D-EL-SA: 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-EL-SA
Largest movements
- Cash +€34,218
up €34,218 (+75.1%), from €45,566 to €79,784
mainly Net result for the year (+€27,087) and Depreciation (+€20,486)
- Tangible fixed assets -€20,486
down €20,486 (-24.4%), from €84,079 to €63,593
- Current investments -€6,024
down €6,024 (-6.1%), from €99,014 to €92,990
- Reserves +€16,187
up €16,187 (+11.7%), from €137,788 to €153,974
- Debts after one year -€14,875
down €14,875 (-30.2%), from €49,243 to €34,368
- Other debts +€9,540
up €9,540 (+90.4%), from €10,548 to €20,089
- Trade debts -€2,924
down €2,924 (-78.9%), from €3,707 to €783
- Financial income +€4,511
up €4,511 (+1,076%), from €419 to €4,930
- Gross operating margin -€3,373
down €3,373 (-5.3%), from €63,977 to €60,604
- Depreciation +€2,926
up €2,926 (+16.7%), from €17,560 to €20,486
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 | €244,161 | €253,817 | +€9,655 | +4.0% |
| Fixed assets | 21/28 | €84,079 | €63,593 | -€20,486 | -24.4% |
| Tangible fixed assets | 22/27 | €84,079 | €63,593 | -€20,486 | -24.4% |
| Furniture and vehicles | 24 | €84,079 | €63,593 | -€20,486 | -24.4% |
| Current assets | 29/58 | €160,082 | €190,223 | +€30,141 | +18.8% |
| Amounts receivable within one year | 40/41 | €11,950 | €13,325 | +€1,375 | +11.5% |
| Trade receivables | 40 | €10,284 | €10,451 | +€167 | +1.6% |
| Other amounts receivable | 41 | €1,666 | €2,874 | +€1,208 | +72.5% |
| Current investments | 50/53 | €99,014 | €92,990 | -€6,024 | -6.1% |
| Cash at bank and in hand | 54/58 | €45,566 | €79,784 | +€34,218 | +75.1% |
| Deferred charges and accrued income | 490/1 | €3,551 | €4,124 | +€573 | +16.1% |
| Total equity and liabilities | 10/49 | €244,161 | €253,817 | +€9,655 | +4.0% |
| Equity | 10/15 | €152,788 | €168,974 | +€16,187 | +10.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €137,788 | €153,974 | +€16,187 | +11.7% |
| Distributable reserves | 133 | €137,788 | €153,974 | +€16,187 | +11.7% |
| Amounts payable | 17/49 | €91,374 | €84,842 | -€6,532 | -7.1% |
| Amounts payable after more than one year | 17 | €49,243 | €34,368 | -€14,875 | -30.2% |
| Financial debts | 170/4 | €49,243 | €34,368 | -€14,875 | -30.2% |
| Amounts payable within one year | 42/48 | €41,156 | €48,351 | +€7,196 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €21,786 | €22,375 | +€589 | +2.7% |
| Trade debts | 44 | €3,707 | €783 | -€2,924 | -78.9% |
| Suppliers | 440/4 | €3,707 | €783 | -€2,924 | -78.9% |
| Taxes, remuneration and social security | 45 | €5,114 | €5,105 | -€10 | -0.2% |
| Taxes | 450/3 | €5,114 | €5,105 | -€10 | -0.2% |
| Other amounts payable | 47/48 | €10,548 | €20,089 | +€9,540 | +90.4% |
| Accrued charges and deferred income | 492/3 | €975 | €2,123 | +€1,148 | +118% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,560 | €20,486 | +€2,926 | +16.7% |
| Other operating charges | 640/8 | €898 | €277 | -€621 | -69.2% |
| Gross operating margin | 9900 | €63,977 | €60,604 | -€3,373 | -5.3% |
| Operating profit (loss) | 9901 | €45,518 | €39,841 | -€5,678 | -12.5% |
| Financial income | 75/76B | €419 | €4,930 | +€4,511 | +1,076% |
| Recurring financial income | 75 | €419 | €4,930 | +€4,511 | +1,076% |
| Financial charges | 65/66B | €3,655 | €4,080 | +€426 | +11.6% |
| Recurring financial charges | 65 | €3,655 | €4,080 | +€426 | +11.6% |
| Profit (loss) for the period before taxes | 9903 | €42,283 | €40,690 | -€1,593 | -3.8% |
| Income taxes | 67/77 | €13,459 | €13,604 | +€144 | +1.1% |
| Profit (loss) for the period | 9904 | €28,824 | €27,087 | -€1,737 | -6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,824 | €27,087 | -€1,737 | -6.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.