D'HESPEEL: what changed
D'HESPEEL
Largest movements
- Tangible fixed assets -€18,173
down €18,173 (-24.9%), from €73,129 to €54,956
of which Leasing and similar rights: -€24,239
- Cash -€8,624
down €8,624 (-84.1%), from €10,259 to €1,635
mainly Contributions, distributions and other (-€21,232) and Debts after one year (-€9,177)
- Receivables within one year +€7,406
up €7,406 (+20.6%), from €35,996 to €43,402
of which Trade receivables: +€13,608
- Deferred charges and accrued income +€2,743
up €2,743 (+221%), from €1,243 to €3,986
- Reserves -€20,985
down €20,985 (-33.8%), from €61,995 to €41,011
- Other debts +€18,180
up €18,180 (+596%), from €3,051 to €21,232
- Debts after one year -€9,177
down €9,177 (-37.4%), from €24,525 to €15,348
- Current portion of long-term debt -€8,556
down €8,556 (-48.2%), from €17,733 to €9,177
- Profit (loss) carried forward +€6,851
up €6,851, from -€6,851 to €0
- Gross operating margin +€14,225
up €14,225 (+66.0%), from €21,565 to €35,790
- Taxes +€2,652
up €2,652 (+1,911%), from €139 to €2,791
- Other operating charges -€1,072
down €1,072 (-29.4%), from €3,649 to €2,577
- Depreciation -€668
down €668 (-3.2%), from €20,973 to €20,305
- Financial charges -€650
down €650 (-17.7%), from €3,680 to €3,030
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €120,627 | €103,979 | -€16,648 | -13.8% |
| Fixed assets | 21/28 | €73,129 | €54,956 | -€18,173 | -24.9% |
| Tangible fixed assets | 22/27 | €73,129 | €54,956 | -€18,173 | -24.9% |
| Land and buildings | 22 | €10,338 | €9,722 | -€617 | -6.0% |
| Plant, machinery and equipment | 23 | €1,064 | €605 | -€459 | -43.2% |
| Furniture and vehicles | 24 | €15,302 | €22,445 | +€7,143 | +46.7% |
| Leasing and similar rights | 25 | €46,424 | €22,185 | -€24,239 | -52.2% |
| Current assets | 29/58 | €47,499 | €49,023 | +€1,524 | +3.2% |
| Amounts receivable within one year | 40/41 | €35,996 | €43,402 | +€7,406 | +20.6% |
| Trade receivables | 40 | €26,811 | €40,419 | +€13,608 | +50.8% |
| Other amounts receivable | 41 | €9,185 | €2,983 | -€6,202 | -67.5% |
| Cash at bank and in hand | 54/58 | €10,259 | €1,635 | -€8,624 | -84.1% |
| Deferred charges and accrued income | 490/1 | €1,243 | €3,986 | +€2,743 | +221% |
| Total equity and liabilities | 10/49 | €120,627 | €103,979 | -€16,648 | -13.8% |
| Equity | 10/15 | €61,344 | €47,211 | -€14,133 | -23.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €61,995 | €41,011 | -€20,985 | -33.8% |
| Distributable reserves | 133 | €61,995 | €41,011 | -€20,985 | -33.8% |
| Profit (loss) carried forward | 14 | -€6,851 | €0 | +€6,851 | |
| Amounts payable | 17/49 | €59,283 | €56,768 | -€2,515 | -4.2% |
| Amounts payable after more than one year | 17 | €24,525 | €15,348 | -€9,177 | -37.4% |
| Financial debts | 170/4 | €24,525 | €15,348 | -€9,177 | -37.4% |
| Amounts payable within one year | 42/48 | €34,758 | €41,421 | +€6,662 | +19.2% |
| Current portion of amounts payable after more than one year | 42 | €17,733 | €9,177 | -€8,556 | -48.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €5,985 | €5,249 | -€735 | -12.3% |
| Suppliers | 440/4 | €5,985 | €5,249 | -€735 | -12.3% |
| Taxes, remuneration and social security | 45 | €7,989 | €5,762 | -€2,227 | -27.9% |
| Taxes | 450/3 | €7,989 | €5,762 | -€2,227 | -27.9% |
| Other amounts payable | 47/48 | €3,051 | €21,232 | +€18,180 | +596% |
| Non-recurring operating income | 76A | - | €2,658 | +€2,658 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,973 | €20,305 | -€668 | -3.2% |
| Other operating charges | 640/8 | €3,649 | €2,577 | -€1,072 | -29.4% |
| Gross operating margin | 9900 | €21,565 | €35,790 | +€14,225 | +66.0% |
| Operating profit (loss) | 9901 | -€3,057 | €12,909 | +€15,966 | |
| Financial income | 75/76B | €25 | €11 | -€14 | -56.7% |
| Recurring financial income | 75 | €25 | €11 | -€14 | -56.7% |
| Financial charges | 65/66B | €3,680 | €3,030 | -€650 | -17.7% |
| Recurring financial charges | 65 | €3,680 | €3,030 | -€650 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | -€6,713 | €9,889 | +€16,602 | |
| Income taxes | 67/77 | €139 | €2,791 | +€2,652 | +1,911% |
| Profit (loss) for the period | 9904 | -€6,851 | €7,098 | +€13,950 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,851 | €7,098 | +€13,950 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.