D.B.C.: 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.B.C.
Largest movements
- Cash +€572,670
up €572,670 (+130.8%), from €437,878 to €1.0m
mainly Stocks and contracts (+€285,459) and Net result for the year (+€252,062)
- Stocks and contracts -€285,459
down €285,459 (-67.6%), from €422,419 to €136,960
- Reserves +€252,062
up €252,062 (+11.6%), from €2.2m to €2.4m
of which Distributable reserves: +€297,292
- Trade debts +€176,913
up €176,913 (+42.0%), from €421,368 to €598,281
- Other debts -€64,093
down €64,093 (-2.3%), from €2.8m to €2.7m
- Gross operating margin -€234,641
down €234,641 (-34.5%), from €679,792 to €445,151
- Taxes -€70,405
down €70,405 (-43.8%), from €160,840 to €90,435
- Financial income +€68,100
new in 2025: €68,100
of which Non-recurring financial income: +€68,050
- Staff costs +€17,387
up €17,387 (+34.3%), from €50,666 to €68,052
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 | €5,558,082 | €5,881,973 | +€323,891 | +5.8% |
| Fixed assets | 21/28 | €3,801,380 | €3,836,280 | +€34,900 | +0.9% |
| Tangible fixed assets | 22/27 | €3,797,785 | €3,832,685 | +€34,900 | +0.9% |
| Land and buildings | 22 | €3,797,785 | €3,832,685 | +€34,900 | +0.9% |
| Financial fixed assets | 28 | €3,595 | €3,595 | = | 0.0% |
| Current assets | 29/58 | €1,756,702 | €2,045,694 | +€288,991 | +16.5% |
| Stocks and contracts in progress | 3 | €422,419 | €136,960 | -€285,459 | -67.6% |
| Stocks | 30/36 | €422,419 | €136,960 | -€285,459 | -67.6% |
| Amounts receivable within one year | 40/41 | €896,406 | €898,185 | +€1,780 | +0.2% |
| Trade receivables | 40 | €84,267 | €108,620 | +€24,353 | +28.9% |
| Other amounts receivable | 41 | €812,138 | €789,565 | -€22,573 | -2.8% |
| Cash at bank and in hand | 54/58 | €437,878 | €1,010,548 | +€572,670 | +130.8% |
| Total equity and liabilities | 10/49 | €5,558,082 | €5,881,973 | +€323,891 | +5.8% |
| Equity | 10/15 | €2,233,259 | €2,485,320 | +€252,062 | +11.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,171,259 | €2,423,320 | +€252,062 | +11.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €94,874 | €49,643 | -€45,230 | -47.7% |
| Distributable reserves | 133 | €2,070,185 | €2,367,477 | +€297,292 | +14.4% |
| Provisions and deferred taxes | 16 | €39,852 | €20,853 | -€18,999 | -47.7% |
| Deferred taxes | 168 | €39,852 | €20,853 | -€18,999 | -47.7% |
| Amounts payable | 17/49 | €3,284,972 | €3,375,800 | +€90,828 | +2.8% |
| Amounts payable after more than one year | 17 | €1,198 | €1,198 | = | 0.0% |
| Other amounts payable | 178/9 | €1,198 | €1,198 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,283,774 | €3,374,602 | +€90,828 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €37,829 | - | -€37,829 | |
| Trade debts | 44 | €421,368 | €598,281 | +€176,913 | +42.0% |
| Suppliers | 440/4 | €421,368 | €598,281 | +€176,913 | +42.0% |
| Taxes, remuneration and social security | 45 | €61,506 | €77,344 | +€15,837 | +25.7% |
| Taxes | 450/3 | €61,506 | €66,474 | +€4,968 | +8.1% |
| Remuneration and social security | 454/9 | - | €10,869 | +€10,869 | |
| Other amounts payable | 47/48 | €2,763,071 | €2,698,978 | -€64,093 | -2.3% |
| Remuneration, social security and pensions | 62 | €50,666 | €68,052 | +€17,387 | +34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,258 | €107,258 | -€0 | 0.0% |
| Other operating charges | 640/8 | €7,185 | €12,644 | +€5,460 | +76.0% |
| Gross operating margin | 9900 | €679,792 | €445,151 | -€234,641 | -34.5% |
| Operating profit (loss) | 9901 | €514,684 | €257,196 | -€257,488 | -50.0% |
| Financial income | 75/76B | - | €68,100 | +€68,100 | |
| Recurring financial income | 75 | - | €50 | +€50 | |
| Non-recurring financial income | 76B | - | €68,050 | +€68,050 | |
| Financial charges | 65/66B | €2,879 | €1,799 | -€1,080 | -37.5% |
| Recurring financial charges | 65 | €2,879 | €1,799 | -€1,080 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | €511,805 | €323,498 | -€188,308 | -36.8% |
| Transfer from deferred taxes | 780 | €18,999 | €18,999 | = | 0.0% |
| Income taxes | 67/77 | €160,840 | €90,435 | -€70,405 | -43.8% |
| Profit (loss) for the period | 9904 | €369,965 | €252,062 | -€117,903 | -31.9% |
| Transfer from tax-exempt reserves | 789 | €45,230 | €45,230 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €415,195 | €297,292 | -€117,903 | -28.4% |
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 2 October 2026 via checked.be.