D en M: 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.
What changed
D en M
NACE 56.112, Limited-service restaurants, excluding mobile food services
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€126,781
2024 · €23,380+€103,401
Equity
€494,493
2024 · €367,712+€126,781
Cash
€8,109
2024 · €10,510-€2,402
Balance sheet total
€1.2m
2024 · €2.1m-€956,876
Largest movements
Assets
- Financial fixed assets -€875,000
down €875,000 (-99.9%), from €875,617 to €617
- Tangible fixed assets -€42,311
down €42,311 (-4.1%), from €1.0m to €995,777
of which Furniture and vehicles: -€22,744
- Deferred charges and accrued income -€23,963
down €23,963 (-100.0%), from €23,967 to €4
Equity and liabilities
- Debts after one year -€1.1m
down €1.1m (-66.6%), from €1.6m to €545,519
- Profit (loss) carried forward +€126,781
up €126,781 (+34.0%), from -€373,277 to -€246,496
- Other debts +€37,999
up €37,999 (+183.9%), from €20,666 to €58,665
- Trade debts -€27,608
down €27,608 (-51.1%), from €54,056 to €26,448
Income statement
- Gross operating margin +€96,765
up €96,765 (+52.5%), from €184,360 to €281,124
- Financial charges -€4,018
down €4,018 (-71.5%), from €5,620 to €1,603
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.
Result 2024
€23,380
Gross operating margin
+€96,765
Staff costs
+€2,716
Depreciation
+€1,241
Other operating charges
-€796
Other operating items
-€697
Financial income
-€97
Financial charges
+€4,018
Taxes
+€251
Result 2025
€126,781
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.
From operations
+€219,002
Investment
+€873,191
Financing
-€1.1m
Cash 2024
€10,510
From operations (derived)
+€219,002
Net result for the year
+€126,781
Depreciation
+€44,120
Smaller working-capital items
-€1,691
Receivables within one year
+€12,721
Deferred charges and accrued income
+€23,963
Trade debts
-€27,608
Tax, wage and social debts
+€2,716
Other debts
+€37,999
Investment (derived)
+€873,191
Investment in fixed assets (net)
+€873,191
Financing
-€1.1m
Debts after one year
-€1.1m
Current portion of long-term debt
-€8,440
Cash 2025
€8,109
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,130,336 | €1,173,460 | -€956,876 | -44.9% |
| Fixed assets | 21/28 | €1,913,705 | €996,394 | -€917,311 | -47.9% |
| Tangible fixed assets | 22/27 | €1,038,088 | €995,777 | -€42,311 | -4.1% |
| Land and buildings | 22 | €929,059 | €925,138 | -€3,921 | -0.4% |
| Plant, machinery and equipment | 23 | €60,449 | €44,802 | -€15,646 | -25.9% |
| Furniture and vehicles | 24 | €48,581 | €25,837 | -€22,744 | -46.8% |
| Financial fixed assets | 28 | €875,617 | €617 | -€875,000 | -99.9% |
| Current assets | 29/58 | €216,630 | €177,066 | -€39,565 | -18.3% |
| Stocks and contracts in progress | 3 | €51,257 | €50,778 | -€479 | -0.9% |
| Stocks | 30/36 | €51,257 | €50,778 | -€479 | -0.9% |
| Amounts receivable within one year | 40/41 | €130,896 | €118,175 | -€12,721 | -9.7% |
| Trade receivables | 40 | €130,500 | €117,318 | -€13,182 | -10.1% |
| Other amounts receivable | 41 | €396 | €857 | +€461 | +116.3% |
| Cash at bank and in hand | 54/58 | €10,510 | €8,109 | -€2,402 | -22.9% |
| Deferred charges and accrued income | 490/1 | €23,967 | €4 | -€23,963 | -100.0% |
| Total equity and liabilities | 10/49 | €2,130,336 | €1,173,460 | -€956,876 | -44.9% |
| Equity | 10/15 | €367,712 | €494,493 | +€126,781 | +34.5% |
| Contributions | 10/11 | €86,763 | €86,763 | = | 0.0% |
| Capital | 10 | €86,763 | €86,763 | = | 0.0% |
| Issued capital | 100 | €86,763 | €86,763 | = | 0.0% |
| Revaluation surpluses | 12 | €645,550 | €645,550 | = | 0.0% |
| Reserves | 13 | €8,676 | €8,676 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,676 | €8,676 | = | 0.0% |
| Legal reserve | 130 | €8,676 | €8,676 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€373,277 | -€246,496 | +€126,781 | +34.0% |
| Amounts payable | 17/49 | €1,762,624 | €678,967 | -€1.1m | -61.5% |
| Amounts payable after more than one year | 17 | €1,631,674 | €545,519 | -€1.1m | -66.6% |
| Financial debts | 170/4 | €1,631,674 | €545,519 | -€1.1m | -66.6% |
| Amounts payable within one year | 42/48 | €130,950 | €133,448 | +€2,498 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €32,321 | €23,881 | -€8,440 | -26.1% |
| Trade debts | 44 | €54,056 | €26,448 | -€27,608 | -51.1% |
| Suppliers | 440/4 | €54,056 | €26,448 | -€27,608 | -51.1% |
| Advances received on contracts in progress | 46 | €2,170 | - | -€2,170 | |
| Taxes, remuneration and social security | 45 | €21,738 | €24,454 | +€2,716 | +12.5% |
| Taxes | 450/3 | €14,376 | €17,967 | +€3,591 | +25.0% |
| Remuneration and social security | 454/9 | €7,361 | €6,486 | -€875 | -11.9% |
| Other amounts payable | 47/48 | €20,666 | €58,665 | +€37,999 | +183.9% |
| Non-recurring operating income | 76A | - | €143,190 | +€143,190 | |
| Remuneration, social security and pensions | 62 | €93,397 | €90,682 | -€2,716 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,362 | €44,120 | -€1,241 | -2.7% |
| Other operating charges | 640/8 | €16,028 | €16,824 | +€796 | +5.0% |
| Non-recurring operating charges | 66A | - | €697 | +€697 | |
| Gross operating margin | 9900 | €184,360 | €281,124 | +€96,765 | +52.5% |
| Operating profit (loss) | 9901 | €29,573 | €128,802 | +€99,229 | +335.5% |
| Financial income | 75/76B | €97 | €0 | -€97 | -99.8% |
| Recurring financial income | 75 | €97 | €0 | -€97 | -99.8% |
| Financial charges | 65/66B | €5,620 | €1,603 | -€4,018 | -71.5% |
| Recurring financial charges | 65 | €5,620 | €1,603 | -€4,018 | -71.5% |
| Profit (loss) for the period before taxes | 9903 | €24,049 | €127,199 | +€103,150 | +428.9% |
| Income taxes | 67/77 | €670 | €418 | -€251 | -37.5% |
| Profit (loss) for the period | 9904 | €23,380 | €126,781 | +€103,401 | +442.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,380 | €126,781 | +€103,401 | +442.3% |
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 10 October 2026 via checked.be.