D et SI: 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 et SI
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€8,833
2024 · -€27,224+€18,391
Equity
€1.1m
2024 · €1.1m-€8,833
Cash
€12,179
2024 · €329+€11,850
Balance sheet total
€1.6m
2024 · €1.6m-€47,336
Largest movements
Assets
- Receivables within one year -€51,294
down €51,294 (-5.6%), from €908,693 to €857,399
Equity and liabilities
- Debts after one year -€32,308
down €32,308 (-10.0%), from €322,583 to €290,275
Income statement
- Gross operating margin +€19,671
up €19,671, from -€5,579 to €14,093
- Other operating charges +€1,966
up €1,966 (+511.4%), from €384 to €2,350
- Financial charges -€1,727
down €1,727 (-8.3%), from €20,741 to €19,014
- Financial income -€1,041
down €1,041 (-14.1%), from €7,410 to €6,368
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
-€27,224
Gross operating margin
+€19,671
Other operating charges
-€1,966
Financial income
-€1,041
Financial charges
+€1,727
Result 2025
-€8,833
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
+€44,242
Investment
€0
Financing
-€32,391
Cash 2024
€329
From operations (derived)
+€44,242
Net result for the year
-€8,833
Depreciation
+€9,467
Receivables after one year
+€8,569
Receivables within one year
+€51,294
Deferred charges and accrued income
-€10,143
Provisions
-€1,538
Trade debts
-€5,291
Accrued charges and deferred income
+€718
Financing
-€32,391
Debts after one year
-€32,308
Current portion of long-term debt
+€878
Short-term financial debts
-€961
Cash 2025
€12,179
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,611,381 | €1,564,045 | -€47,336 | -2.9% |
| Fixed assets | 21/28 | €442,575 | €433,108 | -€9,467 | -2.1% |
| Tangible fixed assets | 22/27 | €442,575 | €433,108 | -€9,467 | -2.1% |
| Land and buildings | 22 | €442,575 | €433,108 | -€9,467 | -2.1% |
| Current assets | 29/58 | €1,168,806 | €1,130,937 | -€37,869 | -3.2% |
| Amounts receivable after more than one year | 29 | €63,147 | €54,579 | -€8,569 | -13.6% |
| Other amounts receivable | 291 | €63,147 | €54,579 | -€8,569 | -13.6% |
| Amounts receivable within one year | 40/41 | €908,693 | €857,399 | -€51,294 | -5.6% |
| Other amounts receivable | 41 | €908,693 | €857,399 | -€51,294 | -5.6% |
| Current investments | 50/53 | €101,936 | €101,936 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €329 | €12,179 | +€11,850 | +3605.8% |
| Deferred charges and accrued income | 490/1 | €94,701 | €104,844 | +€10,143 | +10.7% |
| Total equity and liabilities | 10/49 | €1,611,381 | €1,564,045 | -€47,336 | -2.9% |
| Equity | 10/15 | €1,099,807 | €1,090,973 | -€8,833 | -0.8% |
| Contributions | 10/11 | €303,670 | €303,670 | = | 0.0% |
| Capital | 10 | €303,670 | €303,670 | = | 0.0% |
| Issued capital | 100 | €303,670 | €303,670 | = | 0.0% |
| Reserves | 13 | €143,004 | €138,391 | -€4,613 | -3.2% |
| Non-distributable reserves | 130/1 | €30,367 | €30,367 | = | 0.0% |
| Legal reserve | 130 | €30,367 | €30,367 | = | 0.0% |
| Tax-exempt reserves | 132 | €112,637 | €108,024 | -€4,613 | -4.1% |
| Profit (loss) carried forward | 14 | €653,133 | €648,912 | -€4,221 | -0.6% |
| Provisions and deferred taxes | 16 | €49,313 | €47,776 | -€1,538 | -3.1% |
| Deferred taxes | 168 | €49,313 | €47,776 | -€1,538 | -3.1% |
| Amounts payable | 17/49 | €462,261 | €425,296 | -€36,965 | -8.0% |
| Amounts payable after more than one year | 17 | €322,583 | €290,275 | -€32,308 | -10.0% |
| Financial debts | 170/4 | €322,583 | €290,275 | -€32,308 | -10.0% |
| Amounts payable within one year | 42/48 | €134,500 | €129,126 | -€5,375 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €31,430 | €32,308 | +€878 | +2.8% |
| Financial debts | 43 | €75,927 | €74,966 | -€961 | -1.3% |
| Credit institutions | 430/8 | €75,927 | €74,966 | -€961 | -1.3% |
| Trade debts | 44 | €27,143 | €21,852 | -€5,291 | -19.5% |
| Suppliers | 440/4 | €27,143 | €21,852 | -€5,291 | -19.5% |
| Accrued charges and deferred income | 492/3 | €5,178 | €5,895 | +€718 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,467 | €9,467 | = | 0.0% |
| Other operating charges | 640/8 | €384 | €2,350 | +€1,966 | +511.4% |
| Gross operating margin | 9900 | -€5,579 | €14,093 | +€19,671 | |
| Operating profit (loss) | 9901 | -€15,430 | €2,275 | +€17,705 | |
| Financial income | 75/76B | €7,410 | €6,368 | -€1,041 | -14.1% |
| Recurring financial income | 75 | €7,410 | €6,368 | -€1,041 | -14.1% |
| Financial charges | 65/66B | €20,741 | €19,014 | -€1,727 | -8.3% |
| Recurring financial charges | 65 | €20,741 | €19,014 | -€1,727 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | -€28,762 | -€10,371 | +€18,391 | +63.9% |
| Transfer from deferred taxes | 780 | €1,538 | €1,538 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€27,224 | -€8,833 | +€18,391 | +67.6% |
| Transfer from tax-exempt reserves | 789 | €4,613 | €4,613 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,612 | -€4,221 | +€18,391 | +81.3% |
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.