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
- Tangible fixed assets +€347,615
up €347,615 (+216%), from €160,906 to €508,521
of which Land and buildings: +€378,498
- Receivables within one year +€100,937
up €100,937 (+232%), from €43,414 to €144,351
of which Other amounts receivable: +€86,773
- Cash -€17,989
down €17,989 (-92.1%), from €19,531 to €1,542
mainly Investment in fixed assets (net) (-€384,730) and Receivables within one year (-€100,937)
- Debts after one year +€399,737
up €399,737 (+3,232%), from €12,368 to €412,105
- Trade debts +€36,200
up €36,200 (+39.0%), from €92,872 to €129,072
- Other debts -€30,543
no longer reported in 2025 (was €30,543)
- Current portion of long-term debt +€13,965
up €13,965 (+88.4%), from €15,800 to €29,765
- Reserves +€10,023
up €10,023 (+14.3%), from €70,069 to €80,092
- Financial charges +€28,850
up €28,850 (+1,517%), from €1,902 to €30,752
- Gross operating margin +€20,793
up €20,793 (+17.1%), from €121,910 to €142,703
- Taxes -€9,194
down €9,194 (-99.9%), from €9,203 to €9
- Other operating charges -€5,954
down €5,954 (-79.1%), from €7,528 to €1,574
- Staff costs +€4,923
up €4,923 (+8.8%), from €56,212 to €61,136
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 | €255,365 | €683,119 | +€427,754 | +168% |
| Fixed assets | 21/28 | €168,106 | €513,471 | +€345,365 | +205% |
| Intangible fixed assets | 21 | €6,750 | €4,500 | -€2,250 | -33.3% |
| Tangible fixed assets | 22/27 | €160,906 | €508,521 | +€347,615 | +216% |
| Land and buildings | 22 | - | €378,498 | +€378,498 | |
| Plant, machinery and equipment | 23 | €26,962 | €17,316 | -€9,646 | -35.8% |
| Furniture and vehicles | 24 | €108,103 | €90,333 | -€17,770 | -16.4% |
| Other tangible fixed assets | 26 | €25,841 | €22,374 | -€3,467 | -13.4% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €87,259 | €169,647 | +€82,389 | +94.4% |
| Stocks and contracts in progress | 3 | €21,521 | €17,896 | -€3,625 | -16.8% |
| Stocks | 30/36 | €21,521 | €17,896 | -€3,625 | -16.8% |
| Amounts receivable within one year | 40/41 | €43,414 | €144,351 | +€100,937 | +232% |
| Trade receivables | 40 | €31,936 | €46,101 | +€14,164 | +44.4% |
| Other amounts receivable | 41 | €11,477 | €98,250 | +€86,773 | +756% |
| Cash at bank and in hand | 54/58 | €19,531 | €1,542 | -€17,989 | -92.1% |
| Deferred charges and accrued income | 490/1 | €2,792 | €5,858 | +€3,066 | +110% |
| Total equity and liabilities | 10/49 | €255,365 | €683,119 | +€427,754 | +168% |
| Equity | 10/15 | €90,529 | €100,552 | +€10,023 | +11.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €70,069 | €80,092 | +€10,023 | +14.3% |
| Distributable reserves | 133 | €70,069 | €80,092 | +€10,023 | +14.3% |
| Amounts payable | 17/49 | €164,835 | €582,567 | +€417,731 | +253% |
| Amounts payable after more than one year | 17 | €12,368 | €412,105 | +€399,737 | +3,232% |
| Financial debts | 170/4 | €12,368 | €412,105 | +€399,737 | +3,232% |
| Amounts payable within one year | 42/48 | €152,467 | €170,462 | +€17,994 | +11.8% |
| Current portion of amounts payable after more than one year | 42 | €15,800 | €29,765 | +€13,965 | +88.4% |
| Trade debts | 44 | €92,872 | €129,072 | +€36,200 | +39.0% |
| Suppliers | 440/4 | €92,872 | €129,072 | +€36,200 | +39.0% |
| Taxes, remuneration and social security | 45 | €13,253 | €11,625 | -€1,628 | -12.3% |
| Taxes | 450/3 | €13,253 | €10,000 | -€3,253 | -24.5% |
| Remuneration and social security | 454/9 | - | €1,625 | +€1,625 | |
| Other amounts payable | 47/48 | €30,543 | - | -€30,543 | |
| Non-recurring operating income | 76A | €13,187 | €5,000 | -€8,187 | -62.1% |
| Remuneration, social security and pensions | 62 | €56,212 | €61,136 | +€4,923 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,212 | €39,365 | -€2,847 | -6.7% |
| Other operating charges | 640/8 | €7,528 | €1,574 | -€5,954 | -79.1% |
| Gross operating margin | 9900 | €121,910 | €142,703 | +€20,793 | +17.1% |
| Operating profit (loss) | 9901 | €15,958 | €40,629 | +€24,671 | +155% |
| Financial income | 75/76B | €18 | €155 | +€138 | +781% |
| Recurring financial income | 75 | €18 | €155 | +€138 | +781% |
| Financial charges | 65/66B | €1,902 | €30,752 | +€28,850 | +1,517% |
| Recurring financial charges | 65 | €1,902 | €30,752 | +€28,850 | +1,517% |
| Profit (loss) for the period before taxes | 9903 | €14,073 | €10,032 | -€4,041 | -28.7% |
| Income taxes | 67/77 | €9,203 | €9 | -€9,194 | -99.9% |
| Profit (loss) for the period | 9904 | €4,870 | €10,023 | +€5,153 | +106% |
| Profit (loss) for the period to be appropriated | 9905 | €4,870 | €10,023 | +€5,153 | +106% |
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 20 October 2026 via checked.be.