D ET B ELEC: what changed
D ET B ELEC
Largest movements
- Receivables within one year +€84,570
up €84,570 (+76.3%), from €110,833 to €195,403
of which Trade receivables: +€87,720
- Cash -€68,835
down €68,835 (-20.6%), from €334,526 to €265,690
mainly Other debts (-€248,321) and Receivables within one year (-€84,570)
- Tangible fixed assets -€15,556
down €15,556 (-15.4%), from €101,049 to €85,494
of which Furniture and vehicles: -€11,696
- Other debts -€248,321
down €248,321 (-94.8%), from €261,806 to €13,485
- Reserves +€168,349
up €168,349 (+106%), from €159,055 to €327,404
of which Distributable reserves: +€168,349
- Tax, wage and social debts +€65,382
up €65,382 (+491%), from €13,327 to €78,710
of which Taxes: +€64,000
- Trade debts +€38,692
up €38,692 (+95.4%), from €40,561 to €79,253
- Debts after one year -€19,577
down €19,577 (-41.6%), from €47,095 to €27,518
- Gross operating margin +€168,557
up €168,557 (+77.4%), from €217,890 to €386,447
- Taxes +€48,650
up €48,650 (+316%), from €15,374 to €64,023
- Depreciation -€13,616
down €13,616 (-46.7%), from €29,171 to €15,556
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €562,314 | €567,330 | +€5,016 | +0.9% |
| Fixed assets | 21/28 | €111,029 | €95,474 | -€15,556 | -14.0% |
| Tangible fixed assets | 22/27 | €101,049 | €85,494 | -€15,556 | -15.4% |
| Land and buildings | 22 | €58,400 | €54,800 | -€3,600 | -6.2% |
| Plant, machinery and equipment | 23 | €1,039 | €779 | -€260 | -25.0% |
| Furniture and vehicles | 24 | €41,610 | €29,915 | -€11,696 | -28.1% |
| Financial fixed assets | 28 | €9,980 | €9,980 | = | 0.0% |
| Current assets | 29/58 | €451,285 | €471,856 | +€20,571 | +4.6% |
| Stocks and contracts in progress | 3 | €5,927 | €9,416 | +€3,489 | +58.9% |
| Stocks | 30/36 | €5,927 | €9,416 | +€3,489 | +58.9% |
| Amounts receivable within one year | 40/41 | €110,833 | €195,403 | +€84,570 | +76.3% |
| Trade receivables | 40 | €94,445 | €182,165 | +€87,720 | +92.9% |
| Other amounts receivable | 41 | €16,388 | €13,238 | -€3,150 | -19.2% |
| Cash at bank and in hand | 54/58 | €334,526 | €265,690 | -€68,835 | -20.6% |
| Deferred charges and accrued income | 490/1 | - | €1,347 | +€1,347 | |
| Total equity and liabilities | 10/49 | €562,314 | €567,330 | +€5,016 | +0.9% |
| Equity | 10/15 | €180,438 | €348,787 | +€168,349 | +93.3% |
| Contributions | 10/11 | €21,384 | €21,384 | = | 0.0% |
| Capital | 10 | €21,384 | €21,384 | = | 0.0% |
| Issued capital | 100 | €21,384 | €21,384 | = | 0.0% |
| Reserves | 13 | €159,055 | €327,404 | +€168,349 | +106% |
| Non-distributable reserves | 130/1 | €2,138 | €2,138 | = | 0.0% |
| Legal reserve | 130 | €2,138 | €2,138 | = | 0.0% |
| Distributable reserves | 133 | €156,916 | €325,265 | +€168,349 | +107% |
| Amounts payable | 17/49 | €381,876 | €218,542 | -€163,333 | -42.8% |
| Amounts payable after more than one year | 17 | €47,095 | €27,518 | -€19,577 | -41.6% |
| Financial debts | 170/4 | €47,095 | €27,518 | -€19,577 | -41.6% |
| Amounts payable within one year | 42/48 | €334,781 | €191,025 | -€143,756 | -42.9% |
| Current portion of amounts payable after more than one year | 42 | €19,086 | €19,577 | +€491 | +2.6% |
| Trade debts | 44 | €40,561 | €79,253 | +€38,692 | +95.4% |
| Suppliers | 440/4 | €40,561 | €79,253 | +€38,692 | +95.4% |
| Taxes, remuneration and social security | 45 | €13,327 | €78,710 | +€65,382 | +491% |
| Taxes | 450/3 | €3,000 | €67,000 | +€64,000 | +2,133% |
| Remuneration and social security | 454/9 | €10,327 | €11,710 | +€1,382 | +13.4% |
| Other amounts payable | 47/48 | €261,806 | €13,485 | -€248,321 | -94.8% |
| Non-recurring operating income | 76A | €4,643 | €2,718 | -€1,925 | -41.5% |
| Remuneration, social security and pensions | 62 | €134,130 | €134,614 | +€485 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,171 | €15,556 | -€13,616 | -46.7% |
| Other operating charges | 640/8 | €1,601 | €1,258 | -€343 | -21.4% |
| Non-recurring operating charges | 66A | €1,460 | €1,048 | -€412 | -28.2% |
| Gross operating margin | 9900 | €217,890 | €386,447 | +€168,557 | +77.4% |
| Operating profit (loss) | 9901 | €51,527 | €233,970 | +€182,443 | +354% |
| Financial income | 75/76B | €1,260 | €296 | -€964 | -76.5% |
| Recurring financial income | 75 | €1,260 | €296 | -€964 | -76.5% |
| Financial charges | 65/66B | €4,150 | €1,894 | -€2,257 | -54.4% |
| Recurring financial charges | 65 | €3,255 | €1,714 | -€1,541 | -47.3% |
| Non-recurring financial charges | 66B | €895 | €179 | -€716 | -80.0% |
| Profit (loss) for the period before taxes | 9903 | €48,637 | €232,372 | +€183,735 | +378% |
| Income taxes | 67/77 | €15,374 | €64,023 | +€48,650 | +316% |
| Profit (loss) for the period | 9904 | €33,264 | €168,349 | +€135,085 | +406% |
| Profit (loss) for the period to be appropriated | 9905 | €33,264 | €168,349 | +€135,085 | +406% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.