BERNARD DHONT: 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.
BERNARD DHONT
Largest movements
- Tangible fixed assets +€24,280
up €24,280 (+741%), from €3,276 to €27,556
of which Furniture and vehicles: +€24,504
- Cash +€7,618
up €7,618 (+7.5%), from €101,426 to €109,045
mainly Net result for the year (+€20,610) and Debts after one year (+€7,315)
- Reserves +€20,610
up €20,610 (+24.8%), from €83,180 to €103,789
- Debts after one year +€7,315
up €7,315, from €0 to €7,315
- Current portion of long-term debt +€2,411
up €2,411 (+84.3%), from €2,859 to €5,270
- Trade debts +€2,410
up €2,410 (+81.9%), from €2,943 to €5,354
- Gross operating margin +€7,023
up €7,023 (+25.1%), from €27,966 to €34,989
- Taxes +€1,778
up €1,778 (+29.1%), from €6,103 to €7,881
- Depreciation +€416
up €416 (+9.2%), from €4,535 to €4,951
- Financial charges +€364
up €364 (+254%), from €143 to €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.
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 | €110,910 | €144,125 | +€33,215 | +29.9% |
| Fixed assets | 21/28 | €3,301 | €27,581 | +€24,280 | +736% |
| Tangible fixed assets | 22/27 | €3,276 | €27,556 | +€24,280 | +741% |
| Plant, machinery and equipment | 23 | €659 | €435 | -€224 | -33.9% |
| Furniture and vehicles | 24 | €2,617 | €27,121 | +€24,504 | +936% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €107,609 | €116,544 | +€8,935 | +8.3% |
| Stocks and contracts in progress | 3 | €1,500 | €2,373 | +€873 | +58.2% |
| Stocks | 30/36 | €1,500 | €2,373 | +€873 | +58.2% |
| Amounts receivable within one year | 40/41 | €2,881 | €2,544 | -€337 | -11.7% |
| Trade receivables | 40 | €1,760 | €949 | -€811 | -46.1% |
| Other amounts receivable | 41 | €1,121 | €1,595 | +€474 | +42.3% |
| Cash at bank and in hand | 54/58 | €101,426 | €109,045 | +€7,618 | +7.5% |
| Deferred charges and accrued income | 490/1 | €1,802 | €2,582 | +€780 | +43.3% |
| Total equity and liabilities | 10/49 | €110,910 | €144,125 | +€33,215 | +29.9% |
| Equity | 10/15 | €101,780 | €122,389 | +€20,610 | +20.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €83,180 | €103,789 | +€20,610 | +24.8% |
| Distributable reserves | 133 | €83,180 | €103,789 | +€20,610 | +24.8% |
| Amounts payable | 17/49 | €9,130 | €21,735 | +€12,606 | +138% |
| Amounts payable after more than one year | 17 | €0 | €7,315 | +€7,315 | |
| Financial debts | 170/4 | €0 | €7,315 | +€7,315 | |
| Amounts payable within one year | 42/48 | €7,566 | €12,753 | +€5,187 | +68.6% |
| Current portion of amounts payable after more than one year | 42 | €2,859 | €5,270 | +€2,411 | +84.3% |
| Trade debts | 44 | €2,943 | €5,354 | +€2,410 | +81.9% |
| Suppliers | 440/4 | €2,943 | €5,354 | +€2,410 | +81.9% |
| Taxes, remuneration and social security | 45 | €1,698 | €2,079 | +€381 | +22.4% |
| Taxes | 450/3 | €1,698 | €2,079 | +€381 | +22.4% |
| Other amounts payable | 47/48 | €65 | €50 | -€16 | -23.8% |
| Accrued charges and deferred income | 492/3 | €1,564 | €1,667 | +€103 | +6.6% |
| Non-recurring operating income | 76A | €0 | €6,282 | +€6,282 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,535 | €4,951 | +€416 | +9.2% |
| Other operating charges | 640/8 | €1,089 | €1,047 | -€41 | -3.8% |
| Gross operating margin | 9900 | €27,966 | €34,989 | +€7,023 | +25.1% |
| Operating profit (loss) | 9901 | €22,343 | €28,991 | +€6,648 | +29.8% |
| Financial income | 75/76B | €1 | €7 | +€6 | +651% |
| Recurring financial income | 75 | €1 | €7 | +€6 | +651% |
| Financial charges | 65/66B | €143 | €507 | +€364 | +254% |
| Recurring financial charges | 65 | €143 | €507 | +€364 | +254% |
| Profit (loss) for the period before taxes | 9903 | €22,201 | €28,491 | +€6,290 | +28.3% |
| Income taxes | 67/77 | €6,103 | €7,881 | +€1,778 | +29.1% |
| Profit (loss) for the period | 9904 | €16,098 | €20,610 | +€4,512 | +28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,098 | €20,610 | +€4,512 | +28.0% |
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 21 October 2026 via checked.be.