D-CF: 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-CF
Largest movements
- Receivables within one year +€12,006
up €12,006 (+306.6%), from €3,916 to €15,922
of which Trade receivables: +€12,917
- Tangible fixed assets -€5,455
down €5,455 (-28.5%), from €19,125 to €13,670
of which Furniture and vehicles: -€5,169
- Cash -€1,383
down €1,383 (-31.3%), from €4,426 to €3,043
mainly Receivables within one year (-€12,006) and Investment in fixed assets (net) (-€1,528)
- Trade debts +€5,578
up €5,578 (+38.2%), from €14,602 to €20,180
- Other debts -€1,020
down €1,020 (-31.3%), from €3,260 to €2,240
- Tax, wage and social debts +€446
up €446 (+44.0%), from €1,015 to €1,461
of which Taxes: +€1,282
- Staff costs +€11,060
up €11,060 (+35.2%), from €31,442 to €42,501
- Gross operating margin +€10,604
up €10,604 (+25.2%), from €42,011 to €52,615
- Financial charges -€1,226
down €1,226 (-43.4%), from €2,824 to €1,598
of which Financial charges: -€1,316
- Financial income -€777
no longer reported in 2025 (was €777)
of which Financial income: -€777
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 | €30,747 | €35,984 | +€5,238 | +17.0% |
| Fixed assets | 21/28 | €19,125 | €13,670 | -€5,455 | -28.5% |
| Tangible fixed assets | 22/27 | €19,125 | €13,670 | -€5,455 | -28.5% |
| Land and buildings | 22 | €1,145 | €859 | -€286 | -25.0% |
| Furniture and vehicles | 24 | €17,980 | €12,811 | -€5,169 | -28.7% |
| Current assets | 29/58 | €11,622 | €22,315 | +€10,693 | +92.0% |
| Stocks and contracts in progress | 3 | €3,280 | €3,350 | +€70 | +2.1% |
| Stocks | 30/36 | €3,280 | €3,350 | +€70 | +2.1% |
| Amounts receivable within one year | 40/41 | €3,916 | €15,922 | +€12,006 | +306.6% |
| Trade receivables | 40 | €2,966 | €15,883 | +€12,917 | +435.5% |
| Other amounts receivable | 41 | €950 | €39 | -€910 | -95.9% |
| Cash at bank and in hand | 54/58 | €4,426 | €3,043 | -€1,383 | -31.3% |
| Total equity and liabilities | 10/49 | €30,747 | €35,984 | +€5,238 | +17.0% |
| Equity | 10/15 | €11,870 | €12,103 | +€233 | +2.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Outside capital | 11 | €3,000 | €3,000 | = | 0.0% |
| Other | 1109/19 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,870 | €9,103 | +€233 | +2.6% |
| Amounts payable | 17/49 | €18,877 | €23,881 | +€5,005 | +26.5% |
| Amounts payable within one year | 42/48 | €18,877 | €23,881 | +€5,005 | +26.5% |
| Trade debts | 44 | €14,602 | €20,180 | +€5,578 | +38.2% |
| Suppliers | 440/4 | €14,602 | €20,180 | +€5,578 | +38.2% |
| Taxes, remuneration and social security | 45 | €1,015 | €1,461 | +€446 | +44.0% |
| Taxes | 450/3 | - | €1,282 | +€1,282 | |
| Remuneration and social security | 454/9 | €1,015 | €179 | -€835 | -82.3% |
| Other amounts payable | 47/48 | €3,260 | €2,240 | -€1,020 | -31.3% |
| Remuneration, social security and pensions | 62 | €31,442 | €42,501 | +€11,060 | +35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,853 | €6,983 | +€130 | +1.9% |
| Other operating charges | 640/8 | €1,088 | €1,300 | +€212 | +19.5% |
| Gross operating margin | 9900 | €42,011 | €52,615 | +€10,604 | +25.2% |
| Operating profit (loss) | 9901 | €2,629 | €1,831 | -€798 | -30.3% |
| Financial income | 75/76B | €777 | - | -€777 | |
| Recurring financial income | 75 | €777 | - | -€777 | |
| Non-recurring financial income | 76B | €777 | - | -€777 | |
| Financial charges | 65/66B | €2,824 | €1,598 | -€1,226 | -43.4% |
| Recurring financial charges | 65 | €2,817 | €1,501 | -€1,316 | -46.7% |
| Non-recurring financial charges | 66B | €7 | €97 | +€90 | +1370.7% |
| Profit (loss) for the period before taxes | 9903 | €582 | €233 | -€349 | -59.9% |
| Profit (loss) for the period | 9904 | €582 | €233 | -€349 | -59.9% |
| Profit (loss) for the period to be appropriated | 9905 | €582 | €233 | -€349 | -59.9% |
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 29 September 2026 via checked.be.