D CONCEPT: 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 CONCEPT
Largest movements
- Tangible fixed assets -€19,036
down €19,036 (-5.0%), from €384,078 to €365,042
- Reserves +€14,722
up €14,722 (+14.8%), from €99,202 to €113,924
of which Distributable reserves: +€14,722
- Debts after one year -€12,688
down €12,688 (-8.4%), from €151,726 to €139,038
- Short-term financial debts -€8,262
down €8,262 (-100.0%), from €8,262 to €0
- Tax, wage and social debts -€6,985
down €6,985 (-67.8%), from €10,296 to €3,311
- Gross operating margin -€29,998
down €29,998 (-38.9%), from €77,052 to €47,055
- Taxes -€10,536
down €10,536 (-68.7%), from €15,327 to €4,791
- Depreciation -€2,420
down €2,420 (-9.9%), from €24,363 to €21,943
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 | €583,947 | €569,916 | -€14,031 | -2.4% |
| Fixed assets | 21/28 | €582,278 | €563,042 | -€19,236 | -3.3% |
| Tangible fixed assets | 22/27 | €384,078 | €365,042 | -€19,036 | -5.0% |
| Land and buildings | 22 | €327,543 | €319,422 | -€8,121 | -2.5% |
| Furniture and vehicles | 24 | €33,315 | €28,018 | -€5,298 | -15.9% |
| Other tangible fixed assets | 26 | €23,220 | €17,602 | -€5,617 | -24.2% |
| Financial fixed assets | 28 | €198,200 | €198,000 | -€200 | -0.1% |
| Current assets | 29/58 | €1,669 | €6,874 | +€5,205 | +311.8% |
| Amounts receivable within one year | 40/41 | - | €5,209 | +€5,209 | |
| Other amounts receivable | 41 | - | €5,209 | +€5,209 | |
| Cash at bank and in hand | 54/58 | €1,669 | €928 | -€741 | -44.4% |
| Deferred charges and accrued income | 490/1 | €0 | €738 | +€738 | |
| Total equity and liabilities | 10/49 | €583,947 | €569,916 | -€14,031 | -2.4% |
| Equity | 10/15 | €326,632 | €341,354 | +€14,722 | +4.5% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €99,202 | €113,924 | +€14,722 | +14.8% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €97,302 | €112,024 | +€14,722 | +15.1% |
| Profit (loss) carried forward | 14 | €214,930 | €214,930 | = | 0.0% |
| Amounts payable | 17/49 | €257,315 | €228,562 | -€28,753 | -11.2% |
| Amounts payable after more than one year | 17 | €151,726 | €139,038 | -€12,688 | -8.4% |
| Financial debts | 170/4 | €151,726 | €139,038 | -€12,688 | -8.4% |
| Amounts payable within one year | 42/48 | €105,213 | €88,649 | -€16,564 | -15.7% |
| Current portion of amounts payable after more than one year | 42 | €12,540 | €12,688 | +€148 | +1.2% |
| Financial debts | 43 | €8,262 | €0 | -€8,262 | -100.0% |
| Credit institutions | 430/8 | €8,262 | €0 | -€8,262 | -100.0% |
| Trade debts | 44 | €199 | €468 | +€268 | +134.5% |
| Suppliers | 440/4 | €199 | €468 | +€268 | +134.5% |
| Taxes, remuneration and social security | 45 | €10,296 | €3,311 | -€6,985 | -67.8% |
| Taxes | 450/3 | €10,296 | €3,311 | -€6,985 | -67.8% |
| Other amounts payable | 47/48 | €73,916 | €72,182 | -€1,733 | -2.3% |
| Accrued charges and deferred income | 492/3 | €376 | €876 | +€499 | +132.7% |
| Non-recurring operating income | 76A | - | €6,577 | +€6,577 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,363 | €21,943 | -€2,420 | -9.9% |
| Other operating charges | 640/8 | €2,056 | €2,228 | +€172 | +8.4% |
| Gross operating margin | 9900 | €77,052 | €47,055 | -€29,998 | -38.9% |
| Operating profit (loss) | 9901 | €50,633 | €22,883 | -€27,750 | -54.8% |
| Financial charges | 65/66B | €3,345 | €3,370 | +€25 | +0.7% |
| Recurring financial charges | 65 | €3,345 | €3,370 | +€25 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €47,288 | €19,513 | -€27,775 | -58.7% |
| Income taxes | 67/77 | €15,327 | €4,791 | -€10,536 | -68.7% |
| Profit (loss) for the period | 9904 | €31,961 | €14,722 | -€17,239 | -53.9% |
| Profit (loss) for the period to be appropriated | 9905 | €31,961 | €14,722 | -€17,239 | -53.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.