287 | +€57,196 | +47.6% |
| Trade receivables | 40 | €96,800 | €167,329 | +€70,529 | +72.9% |
| Other amounts receivable | 41 | €23,291 | €9,958 | -€13,333 | -57.2% |
| Cash at bank and in hand | 54/58 | €28,438 | €34,944 | +€6,506 | +22.9% |
| Total equity and liabilities | 10/49 | €2,937,816 | €3,000,450 | +€62,634 | +2.1% |
| Equity | 10/15 | €1,541,588 | €1,678,553 | +€136,965 | +8.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,522,338 | €1,522,338 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,520,478 | €1,520,478 | = | 0.0% |
| Profit (loss) carried forward | 14 | €650 | €137,615 | +€136,965 | +21080.4% |
| Amounts payable | 17/49 | €1,396,229 | €1,321,897 | -€74,331 | -5.3% |
| Amounts payable after more than one year | 17 | €59,649 | €30,816 | -€28,833 | -48.3% |
| Financial debts | 170/4 | €59,649 | €30,816 | -€28,833 | -48.3% |
| Amounts payable within one year | 42/48 | €1,292,850 | €1,234,086 | -€58,764 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €95,258 | €28,833 | -€66,425 | -69.7% |
| Trade debts | 44 | €107 | €1,079 | +€972 | +906.9% |
| Suppliers | 440/4 | €107 | €1,079 | +€972 | +906.9% |
| Taxes, remuneration and social security | 45 | €18,741 | €32,264 | +€13,523 | +72.2% |
| Taxes | 450/3 | €18,741 | €32,264 | +€13,523 | +72.2% |
| Other amounts payable | 47/48 | €1,178,743 | €1,171,910 | -€6,834 | -0.6% |
| Accrued charges and deferred income | 492/3 | €43,730 | €56,995 | +€13,266 | +30.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €945 | €1,068 | +€122 | +12.9% |
| Other operating charges | 640/8 | €482 | €486 | +€4 | +0.8% |
| Gross operating margin | 9900 | €231,564 | €273,908 | +€42,345 | +18.3% |
| Operating profit (loss) | 9901 | €230,137 | €272,355 | +€42,218 | +18.3% |
| Financial charges | 65/66B | €71,175 | €85,467 | +€14,292 | +20.1% |
| Recurring financial charges | 65 | €71,175 | €85,467 | +€14,292 | +20.1% |
| Profit (loss) for the period before taxes | 9903 | €158,962 | €186,888 | +€27,926 | +17.6% |
| Income taxes | 67/77 | €40,268 | €49,923 | +€9,654 | +24.0% |
| Profit (loss) for the period | 9904 | €118,693 | €136,965 | +€18,272 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €118,693 | €136,965 | +€18,272 | +15.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.