D(é)D(a)L(e): 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(é)D(a)L(e)
Largest movements
- Stocks and contracts -€906,660
down €906,660 (-84.7%), from €1.1m to €163,200
- Current investments +€350,000
new in 2025: €350,000
- Cash -€282,919
down €282,919 (-86.9%), from €325,485 to €42,565
mainly Short-term financial debts (-€569,293) and Current investments (-€350,000)
- Short-term financial debts -€569,293
no longer reported in 2025 (was €569,293)
- Tax, wage and social debts -€270,235
down €270,235 (-86.9%), from €311,042 to €40,807
- Reserves +€189,617
up €189,617 (+76.9%), from €246,613 to €436,230
- Trade debts -€129,705
down €129,705 (-82.5%), from €157,296 to €27,591
- Other debts -€47,867
down €47,867 (-44.2%), from €108,384 to €60,517
- Gross operating margin +€81,993
up €81,993 (+26.6%), from €308,389 to €390,382
- Financial charges -€49,181
down €49,181 (-79.0%), from €62,255 to €13,074
- Taxes +€44,067
up €44,067 (+58.5%), from €75,345 to €119,412
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 | €1,420,086 | €592,703 | -€827,383 | -58.3% |
| Fixed assets | 21/28 | €991 | €12,578 | +€11,587 | +1168.9% |
| Tangible fixed assets | 22/27 | €991 | €12,578 | +€11,587 | +1168.9% |
| Furniture and vehicles | 24 | €991 | €12,578 | +€11,587 | +1168.9% |
| Current assets | 29/58 | €1,419,095 | €580,124 | -€838,970 | -59.1% |
| Stocks and contracts in progress | 3 | €1,069,860 | €163,200 | -€906,660 | -84.7% |
| Stocks | 30/36 | €1,069,860 | €163,200 | -€906,660 | -84.7% |
| Amounts receivable within one year | 40/41 | €22,210 | €24,359 | +€2,149 | +9.7% |
| Other amounts receivable | 41 | €22,210 | €24,359 | +€2,149 | +9.7% |
| Current investments | 50/53 | - | €350,000 | +€350,000 | |
| Cash at bank and in hand | 54/58 | €325,485 | €42,565 | -€282,919 | -86.9% |
| Deferred charges and accrued income | 490/1 | €1,540 | - | -€1,540 | |
| Total equity and liabilities | 10/49 | €1,420,086 | €592,703 | -€827,383 | -58.3% |
| Equity | 10/15 | €273,007 | €463,788 | +€190,781 | +69.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €246,613 | €436,230 | +€189,617 | +76.9% |
| Distributable reserves | 133 | €246,613 | €436,230 | +€189,617 | +76.9% |
| Profit (loss) carried forward | 14 | €7,794 | €8,958 | +€1,164 | +14.9% |
| Amounts payable | 17/49 | €1,147,079 | €128,915 | -€1.0m | -88.8% |
| Amounts payable within one year | 42/48 | €1,147,079 | €128,915 | -€1.0m | -88.8% |
| Financial debts | 43 | €569,293 | - | -€569,293 | |
| Credit institutions | 430/8 | €569,293 | - | -€569,293 | |
| Trade debts | 44 | €157,296 | €27,591 | -€129,705 | -82.5% |
| Suppliers | 440/4 | €157,296 | €27,591 | -€129,705 | -82.5% |
| Advances received on contracts in progress | 46 | €1,065 | - | -€1,065 | |
| Taxes, remuneration and social security | 45 | €311,042 | €40,807 | -€270,235 | -86.9% |
| Taxes | 450/3 | €311,042 | €40,807 | -€270,235 | -86.9% |
| Other amounts payable | 47/48 | €108,384 | €60,517 | -€47,867 | -44.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €496 | €3,413 | +€2,918 | +588.8% |
| Other operating charges | 640/8 | €3,021 | €3,492 | +€471 | +15.6% |
| Gross operating margin | 9900 | €308,389 | €390,382 | +€81,993 | +26.6% |
| Operating profit (loss) | 9901 | €304,872 | €383,477 | +€78,605 | +25.8% |
| Financial income | 75/76B | - | €173 | +€173 | |
| Recurring financial income | 75 | - | €173 | +€173 | |
| Financial charges | 65/66B | €62,255 | €13,074 | -€49,181 | -79.0% |
| Recurring financial charges | 65 | €62,255 | €13,074 | -€49,181 | -79.0% |
| Profit (loss) for the period before taxes | 9903 | €242,617 | €370,576 | +€127,959 | +52.7% |
| Income taxes | 67/77 | €75,345 | €119,412 | +€44,067 | +58.5% |
| Profit (loss) for the period | 9904 | €167,272 | €251,164 | +€83,892 | +50.2% |
| Profit (loss) for the period to be appropriated | 9905 | €167,272 | €251,164 | +€83,892 | +50.2% |
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.