D.C.O.: 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.O.
Largest movements
- Cash -€53,016
down €53,016 (-54.3%), from €97,577 to €44,561
mainly Other debts (-€43,584) and Receivables within one year (-€15,671)
- Receivables within one year +€15,671
up €15,671 (+391%), from €4,003 to €19,674
of which Trade receivables: +€12,909
- Tangible fixed assets +€1,753
up €1,753 (+91.6%), from €1,914 to €3,668
of which Plant, machinery and equipment: +€1,765
- Other debts -€43,584
down €43,584 (-89.7%), from €48,584 to €5,000
- Tax, wage and social debts +€3,210
up €3,210 (+60.6%), from €5,294 to €8,504
- Profit (loss) carried forward +€3,024
up €3,024 (+10.2%), from €29,603 to €32,627
- Trade debts +€1,784
up €1,784 (+212%), from €842 to €2,626
- Gross operating margin -€58,779
down €58,779 (-91.9%), from €63,972 to €5,193
- Staff costs -€27,827
no longer reported in 2025 (was €27,827)
- Depreciation -€6,535
down €6,535 (-93.4%), from €6,997 to €462
- Taxes -€3,513
down €3,513 (-74.0%), from €4,748 to €1,235
- Other operating charges -€650
down €650 (-70.0%), from €929 to €279
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 | €103,494 | €67,902 | -€35,591 | -34.4% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €1,914 | €3,668 | +€1,753 | +91.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,914 | €3,668 | +€1,753 | +91.6% |
| Plant, machinery and equipment | 23 | - | €1,765 | +€1,765 | |
| Furniture and vehicles | 24 | €1,914 | €1,902 | -€12 | -0.6% |
| Current assets | 29/58 | €101,580 | €64,235 | -€37,345 | -36.8% |
| Amounts receivable within one year | 40/41 | €4,003 | €19,674 | +€15,671 | +391% |
| Trade receivables | 40 | €4,000 | €16,909 | +€12,909 | +323% |
| Other amounts receivable | 41 | €3 | €2,765 | +€2,762 | +91,758% |
| Cash at bank and in hand | 54/58 | €97,577 | €44,561 | -€53,016 | -54.3% |
| Total equity and liabilities | 10/49 | €103,494 | €67,902 | -€35,591 | -34.4% |
| Equity | 10/15 | €48,748 | €51,772 | +€3,024 | +6.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €545 | €545 | = | 0.0% |
| Distributable reserves | 133 | €545 | €545 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,603 | €32,627 | +€3,024 | +10.2% |
| Amounts payable | 17/49 | €54,746 | €16,131 | -€38,615 | -70.5% |
| Amounts payable within one year | 42/48 | €54,721 | €16,131 | -€38,590 | -70.5% |
| Trade debts | 44 | €842 | €2,626 | +€1,784 | +212% |
| Suppliers | 440/4 | €842 | €2,626 | +€1,784 | +212% |
| Taxes, remuneration and social security | 45 | €5,294 | €8,504 | +€3,210 | +60.6% |
| Taxes | 450/3 | €5,294 | €8,504 | +€3,210 | +60.6% |
| Other amounts payable | 47/48 | €48,584 | €5,000 | -€43,584 | -89.7% |
| Accrued charges and deferred income | 492/3 | €25 | - | -€25 | |
| Remuneration, social security and pensions | 62 | €27,827 | - | -€27,827 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,997 | €462 | -€6,535 | -93.4% |
| Other operating charges | 640/8 | €929 | €279 | -€650 | -70.0% |
| Gross operating margin | 9900 | €63,972 | €5,193 | -€58,779 | -91.9% |
| Operating profit (loss) | 9901 | €28,218 | €4,452 | -€23,766 | -84.2% |
| Financial income | 75/76B | €2 | €0 | -€2 | -99.1% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -99.1% |
| Financial charges | 65/66B | €501 | €193 | -€307 | -61.4% |
| Recurring financial charges | 65 | €501 | €193 | -€307 | -61.4% |
| Profit (loss) for the period before taxes | 9903 | €27,720 | €4,259 | -€23,461 | -84.6% |
| Income taxes | 67/77 | €4,748 | €1,235 | -€3,513 | -74.0% |
| Profit (loss) for the period | 9904 | €22,972 | €3,024 | -€19,948 | -86.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,972 | €3,024 | -€19,948 | -86.8% |
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 16 October 2026 via checked.be.