AS-D.BE: 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.
AS-D.BE
Largest movements
- Receivables within one year +€24,460
up €24,460 (+60.8%), from €40,205 to €64,665
of which Trade receivables: +€28,316
- Cash -€16,396
down €16,396 (-35.7%), from €45,874 to €29,478
mainly Receivables within one year (-€24,460) and Investment in fixed assets (net) (-€7,383)
- Deferred charges and accrued income +€3,529
up €3,529, from €0 to €3,529
- Tangible fixed assets +€3,081
up €3,081 (+30.8%), from €10,000 to €13,081
of which Plant, machinery and equipment: +€4,584
- Reserves +€11,017
up €11,017 (+19.9%), from €55,371 to €66,388
- Trade debts +€7,502
up €7,502 (+55.8%), from €13,452 to €20,954
- Contributions -€1,860
down €1,860 (-9.1%), from €20,460 to €18,600
- Financial income +€16,299
up €16,299, from €0 to €16,299
of which Financial income: +€16,299
- Taxes +€3,926
up €3,926 (+774.9%), from €507 to €4,433
- Financial charges +€3,829
up €3,829 (+125.6%), from €3,050 to €6,879
- Gross operating margin -€2,678
down €2,678 (-22.4%), from €11,948 to €9,270
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 | €96,109 | €110,783 | +€14,674 | +15.3% |
| Fixed assets | 21/28 | €10,030 | €13,111 | +€3,081 | +30.7% |
| Tangible fixed assets | 22/27 | €10,000 | €13,081 | +€3,081 | +30.8% |
| Plant, machinery and equipment | 23 | €7,445 | €12,028 | +€4,584 | +61.6% |
| Furniture and vehicles | 24 | €1,985 | €775 | -€1,210 | -61.0% |
| Other tangible fixed assets | 26 | €570 | €277 | -€293 | -51.3% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €86,079 | €97,672 | +€11,593 | +13.5% |
| Amounts receivable within one year | 40/41 | €40,205 | €64,665 | +€24,460 | +60.8% |
| Trade receivables | 40 | €9,249 | €37,565 | +€28,316 | +306.1% |
| Other amounts receivable | 41 | €30,956 | €27,100 | -€3,856 | -12.5% |
| Cash at bank and in hand | 54/58 | €45,874 | €29,478 | -€16,396 | -35.7% |
| Deferred charges and accrued income | 490/1 | €0 | €3,529 | +€3,529 | |
| Total equity and liabilities | 10/49 | €96,109 | €110,783 | +€14,674 | +15.3% |
| Equity | 10/15 | €75,831 | €84,988 | +€9,157 | +12.1% |
| Contributions | 10/11 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Reserves | 13 | €55,371 | €66,388 | +€11,017 | +19.9% |
| Distributable reserves | 133 | €55,371 | €66,388 | +€11,017 | +19.9% |
| Amounts payable | 17/49 | €20,278 | €25,794 | +€5,517 | +27.2% |
| Amounts payable within one year | 42/48 | €20,278 | €25,794 | +€5,517 | +27.2% |
| Financial debts | 43 | €3,525 | €2,641 | -€884 | -25.1% |
| Credit institutions | 430/8 | €3,525 | €2,641 | -€884 | -25.1% |
| Trade debts | 44 | €13,452 | €20,954 | +€7,502 | +55.8% |
| Suppliers | 440/4 | €13,452 | €20,954 | +€7,502 | +55.8% |
| Taxes, remuneration and social security | 45 | €3,300 | €2,199 | -€1,101 | -33.4% |
| Taxes | 450/3 | €3,300 | €2,199 | -€1,101 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,366 | €4,302 | -€65 | -1.5% |
| Other operating charges | 640/8 | €847 | €799 | -€49 | -5.8% |
| Gross operating margin | 9900 | €11,948 | €9,270 | -€2,678 | -22.4% |
| Operating profit (loss) | 9901 | €6,734 | €4,170 | -€2,564 | -38.1% |
| Financial income | 75/76B | €0 | €16,299 | +€16,299 | |
| Recurring financial income | 75 | €0 | €16,299 | +€16,299 | |
| Non-recurring financial income | 76B | - | €16,299 | +€16,299 | |
| Financial charges | 65/66B | €3,050 | €6,879 | +€3,829 | +125.6% |
| Recurring financial charges | 65 | €3,050 | €6,879 | +€3,829 | +125.6% |
| Profit (loss) for the period before taxes | 9903 | €3,684 | €13,590 | +€9,906 | +268.9% |
| Income taxes | 67/77 | €507 | €4,433 | +€3,926 | +774.9% |
| Profit (loss) for the period | 9904 | €3,178 | €9,157 | +€5,980 | +188.2% |
| Profit (loss) for the period to be appropriated | 9905 | €3,178 | €9,157 | +€5,980 | +188.2% |
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 6 October 2026 via checked.be.