D.I.: 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.I.
Largest movements
- Current investments -€1.4m
down €1.4m (-57.7%), from €2.5m to €1.0m
- Cash +€1.4m
up €1.4m (+1,105%), from €127,611 to €1.5m
mainly Current investments (+€1.4m) and Net result for the year (+€283,532)
- Stocks and contracts +€246,198
new in 2025: €246,198
- Reserves +€283,532
up €283,532 (+8.6%), from €3.3m to €3.6m
of which Distributable reserves: +€283,532
- Financial income +€272,469
up €272,469 (+321%), from €84,813 to €357,283
- Gross operating margin -€100,049
down €100,049, from €69,194 to -€30,855
- Financial charges -€40,903
down €40,903, from €23,955 to -€16,948
- Taxes -€3,547
down €3,547 (-8.7%), from €40,912 to €37,365
- Other operating charges +€1,459
up €1,459 (+106%), from €1,373 to €2,832
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 | €3,435,698 | €3,691,913 | +€256,216 | +7.5% |
| Fixed assets | 21/28 | €496,723 | €478,819 | -€17,904 | -3.6% |
| Tangible fixed assets | 22/27 | €198,882 | €180,978 | -€17,904 | -9.0% |
| Land and buildings | 22 | €157,164 | €151,914 | -€5,250 | -3.3% |
| Plant, machinery and equipment | 23 | €2,445 | €1,875 | -€570 | -23.3% |
| Furniture and vehicles | 24 | €39,273 | €27,189 | -€12,084 | -30.8% |
| Financial fixed assets | 28 | €297,842 | €297,842 | = | 0.0% |
| Current assets | 29/58 | €2,938,975 | €3,213,094 | +€274,119 | +9.3% |
| Stocks and contracts in progress | 3 | - | €246,198 | +€246,198 | |
| Stocks | 30/36 | - | €246,198 | +€246,198 | |
| Amounts receivable within one year | 40/41 | €355,095 | €390,229 | +€35,134 | +9.9% |
| Trade receivables | 40 | €13,061 | - | -€13,061 | |
| Other amounts receivable | 41 | €342,034 | €390,229 | +€48,195 | +14.1% |
| Current investments | 50/53 | €2,452,923 | €1,038,438 | -€1.4m | -57.7% |
| Cash at bank and in hand | 54/58 | €127,611 | €1,538,229 | +€1.4m | +1,105% |
| Deferred charges and accrued income | 490/1 | €3,346 | - | -€3,346 | |
| Total equity and liabilities | 10/49 | €3,435,698 | €3,691,913 | +€256,216 | +7.5% |
| Equity | 10/15 | €3,375,467 | €3,658,999 | +€283,532 | +8.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €3,313,467 | €3,596,999 | +€283,532 | +8.6% |
| Non-distributable reserves | 130/1 | €54,645 | €54,645 | = | 0.0% |
| Legal reserve | 130 | €54,645 | €54,645 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €3,221,323 | €3,504,855 | +€283,532 | +8.8% |
| Amounts payable | 17/49 | €60,231 | €32,914 | -€27,317 | -45.4% |
| Amounts payable within one year | 42/48 | €60,231 | €32,914 | -€27,317 | -45.4% |
| Trade debts | 44 | €23,065 | €4,561 | -€18,504 | -80.2% |
| Suppliers | 440/4 | €23,065 | €4,561 | -€18,504 | -80.2% |
| Taxes, remuneration and social security | 45 | €25,280 | €28,353 | +€3,073 | +12.2% |
| Taxes | 450/3 | €25,280 | €28,353 | +€3,073 | +12.2% |
| Other amounts payable | 47/48 | €11,886 | - | -€11,886 | |
| Non-recurring operating income | 76A | €104,414 | - | -€104,414 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,089 | €19,647 | +€558 | +2.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,373 | €2,832 | +€1,459 | +106% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €69,194 | -€30,855 | -€100,049 | |
| Operating profit (loss) | 9901 | €48,733 | -€53,333 | -€102,066 | |
| Financial income | 75/76B | €84,813 | €357,283 | +€272,469 | +321% |
| Recurring financial income | 75 | €84,813 | €357,283 | +€272,469 | +321% |
| Financial charges | 65/66B | €23,955 | -€16,948 | -€40,903 | |
| Recurring financial charges | 65 | €23,955 | -€16,948 | -€40,903 | |
| Profit (loss) for the period before taxes | 9903 | €109,591 | €320,897 | +€211,307 | +193% |
| Income taxes | 67/77 | €40,912 | €37,365 | -€3,547 | -8.7% |
| Profit (loss) for the period | 9904 | €68,679 | €283,532 | +€214,853 | +313% |
| Profit (loss) for the period to be appropriated | 9905 | €68,679 | €283,532 | +€214,853 | +313% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.