D-EW: 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-EW
Largest movements
- Cash +€83,362
up €83,362 (+41.4%), from €201,422 to €284,784
mainly Net result for the year (+€121,474) and Depreciation (+€13,801)
- Tangible fixed assets -€13,801
down €13,801 (-27.9%), from €49,532 to €35,731
- Receivables within one year +€3,744
up €3,744 (+54.6%), from €6,860 to €10,604
- Reserves +€121,474
up €121,474 (+58.9%), from €206,144 to €327,618
- Other debts -€43,294
down €43,294 (-100.0%), from €43,294 to €0
- Gross operating margin +€15,460
up €15,460 (+9.9%), from €155,598 to €171,058
- Taxes +€3,855
up €3,855 (+12.6%), from €30,541 to €34,396
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 | €259,160 | €332,618 | +€73,459 | +28.3% |
| Fixed assets | 21/28 | €49,532 | €35,731 | -€13,801 | -27.9% |
| Tangible fixed assets | 22/27 | €49,532 | €35,731 | -€13,801 | -27.9% |
| Furniture and vehicles | 24 | €49,532 | €35,731 | -€13,801 | -27.9% |
| Current assets | 29/58 | €209,627 | €296,887 | +€87,260 | +41.6% |
| Amounts receivable within one year | 40/41 | €6,860 | €10,604 | +€3,744 | +54.6% |
| Other amounts receivable | 41 | €6,860 | €10,604 | +€3,744 | +54.6% |
| Cash at bank and in hand | 54/58 | €201,422 | €284,784 | +€83,362 | +41.4% |
| Deferred charges and accrued income | 490/1 | €1,345 | €1,499 | +€154 | +11.4% |
| Total equity and liabilities | 10/49 | €259,160 | €332,618 | +€73,459 | +28.3% |
| Equity | 10/15 | €211,144 | €332,618 | +€121,474 | +57.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €206,144 | €327,618 | +€121,474 | +58.9% |
| Distributable reserves | 133 | €206,144 | €327,618 | +€121,474 | +58.9% |
| Amounts payable | 17/49 | €48,016 | €0 | -€48,016 | -100.0% |
| Amounts payable within one year | 42/48 | €47,480 | €0 | -€47,480 | -100.0% |
| Trade debts | 44 | €1,394 | €0 | -€1,394 | -100.0% |
| Suppliers | 440/4 | €1,394 | €0 | -€1,394 | -100.0% |
| Taxes, remuneration and social security | 45 | €2,791 | €0 | -€2,791 | -100.0% |
| Taxes | 450/3 | €2,791 | €0 | -€2,791 | -100.0% |
| Other amounts payable | 47/48 | €43,294 | €0 | -€43,294 | -100.0% |
| Accrued charges and deferred income | 492/3 | €536 | €0 | -€536 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,801 | €13,801 | = | 0.0% |
| Other operating charges | 640/8 | €919 | €1,094 | +€175 | +19.0% |
| Gross operating margin | 9900 | €155,598 | €171,058 | +€15,460 | +9.9% |
| Operating profit (loss) | 9901 | €140,878 | €156,163 | +€15,285 | +10.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €331 | €293 | -€39 | -11.6% |
| Recurring financial charges | 65 | €331 | €293 | -€39 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €140,547 | €155,870 | +€15,323 | +10.9% |
| Income taxes | 67/77 | €30,541 | €34,396 | +€3,855 | +12.6% |
| Profit (loss) for the period | 9904 | €110,005 | €121,474 | +€11,469 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €110,005 | €121,474 | +€11,469 | +10.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.