D.B.D.: what changed
D.B.D.
Largest movements
- Stocks and contracts -€49,551
down €49,551 (-13.5%), from €368,180 to €318,629
- Receivables within one year +€30,510
up €30,510 (+520%), from €5,868 to €36,378
of which Trade receivables: +€26,421
- Tangible fixed assets -€16,870
down €16,870 (-16.0%), from €105,438 to €88,568
of which Furniture and vehicles: -€10,370
- Cash -€9,422
down €9,422 (-40.1%), from €23,485 to €14,062
mainly Debts after one year (-€71,295) and Other debts (-€35,462)
- Intangible fixed assets -€7,500
down €7,500 (-34.1%), from €21,966 to €14,466
- Debts after one year -€71,295
down €71,295 (-26.6%), from €267,534 to €196,239
of which Financial debts: -€62,957
- Other debts -€35,462
down €35,462 (-21.6%), from €164,309 to €128,847
- Profit (loss) carried forward +€22,768
up €22,768 (+46.3%), from €49,168 to €71,936
- Short-term financial debts +€22,590
new in 2025: €22,590
- Tax, wage and social debts +€11,021
up €11,021 (+179%), from €6,168 to €17,189
of which Remuneration and social security: +€7,605
- Other operating charges -€38,561
down €38,561 (-94.1%), from €40,983 to €2,422
- Staff costs +€16,421
up €16,421 (+311%), from €5,283 to €21,703
- Gross operating margin +€16,272
up €16,272 (+26.0%), from €62,696 to €78,969
- Depreciation +€12,317
up €12,317 (+85.9%), from €14,335 to €26,652
- Financial income +€12,240
new in 2025: €12,240
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €524,936 | €472,557 | -€52,379 | -10.0% |
| Fixed assets | 21/28 | €127,404 | €103,034 | -€24,370 | -19.1% |
| Intangible fixed assets | 21 | €21,966 | €14,466 | -€7,500 | -34.1% |
| Tangible fixed assets | 22/27 | €105,438 | €88,568 | -€16,870 | -16.0% |
| Land and buildings | 22 | €49,985 | €45,904 | -€4,082 | -8.2% |
| Plant, machinery and equipment | 23 | €5,271 | €2,853 | -€2,419 | -45.9% |
| Furniture and vehicles | 24 | €50,182 | €39,812 | -€10,370 | -20.7% |
| Current assets | 29/58 | €397,532 | €369,523 | -€28,010 | -7.0% |
| Stocks and contracts in progress | 3 | €368,180 | €318,629 | -€49,551 | -13.5% |
| Stocks | 30/36 | €368,180 | €318,629 | -€49,551 | -13.5% |
| Amounts receivable within one year | 40/41 | €5,868 | €36,378 | +€30,510 | +520% |
| Trade receivables | 40 | €5,868 | €32,289 | +€26,421 | +450% |
| Other amounts receivable | 41 | €0 | €4,089 | +€4,089 | |
| Cash at bank and in hand | 54/58 | €23,485 | €14,062 | -€9,422 | -40.1% |
| Deferred charges and accrued income | 490/1 | - | €454 | +€454 | |
| Total equity and liabilities | 10/49 | €524,936 | €472,557 | -€52,379 | -10.0% |
| Equity | 10/15 | €67,992 | €90,760 | +€22,768 | +33.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €224 | €224 | = | 0.0% |
| Distributable reserves | 133 | €224 | €224 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,168 | €71,936 | +€22,768 | +46.3% |
| Amounts payable | 17/49 | €456,944 | €381,797 | -€75,148 | -16.4% |
| Amounts payable after more than one year | 17 | €267,534 | €196,239 | -€71,295 | -26.6% |
| Financial debts | 170/4 | €259,196 | €196,239 | -€62,957 | -24.3% |
| Trade debts | 175 | €8,338 | €0 | -€8,338 | -100% |
| Amounts payable within one year | 42/48 | €185,621 | €182,749 | -€2,871 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €12,765 | €13,226 | +€461 | +3.6% |
| Financial debts | 43 | - | €22,590 | +€22,590 | |
| Credit institutions | 430/8 | - | €22,590 | +€22,590 | |
| Trade debts | 44 | €2,379 | €897 | -€1,482 | -62.3% |
| Suppliers | 440/4 | €2,379 | €897 | -€1,482 | -62.3% |
| Taxes, remuneration and social security | 45 | €6,168 | €17,189 | +€11,021 | +179% |
| Taxes | 450/3 | €3,352 | €6,769 | +€3,416 | +102% |
| Remuneration and social security | 454/9 | €2,816 | €10,421 | +€7,605 | +270% |
| Other amounts payable | 47/48 | €164,309 | €128,847 | -€35,462 | -21.6% |
| Accrued charges and deferred income | 492/3 | €3,790 | €2,808 | -€982 | -25.9% |
| Remuneration, social security and pensions | 62 | €5,283 | €21,703 | +€16,421 | +311% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,335 | €26,652 | +€12,317 | +85.9% |
| Other operating charges | 640/8 | €40,983 | €2,422 | -€38,561 | -94.1% |
| Gross operating margin | 9900 | €62,696 | €78,969 | +€16,272 | +26.0% |
| Operating profit (loss) | 9901 | €2,096 | €28,192 | +€26,096 | +1,245% |
| Financial income | 75/76B | - | €12,240 | +€12,240 | |
| Recurring financial income | 75 | - | €12,240 | +€12,240 | |
| Financial charges | 65/66B | €15,827 | €11,297 | -€4,530 | -28.6% |
| Recurring financial charges | 65 | €15,827 | €11,297 | -€4,530 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | -€13,731 | €29,135 | +€42,866 | |
| Income taxes | 67/77 | €559 | €6,366 | +€5,808 | +1,040% |
| Profit (loss) for the period | 9904 | -€14,290 | €22,768 | +€37,058 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,290 | €22,768 | +€37,058 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.