D+: 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.
D+
Largest movements
- Tangible fixed assets +€17,598
up €17,598 (+74.3%), from €23,684 to €41,281
of which Furniture and vehicles: +€22,297
- Receivables within one year +€4,372
up €4,372 (+4.4%), from €100,263 to €104,635
of which Other amounts receivable: +€13,889
- Cash -€3,060
down €3,060 (-94.7%), from €3,231 to €171
mainly Trade debts (-€35,720) and Investment in fixed assets (net) (-€30,362)
- Profit (loss) carried forward +€48,639
up €48,639 (+78.7%), from €61,827 to €110,466
- Trade debts -€35,720
down €35,720 (-96.9%), from €36,865 to €1,145
- Tax, wage and social debts +€13,970
up €13,970 (+307.4%), from €4,544 to €18,514
- Accrued charges and deferred income -€7,980
down €7,980 (-95.2%), from €8,380 to €400
- Gross operating margin +€33,754
up €33,754 (+90.0%), from €37,493 to €71,247
- Taxes +€6,552
up €6,552 (+94.2%), from €6,952 to €13,504
- Depreciation +€6,334
up €6,334 (+98.5%), from €6,430 to €12,764
- Financial charges -€1,992
down €1,992 (-74.1%), from €2,689 to €697
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 | €127,177 | €146,087 | +€18,910 | +14.9% |
| Fixed assets | 21/28 | €23,684 | €41,281 | +€17,598 | +74.3% |
| Tangible fixed assets | 22/27 | €23,684 | €41,281 | +€17,598 | +74.3% |
| Plant, machinery and equipment | 23 | €15,691 | €10,991 | -€4,700 | -30.0% |
| Furniture and vehicles | 24 | €7,993 | €30,290 | +€22,297 | +279.0% |
| Current assets | 29/58 | €103,494 | €104,806 | +€1,312 | +1.3% |
| Amounts receivable within one year | 40/41 | €100,263 | €104,635 | +€4,372 | +4.4% |
| Trade receivables | 40 | €17,750 | €8,234 | -€9,516 | -53.6% |
| Other amounts receivable | 41 | €82,512 | €96,401 | +€13,889 | +16.8% |
| Cash at bank and in hand | 54/58 | €3,231 | €171 | -€3,060 | -94.7% |
| Total equity and liabilities | 10/49 | €127,177 | €146,087 | +€18,910 | +14.9% |
| Equity | 10/15 | €77,388 | €126,028 | +€48,639 | +62.9% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €8,562 | €8,562 | = | 0.0% |
| Distributable reserves | 133 | €8,562 | €8,562 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,827 | €110,466 | +€48,639 | +78.7% |
| Amounts payable | 17/49 | €49,789 | €20,059 | -€29,730 | -59.7% |
| Amounts payable within one year | 42/48 | €41,409 | €19,660 | -€21,750 | -52.5% |
| Trade debts | 44 | €36,865 | €1,145 | -€35,720 | -96.9% |
| Suppliers | 440/4 | €36,865 | €1,145 | -€35,720 | -96.9% |
| Taxes, remuneration and social security | 45 | €4,544 | €18,514 | +€13,970 | +307.4% |
| Taxes | 450/3 | €4,544 | €18,514 | +€13,970 | +307.4% |
| Accrued charges and deferred income | 492/3 | €8,380 | €400 | -€7,980 | -95.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,430 | €12,764 | +€6,334 | +98.5% |
| Other operating charges | 640/8 | €387 | €450 | +€62 | +16.1% |
| Gross operating margin | 9900 | €37,493 | €71,247 | +€33,754 | +90.0% |
| Operating profit (loss) | 9901 | €30,675 | €58,033 | +€27,358 | +89.2% |
| Financial income | 75/76B | €4,649 | €4,807 | +€158 | +3.4% |
| Recurring financial income | 75 | €4,649 | €4,807 | +€158 | +3.4% |
| Financial charges | 65/66B | €2,689 | €697 | -€1,992 | -74.1% |
| Recurring financial charges | 65 | €2,689 | €697 | -€1,992 | -74.1% |
| Profit (loss) for the period before taxes | 9903 | €32,635 | €62,143 | +€29,509 | +90.4% |
| Income taxes | 67/77 | €6,952 | €13,504 | +€6,552 | +94.2% |
| Profit (loss) for the period | 9904 | €25,683 | €48,639 | +€22,957 | +89.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,683 | €48,639 | +€22,957 | +89.4% |
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 12 October 2026 via checked.be.