D&E Management: 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&E Management
Largest movements
- Cash +€160,328
up €160,328 (+1220.9%), from €13,132 to €173,461
mainly Net result for the year (+€379,041) and Current investments (+€125,000)
- Current investments -€125,000
down €125,000 (-100.0%), from €125,000 to €0
- Tangible fixed assets +€35,127
up €35,127 (+27.7%), from €126,641 to €161,768
of which Furniture and vehicles: +€43,295
- Debts after one year +€30,361
up €30,361 (+99.3%), from €30,570 to €60,930
- Tax, wage and social debts +€29,858
up €29,858 (+90.4%), from €33,021 to €62,879
- Financial income +€83,076
up €83,076 (+27.7%), from €299,739 to €382,815
of which Financial income: +€83,076
- Gross operating margin +€56,176
up €56,176 (+133.6%), from €42,047 to €98,223
- Taxes +€25,155
up €25,155 (+94.1%), from €26,726 to €51,881
- Depreciation -€3,211
down €3,211 (-6.6%), from €48,476 to €45,265
- Financial charges +€1,792
up €1,792 (+223.6%), from €801 to €2,593
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 | €2,072,250 | €2,132,784 | +€60,534 | +2.9% |
| Fixed assets | 21/28 | €1,561,753 | €1,595,801 | +€34,047 | +2.2% |
| Intangible fixed assets | 21 | €3,622 | €2,542 | -€1,080 | -29.8% |
| Tangible fixed assets | 22/27 | €126,641 | €161,768 | +€35,127 | +27.7% |
| Land and buildings | 22 | €4,214 | €3,765 | -€448 | -10.6% |
| Plant, machinery and equipment | 23 | €58,627 | €50,907 | -€7,719 | -13.2% |
| Furniture and vehicles | 24 | €63,801 | €107,095 | +€43,295 | +67.9% |
| Financial fixed assets | 28 | €1,431,491 | €1,431,491 | = | 0.0% |
| Current assets | 29/58 | €510,497 | €536,984 | +€26,487 | +5.2% |
| Amounts receivable after more than one year | 29 | €120,000 | €120,000 | = | 0.0% |
| Other amounts receivable | 291 | €120,000 | €120,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €249,448 | €240,385 | -€9,064 | -3.6% |
| Trade receivables | 40 | €12,753 | €9,205 | -€3,549 | -27.8% |
| Other amounts receivable | 41 | €236,695 | €231,180 | -€5,515 | -2.3% |
| Current investments | 50/53 | €125,000 | €0 | -€125,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €13,132 | €173,461 | +€160,328 | +1220.9% |
| Deferred charges and accrued income | 490/1 | €2,916 | €3,139 | +€222 | +7.6% |
| Total equity and liabilities | 10/49 | €2,072,250 | €2,132,784 | +€60,534 | +2.9% |
| Equity | 10/15 | €1,483,707 | €1,470,229 | -€13,477 | -0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,465,107 | €1,451,629 | -€13,477 | -0.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,465,107 | €1,451,629 | -€13,477 | -0.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €588,544 | €662,555 | +€74,011 | +12.6% |
| Amounts payable after more than one year | 17 | €30,570 | €60,930 | +€30,361 | +99.3% |
| Financial debts | 170/4 | €30,570 | €60,930 | +€30,361 | +99.3% |
| Amounts payable within one year | 42/48 | €557,974 | €600,804 | +€42,831 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €23,030 | €32,557 | +€9,526 | +41.4% |
| Trade debts | 44 | €9,831 | €11,227 | +€1,396 | +14.2% |
| Suppliers | 440/4 | €9,831 | €11,227 | +€1,396 | +14.2% |
| Taxes, remuneration and social security | 45 | €33,021 | €62,879 | +€29,858 | +90.4% |
| Taxes | 450/3 | €33,021 | €62,879 | +€29,858 | +90.4% |
| Other amounts payable | 47/48 | €492,091 | €494,142 | +€2,051 | +0.4% |
| Accrued charges and deferred income | 492/3 | €0 | €820 | +€820 | |
| Non-recurring operating income | 76A | €0 | €25,082 | +€25,082 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,476 | €45,265 | -€3,211 | -6.6% |
| Other operating charges | 640/8 | €2,709 | €2,259 | -€450 | -16.6% |
| Gross operating margin | 9900 | €42,047 | €98,223 | +€56,176 | +133.6% |
| Operating profit (loss) | 9901 | -€9,137 | €50,699 | +€59,837 | |
| Financial income | 75/76B | €299,739 | €382,815 | +€83,076 | +27.7% |
| Recurring financial income | 75 | €299,739 | €382,815 | +€83,076 | +27.7% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €801 | €2,593 | +€1,792 | +223.6% |
| Recurring financial charges | 65 | €801 | €2,593 | +€1,792 | +223.6% |
| Profit (loss) for the period before taxes | 9903 | €289,801 | €430,922 | +€141,121 | +48.7% |
| Income taxes | 67/77 | €26,726 | €51,881 | +€25,155 | +94.1% |
| Profit (loss) for the period | 9904 | €263,074 | €379,041 | +€115,966 | +44.1% |
| Profit (loss) for the period to be appropriated | 9905 | €263,074 | €379,041 | +€115,966 | +44.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.