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 -€31,332
down €31,332 (-91.5%), from €34,255 to €2,923
mainly Net result for the year (-€28,795) and Debts after one year (-€16,914)
- Tangible fixed assets -€29,380
down €29,380 (-22.6%), from €130,081 to €100,700
of which Land and buildings: -€18,650
- Stocks and contracts -€4,585
down €4,585 (-8.7%), from €52,975 to €48,390
- Receivables within one year +€3,496
up €3,496 (+63.0%), from €5,550 to €9,046
of which Trade receivables: +€3,486
- Profit (loss) carried forward -€28,795
down €28,795 (-70.4%), from -€40,893 to -€69,688
- Debts after one year -€16,914
down €16,914 (-27.2%), from €62,163 to €45,249
- Current portion of long-term debt -€15,524
down €15,524 (-47.9%), from €32,439 to €16,914
- Gross operating margin -€42,972
down €42,972 (-78.2%), from €54,940 to €11,968
- Depreciation -€2,473
down €2,473 (-7.2%), from €34,516 to €32,043
- Financial charges -€645
down €645 (-11.5%), from €5,604 to €4,959
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 | €226,482 | €165,624 | -€60,857 | -26.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €130,081 | €100,700 | -€29,380 | -22.6% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €130,081 | €100,700 | -€29,380 | -22.6% |
| Land and buildings | 22 | €96,096 | €77,447 | -€18,650 | -19.4% |
| Plant, machinery and equipment | 23 | €18,488 | €13,796 | -€4,692 | -25.4% |
| Furniture and vehicles | 24 | €12,549 | €7,260 | -€5,288 | -42.1% |
| Other tangible fixed assets | 26 | €2,948 | €2,197 | -€751 | -25.5% |
| Current assets | 29/58 | €96,401 | €64,924 | -€31,477 | -32.7% |
| Stocks and contracts in progress | 3 | €52,975 | €48,390 | -€4,585 | -8.7% |
| Stocks | 30/36 | €52,975 | €48,390 | -€4,585 | -8.7% |
| Amounts receivable within one year | 40/41 | €5,550 | €9,046 | +€3,496 | +63.0% |
| Trade receivables | 40 | €5,550 | €9,036 | +€3,486 | +62.8% |
| Other amounts receivable | 41 | - | €10 | +€10 | |
| Cash at bank and in hand | 54/58 | €34,255 | €2,923 | -€31,332 | -91.5% |
| Deferred charges and accrued income | 490/1 | €3,621 | €4,564 | +€943 | +26.0% |
| Total equity and liabilities | 10/49 | €226,482 | €165,624 | -€60,857 | -26.9% |
| Equity | 10/15 | €51,291 | €22,495 | -€28,795 | -56.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €85,984 | €85,984 | = | 0.0% |
| Distributable reserves | 133 | €85,984 | €85,984 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,893 | -€69,688 | -€28,795 | -70.4% |
| Amounts payable | 17/49 | €175,191 | €143,129 | -€32,062 | -18.3% |
| Amounts payable after more than one year | 17 | €62,163 | €45,249 | -€16,914 | -27.2% |
| Financial debts | 170/4 | €62,163 | €45,249 | -€16,914 | -27.2% |
| Amounts payable within one year | 42/48 | €113,028 | €97,881 | -€15,148 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €32,439 | €16,914 | -€15,524 | -47.9% |
| Trade debts | 44 | €3,457 | €4,777 | +€1,320 | +38.2% |
| Suppliers | 440/4 | €3,457 | €4,777 | +€1,320 | +38.2% |
| Taxes, remuneration and social security | 45 | €174 | €149 | -€26 | -14.7% |
| Taxes | 450/3 | €174 | €149 | -€26 | -14.7% |
| Other amounts payable | 47/48 | €76,958 | €76,041 | -€917 | -1.2% |
| Non-recurring operating income | 76A | - | €300 | +€300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,516 | €32,043 | -€2,473 | -7.2% |
| Other operating charges | 640/8 | €4,050 | €3,741 | -€309 | -7.6% |
| Gross operating margin | 9900 | €54,940 | €11,968 | -€42,972 | -78.2% |
| Operating profit (loss) | 9901 | €16,373 | -€23,817 | -€40,190 | |
| Financial income | 75/76B | €176 | €119 | -€57 | -32.5% |
| Recurring financial income | 75 | €176 | €119 | -€57 | -32.5% |
| Financial charges | 65/66B | €5,604 | €4,959 | -€645 | -11.5% |
| Recurring financial charges | 65 | €5,604 | €4,959 | -€645 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €10,946 | -€28,656 | -€39,602 | |
| Income taxes | 67/77 | €134 | €139 | +€5 | +3.8% |
| Profit (loss) for the period | 9904 | €10,812 | -€28,795 | -€39,607 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,812 | -€28,795 | -€39,607 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.