D.B.O.: 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.O.
Largest movements
- Cash +€110,835
up €110,835 (+48.0%), from €230,958 to €341,792
mainly Receivables within one year (+€66,379) and Depreciation (+€22,549)
- Receivables within one year -€66,379
down €66,379 (-97.7%), from €67,927 to €1,548
- Tangible fixed assets -€22,549
down €22,549 (-15.3%), from €147,720 to €125,170
of which Land and buildings: -€22,549
- Reserves +€12,328
up €12,328 (+8.0%), from €153,535 to €165,863
of which Distributable reserves: +€15,000
- Tax, wage and social debts +€6,669
up €6,669 (+264.7%), from €2,519 to €9,188
- Gross operating margin +€3,457
up €3,457 (+7.8%), from €44,231 to €47,688
- Financial income -€3,397
down €3,397 (-80.3%), from €4,232 to €835
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 | €451,159 | €470,192 | +€19,033 | +4.2% |
| Fixed assets | 21/28 | €147,720 | €125,170 | -€22,549 | -15.3% |
| Tangible fixed assets | 22/27 | €147,720 | €125,170 | -€22,549 | -15.3% |
| Land and buildings | 22 | €147,720 | €125,170 | -€22,549 | -15.3% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €303,439 | €345,022 | +€41,583 | +13.7% |
| Amounts receivable within one year | 40/41 | €67,927 | €1,548 | -€66,379 | -97.7% |
| Other amounts receivable | 41 | €67,927 | €1,548 | -€66,379 | -97.7% |
| Cash at bank and in hand | 54/58 | €230,958 | €341,792 | +€110,835 | +48.0% |
| Deferred charges and accrued income | 490/1 | €4,555 | €1,681 | -€2,874 | -63.1% |
| Total equity and liabilities | 10/49 | €451,159 | €470,192 | +€19,033 | +4.2% |
| Equity | 10/15 | €442,709 | €455,879 | +€13,170 | +3.0% |
| Contributions | 10/11 | €199,000 | €199,000 | = | 0.0% |
| Capital | 10 | €199,000 | €199,000 | = | 0.0% |
| Issued capital | 100 | €199,000 | €199,000 | = | 0.0% |
| Reserves | 13 | €153,535 | €165,863 | +€12,328 | +8.0% |
| Non-distributable reserves | 130/1 | €19,900 | €19,900 | = | 0.0% |
| Legal reserve | 130 | €19,900 | €19,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,271 | €13,599 | -€2,672 | -16.4% |
| Distributable reserves | 133 | €117,364 | €132,364 | +€15,000 | +12.8% |
| Profit (loss) carried forward | 14 | €90,175 | €91,016 | +€841 | +0.9% |
| Provisions and deferred taxes | 16 | €4,236 | €3,347 | -€890 | -21.0% |
| Provisions for liabilities and charges | 160/5 | €3,347 | €3,347 | = | 0.0% |
| Taxes | 161 | €3,347 | €3,347 | = | 0.0% |
| Deferred taxes | 168 | €890 | €0 | -€890 | -100.0% |
| Amounts payable | 17/49 | €4,213 | €10,967 | +€6,753 | +160.3% |
| Amounts payable within one year | 42/48 | €2,519 | €9,188 | +€6,669 | +264.7% |
| Trade debts | 44 | - | €0 | = | |
| Suppliers | 440/4 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €2,519 | €9,188 | +€6,669 | +264.7% |
| Taxes | 450/3 | €2,519 | €9,188 | +€6,669 | +264.7% |
| Accrued charges and deferred income | 492/3 | €1,694 | €1,779 | +€85 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,849 | €22,549 | -€300 | -1.3% |
| Other operating charges | 640/8 | €5,780 | €5,973 | +€193 | +3.3% |
| Gross operating margin | 9900 | €44,231 | €47,688 | +€3,457 | +7.8% |
| Operating profit (loss) | 9901 | €15,602 | €19,166 | +€3,564 | +22.8% |
| Financial income | 75/76B | €4,232 | €835 | -€3,397 | -80.3% |
| Recurring financial income | 75 | €4,232 | €835 | -€3,397 | -80.3% |
| Financial charges | 65/66B | €163 | €255 | +€92 | +56.2% |
| Recurring financial charges | 65 | €163 | €255 | +€92 | +56.2% |
| Profit (loss) for the period before taxes | 9903 | €19,671 | €19,746 | +€75 | +0.4% |
| Transfer from deferred taxes | 780 | €934 | €890 | -€44 | -4.7% |
| Income taxes | 67/77 | €7,700 | €7,466 | -€233 | -3.0% |
| Profit (loss) for the period | 9904 | €12,905 | €13,170 | +€264 | +2.0% |
| Transfer from tax-exempt reserves | 789 | €2,805 | €2,672 | -€133 | -4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,710 | €15,841 | +€131 | +0.8% |
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 6 October 2026 via checked.be.