d-fine: 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-fine
Largest movements
- Cash +€31,288
up €31,288 (+249.5%), from €12,540 to €43,827
mainly Net result for the year (+€30,410) and Receivables within one year (+€2,953)
- Receivables within one year -€2,953
down €2,953 (-11.4%), from €25,952 to €22,999
of which Trade receivables: -€3,479
- Deferred charges and accrued income +€1,600
new in 2025: €1,600
- Reserves +€30,410
up €30,410 (+275.2%), from €11,051 to €41,461
- Tax, wage and social debts -€2,077
down €2,077 (-13.3%), from €15,633 to €13,556
of which Remuneration and social security: -€2,700
- Trade debts +€1,108
up €1,108 (+16.3%), from €6,799 to €7,907
- Gross operating margin +€27,947
up €27,947 (+179.2%), from €15,600 to €43,547
- Taxes +€7,726
up €7,726 (+251.9%), from €3,067 to €10,792
- Financial charges +€1,095
up €1,095 (+464.8%), from €236 to €1,330
- Other operating charges +€627
up €627 (+161.9%), from €387 to €1,014
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 | €38,492 | €68,427 | +€29,935 | +77.8% |
| Current assets | 29/58 | €38,492 | €68,427 | +€29,935 | +77.8% |
| Amounts receivable within one year | 40/41 | €25,952 | €22,999 | -€2,953 | -11.4% |
| Trade receivables | 40 | €25,743 | €22,264 | -€3,479 | -13.5% |
| Other amounts receivable | 41 | €209 | €735 | +€526 | +251.2% |
| Cash at bank and in hand | 54/58 | €12,540 | €43,827 | +€31,288 | +249.5% |
| Deferred charges and accrued income | 490/1 | - | €1,600 | +€1,600 | |
| Total equity and liabilities | 10/49 | €38,492 | €68,427 | +€29,935 | +77.8% |
| Equity | 10/15 | €13,551 | €43,961 | +€30,410 | +224.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €11,051 | €41,461 | +€30,410 | +275.2% |
| Distributable reserves | 133 | €11,051 | €41,461 | +€30,410 | +275.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €24,941 | €24,466 | -€475 | -1.9% |
| Amounts payable within one year | 42/48 | €24,941 | €24,466 | -€475 | -1.9% |
| Trade debts | 44 | €6,799 | €7,907 | +€1,108 | +16.3% |
| Suppliers | 440/4 | €6,799 | €7,907 | +€1,108 | +16.3% |
| Taxes, remuneration and social security | 45 | €15,633 | €13,556 | -€2,077 | -13.3% |
| Taxes | 450/3 | €9,933 | €10,556 | +€623 | +6.3% |
| Remuneration and social security | 454/9 | €5,700 | €3,000 | -€2,700 | -47.4% |
| Other amounts payable | 47/48 | €2,509 | €3,003 | +€494 | +19.7% |
| Other operating charges | 640/8 | €387 | €1,014 | +€627 | +161.9% |
| Gross operating margin | 9900 | €15,600 | €43,547 | +€27,947 | +179.2% |
| Operating profit (loss) | 9901 | €15,212 | €42,532 | +€27,320 | +179.6% |
| Financial charges | 65/66B | €236 | €1,330 | +€1,095 | +464.8% |
| Recurring financial charges | 65 | €236 | €1,330 | +€1,095 | +464.8% |
| Profit (loss) for the period before taxes | 9903 | €14,977 | €41,202 | +€26,225 | +175.1% |
| Income taxes | 67/77 | €3,067 | €10,792 | +€7,726 | +251.9% |
| Profit (loss) for the period | 9904 | €11,910 | €30,410 | +€18,500 | +155.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,910 | €30,410 | +€18,500 | +155.3% |
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 9 October 2026 via checked.be.