D & A Management: 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.
D & A Management
Largest movements
- Stocks and contracts -€8,996
no longer reported in 2025 (was €8,996)
- Cash +€2,618
up €2,618 (+32.4%), from €8,080 to €10,698
mainly Net result for the year (+€18,942) and Stocks and contracts (+€8,996)
- Tangible fixed assets +€1,887
up €1,887 (+28.3%), from €6,665 to €8,552
of which Furniture and vehicles: +€1,603
- Receivables within one year +€1,477
up €1,477 (+9.7%), from €15,181 to €16,658
of which Other amounts receivable: +€5,861
- Deferred charges and accrued income +€1,364
up €1,364 (+226.9%), from €601 to €1,965
- Other debts -€20,005
no longer reported in 2025 (was €20,005)
- Reserves +€18,942
up €18,942 (+70.2%), from €26,979 to €45,921
- Trade debts -€567
down €567 (-50.4%), from €1,127 to €559
- Financial charges +€9,553
up €9,553 (+1540.6%), from €620 to €10,173
of which Non-recurring financial charges: +€9,612
- Gross operating margin +€8,671
up €8,671 (+27.2%), from €31,886 to €40,558
- Taxes +€5,440
up €5,440 (+572.6%), from €950 to €6,390
- Financial income -€482
down €482 (-96.7%), from €499 to €17
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 | €39,523 | €37,873 | -€1,650 | -4.2% |
| Fixed assets | 21/28 | €6,665 | €8,552 | +€1,887 | +28.3% |
| Tangible fixed assets | 22/27 | €6,665 | €8,552 | +€1,887 | +28.3% |
| Plant, machinery and equipment | 23 | €6,262 | €6,547 | +€285 | +4.6% |
| Furniture and vehicles | 24 | €403 | €2,005 | +€1,603 | +397.9% |
| Current assets | 29/58 | €32,859 | €29,321 | -€3,538 | -10.8% |
| Stocks and contracts in progress | 3 | €8,996 | - | -€8,996 | |
| Stocks | 30/36 | €8,996 | - | -€8,996 | |
| Amounts receivable within one year | 40/41 | €15,181 | €16,658 | +€1,477 | +9.7% |
| Trade receivables | 40 | €15,181 | €10,797 | -€4,384 | -28.9% |
| Other amounts receivable | 41 | - | €5,861 | +€5,861 | |
| Cash at bank and in hand | 54/58 | €8,080 | €10,698 | +€2,618 | +32.4% |
| Deferred charges and accrued income | 490/1 | €601 | €1,965 | +€1,364 | +226.9% |
| Total equity and liabilities | 10/49 | €39,523 | €37,873 | -€1,650 | -4.2% |
| Equity | 10/15 | €12,151 | €31,093 | +€18,942 | +155.9% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €26,979 | €45,921 | +€18,942 | +70.2% |
| Distributable reserves | 133 | €26,979 | €45,921 | +€18,942 | +70.2% |
| Profit (loss) carried forward | 14 | -€22,889 | -€22,889 | = | 0.0% |
| Amounts payable | 17/49 | €27,373 | €6,780 | -€20,593 | -75.2% |
| Amounts payable within one year | 42/48 | €27,373 | €6,780 | -€20,593 | -75.2% |
| Trade debts | 44 | €1,127 | €559 | -€567 | -50.4% |
| Suppliers | 440/4 | €1,127 | €559 | -€567 | -50.4% |
| Advances received on contracts in progress | 46 | €223 | €223 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €6,018 | €5,998 | -€20 | -0.3% |
| Taxes | 450/3 | €6,018 | €5,998 | -€20 | -0.3% |
| Other amounts payable | 47/48 | €20,005 | - | -€20,005 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,292 | €2,498 | +€205 | +9.0% |
| Other operating charges | 640/8 | €2,597 | €2,571 | -€25 | -1.0% |
| Gross operating margin | 9900 | €31,886 | €40,558 | +€8,671 | +27.2% |
| Operating profit (loss) | 9901 | €26,997 | €35,488 | +€8,491 | +31.5% |
| Financial income | 75/76B | €499 | €17 | -€482 | -96.7% |
| Recurring financial income | 75 | €499 | €17 | -€482 | -96.7% |
| Financial charges | 65/66B | €620 | €10,173 | +€9,553 | +1540.6% |
| Recurring financial charges | 65 | €620 | €561 | -€59 | -9.5% |
| Non-recurring financial charges | 66B | - | €9,612 | +€9,612 | |
| Profit (loss) for the period before taxes | 9903 | €26,876 | €25,332 | -€1,544 | -5.7% |
| Income taxes | 67/77 | €950 | €6,390 | +€5,440 | +572.6% |
| Profit (loss) for the period | 9904 | €25,926 | €18,942 | -€6,984 | -26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,926 | €18,942 | -€6,984 | -26.9% |
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 8 October 2026 via checked.be.