BELGIUM DEVELOPMENT SERVICES MULTI: 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.
BELGIUM DEVELOPMENT SERVICES MULTI
Largest movements
- Receivables within one year -€23,279
down €23,279 (-18.5%), from €125,809 to €102,531
of which Trade receivables: -€20,834
- Deferred charges and accrued income +€3,684
up €3,684 (+56.5%), from €6,524 to €10,208
- Cash +€2,478
up €2,478 (+20.2%), from €12,284 to €14,762
mainly Receivables within one year (+€23,279) and Net result for the year (+€15,890)
- Tangible fixed assets +€1,842
up €1,842 (+41.6%), from €4,432 to €6,275
of which Furniture and vehicles: +€2,277
- Trade debts -€19,483
down €19,483 (-32.7%), from €59,648 to €40,166
- Profit (loss) carried forward +€15,890
up €15,890 (+26.9%), from €59,159 to €75,050
- Tax, wage and social debts -€11,682
down €11,682 (-50.6%), from €23,070 to €11,389
- Gross operating margin +€8,659
up €8,659 (+41.8%), from €20,735 to €29,394
- Taxes -€5,534
down €5,534 (-50.1%), from €11,044 to €5,510
- Depreciation +€580
up €580 (+41.1%), from €1,412 to €1,992
- Financial charges -€525
down €525 (-13.0%), from €4,033 to €3,507
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 | €149,049 | €133,775 | -€15,274 | -10.2% |
| Fixed assets | 21/28 | €4,432 | €6,275 | +€1,842 | +41.6% |
| Tangible fixed assets | 22/27 | €4,432 | €6,275 | +€1,842 | +41.6% |
| Plant, machinery and equipment | 23 | €2,395 | €1,960 | -€435 | -18.1% |
| Furniture and vehicles | 24 | €2,037 | €4,314 | +€2,277 | +111.8% |
| Current assets | 29/58 | €144,617 | €127,501 | -€17,116 | -11.8% |
| Amounts receivable within one year | 40/41 | €125,809 | €102,531 | -€23,279 | -18.5% |
| Trade receivables | 40 | €89,892 | €69,058 | -€20,834 | -23.2% |
| Other amounts receivable | 41 | €35,918 | €33,473 | -€2,445 | -6.8% |
| Cash at bank and in hand | 54/58 | €12,284 | €14,762 | +€2,478 | +20.2% |
| Deferred charges and accrued income | 490/1 | €6,524 | €10,208 | +€3,684 | +56.5% |
| Total equity and liabilities | 10/49 | €149,049 | €133,775 | -€15,274 | -10.2% |
| Equity | 10/15 | €66,331 | €82,221 | +€15,890 | +24.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €971 | €971 | = | 0.0% |
| Non-distributable reserves | 130/1 | €971 | €971 | = | 0.0% |
| Reserves not available under the articles | 1311 | €971 | €0 | -€971 | -100.0% |
| Other | 1319 | - | €971 | +€971 | |
| Profit (loss) carried forward | 14 | €59,159 | €75,050 | +€15,890 | +26.9% |
| Amounts payable | 17/49 | €82,719 | €51,554 | -€31,164 | -37.7% |
| Amounts payable within one year | 42/48 | €82,719 | €51,554 | -€31,164 | -37.7% |
| Trade debts | 44 | €59,648 | €40,166 | -€19,483 | -32.7% |
| Suppliers | 440/4 | €59,648 | €40,166 | -€19,483 | -32.7% |
| Taxes, remuneration and social security | 45 | €23,070 | €11,389 | -€11,682 | -50.6% |
| Taxes | 450/3 | €23,070 | €11,389 | -€11,682 | -50.6% |
| Non-recurring operating income | 76A | €925 | €0 | -€925 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,412 | €1,992 | +€580 | +41.1% |
| Other operating charges | 640/8 | €2,566 | €2,539 | -€28 | -1.1% |
| Non-recurring operating charges | 66A | €39,854 | €0 | -€39,854 | -100.0% |
| Gross operating margin | 9900 | €20,735 | €29,394 | +€8,659 | +41.8% |
| Operating profit (loss) | 9901 | -€23,098 | €24,863 | +€47,961 | |
| Financial income | 75/76B | €5 | €45 | +€40 | +792.1% |
| Recurring financial income | 75 | €5 | €45 | +€40 | +792.1% |
| Financial charges | 65/66B | €4,033 | €3,507 | -€525 | -13.0% |
| Recurring financial charges | 65 | €4,033 | €3,507 | -€525 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | -€27,125 | €21,400 | +€48,526 | |
| Income taxes | 67/77 | €11,044 | €5,510 | -€5,534 | -50.1% |
| Profit (loss) for the period | 9904 | -€38,169 | €15,890 | +€54,060 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,169 | €15,890 | +€54,060 |
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.