D-CODE: what changed
D-CODE
Largest movements
- Cash -€92,296
down €92,296 (-31.6%), from €291,851 to €199,554
mainly Other debts (-€50,000) and Receivables within one year (-€37,365)
- Receivables within one year +€37,365
up €37,365 (+347%), from €10,760 to €48,124
of which Trade receivables: +€45,936
- Tangible fixed assets -€15,293
down €15,293 (-13.3%), from €115,034 to €99,741
of which Land and buildings: -€14,900
- Other debts -€50,000
down €50,000 (-95.6%), from €52,315 to €2,315
- Trade debts -€20,124
down €20,124 (-39.0%), from €51,602 to €31,478
- Tax, wage and social debts -€15,216
down €15,216 (-48.2%), from €31,562 to €16,345
of which Taxes: -€8,706
- Profit (loss) carried forward +€14,687
up €14,687 (+13.7%), from €107,473 to €122,160
- Staff costs -€39,708
down €39,708 (-31.7%), from €125,145 to €85,437
- Gross operating margin -€22,951
down €22,951 (-15.2%), from €150,624 to €127,673
- Taxes +€3,741
up €3,741 (+176%), from €2,120 to €5,861
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €424,172 | €353,518 | -€70,653 | -16.7% |
| Fixed assets | 21/28 | €116,358 | €99,961 | -€16,397 | -14.1% |
| Intangible fixed assets | 21 | €1,165 | €61 | -€1,104 | -94.8% |
| Tangible fixed assets | 22/27 | €115,034 | €99,741 | -€15,293 | -13.3% |
| Land and buildings | 22 | €112,204 | €97,304 | -€14,900 | -13.3% |
| Furniture and vehicles | 24 | €2,829 | €2,436 | -€393 | -13.9% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €307,813 | €253,557 | -€54,256 | -17.6% |
| Amounts receivable within one year | 40/41 | €10,760 | €48,124 | +€37,365 | +347% |
| Trade receivables | 40 | €2,188 | €48,124 | +€45,936 | +2,099% |
| Other amounts receivable | 41 | €8,572 | - | -€8,572 | |
| Cash at bank and in hand | 54/58 | €291,851 | €199,554 | -€92,296 | -31.6% |
| Deferred charges and accrued income | 490/1 | €5,203 | €5,878 | +€676 | +13.0% |
| Total equity and liabilities | 10/49 | €424,172 | €353,518 | -€70,653 | -16.7% |
| Equity | 10/15 | €161,586 | €176,273 | +€14,687 | +9.1% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €23,126 | €23,126 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,202 | €17,202 | = | 0.0% |
| Distributable reserves | 133 | €5,925 | €5,925 | = | 0.0% |
| Profit (loss) carried forward | 14 | €107,473 | €122,160 | +€14,687 | +13.7% |
| Provisions and deferred taxes | 16 | €127,107 | €127,107 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €127,107 | €127,107 | = | 0.0% |
| Pensions and similar obligations | 160 | €127,107 | €127,107 | = | 0.0% |
| Amounts payable | 17/49 | €135,479 | €50,138 | -€85,340 | -63.0% |
| Amounts payable within one year | 42/48 | €135,479 | €50,138 | -€85,340 | -63.0% |
| Trade debts | 44 | €51,602 | €31,478 | -€20,124 | -39.0% |
| Suppliers | 440/4 | €51,602 | €31,478 | -€20,124 | -39.0% |
| Taxes, remuneration and social security | 45 | €31,562 | €16,345 | -€15,216 | -48.2% |
| Taxes | 450/3 | €15,930 | €7,224 | -€8,706 | -54.7% |
| Remuneration and social security | 454/9 | €15,631 | €9,121 | -€6,510 | -41.6% |
| Other amounts payable | 47/48 | €52,315 | €2,315 | -€50,000 | -95.6% |
| Remuneration, social security and pensions | 62 | €125,145 | €85,437 | -€39,708 | -31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,593 | €17,358 | -€235 | -1.3% |
| Other operating charges | 640/8 | €5,578 | €5,818 | +€240 | +4.3% |
| Gross operating margin | 9900 | €150,624 | €127,673 | -€22,951 | -15.2% |
| Operating profit (loss) | 9901 | €2,309 | €19,060 | +€16,752 | +726% |
| Financial income | 75/76B | €2,310 | €1,615 | -€695 | -30.1% |
| Recurring financial income | 75 | €2,310 | €1,615 | -€695 | -30.1% |
| Financial charges | 65/66B | €331 | €126 | -€205 | -61.9% |
| Recurring financial charges | 65 | €331 | €126 | -€205 | -61.9% |
| Profit (loss) for the period before taxes | 9903 | €4,287 | €20,549 | +€16,262 | +379% |
| Income taxes | 67/77 | €2,120 | €5,861 | +€3,741 | +176% |
| Profit (loss) for the period | 9904 | €2,167 | €14,687 | +€12,521 | +578% |
| Profit (loss) for the period to be appropriated | 9905 | €2,167 | €14,687 | +€12,521 | +578% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.