D&H: 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&H
Largest movements
- Cash -€40,606
down €40,606 (-53.2%), from €76,339 to €35,733
mainly Contributions, distributions and other (-€84,249) and Current investments (-€30,000)
- Current investments +€30,000
up €30,000 (+18.8%), from €160,000 to €190,000
- Tangible fixed assets -€9,588
down €9,588 (-7.9%), from €121,951 to €112,363
of which Land and buildings: -€10,581
- Other debts -€13,688
down €13,688 (-52.5%), from €26,092 to €12,404
- Contributions -€6,200
down €6,200 (-100%), from €6,200 to €0
- Tax, wage and social debts +€4,963
up €4,963 (+64.6%), from €7,678 to €12,641
of which Taxes: +€4,583
- Reserves -€4,335
down €4,335 (-1.3%), from €335,646 to €331,312
of which Distributable reserves: -€2,475
- Gross operating margin +€29,037
up €29,037 (+31.3%), from €92,697 to €121,734
- Taxes +€8,595
up €8,595 (+32.5%), from €26,417 to €35,012
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 | €380,756 | €361,083 | -€19,674 | -5.2% |
| Fixed assets | 21/28 | €121,951 | €112,363 | -€9,588 | -7.9% |
| Tangible fixed assets | 22/27 | €121,951 | €112,363 | -€9,588 | -7.9% |
| Land and buildings | 22 | €104,459 | €93,879 | -€10,581 | -10.1% |
| Furniture and vehicles | 24 | €17,491 | €18,484 | +€993 | +5.7% |
| Current assets | 29/58 | €258,806 | €248,720 | -€10,086 | -3.9% |
| Amounts receivable within one year | 40/41 | €19,592 | €20,857 | +€1,266 | +6.5% |
| Trade receivables | 40 | €14,686 | €15,917 | +€1,230 | +8.4% |
| Other amounts receivable | 41 | €4,905 | €4,941 | +€35 | +0.7% |
| Current investments | 50/53 | €160,000 | €190,000 | +€30,000 | +18.8% |
| Cash at bank and in hand | 54/58 | €76,339 | €35,733 | -€40,606 | -53.2% |
| Deferred charges and accrued income | 490/1 | €2,875 | €2,129 | -€746 | -25.9% |
| Total equity and liabilities | 10/49 | €380,756 | €361,083 | -€19,674 | -5.2% |
| Equity | 10/15 | €341,846 | €331,312 | -€10,535 | -3.1% |
| Contributions | 10/11 | €6,200 | €0 | -€6,200 | -100% |
| Reserves | 13 | €335,646 | €331,312 | -€4,335 | -1.3% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €333,786 | €331,312 | -€2,475 | -0.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €38,910 | €29,771 | -€9,139 | -23.5% |
| Amounts payable within one year | 42/48 | €36,133 | €27,831 | -€8,301 | -23.0% |
| Financial debts | 43 | €12 | €12 | = | 0.0% |
| Credit institutions | 430/8 | €12 | €12 | = | 0.0% |
| Trade debts | 44 | €2,351 | €2,774 | +€424 | +18.0% |
| Suppliers | 440/4 | €2,351 | €2,774 | +€424 | +18.0% |
| Taxes, remuneration and social security | 45 | €7,678 | €12,641 | +€4,963 | +64.6% |
| Taxes | 450/3 | €7,678 | €12,262 | +€4,583 | +59.7% |
| Remuneration and social security | 454/9 | €0 | €380 | +€380 | |
| Other amounts payable | 47/48 | €26,092 | €12,404 | -€13,688 | -52.5% |
| Accrued charges and deferred income | 492/3 | €2,777 | €1,940 | -€838 | -30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,954 | €12,036 | +€1,083 | +9.9% |
| Other operating charges | 640/8 | €3,020 | €3,091 | +€71 | +2.4% |
| Gross operating margin | 9900 | €92,697 | €121,734 | +€29,037 | +31.3% |
| Operating profit (loss) | 9901 | €78,724 | €106,607 | +€27,883 | +35.4% |
| Financial income | 75/76B | €4,408 | €3,274 | -€1,135 | -25.7% |
| Recurring financial income | 75 | €4,408 | €3,274 | -€1,135 | -25.7% |
| Financial charges | 65/66B | €1,870 | €1,155 | -€715 | -38.2% |
| Recurring financial charges | 65 | €1,870 | €1,155 | -€715 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | €81,262 | €108,726 | +€27,463 | +33.8% |
| Income taxes | 67/77 | €26,417 | €35,012 | +€8,595 | +32.5% |
| Profit (loss) for the period | 9904 | €54,846 | €73,714 | +€18,868 | +34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €54,846 | €73,714 | +€18,868 | +34.4% |
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 17 October 2026 via checked.be.