D & C: 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 & C
Largest movements
- Receivables within one year +€42,645
up €42,645 (+5.7%), from €744,449 to €787,094
of which Other amounts receivable: +€48,124
- Deferred charges and accrued income -€27,124
down €27,124 (-100%), from €27,124 to €0
- Tangible fixed assets -€18,127
down €18,127 (-9.9%), from €183,033 to €164,906
- Other debts -€14,526
down €14,526 (-1.6%), from €882,675 to €868,149
- Reserves +€13,517
up €13,517 (+142%), from €9,517 to €23,034
of which Distributable reserves: +€13,517
- Debts after one year -€12,479
down €12,479 (-8.1%), from €153,939 to €141,460
- Financial income -€28,624
down €28,624 (-57.7%), from €49,624 to €21,000
- Gross operating margin +€25,653
up €25,653 (+91.4%), from €28,056 to €53,709
- Write-downs +€9,861
new in 2025: €9,861
- Financial charges +€2,897
up €2,897 (+10.4%), from €27,896 to €30,792
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 | €1,206,532 | €1,202,839 | -€3,693 | -0.3% |
| Fixed assets | 21/28 | €418,033 | €399,906 | -€18,127 | -4.3% |
| Tangible fixed assets | 22/27 | €183,033 | €164,906 | -€18,127 | -9.9% |
| Land and buildings | 22 | €139,936 | €131,424 | -€8,512 | -6.1% |
| Plant, machinery and equipment | 23 | €27,809 | €22,059 | -€5,750 | -20.7% |
| Furniture and vehicles | 24 | €2,000 | €0 | -€2,000 | -100% |
| Other tangible fixed assets | 26 | €13,288 | €11,423 | -€1,865 | -14.0% |
| Financial fixed assets | 28 | €235,000 | €235,000 | = | 0.0% |
| Current assets | 29/58 | €788,500 | €802,933 | +€14,434 | +1.8% |
| Amounts receivable within one year | 40/41 | €744,449 | €787,094 | +€42,645 | +5.7% |
| Trade receivables | 40 | €42,181 | €36,703 | -€5,478 | -13.0% |
| Other amounts receivable | 41 | €702,268 | €750,392 | +€48,124 | +6.9% |
| Cash at bank and in hand | 54/58 | €16,927 | €15,839 | -€1,088 | -6.4% |
| Deferred charges and accrued income | 490/1 | €27,124 | €0 | -€27,124 | -100% |
| Total equity and liabilities | 10/49 | €1,206,532 | €1,202,839 | -€3,693 | -0.3% |
| Equity | 10/15 | €145,517 | €159,034 | +€13,517 | +9.3% |
| Contributions | 10/11 | €136,000 | €136,000 | = | 0.0% |
| Capital | 10 | €136,000 | €136,000 | = | 0.0% |
| Issued capital | 100 | €136,000 | €136,000 | = | 0.0% |
| Contributions outside capital | 11 | €0 | - | = | |
| Other | 1109/19 | €0 | - | = | |
| Reserves | 13 | €9,517 | €23,034 | +€13,517 | +142% |
| Non-distributable reserves | 130/1 | €476 | €476 | = | 0.0% |
| Legal reserve | 130 | €476 | €476 | = | 0.0% |
| Distributable reserves | 133 | €9,041 | €22,558 | +€13,517 | +150% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,061,016 | €1,043,805 | -€17,210 | -1.6% |
| Amounts payable after more than one year | 17 | €153,939 | €141,460 | -€12,479 | -8.1% |
| Financial debts | 170/4 | €153,939 | €141,460 | -€12,479 | -8.1% |
| Amounts payable within one year | 42/48 | €907,076 | €902,345 | -€4,731 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €17,939 | €21,099 | +€3,159 | +17.6% |
| Trade debts | 44 | €869 | €9,219 | +€8,350 | +961% |
| Suppliers | 440/4 | €869 | €9,219 | +€8,350 | +961% |
| Taxes, remuneration and social security | 45 | €5,593 | €3,878 | -€1,715 | -30.7% |
| Taxes | 450/3 | €5,593 | €3,878 | -€1,715 | -30.7% |
| Other amounts payable | 47/48 | €882,675 | €868,149 | -€14,526 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,127 | €18,127 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,861 | +€9,861 | |
| Other operating charges | 640/8 | €2,630 | €2,412 | -€218 | -8.3% |
| Gross operating margin | 9900 | €28,056 | €53,709 | +€25,653 | +91.4% |
| Operating profit (loss) | 9901 | €7,299 | €23,309 | +€16,011 | +219% |
| Financial income | 75/76B | €49,624 | €21,000 | -€28,624 | -57.7% |
| Recurring financial income | 75 | €49,624 | €21,000 | -€28,624 | -57.7% |
| Financial charges | 65/66B | €27,896 | €30,792 | +€2,897 | +10.4% |
| Recurring financial charges | 65 | €27,896 | €30,792 | +€2,897 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €29,026 | €13,517 | -€15,510 | -53.4% |
| Profit (loss) for the period | 9904 | €29,026 | €13,517 | -€15,510 | -53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,026 | €13,517 | -€15,510 | -53.4% |
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 17 October 2026 via checked.be.