D. CALLENS: 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. CALLENS
Largest movements
- Receivables within one year -€32,344
down €32,344 (-15.0%), from €215,921 to €183,578
of which Trade receivables: -€51,144
- Stocks and contracts +€23,944
up €23,944 (+108.3%), from €22,113 to €46,057
of which Contracts in progress: +€15,750
- Tangible fixed assets -€21,405
down €21,405 (-8.1%), from €265,764 to €244,359
of which Land and buildings: -€11,784
- Reserves -€37,416
down €37,416 (-14.2%), from €263,274 to €225,857
of which Distributable reserves: -€35,000
- Trade debts +€29,558
up €29,558 (+107.6%), from €27,478 to €57,036
- Debts after one year -€16,185
down €16,185 (-12.6%), from €128,368 to €112,184
- Profit (loss) carried forward -€14,940
down €14,940 (-76.9%), from €19,432 to €4,492
- Short-term financial debts +€9,142
up €9,142 (+83.6%), from €10,938 to €20,080
- Gross operating margin -€74,567
down €74,567 (-33.8%), from €220,655 to €146,088
- Other operating charges -€18,739
down €18,739 (-61.0%), from €30,710 to €11,971
- Staff costs +€11,907
up €11,907 (+9.8%), from €121,797 to €133,705
- Taxes -€6,506
down €6,506 (-96.7%), from €6,726 to €221
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 | €515,287 | €485,739 | -€29,548 | -5.7% |
| Fixed assets | 21/28 | €265,764 | €244,359 | -€21,405 | -8.1% |
| Tangible fixed assets | 22/27 | €265,764 | €244,359 | -€21,405 | -8.1% |
| Land and buildings | 22 | €177,775 | €165,991 | -€11,784 | -6.6% |
| Plant, machinery and equipment | 23 | €6,454 | €3,123 | -€3,331 | -51.6% |
| Furniture and vehicles | 24 | €22,214 | €14,703 | -€7,511 | -33.8% |
| Leasing and similar rights | 25 | €59,321 | €60,542 | +€1,221 | +2.1% |
| Current assets | 29/58 | €249,523 | €241,380 | -€8,143 | -3.3% |
| Stocks and contracts in progress | 3 | €22,113 | €46,057 | +€23,944 | +108.3% |
| Stocks | 30/36 | €9,863 | €18,057 | +€8,194 | +83.1% |
| Contracts in progress | 37 | €12,250 | €28,000 | +€15,750 | +128.6% |
| Amounts receivable within one year | 40/41 | €215,921 | €183,578 | -€32,344 | -15.0% |
| Trade receivables | 40 | €81,505 | €30,361 | -€51,144 | -62.7% |
| Other amounts receivable | 41 | €134,416 | €153,216 | +€18,800 | +14.0% |
| Cash at bank and in hand | 54/58 | €5,662 | €6,438 | +€776 | +13.7% |
| Deferred charges and accrued income | 490/1 | €5,827 | €5,307 | -€520 | -8.9% |
| Total equity and liabilities | 10/49 | €515,287 | €485,739 | -€29,548 | -5.7% |
| Equity | 10/15 | €301,306 | €248,949 | -€52,357 | -17.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €263,274 | €225,857 | -€37,416 | -14.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €31,414 | €28,997 | -€2,416 | -7.7% |
| Distributable reserves | 133 | €231,860 | €196,860 | -€35,000 | -15.1% |
| Profit (loss) carried forward | 14 | €19,432 | €4,492 | -€14,940 | -76.9% |
| Provisions and deferred taxes | 16 | €10,471 | €9,666 | -€805 | -7.7% |
| Deferred taxes | 168 | €10,471 | €9,666 | -€805 | -7.7% |
| Amounts payable | 17/49 | €203,509 | €227,124 | +€23,615 | +11.6% |
| Amounts payable after more than one year | 17 | €128,368 | €112,184 | -€16,185 | -12.6% |
| Financial debts | 170/4 | €128,368 | €112,184 | -€16,185 | -12.6% |
| Amounts payable within one year | 42/48 | €75,141 | €114,265 | +€39,124 | +52.1% |
| Current portion of amounts payable after more than one year | 42 | €33,529 | €33,663 | +€134 | +0.4% |
| Financial debts | 43 | €10,938 | €20,080 | +€9,142 | +83.6% |
| Other loans | 439 | €10,938 | €20,080 | +€9,142 | +83.6% |
| Trade debts | 44 | €27,478 | €57,036 | +€29,558 | +107.6% |
| Suppliers | 440/4 | €27,478 | €57,036 | +€29,558 | +107.6% |
| Taxes, remuneration and social security | 45 | €3,196 | €3,486 | +€290 | +9.1% |
| Taxes | 450/3 | €0 | €126 | +€126 | |
| Remuneration and social security | 454/9 | €3,196 | €3,360 | +€164 | +5.1% |
| Accrued charges and deferred income | 492/3 | - | €676 | +€676 | |
| Remuneration, social security and pensions | 62 | €121,797 | €133,705 | +€11,907 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,608 | €42,849 | +€1,241 | +3.0% |
| Other operating charges | 640/8 | €30,710 | €11,971 | -€18,739 | -61.0% |
| Gross operating margin | 9900 | €220,655 | €146,088 | -€74,567 | -33.8% |
| Operating profit (loss) | 9901 | €26,540 | -€42,437 | -€68,976 | |
| Financial income | 75/76B | €774 | €178 | -€596 | -77.0% |
| Recurring financial income | 75 | €774 | €178 | -€596 | -77.0% |
| Financial charges | 65/66B | €8,899 | €10,683 | +€1,784 | +20.0% |
| Recurring financial charges | 65 | €8,899 | €10,683 | +€1,784 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €18,415 | -€52,942 | -€71,357 | |
| Transfer from deferred taxes | 780 | €805 | €805 | = | 0.0% |
| Income taxes | 67/77 | €6,726 | €221 | -€6,506 | -96.7% |
| Profit (loss) for the period | 9904 | €12,494 | -€52,357 | -€64,851 | |
| Transfer from tax-exempt reserves | 789 | €2,416 | €2,416 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,911 | -€49,940 | -€64,851 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.