D-co: 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-co
Largest movements
- Cash -€43,801
down €43,801 (-78.4%), from €55,844 to €12,042
mainly Receivables within one year (-€24,009) and Net result for the year (-€22,662)
- Receivables within one year +€24,009
up €24,009 (+25.2%), from €95,223 to €119,232
of which Other amounts receivable: +€24,196
- Tangible fixed assets -€2,161
down €2,161 (-30.0%), from €7,191 to €5,031
- Profit (loss) carried forward -€22,662
new in 2025: -€22,662
- Gross operating margin -€183,606
down €183,606, from €165,445 to -€18,161
- Taxes -€39,106
no longer reported in 2025 (was €39,106)
- Financial charges -€9,534
down €9,534 (-78.1%), from €12,205 to €2,671
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 | €178,358 | €156,405 | -€21,953 | -12.3% |
| Fixed assets | 21/28 | €7,291 | €5,131 | -€2,161 | -29.6% |
| Tangible fixed assets | 22/27 | €7,191 | €5,031 | -€2,161 | -30.0% |
| Plant, machinery and equipment | 23 | €7,191 | €5,031 | -€2,161 | -30.0% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €171,067 | €151,275 | -€19,792 | -11.6% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €95,223 | €119,232 | +€24,009 | +25.2% |
| Trade receivables | 40 | €3,687 | €3,500 | -€187 | -5.1% |
| Other amounts receivable | 41 | €91,536 | €115,732 | +€24,196 | +26.4% |
| Cash at bank and in hand | 54/58 | €55,844 | €12,042 | -€43,801 | -78.4% |
| Total equity and liabilities | 10/49 | €178,358 | €156,405 | -€21,953 | -12.3% |
| Equity | 10/15 | €177,692 | €155,030 | -€22,662 | -12.8% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €171,494 | €171,494 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €169,635 | €169,635 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€22,662 | -€22,662 | |
| Amounts payable | 17/49 | €667 | €1,375 | +€709 | +106.3% |
| Amounts payable within one year | 42/48 | €667 | €1,375 | +€709 | +106.3% |
| Trade debts | 44 | €667 | €1,375 | +€709 | +106.3% |
| Suppliers | 440/4 | €667 | €1,375 | +€709 | +106.3% |
| Non-recurring operating income | 76A | €234,836 | - | -€234,836 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,095 | €2,161 | +€1,065 | +97.3% |
| Other operating charges | 640/8 | €194 | €418 | +€224 | +115.0% |
| Gross operating margin | 9900 | €165,445 | -€18,161 | -€183,606 | |
| Operating profit (loss) | 9901 | €164,155 | -€20,739 | -€184,895 | |
| Financial income | 75/76B | €705 | €749 | +€44 | +6.2% |
| Recurring financial income | 75 | €705 | €749 | +€44 | +6.2% |
| Financial charges | 65/66B | €12,205 | €2,671 | -€9,534 | -78.1% |
| Recurring financial charges | 65 | €12,205 | €2,671 | -€9,534 | -78.1% |
| Profit (loss) for the period before taxes | 9903 | €152,655 | -€22,662 | -€175,317 | |
| Income taxes | 67/77 | €39,106 | - | -€39,106 | |
| Profit (loss) for the period | 9904 | €113,549 | -€22,662 | -€136,211 | |
| Transfer from tax-exempt reserves | 789 | €46,817 | - | -€46,817 | |
| Profit (loss) for the period to be appropriated | 9905 | €160,365 | -€22,662 | -€183,027 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.