D'HAEYER SIMON: 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'HAEYER SIMON
Largest movements
- Tangible fixed assets +€225,966
up €225,966 (+66.4%), from €340,230 to €566,196
of which Land and buildings: +€224,668
- Cash +€53,498
up €53,498 (+454%), from €11,775 to €65,273
mainly Debts after one year (+€140,875) and Net result for the year (+€60,905)
- Deferred charges and accrued income +€17,348
up €17,348 (+387%), from €4,482 to €21,830
- Debts after one year +€140,875
up €140,875 (+57.2%), from €246,333 to €387,208
- Reserves +€60,905
up €60,905 (+94.6%), from €64,396 to €125,301
- Other debts +€37,813
up €37,813 (+2,663%), from €1,420 to €39,233
- Trade debts +€33,199
up €33,199 (+865%), from €3,838 to €37,037
- Current portion of long-term debt +€17,333
up €17,333 (+96.3%), from €18,000 to €35,333
- Depreciation -€29,022
down €29,022 (-92.5%), from €31,367 to €2,345
- Gross operating margin +€22,982
up €22,982 (+34.6%), from €66,344 to €89,325
- Taxes +€6,264
up €6,264 (+78.1%), from €8,024 to €14,288
- Financial charges +€5,394
up €5,394 (+96.7%), from €5,578 to €10,972
- Other operating charges -€2,754
down €2,754 (-76.1%), from €3,620 to €866
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 | €358,912 | €657,744 | +€298,833 | +83.3% |
| Fixed assets | 21/28 | €340,230 | €568,918 | +€228,688 | +67.2% |
| Intangible fixed assets | 21 | - | €2,723 | +€2,723 | |
| Tangible fixed assets | 22/27 | €340,230 | €566,196 | +€225,966 | +66.4% |
| Land and buildings | 22 | €335,000 | €559,668 | +€224,668 | +67.1% |
| Plant, machinery and equipment | 23 | €5,230 | €6,528 | +€1,297 | +24.8% |
| Current assets | 29/58 | €18,681 | €88,826 | +€70,145 | +375% |
| Amounts receivable within one year | 40/41 | €2,425 | €1,723 | -€702 | -28.9% |
| Trade receivables | 40 | €2,425 | €1,723 | -€702 | -28.9% |
| Cash at bank and in hand | 54/58 | €11,775 | €65,273 | +€53,498 | +454% |
| Deferred charges and accrued income | 490/1 | €4,482 | €21,830 | +€17,348 | +387% |
| Total equity and liabilities | 10/49 | €358,912 | €657,744 | +€298,833 | +83.3% |
| Equity | 10/15 | €82,996 | €143,901 | +€60,905 | +73.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €64,396 | €125,301 | +€60,905 | +94.6% |
| Distributable reserves | 133 | €64,396 | €125,301 | +€60,905 | +94.6% |
| Amounts payable | 17/49 | €275,915 | €513,843 | +€237,928 | +86.2% |
| Amounts payable after more than one year | 17 | €246,333 | €387,208 | +€140,875 | +57.2% |
| Financial debts | 170/4 | €246,333 | €387,208 | +€140,875 | +57.2% |
| Amounts payable within one year | 42/48 | €29,582 | €125,515 | +€95,933 | +324% |
| Current portion of amounts payable after more than one year | 42 | €18,000 | €35,333 | +€17,333 | +96.3% |
| Trade debts | 44 | €3,838 | €37,037 | +€33,199 | +865% |
| Suppliers | 440/4 | €3,838 | €37,037 | +€33,199 | +865% |
| Taxes, remuneration and social security | 45 | €6,324 | €13,912 | +€7,588 | +120% |
| Taxes | 450/3 | €6,324 | €13,912 | +€7,588 | +120% |
| Other amounts payable | 47/48 | €1,420 | €39,233 | +€37,813 | +2,663% |
| Accrued charges and deferred income | 492/3 | - | €1,120 | +€1,120 | |
| Non-recurring operating income | 76A | - | €31,343 | +€31,343 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,367 | €2,345 | -€29,022 | -92.5% |
| Other operating charges | 640/8 | €3,620 | €866 | -€2,754 | -76.1% |
| Gross operating margin | 9900 | €66,344 | €89,325 | +€22,982 | +34.6% |
| Operating profit (loss) | 9901 | €31,357 | €86,114 | +€54,757 | +175% |
| Financial income | 75/76B | €180 | €51 | -€129 | -71.7% |
| Recurring financial income | 75 | €180 | €51 | -€129 | -71.7% |
| Financial charges | 65/66B | €5,578 | €10,972 | +€5,394 | +96.7% |
| Recurring financial charges | 65 | €5,578 | €10,972 | +€5,394 | +96.7% |
| Profit (loss) for the period before taxes | 9903 | €25,958 | €75,193 | +€49,235 | +190% |
| Income taxes | 67/77 | €8,024 | €14,288 | +€6,264 | +78.1% |
| Profit (loss) for the period | 9904 | €17,934 | €60,905 | +€42,970 | +240% |
| Profit (loss) for the period to be appropriated | 9905 | €17,934 | €60,905 | +€42,970 | +240% |
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 26 October 2026 via checked.be.