D-H ELEC: 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 ELEC
Largest movements
- Receivables within one year +€54,014
up €54,014 (+214%), from €25,293 to €79,307
of which Trade receivables: +€52,889
- Cash +€25,049
up €25,049 (+84.8%), from €29,555 to €54,604
mainly Net result for the year (+€77,890) and Tax, wage and social debts (+€8,803)
- Tangible fixed assets -€19,407
down €19,407 (-49.8%), from €38,990 to €19,583
of which Furniture and vehicles: -€19,057
- Financial fixed assets +€4,500
up €4,500 (+651%), from €692 to €5,192
- Profit (loss) carried forward +€77,890
up €77,890 (+170%), from €45,812 to €123,702
- Other debts -€21,000
down €21,000 (-55.1%), from €38,085 to €17,085
- Tax, wage and social debts +€8,803
up €8,803 (+232%), from €3,802 to €12,605
of which Taxes: +€11,932
- Turnover -€254,634
down €254,634 (-100%), from €254,634 to €0
- Purchases and services -€197,767
down €197,767 (-100%), from €197,767 to €0
- Gross operating margin +€37,252
up €37,252 (+54.5%), from €68,347 to €105,599
- Taxes +€9,932
up €9,932 (+99.3%), from €10,000 to €19,932
- Depreciation -€5,614
down €5,614 (-43.8%), from €12,826 to €7,213
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 | €96,455 | €161,353 | +€64,898 | +67.3% |
| Formation expenses | 20 | €763 | €522 | -€240 | -31.5% |
| Fixed assets | 21/28 | €39,681 | €24,774 | -€14,907 | -37.6% |
| Tangible fixed assets | 22/27 | €38,990 | €19,583 | -€19,407 | -49.8% |
| Plant, machinery and equipment | 23 | €1,203 | €853 | -€350 | -29.1% |
| Furniture and vehicles | 24 | €37,787 | €18,730 | -€19,057 | -50.4% |
| Financial fixed assets | 28 | €692 | €5,192 | +€4,500 | +651% |
| Current assets | 29/58 | €56,011 | €136,056 | +€80,046 | +143% |
| Amounts receivable within one year | 40/41 | €25,293 | €79,307 | +€54,014 | +214% |
| Trade receivables | 40 | €20,435 | €73,324 | +€52,889 | +259% |
| Other amounts receivable | 41 | €4,858 | €5,983 | +€1,125 | +23.2% |
| Cash at bank and in hand | 54/58 | €29,555 | €54,604 | +€25,049 | +84.8% |
| Deferred charges and accrued income | 490/1 | €1,162 | €2,145 | +€983 | +84.6% |
| Total equity and liabilities | 10/49 | €96,455 | €161,353 | +€64,898 | +67.3% |
| Equity | 10/15 | €52,812 | €130,702 | +€77,890 | +147% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,812 | €123,702 | +€77,890 | +170% |
| Amounts payable | 17/49 | €43,642 | €30,651 | -€12,992 | -29.8% |
| Amounts payable within one year | 42/48 | €43,642 | €30,651 | -€12,992 | -29.8% |
| Trade debts | 44 | €1,755 | €961 | -€794 | -45.3% |
| Suppliers | 440/4 | €1,755 | €961 | -€794 | -45.3% |
| Taxes, remuneration and social security | 45 | €3,802 | €12,605 | +€8,803 | +232% |
| Taxes | 450/3 | €673 | €12,605 | +€11,932 | +1,774% |
| Remuneration and social security | 454/9 | €3,130 | €0 | -€3,130 | -100% |
| Other amounts payable | 47/48 | €38,085 | €17,085 | -€21,000 | -55.1% |
| Turnover | 70 | €254,634 | €0 | -€254,634 | -100% |
| Goods, raw materials, services and sundry goods | 60/61 | €197,767 | €0 | -€197,767 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,826 | €7,213 | -€5,614 | -43.8% |
| Other operating charges | 640/8 | €213 | €450 | +€237 | +112% |
| Non-recurring operating charges | 66A | €116 | - | -€116 | |
| Gross operating margin | 9900 | €68,347 | €105,599 | +€37,252 | +54.5% |
| Operating profit (loss) | 9901 | €55,193 | €97,937 | +€42,744 | +77.4% |
| Financial income | 75/76B | €822 | €45 | -€776 | -94.5% |
| Recurring financial income | 75 | €822 | €45 | -€776 | -94.5% |
| Financial charges | 65/66B | €202 | €160 | -€42 | -20.8% |
| Recurring financial charges | 65 | €202 | €160 | -€42 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €55,812 | €97,822 | +€42,010 | +75.3% |
| Income taxes | 67/77 | €10,000 | €19,932 | +€9,932 | +99.3% |
| Profit (loss) for the period | 9904 | €45,812 | €77,890 | +€32,078 | +70.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,812 | €77,890 | +€32,078 | +70.0% |
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 30 October 2026 via checked.be.