D 75: 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 75
Largest movements
- Receivables within one year +€181,807
up €181,807 (+106%), from €170,924 to €352,731
of which Other amounts receivable: +€108,879
- Tangible fixed assets -€158,536
down €158,536 (-75.4%), from €210,373 to €51,837
of which Land and buildings: -€104,871
- Cash +€40,400
up €40,400 (+13.6%), from €297,748 to €338,148
mainly Investment in fixed assets (net) (+€136,455) and Other debts (+€98,826)
- Receivables after one year -€40,180
down €40,180 (-65.3%), from €61,555 to €21,375
- Other debts +€98,826
up €98,826 (+465%), from €21,250 to €120,076
- Reserves -€67,162
down €67,162 (-13.3%), from €503,364 to €436,203
of which Distributable reserves: -€67,162
- Debts after one year -€18,473
down €18,473 (-49.7%), from €37,177 to €18,704
- Tax, wage and social debts +€12,589
up €12,589 (+422%), from €2,981 to €15,569
- Gross operating margin -€35,175
down €35,175 (-27.9%), from €126,217 to €91,042
- Taxes -€13,916
down €13,916 (-46.7%), from €29,788 to €15,872
- Financial income +€3,695
up €3,695 (+98.9%), from €3,735 to €7,430
- Other operating charges -€2,347
down €2,347 (-34.6%), from €6,774 to €4,427
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 | €758,950 | €786,204 | +€27,253 | +3.6% |
| Fixed assets | 21/28 | €224,373 | €65,837 | -€158,536 | -70.7% |
| Tangible fixed assets | 22/27 | €210,373 | €51,837 | -€158,536 | -75.4% |
| Land and buildings | 22 | €114,013 | €9,142 | -€104,871 | -92.0% |
| Plant, machinery and equipment | 23 | €1,599 | €0 | -€1,599 | -100% |
| Furniture and vehicles | 24 | €10,105 | €5,249 | -€4,856 | -48.1% |
| Leasing and similar rights | 25 | €55,694 | €37,446 | -€18,248 | -32.8% |
| Other tangible fixed assets | 26 | €28,962 | €0 | -€28,962 | -100% |
| Financial fixed assets | 28 | €14,000 | €14,000 | = | 0.0% |
| Current assets | 29/58 | €534,577 | €720,367 | +€185,790 | +34.8% |
| Amounts receivable after more than one year | 29 | €61,555 | €21,375 | -€40,180 | -65.3% |
| Other amounts receivable | 291 | €61,555 | €21,375 | -€40,180 | -65.3% |
| Amounts receivable within one year | 40/41 | €170,924 | €352,731 | +€181,807 | +106% |
| Trade receivables | 40 | €95,994 | €168,922 | +€72,928 | +76.0% |
| Other amounts receivable | 41 | €74,930 | €183,809 | +€108,879 | +145% |
| Cash at bank and in hand | 54/58 | €297,748 | €338,148 | +€40,400 | +13.6% |
| Deferred charges and accrued income | 490/1 | €4,350 | €8,114 | +€3,763 | +86.5% |
| Total equity and liabilities | 10/49 | €758,950 | €786,204 | +€27,253 | +3.6% |
| Equity | 10/15 | €617,564 | €550,403 | -€67,162 | -10.9% |
| Contributions | 10/11 | €114,200 | €114,200 | = | 0.0% |
| Reserves | 13 | €503,364 | €436,203 | -€67,162 | -13.3% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €503,364 | €436,203 | -€67,162 | -13.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €141,386 | €235,801 | +€94,415 | +66.8% |
| Amounts payable after more than one year | 17 | €37,177 | €18,704 | -€18,473 | -49.7% |
| Financial debts | 170/4 | €37,177 | €18,704 | -€18,473 | -49.7% |
| Amounts payable within one year | 42/48 | €104,043 | €216,931 | +€112,888 | +109% |
| Current portion of amounts payable after more than one year | 42 | €18,245 | €18,473 | +€228 | +1.3% |
| Financial debts | 43 | €24,104 | €24,221 | +€117 | +0.5% |
| Credit institutions | 430/8 | €354 | €471 | +€117 | +33.0% |
| Other loans | 439 | €23,750 | €23,750 | = | 0.0% |
| Trade debts | 44 | €37,464 | €38,592 | +€1,128 | +3.0% |
| Suppliers | 440/4 | €37,464 | €38,592 | +€1,128 | +3.0% |
| Taxes, remuneration and social security | 45 | €2,981 | €15,569 | +€12,589 | +422% |
| Taxes | 450/3 | €2,981 | €15,569 | +€12,589 | +422% |
| Other amounts payable | 47/48 | €21,250 | €120,076 | +€98,826 | +465% |
| Accrued charges and deferred income | 492/3 | €166 | €166 | = | 0.0% |
| Non-recurring operating income | 76A | €8,000 | €0 | -€8,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,084 | €22,081 | -€2 | 0.0% |
| Other operating charges | 640/8 | €6,774 | €4,427 | -€2,347 | -34.6% |
| Non-recurring operating charges | 66A | - | €16,335 | +€16,335 | |
| Gross operating margin | 9900 | €126,217 | €91,042 | -€35,175 | -27.9% |
| Operating profit (loss) | 9901 | €97,359 | €48,199 | -€49,160 | -50.5% |
| Financial income | 75/76B | €3,735 | €7,430 | +€3,695 | +98.9% |
| Recurring financial income | 75 | €3,735 | €7,430 | +€3,695 | +98.9% |
| Financial charges | 65/66B | €2,323 | €2,841 | +€519 | +22.3% |
| Recurring financial charges | 65 | €2,323 | €2,841 | +€519 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | €98,771 | €52,787 | -€45,983 | -46.6% |
| Income taxes | 67/77 | €29,788 | €15,872 | -€13,916 | -46.7% |
| Profit (loss) for the period | 9904 | €68,983 | €36,916 | -€32,067 | -46.5% |
| Transfer from tax-exempt reserves | 789 | €17,804 | €0 | -€17,804 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €86,786 | €36,916 | -€49,870 | -57.5% |
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 26 October 2026 via checked.be.