D.F: 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.F
Largest movements
- Cash -€19,639
down €19,639 (-56.4%), from €34,814 to €15,175
mainly Contributions, distributions and other (-€65,000) and Investment in fixed assets (net) (-€25,632)
- Tangible fixed assets +€15,004
up €15,004 (+87.9%), from €17,066 to €32,070
- Receivables within one year +€10,858
up €10,858 (+15.6%), from €69,397 to €80,255
- Profit (loss) carried forward -€70,211
down €70,211, from €67,477 to -€2,734
- Other debts +€55,250
new in 2025: €55,250
- Debts after one year +€13,120
up €13,120 (+210%), from €6,257 to €19,377
- Tax, wage and social debts +€6,264
up €6,264 (+30.6%), from €20,472 to €26,736
of which Taxes: +€6,074
- Current portion of long-term debt +€4,405
up €4,405 (+62.0%), from €7,103 to €11,509
- Gross operating margin -€46,408
down €46,408 (-51.2%), from €90,717 to €44,309
- Turnover -€31,317
down €31,317 (-15.0%), from €208,206 to €176,888
- Purchases and services +€15,090
up €15,090 (+12.8%), from €117,489 to €132,579
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 | €121,352 | €127,575 | +€6,223 | +5.1% |
| Fixed assets | 21/28 | €17,141 | €32,145 | +€15,004 | +87.5% |
| Tangible fixed assets | 22/27 | €17,066 | €32,070 | +€15,004 | +87.9% |
| Furniture and vehicles | 24 | €17,066 | €32,070 | +€15,004 | +87.9% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €104,211 | €95,430 | -€8,781 | -8.4% |
| Amounts receivable within one year | 40/41 | €69,397 | €80,255 | +€10,858 | +15.6% |
| Other amounts receivable | 41 | €69,397 | €80,255 | +€10,858 | +15.6% |
| Cash at bank and in hand | 54/58 | €34,814 | €15,175 | -€19,639 | -56.4% |
| Total equity and liabilities | 10/49 | €121,352 | €127,575 | +€6,223 | +5.1% |
| Equity | 10/15 | €77,477 | €7,266 | -€70,211 | -90.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,477 | -€2,734 | -€70,211 | |
| Amounts payable | 17/49 | €43,875 | €120,309 | +€76,434 | +174% |
| Amounts payable after more than one year | 17 | €6,257 | €19,377 | +€13,120 | +210% |
| Financial debts | 170/4 | €6,257 | €19,377 | +€13,120 | +210% |
| Amounts payable within one year | 42/48 | €37,618 | €100,931 | +€63,314 | +168% |
| Current portion of amounts payable after more than one year | 42 | €7,103 | €11,509 | +€4,405 | +62.0% |
| Trade debts | 44 | €10,042 | €7,437 | -€2,605 | -25.9% |
| Suppliers | 440/4 | €10,042 | €7,437 | -€2,605 | -25.9% |
| Taxes, remuneration and social security | 45 | €20,472 | €26,736 | +€6,264 | +30.6% |
| Taxes | 450/3 | €15,623 | €21,697 | +€6,074 | +38.9% |
| Remuneration and social security | 454/9 | €4,849 | €5,039 | +€190 | +3.9% |
| Other amounts payable | 47/48 | - | €55,250 | +€55,250 | |
| Turnover | 70 | €208,206 | €176,888 | -€31,317 | -15.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €117,489 | €132,579 | +€15,090 | +12.8% |
| Remuneration, social security and pensions | 62 | €32,097 | €33,087 | +€990 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,645 | €10,628 | +€983 | +10.2% |
| Other operating charges | 640/8 | €1,332 | €1,311 | -€21 | -1.6% |
| Non-recurring operating charges | 66A | €2,247 | €1,116 | -€1,130 | -50.3% |
| Gross operating margin | 9900 | €90,717 | €44,309 | -€46,408 | -51.2% |
| Operating profit (loss) | 9901 | €45,397 | -€1,833 | -€47,230 | |
| Financial income | 75/76B | €523 | €2,073 | +€1,551 | +297% |
| Recurring financial income | 75 | €6 | €1,964 | +€1,958 | +33,699% |
| Non-recurring financial income | 76B | €517 | €110 | -€407 | -78.8% |
| Financial charges | 65/66B | €2,475 | €1,333 | -€1,142 | -46.1% |
| Recurring financial charges | 65 | €2,475 | €1,291 | -€1,184 | -47.8% |
| Non-recurring financial charges | 66B | - | €43 | +€43 | |
| Profit (loss) for the period before taxes | 9903 | €43,444 | -€1,093 | -€44,537 | |
| Income taxes | 67/77 | €2,218 | €4,118 | +€1,900 | +85.6% |
| Profit (loss) for the period | 9904 | €41,226 | -€5,211 | -€46,437 | |
| Profit (loss) for the period to be appropriated | 9905 | €41,226 | -€5,211 | -€46,437 |
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 20 October 2026 via checked.be.