D+ INVEST: 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+ INVEST
Largest movements
- Receivables within one year +€63,168
up €63,168 (+125%), from €50,626 to €113,794
- Cash -€29,908
down €29,908 (-22.8%), from €131,075 to €101,167
mainly Contributions, distributions and other (-€210,000) and Receivables within one year (-€63,168)
- Tangible fixed assets -€13,944
down €13,944 (-26.1%), from €53,496 to €39,551
of which Furniture and vehicles: -€10,609
- Current investments -€4,900
down €4,900 (-29.9%), from €16,366 to €11,466
- Other debts +€98,188
up €98,188 (+152%), from €64,481 to €162,669
- Profit (loss) carried forward -€83,068
down €83,068 (-69.0%), from €120,409 to €37,341
- Tax, wage and social debts +€8,454
up €8,454 (+30.9%), from €27,323 to €35,777
- Debts after one year -€7,626
no longer reported in 2025 (was €7,626)
- Financial income -€7,081
down €7,081 (-99.6%), from €7,106 to €25
- Depreciation +€6,098
up €6,098 (+33.4%), from €18,272 to €24,370
- Gross operating margin +€6,083
up €6,083 (+3.2%), from €190,410 to €196,493
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 | €251,563 | €265,978 | +€14,415 | +5.7% |
| Fixed assets | 21/28 | €53,496 | €39,551 | -€13,944 | -26.1% |
| Tangible fixed assets | 22/27 | €53,496 | €39,551 | -€13,944 | -26.1% |
| Land and buildings | 22 | €5,376 | €3,241 | -€2,135 | -39.7% |
| Plant, machinery and equipment | 23 | €257 | €41 | -€216 | -84.1% |
| Furniture and vehicles | 24 | €45,921 | €35,313 | -€10,609 | -23.1% |
| Other tangible fixed assets | 26 | €1,941 | €956 | -€985 | -50.7% |
| Current assets | 29/58 | €198,068 | €226,427 | +€28,359 | +14.3% |
| Amounts receivable within one year | 40/41 | €50,626 | €113,794 | +€63,168 | +125% |
| Trade receivables | 40 | €50,626 | €113,794 | +€63,168 | +125% |
| Current investments | 50/53 | €16,366 | €11,466 | -€4,900 | -29.9% |
| Cash at bank and in hand | 54/58 | €131,075 | €101,167 | -€29,908 | -22.8% |
| Total equity and liabilities | 10/49 | €251,563 | €265,978 | +€14,415 | +5.7% |
| Equity | 10/15 | €140,869 | €57,801 | -€83,068 | -59.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,409 | €37,341 | -€83,068 | -69.0% |
| Amounts payable | 17/49 | €110,694 | €208,177 | +€97,483 | +88.1% |
| Amounts payable after more than one year | 17 | €7,626 | - | -€7,626 | |
| Financial debts | 170/4 | €7,626 | - | -€7,626 | |
| Amounts payable within one year | 42/48 | €103,068 | €208,177 | +€105,109 | +102% |
| Current portion of amounts payable after more than one year | 42 | €9,084 | €7,626 | -€1,458 | -16.1% |
| Trade debts | 44 | €2,181 | €2,105 | -€76 | -3.5% |
| Suppliers | 440/4 | €2,181 | €2,105 | -€76 | -3.5% |
| Taxes, remuneration and social security | 45 | €27,323 | €35,777 | +€8,454 | +30.9% |
| Taxes | 450/3 | €27,323 | €35,777 | +€8,454 | +30.9% |
| Other amounts payable | 47/48 | €64,481 | €162,669 | +€98,188 | +152% |
| Non-recurring operating income | 76A | €7,741 | €6,505 | -€1,236 | -16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,272 | €24,370 | +€6,098 | +33.4% |
| Other operating charges | 640/8 | €1,351 | €1,328 | -€23 | -1.7% |
| Gross operating margin | 9900 | €190,410 | €196,493 | +€6,083 | +3.2% |
| Operating profit (loss) | 9901 | €170,787 | €170,795 | +€8 | 0.0% |
| Financial income | 75/76B | €7,106 | €25 | -€7,081 | -99.6% |
| Recurring financial income | 75 | €7,106 | €25 | -€7,081 | -99.6% |
| Financial charges | 65/66B | €974 | €2,334 | +€1,360 | +140% |
| Recurring financial charges | 65 | €974 | €2,334 | +€1,360 | +140% |
| Profit (loss) for the period before taxes | 9903 | €176,919 | €168,486 | -€8,433 | -4.8% |
| Income taxes | 67/77 | €41,872 | €41,554 | -€317 | -0.8% |
| Profit (loss) for the period | 9904 | €135,047 | €126,932 | -€8,115 | -6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €135,047 | €126,932 | -€8,115 | -6.0% |
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.