D.H.T.: 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.H.T.
Largest movements
- Cash -€8,015
down €8,015 (-2.3%), from €350,943 to €342,927
mainly Investment in fixed assets (net) (-€95,001) and Current portion of long-term debt (-€30,556)
- Receivables within one year -€6,163
down €6,163 (-12.1%), from €50,809 to €44,646
of which Trade receivables: -€3,944
- Tangible fixed assets -€6,074
down €6,074 (-4.3%), from €140,916 to €134,842
of which Plant, machinery and equipment: -€3,652
- Current portion of long-term debt -€30,556
down €30,556 (-91.7%), from €33,333 to €2,778
- Trade debts -€17,290
down €17,290 (-39.9%), from €43,282 to €25,992
- Other debts +€14,446
up €14,446 (+7.4%), from €194,762 to €209,207
- Tax, wage and social debts +€11,080
up €11,080 (+19.0%), from €58,264 to €69,344
of which Taxes: +€11,080
- Reserves +€9,224
up €9,224 (+4.8%), from €193,911 to €203,135
- Gross operating margin -€343,154
down €343,154 (-66.6%), from €514,871 to €171,716
- Taxes -€77,181
down €77,181 (-91.5%), from €84,311 to €7,130
- Depreciation -€38,710
down €38,710 (-27.7%), from €139,784 to €101,074
- Write-downs -€27,562
no longer reported in 2025 (was €27,562)
- Other operating charges -€27,498
down €27,498 (-41.6%), from €66,178 to €38,680
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 | €552,406 | €535,591 | -€16,815 | -3.0% |
| Fixed assets | 21/28 | €140,916 | €134,843 | -€6,073 | -4.3% |
| Tangible fixed assets | 22/27 | €140,916 | €134,842 | -€6,074 | -4.3% |
| Plant, machinery and equipment | 23 | €5,483 | €1,831 | -€3,652 | -66.6% |
| Furniture and vehicles | 24 | €135,433 | €133,011 | -€2,421 | -1.8% |
| Financial fixed assets | 28 | - | €1 | +€1 | |
| Current assets | 29/58 | €411,490 | €400,748 | -€10,742 | -2.6% |
| Amounts receivable within one year | 40/41 | €50,809 | €44,646 | -€6,163 | -12.1% |
| Trade receivables | 40 | €43,688 | €39,743 | -€3,944 | -9.0% |
| Other amounts receivable | 41 | €7,122 | €4,903 | -€2,219 | -31.2% |
| Cash at bank and in hand | 54/58 | €350,943 | €342,927 | -€8,015 | -2.3% |
| Deferred charges and accrued income | 490/1 | €9,738 | €13,174 | +€3,436 | +35.3% |
| Total equity and liabilities | 10/49 | €552,406 | €535,591 | -€16,815 | -3.0% |
| Equity | 10/15 | €218,911 | €228,135 | +€9,224 | +4.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €193,911 | €203,135 | +€9,224 | +4.8% |
| Distributable reserves | 133 | €193,911 | €203,135 | +€9,224 | +4.8% |
| Amounts payable | 17/49 | €333,495 | €307,456 | -€26,039 | -7.8% |
| Amounts payable after more than one year | 17 | €2,778 | - | -€2,778 | |
| Financial debts | 170/4 | €2,778 | - | -€2,778 | |
| Amounts payable within one year | 42/48 | €329,640 | €307,320 | -€22,320 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €33,333 | €2,778 | -€30,556 | -91.7% |
| Trade debts | 44 | €43,282 | €25,992 | -€17,290 | -39.9% |
| Suppliers | 440/4 | €43,282 | €25,992 | -€17,290 | -39.9% |
| Taxes, remuneration and social security | 45 | €58,264 | €69,344 | +€11,080 | +19.0% |
| Taxes | 450/3 | €55,664 | €66,744 | +€11,080 | +19.9% |
| Remuneration and social security | 454/9 | €2,600 | €2,600 | = | 0.0% |
| Other amounts payable | 47/48 | €194,762 | €209,207 | +€14,446 | +7.4% |
| Accrued charges and deferred income | 492/3 | €1,077 | €136 | -€941 | -87.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,784 | €101,074 | -€38,710 | -27.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €27,562 | - | -€27,562 | |
| Other operating charges | 640/8 | €66,178 | €38,680 | -€27,498 | -41.6% |
| Gross operating margin | 9900 | €514,871 | €171,716 | -€343,154 | -66.6% |
| Operating profit (loss) | 9901 | €281,347 | €31,963 | -€249,384 | -88.6% |
| Financial income | 75/76B | €751 | €1,933 | +€1,182 | +157.3% |
| Recurring financial income | 75 | €751 | €1,933 | +€1,182 | +157.3% |
| Financial charges | 65/66B | €3,876 | €17,542 | +€13,665 | +352.5% |
| Recurring financial charges | 65 | €3,876 | €17,542 | +€13,665 | +352.5% |
| Profit (loss) for the period before taxes | 9903 | €278,222 | €16,354 | -€261,868 | -94.1% |
| Income taxes | 67/77 | €84,311 | €7,130 | -€77,181 | -91.5% |
| Profit (loss) for the period | 9904 | €193,911 | €9,224 | -€184,686 | -95.2% |
| Profit (loss) for the period to be appropriated | 9905 | €193,911 | €9,224 | -€184,686 | -95.2% |
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 3 October 2026 via checked.be.