D-consulT: what changed
Two financial 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-consulT
Largest movements
- Receivables within one year +€112,473
up €112,473 (+24.6%), from €457,819 to €570,292
of which Other amounts receivable: +€100,962
- Cash -€74,422
down €74,422 (-40.7%), from €183,070 to €108,648
mainly Receivables within one year (-€112,473) and Contributions, distributions and other (-€76,745)
- Receivables after one year -€30,263
down €30,263 (-56.8%), from €53,275 to €23,012
- Tangible fixed assets -€15,729
down €15,729 (-26.6%), from €59,213 to €43,484
of which Land and buildings: -€8,559
- Debts after one year -€27,881
down €27,881 (-32.6%), from €85,541 to €57,661
- Reserves +€9,410
up €9,410 (+1.3%), from €720,424 to €729,834
of which Distributable reserves: +€9,410
- Other debts +€8,939
up €8,939 (+118%), from €7,574 to €16,513
- Gross operating margin -€37,562
down €37,562 (-23.1%), from €162,651 to €125,088
- Financial income +€13,663
up €13,663 (+92.1%), from €14,841 to €28,504
- Taxes -€6,536
down €6,536 (-12.9%), from €50,664 to €44,128
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.
Derived cash bridge
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 | €854,544 | €848,448 | -€6,096 | -0.7% |
| Fixed assets | 21/28 | €59,213 | €43,484 | -€15,729 | -26.6% |
| Tangible fixed assets | 22/27 | €59,213 | €43,484 | -€15,729 | -26.6% |
| Land and buildings | 22 | €30,533 | €21,974 | -€8,559 | -28.0% |
| Plant, machinery and equipment | 23 | €28,680 | €21,510 | -€7,170 | -25.0% |
| Current assets | 29/58 | €795,330 | €804,964 | +€9,634 | +1.2% |
| Amounts receivable after more than one year | 29 | €53,275 | €23,012 | -€30,263 | -56.8% |
| Other amounts receivable | 291 | €53,275 | €23,012 | -€30,263 | -56.8% |
| Amounts receivable within one year | 40/41 | €457,819 | €570,292 | +€112,473 | +24.6% |
| Trade receivables | 40 | €18 | €11,529 | +€11,511 | +65,589% |
| Other amounts receivable | 41 | €457,801 | €558,763 | +€100,962 | +22.1% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €183,070 | €108,648 | -€74,422 | -40.7% |
| Deferred charges and accrued income | 490/1 | €1,166 | €3,012 | +€1,846 | +158% |
| Total equity and liabilities | 10/49 | €854,544 | €848,448 | -€6,096 | -0.7% |
| Equity | 10/15 | €726,624 | €736,034 | +€9,410 | +1.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €720,424 | €729,834 | +€9,410 | +1.3% |
| Tax-exempt reserves | 132 | €9,811 | €9,811 | = | 0.0% |
| Distributable reserves | 133 | €710,613 | €720,023 | +€9,410 | +1.3% |
| Amounts payable | 17/49 | €127,919 | €112,413 | -€15,506 | -12.1% |
| Amounts payable after more than one year | 17 | €85,541 | €57,661 | -€27,881 | -32.6% |
| Financial debts | 170/4 | €85,541 | €57,661 | -€27,881 | -32.6% |
| Amounts payable within one year | 42/48 | €42,378 | €54,753 | +€12,375 | +29.2% |
| Current portion of amounts payable after more than one year | 42 | €26,733 | €27,881 | +€1,148 | +4.3% |
| Trade debts | 44 | €4,466 | €4,446 | -€21 | -0.5% |
| Suppliers | 440/4 | €4,466 | €4,446 | -€21 | -0.5% |
| Taxes, remuneration and social security | 45 | €3,606 | €5,914 | +€2,308 | +64.0% |
| Taxes | 450/3 | €3,606 | €5,914 | +€2,308 | +64.0% |
| Other amounts payable | 47/48 | €7,574 | €16,513 | +€8,939 | +118% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,729 | €15,729 | = | 0.0% |
| Other operating charges | 640/8 | €1,721 | €1,593 | -€128 | -7.5% |
| Gross operating margin | 9900 | €162,651 | €125,088 | -€37,562 | -23.1% |
| Operating profit (loss) | 9901 | €145,200 | €107,766 | -€37,434 | -25.8% |
| Financial income | 75/76B | €14,841 | €28,504 | +€13,663 | +92.1% |
| Recurring financial income | 75 | €14,841 | €28,504 | +€13,663 | +92.1% |
| Financial charges | 65/66B | €7,053 | €5,987 | -€1,065 | -15.1% |
| Recurring financial charges | 65 | €7,053 | €5,987 | -€1,065 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €152,989 | €130,283 | -€22,706 | -14.8% |
| Income taxes | 67/77 | €50,664 | €44,128 | -€6,536 | -12.9% |
| Profit (loss) for the period | 9904 | €102,325 | €86,155 | -€16,170 | -15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €102,325 | €86,155 | -€16,170 | -15.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.