D+D: 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+D
Largest movements
- Intangible fixed assets -€37,374
down €37,374 (-10.0%), from €373,740 to €336,366
- Cash +€24,320
up €24,320 (+440%), from €5,527 to €29,847
mainly Depreciation (+€46,678) and Debts after one year (+€13,330)
- Tangible fixed assets -€5,944
down €5,944 (-3.4%), from €176,244 to €170,300
of which Land and buildings: -€4,995
- Profit (loss) carried forward -€28,339
down €28,339 (-15.9%), from -€178,600 to -€206,938
- Debts after one year +€13,330
up €13,330 (+4.5%), from €296,957 to €310,287
of which Financial debts: +€13,305
- Tax, wage and social debts -€5,850
down €5,850 (-20.3%), from €28,833 to €22,984
- Gross operating margin -€22,803
down €22,803 (-37.9%), from €60,093 to €37,290
- Taxes -€7,565
down €7,565 (-68.2%), from €11,099 to €3,534
- Depreciation +€1,240
up €1,240 (+2.7%), from €45,438 to €46,678
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 | €571,520 | €550,411 | -€21,108 | -3.7% |
| Fixed assets | 21/28 | €551,311 | €507,993 | -€43,318 | -7.9% |
| Intangible fixed assets | 21 | €373,740 | €336,366 | -€37,374 | -10.0% |
| Tangible fixed assets | 22/27 | €176,244 | €170,300 | -€5,944 | -3.4% |
| Land and buildings | 22 | €145,589 | €140,594 | -€4,995 | -3.4% |
| Plant, machinery and equipment | 23 | €30,655 | €29,706 | -€949 | -3.1% |
| Financial fixed assets | 28 | €1,327 | €1,327 | = | 0.0% |
| Current assets | 29/58 | €20,208 | €42,418 | +€22,209 | +110% |
| Amounts receivable within one year | 40/41 | €14,681 | €9,749 | -€4,933 | -33.6% |
| Trade receivables | 40 | €8,549 | €8,549 | = | 0.0% |
| Other amounts receivable | 41 | €6,133 | €1,200 | -€4,933 | -80.4% |
| Cash at bank and in hand | 54/58 | €5,527 | €29,847 | +€24,320 | +440% |
| Deferred charges and accrued income | 490/1 | - | €2,822 | +€2,822 | |
| Total equity and liabilities | 10/49 | €571,520 | €550,411 | -€21,108 | -3.7% |
| Equity | 10/15 | -€8,148 | -€36,487 | -€28,339 | -348% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €120,025 | €120,025 | = | 0.0% |
| Reserves | 13 | €31,834 | €31,834 | = | 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 | €29,975 | €29,975 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€178,600 | -€206,938 | -€28,339 | -15.9% |
| Provisions and deferred taxes | 16 | €80,353 | €80,353 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €80,353 | €80,353 | = | 0.0% |
| Pensions and similar obligations | 160 | €80,353 | €80,353 | = | 0.0% |
| Amounts payable | 17/49 | €499,315 | €506,545 | +€7,230 | +1.4% |
| Amounts payable after more than one year | 17 | €296,957 | €310,287 | +€13,330 | +4.5% |
| Financial debts | 170/4 | €205,246 | €218,552 | +€13,305 | +6.5% |
| Other amounts payable | 178/9 | €91,711 | €91,736 | +€24 | 0.0% |
| Amounts payable within one year | 42/48 | €202,358 | €196,258 | -€6,100 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €21,912 | €27,319 | +€5,407 | +24.7% |
| Trade debts | 44 | €6,354 | €697 | -€5,657 | -89.0% |
| Suppliers | 440/4 | €6,354 | €697 | -€5,657 | -89.0% |
| Taxes, remuneration and social security | 45 | €28,833 | €22,984 | -€5,850 | -20.3% |
| Taxes | 450/3 | €28,833 | €22,984 | -€5,850 | -20.3% |
| Other amounts payable | 47/48 | €145,259 | €145,259 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,438 | €46,678 | +€1,240 | +2.7% |
| Other operating charges | 640/8 | €6,525 | €6,777 | +€252 | +3.9% |
| Non-recurring operating charges | 66A | - | €172 | +€172 | |
| Gross operating margin | 9900 | €60,093 | €37,290 | -€22,803 | -37.9% |
| Operating profit (loss) | 9901 | €8,130 | -€16,337 | -€24,467 | |
| Financial charges | 65/66B | €9,058 | €8,467 | -€591 | -6.5% |
| Recurring financial charges | 65 | €9,058 | €8,467 | -€591 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | -€928 | -€24,804 | -€23,876 | -2,573% |
| Income taxes | 67/77 | €11,099 | €3,534 | -€7,565 | -68.2% |
| Profit (loss) for the period | 9904 | -€12,027 | -€28,339 | -€16,312 | -136% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,027 | -€28,339 | -€16,312 | -136% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.