D-Core: 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-Core
Largest movements
- Cash +€78,292
up €78,292 (+270.7%), from €28,921 to €107,213
mainly Net result for the year (+€50,349) and Trade debts (+€18,004)
- Receivables within one year -€15,736
down €15,736 (-28.6%), from €55,101 to €39,365
of which Trade receivables: -€18,242
- Tangible fixed assets +€2,577
up €2,577 (+18.2%), from €14,133 to €16,711
of which Furniture and vehicles: +€3,916
- Reserves +€50,349
up €50,349 (+72.7%), from €69,268 to €119,617
- Trade debts +€18,004
up €18,004 (+11149.5%), from €161 to €18,166
- Other debts -€3,818
down €3,818 (-32.9%), from €11,618 to €7,800
- Gross operating margin -€28,105
down €28,105 (-25.6%), from €109,898 to €81,793
- Other operating charges +€3,882
up €3,882 (+270.5%), from €1,435 to €5,317
- Taxes -€1,149
down €1,149 (-6.1%), from €18,802 to €17,653
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 | €98,731 | €163,896 | +€65,164 | +66.0% |
| Fixed assets | 21/28 | €14,133 | €16,711 | +€2,577 | +18.2% |
| Tangible fixed assets | 22/27 | €14,133 | €16,711 | +€2,577 | +18.2% |
| Plant, machinery and equipment | 23 | €1,339 | €0 | -€1,339 | -100.0% |
| Furniture and vehicles | 24 | €12,794 | €16,711 | +€3,916 | +30.6% |
| Current assets | 29/58 | €84,598 | €147,185 | +€62,587 | +74.0% |
| Amounts receivable within one year | 40/41 | €55,101 | €39,365 | -€15,736 | -28.6% |
| Trade receivables | 40 | €53,880 | €35,638 | -€18,242 | -33.9% |
| Other amounts receivable | 41 | €1,221 | €3,727 | +€2,506 | +205.2% |
| Cash at bank and in hand | 54/58 | €28,921 | €107,213 | +€78,292 | +270.7% |
| Deferred charges and accrued income | 490/1 | €576 | €607 | +€32 | +5.5% |
| Total equity and liabilities | 10/49 | €98,731 | €163,896 | +€65,164 | +66.0% |
| Equity | 10/15 | €84,268 | €134,617 | +€50,349 | +59.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €69,268 | €119,617 | +€50,349 | +72.7% |
| Distributable reserves | 133 | €69,268 | €119,617 | +€50,349 | +72.7% |
| Amounts payable | 17/49 | €14,463 | €29,279 | +€14,816 | +102.4% |
| Amounts payable within one year | 42/48 | €14,463 | €29,279 | +€14,816 | +102.4% |
| Trade debts | 44 | €161 | €18,166 | +€18,004 | +11149.5% |
| Suppliers | 440/4 | €161 | €18,166 | +€18,004 | +11149.5% |
| Taxes, remuneration and social security | 45 | €2,684 | €3,313 | +€629 | +23.4% |
| Taxes | 450/3 | €2,684 | €1,313 | -€1,371 | -51.1% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €11,618 | €7,800 | -€3,818 | -32.9% |
| Remuneration, social security and pensions | 62 | €26 | - | -€26 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,043 | €7,202 | -€841 | -10.5% |
| Other operating charges | 640/8 | €1,435 | €5,317 | +€3,882 | +270.5% |
| Gross operating margin | 9900 | €109,898 | €81,793 | -€28,105 | -25.6% |
| Operating profit (loss) | 9901 | €100,394 | €69,273 | -€31,120 | -31.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -6.3% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -6.3% |
| Financial charges | 65/66B | €945 | €1,272 | +€326 | +34.5% |
| Recurring financial charges | 65 | €945 | €1,272 | +€326 | +34.5% |
| Profit (loss) for the period before taxes | 9903 | €99,449 | €68,002 | -€31,447 | -31.6% |
| Income taxes | 67/77 | €18,802 | €17,653 | -€1,149 | -6.1% |
| Profit (loss) for the period | 9904 | €80,647 | €50,349 | -€30,298 | -37.6% |
| Profit (loss) for the period to be appropriated | 9905 | €80,647 | €50,349 | -€30,298 | -37.6% |
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.