D & G: 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 & G
Largest movements
- Receivables within one year +€25,835
up €25,835 (+2727.5%), from €947 to €26,782
of which Trade receivables: +€25,922
- Tangible fixed assets -€24,161
down €24,161 (-3.9%), from €622,683 to €598,522
of which Land and buildings: -€16,784
- Debts after one year -€69,191
down €69,191 (-19.3%), from €359,295 to €290,104
of which Other amounts payable: -€252,563
- Current portion of long-term debt +€47,170
up €47,170 (+169.4%), from €27,846 to €75,016
- Reserves -€26,745
down €26,745 (-22.4%), from €119,340 to €92,595
- Other debts +€20,142
up €20,142 (+91.5%), from €22,020 to €42,162
- Trade debts +€19,032
up €19,032 (+466.4%), from €4,081 to €23,112
- Gross operating margin -€22,210
down €22,210 (-22.8%), from €97,525 to €75,314
- Other operating charges +€3,786
up €3,786 (+43.5%), from €8,705 to €12,491
- Financial charges +€3,548
up €3,548 (+25.5%), from €13,895 to €17,443
- Taxes -€2,686
down €2,686 (-16.6%), from €16,175 to €13,489
- Financial income -€1,145
down €1,145 (-37.3%), from €3,069 to €1,924
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €777,769 | €766,652 | -€11,117 | -1.4% |
| Fixed assets | 21/28 | €656,178 | €632,017 | -€24,161 | -3.7% |
| Tangible fixed assets | 22/27 | €622,683 | €598,522 | -€24,161 | -3.9% |
| Land and buildings | 22 | €476,479 | €459,695 | -€16,784 | -3.5% |
| Furniture and vehicles | 24 | €8,280 | €5,409 | -€2,871 | -34.7% |
| Other tangible fixed assets | 26 | €137,924 | €133,419 | -€4,505 | -3.3% |
| Financial fixed assets | 28 | €33,495 | €33,495 | = | 0.0% |
| Current assets | 29/58 | €121,591 | €134,635 | +€13,044 | +10.7% |
| Amounts receivable after more than one year | 29 | €101,771 | €94,122 | -€7,650 | -7.5% |
| Other amounts receivable | 291 | €101,771 | €94,122 | -€7,650 | -7.5% |
| Amounts receivable within one year | 40/41 | €947 | €26,782 | +€25,835 | +2727.5% |
| Trade receivables | 40 | €860 | €26,782 | +€25,922 | +3014.6% |
| Other amounts receivable | 41 | €87 | €0 | -€87 | -100.0% |
| Cash at bank and in hand | 54/58 | €12,630 | €11,241 | -€1,389 | -11.0% |
| Deferred charges and accrued income | 490/1 | €6,243 | €2,491 | -€3,752 | -60.1% |
| Total equity and liabilities | 10/49 | €777,769 | €766,652 | -€11,117 | -1.4% |
| Equity | 10/15 | €346,235 | €313,727 | -€32,508 | -9.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Revaluation surpluses | 12 | €208,345 | €202,581 | -€5,763 | -2.8% |
| Reserves | 13 | €119,340 | €92,595 | -€26,745 | -22.4% |
| Distributable reserves | 133 | €119,340 | €92,595 | -€26,745 | -22.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €431,534 | €452,925 | +€21,392 | +5.0% |
| Amounts payable after more than one year | 17 | €359,295 | €290,104 | -€69,191 | -19.3% |
| Financial debts | 170/4 | €97,300 | €280,672 | +€183,372 | +188.5% |
| Other amounts payable | 178/9 | €261,995 | €9,432 | -€252,563 | -96.4% |
| Amounts payable within one year | 42/48 | €72,239 | €161,639 | +€89,400 | +123.8% |
| Current portion of amounts payable after more than one year | 42 | €27,846 | €75,016 | +€47,170 | +169.4% |
| Financial debts | 43 | €12,531 | €0 | -€12,531 | -100.0% |
| Credit institutions | 430/8 | €12,531 | €0 | -€12,531 | -100.0% |
| Trade debts | 44 | €4,081 | €23,112 | +€19,032 | +466.4% |
| Suppliers | 440/4 | €4,081 | €23,112 | +€19,032 | +466.4% |
| Taxes, remuneration and social security | 45 | €5,762 | €21,349 | +€15,587 | +270.5% |
| Taxes | 450/3 | €5,762 | €21,349 | +€15,587 | +270.5% |
| Other amounts payable | 47/48 | €22,020 | €42,162 | +€20,142 | +91.5% |
| Accrued charges and deferred income | 492/3 | - | €1,182 | +€1,182 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,119 | €24,161 | -€958 | -3.8% |
| Other operating charges | 640/8 | €8,705 | €12,491 | +€3,786 | +43.5% |
| Gross operating margin | 9900 | €97,525 | €75,314 | -€22,210 | -22.8% |
| Operating profit (loss) | 9901 | €63,700 | €38,662 | -€25,038 | -39.3% |
| Financial income | 75/76B | €3,069 | €1,924 | -€1,145 | -37.3% |
| Recurring financial income | 75 | €3,069 | €1,924 | -€1,145 | -37.3% |
| Financial charges | 65/66B | €13,895 | €17,443 | +€3,548 | +25.5% |
| Recurring financial charges | 65 | €13,895 | €17,443 | +€3,548 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | €52,874 | €23,143 | -€29,731 | -56.2% |
| Income taxes | 67/77 | €16,175 | €13,489 | -€2,686 | -16.6% |
| Profit (loss) for the period | 9904 | €36,699 | €9,654 | -€27,045 | -73.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,699 | €9,654 | -€27,045 | -73.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.