D. design: 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. design
Largest movements
- Cash -€94,407
down €94,407 (-70.7%), from €133,478 to €39,071
mainly Contributions, distributions and other (-€194,922) and Receivables within one year (-€48,645)
- Receivables within one year +€48,645
up €48,645 (+106%), from €46,093 to €94,738
of which Trade receivables: +€39,934
- Tangible fixed assets -€24,063
down €24,063 (-3.9%), from €617,819 to €593,756
of which Land and buildings: -€27,711
- Reserves -€161,730
down €161,730 (-83.0%), from €194,922 to €33,192
- Other debts +€141,781
up €141,781 (+194%), from €72,986 to €214,767
- Trade debts -€39,000
down €39,000 (-78.3%), from €49,793 to €10,793
- Debts after one year -€29,150
down €29,150 (-6.8%), from €431,785 to €402,635
- Tax, wage and social debts +€24,521
up €24,521 (+90.5%), from €27,100 to €51,621
of which Taxes: +€21,759
- Gross operating margin +€46,787
up €46,787 (+28.9%), from €161,764 to €208,551
- Taxes +€14,865
up €14,865 (+144%), from €10,299 to €25,164
- Financial charges +€8,895
up €8,895 (+50.4%), from €17,654 to €26,549
- Other operating charges +€7,514
up €7,514 (+335%), from €2,243 to €9,757
- Depreciation +€4,545
up €4,545 (+11.4%), from €39,975 to €44,520
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 | €806,397 | €743,658 | -€62,740 | -7.8% |
| Fixed assets | 21/28 | €617,819 | €593,756 | -€24,063 | -3.9% |
| Tangible fixed assets | 22/27 | €617,819 | €593,756 | -€24,063 | -3.9% |
| Land and buildings | 22 | €561,586 | €533,875 | -€27,711 | -4.9% |
| Plant, machinery and equipment | 23 | €42,056 | €43,351 | +€1,296 | +3.1% |
| Furniture and vehicles | 24 | €9,166 | €12,177 | +€3,011 | +32.8% |
| Other tangible fixed assets | 26 | €5,011 | €4,352 | -€658 | -13.1% |
| Current assets | 29/58 | €188,578 | €149,902 | -€38,676 | -20.5% |
| Stocks and contracts in progress | 3 | €8,550 | €8,250 | -€300 | -3.5% |
| Stocks | 30/36 | €8,550 | €8,250 | -€300 | -3.5% |
| Amounts receivable within one year | 40/41 | €46,093 | €94,738 | +€48,645 | +106% |
| Trade receivables | 40 | €46,093 | €86,028 | +€39,934 | +86.6% |
| Other amounts receivable | 41 | - | €8,710 | +€8,710 | |
| Cash at bank and in hand | 54/58 | €133,478 | €39,071 | -€94,407 | -70.7% |
| Deferred charges and accrued income | 490/1 | €457 | €7,843 | +€7,386 | +1,617% |
| Total equity and liabilities | 10/49 | €806,397 | €743,658 | -€62,740 | -7.8% |
| Equity | 10/15 | €196,422 | €34,692 | -€161,730 | -82.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €194,922 | €33,192 | -€161,730 | -83.0% |
| Distributable reserves | 133 | €194,922 | €33,192 | -€161,730 | -83.0% |
| Amounts payable | 17/49 | €609,976 | €708,966 | +€98,990 | +16.2% |
| Amounts payable after more than one year | 17 | €431,785 | €402,635 | -€29,150 | -6.8% |
| Financial debts | 170/4 | €431,785 | €402,635 | -€29,150 | -6.8% |
| Amounts payable within one year | 42/48 | €178,191 | €306,331 | +€128,140 | +71.9% |
| Current portion of amounts payable after more than one year | 42 | €28,312 | €29,150 | +€838 | +3.0% |
| Trade debts | 44 | €49,793 | €10,793 | -€39,000 | -78.3% |
| Suppliers | 440/4 | €49,793 | €10,793 | -€39,000 | -78.3% |
| Taxes, remuneration and social security | 45 | €27,100 | €51,621 | +€24,521 | +90.5% |
| Taxes | 450/3 | €18,043 | €39,803 | +€21,759 | +121% |
| Remuneration and social security | 454/9 | €9,056 | €11,818 | +€2,762 | +30.5% |
| Other amounts payable | 47/48 | €72,986 | €214,767 | +€141,781 | +194% |
| Non-recurring operating income | 76A | €4,327 | - | -€4,327 | |
| Remuneration, social security and pensions | 62 | €67,614 | €71,210 | +€3,596 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,975 | €44,520 | +€4,545 | +11.4% |
| Other operating charges | 640/8 | €2,243 | €9,757 | +€7,514 | +335% |
| Gross operating margin | 9900 | €161,764 | €208,551 | +€46,787 | +28.9% |
| Operating profit (loss) | 9901 | €51,931 | €83,064 | +€31,133 | +60.0% |
| Financial income | 75/76B | €1,798 | €1,841 | +€43 | +2.4% |
| Recurring financial income | 75 | €1,798 | €1,841 | +€43 | +2.4% |
| Financial charges | 65/66B | €17,654 | €26,549 | +€8,895 | +50.4% |
| Recurring financial charges | 65 | €17,654 | €26,549 | +€8,895 | +50.4% |
| Profit (loss) for the period before taxes | 9903 | €36,075 | €58,356 | +€22,281 | +61.8% |
| Income taxes | 67/77 | €10,299 | €25,164 | +€14,865 | +144% |
| Profit (loss) for the period | 9904 | €25,776 | €33,192 | +€7,416 | +28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,776 | €33,192 | +€7,416 | +28.8% |
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 29 October 2026 via checked.be.