D. DE DYCKER: 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. DE DYCKER
Largest movements
- Receivables within one year +€256,228
up €256,228 (+3,184%), from €8,047 to €264,275
of which Trade receivables: +€257,836
- Stocks and contracts +€152,609
up €152,609 (+73.0%), from €209,053 to €361,662
- Cash +€82,782
up €82,782 (+49.5%), from €167,278 to €250,060
mainly Net result for the year (+€278,620) and Trade debts (+€137,229)
- Tangible fixed assets +€31,967
up €31,967 (+18.5%), from €172,494 to €204,461
of which Furniture and vehicles: +€45,295
- Reserves +€278,620
up €278,620 (+297%), from €93,673 to €372,293
of which Distributable reserves: +€278,620
- Trade debts +€137,229
up €137,229 (+1,799%), from €7,630 to €144,858
- Tax, wage and social debts +€89,208
up €89,208 (+463%), from €19,271 to €108,479
of which Taxes: +€88,428
- Current portion of long-term debt +€22,647
up €22,647 (+117%), from €19,389 to €42,036
- Gross operating margin +€285,313
up €285,313 (+179%), from €158,972 to €444,285
- Taxes +€110,467
up €110,467 (+581%), from €19,013 to €129,480
- Staff costs +€6,649
new in 2025: €6,649
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 | €575,247 | €1,102,640 | +€527,393 | +91.7% |
| Fixed assets | 21/28 | €172,494 | €208,268 | +€35,773 | +20.7% |
| Intangible fixed assets | 21 | - | €3,807 | +€3,807 | |
| Tangible fixed assets | 22/27 | €172,494 | €204,461 | +€31,967 | +18.5% |
| Land and buildings | 22 | €141,860 | €134,978 | -€6,881 | -4.9% |
| Furniture and vehicles | 24 | €5,468 | €50,763 | +€45,295 | +828% |
| Leasing and similar rights | 25 | €4,599 | €3,965 | -€634 | -13.8% |
| Other tangible fixed assets | 26 | €20,567 | €14,755 | -€5,812 | -28.3% |
| Current assets | 29/58 | €402,753 | €894,372 | +€491,620 | +122% |
| Stocks and contracts in progress | 3 | €209,053 | €361,662 | +€152,609 | +73.0% |
| Stocks | 30/36 | €209,053 | €361,662 | +€152,609 | +73.0% |
| Amounts receivable within one year | 40/41 | €8,047 | €264,275 | +€256,228 | +3,184% |
| Trade receivables | 40 | €5,516 | €263,352 | +€257,836 | +4,674% |
| Other amounts receivable | 41 | €2,531 | €923 | -€1,608 | -63.5% |
| Current investments | 50/53 | €18,375 | €18,375 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €167,278 | €250,060 | +€82,782 | +49.5% |
| Total equity and liabilities | 10/49 | €575,247 | €1,102,640 | +€527,393 | +91.7% |
| Equity | 10/15 | €433,811 | €712,431 | +€278,620 | +64.2% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €93,673 | €372,293 | +€278,620 | +297% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €81,673 | €360,293 | +€278,620 | +341% |
| Profit (loss) carried forward | 14 | €220,138 | €220,138 | = | 0.0% |
| Amounts payable | 17/49 | €141,435 | €390,209 | +€248,773 | +176% |
| Amounts payable after more than one year | 17 | €93,030 | €94,485 | +€1,454 | +1.6% |
| Financial debts | 170/4 | €93,030 | €94,485 | +€1,454 | +1.6% |
| Amounts payable within one year | 42/48 | €48,405 | €295,724 | +€247,319 | +511% |
| Current portion of amounts payable after more than one year | 42 | €19,389 | €42,036 | +€22,647 | +117% |
| Trade debts | 44 | €7,630 | €144,858 | +€137,229 | +1,799% |
| Suppliers | 440/4 | €7,630 | €144,858 | +€137,229 | +1,799% |
| Taxes, remuneration and social security | 45 | €19,271 | €108,479 | +€89,208 | +463% |
| Taxes | 450/3 | €19,271 | €107,699 | +€88,428 | +459% |
| Remuneration and social security | 454/9 | - | €779 | +€779 | |
| Other amounts payable | 47/48 | €2,115 | €351 | -€1,765 | -83.4% |
| Remuneration, social security and pensions | 62 | - | €6,649 | +€6,649 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,549 | €20,494 | +€1,945 | +10.5% |
| Other operating charges | 640/8 | €3,231 | €5,326 | +€2,095 | +64.9% |
| Gross operating margin | 9900 | €158,972 | €444,285 | +€285,313 | +179% |
| Operating profit (loss) | 9901 | €137,192 | €411,815 | +€274,623 | +200% |
| Financial income | 75/76B | €350 | €36 | -€314 | -89.6% |
| Recurring financial income | 75 | €350 | €36 | -€314 | -89.6% |
| Financial charges | 65/66B | €3,304 | €3,752 | +€447 | +13.5% |
| Recurring financial charges | 65 | €3,304 | €3,752 | +€447 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €134,238 | €408,100 | +€273,862 | +204% |
| Income taxes | 67/77 | €19,013 | €129,480 | +€110,467 | +581% |
| Profit (loss) for the period | 9904 | €115,225 | €278,620 | +€163,395 | +142% |
| Profit (loss) for the period to be appropriated | 9905 | €115,225 | €278,620 | +€163,395 | +142% |
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.