D&J: 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&J
Largest movements
- Receivables within one year +€17,386
up €17,386 (+1757.7%), from €989 to €18,375
of which Other amounts receivable: +€13,452
- Cash -€13,580
down €13,580 (-10.7%), from €127,252 to €113,672
mainly Contributions, distributions and other (-€34,832) and Receivables within one year (-€17,386)
- Tangible fixed assets -€6,201
down €6,201 (-21.6%), from €28,764 to €22,563
of which Other tangible fixed assets: -€4,170
- Stocks and contracts +€4,122
up €4,122 (+28.6%), from €14,404 to €18,526
- Deferred charges and accrued income +€2,355
up €2,355 (+25.2%), from €9,354 to €11,710
- Other debts +€32,668
up €32,668 (+1510.0%), from €2,164 to €34,832
- Reserves -€11,817
down €11,817 (-11.1%), from €106,080 to €94,263
- Tax, wage and social debts -€8,342
down €8,342 (-18.7%), from €44,621 to €36,279
of which Taxes: -€10,419
- Debts after one year -€4,506
down €4,506 (-78.5%), from €5,741 to €1,235
- Trade debts -€3,147
down €3,147 (-30.2%), from €10,402 to €7,255
- Staff costs +€4,128
up €4,128 (+9.1%), from €45,205 to €49,334
- Gross operating margin -€3,390
down €3,390 (-3.1%), from €108,102 to €104,712
- Taxes -€1,996
down €1,996 (-12.6%), from €15,888 to €13,891
- Depreciation +€1,203
up €1,203 (+16.1%), from €7,456 to €8,659
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 | €180,788 | €184,870 | +€4,082 | +2.3% |
| Fixed assets | 21/28 | €28,789 | €22,588 | -€6,201 | -21.5% |
| Tangible fixed assets | 22/27 | €28,764 | €22,563 | -€6,201 | -21.6% |
| Furniture and vehicles | 24 | €10,451 | €8,420 | -€2,031 | -19.4% |
| Other tangible fixed assets | 26 | €18,313 | €14,143 | -€4,170 | -22.8% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €151,999 | €162,283 | +€10,284 | +6.8% |
| Stocks and contracts in progress | 3 | €14,404 | €18,526 | +€4,122 | +28.6% |
| Stocks | 30/36 | €14,404 | €18,526 | +€4,122 | +28.6% |
| Amounts receivable within one year | 40/41 | €989 | €18,375 | +€17,386 | +1757.7% |
| Trade receivables | 40 | €989 | €4,924 | +€3,935 | +397.8% |
| Other amounts receivable | 41 | - | €13,452 | +€13,452 | |
| Cash at bank and in hand | 54/58 | €127,252 | €113,672 | -€13,580 | -10.7% |
| Deferred charges and accrued income | 490/1 | €9,354 | €11,710 | +€2,355 | +25.2% |
| Total equity and liabilities | 10/49 | €180,788 | €184,870 | +€4,082 | +2.3% |
| Equity | 10/15 | €112,580 | €100,763 | -€11,817 | -10.5% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €106,080 | €94,263 | -€11,817 | -11.1% |
| Distributable reserves | 133 | €106,080 | €94,263 | -€11,817 | -11.1% |
| Amounts payable | 17/49 | €68,208 | €84,107 | +€15,899 | +23.3% |
| Amounts payable after more than one year | 17 | €5,741 | €1,235 | -€4,506 | -78.5% |
| Financial debts | 170/4 | €5,741 | €1,235 | -€4,506 | -78.5% |
| Amounts payable within one year | 42/48 | €62,467 | €82,872 | +€20,405 | +32.7% |
| Current portion of amounts payable after more than one year | 42 | €5,281 | €4,506 | -€775 | -14.7% |
| Trade debts | 44 | €10,402 | €7,255 | -€3,147 | -30.2% |
| Suppliers | 440/4 | €10,402 | €7,255 | -€3,147 | -30.2% |
| Taxes, remuneration and social security | 45 | €44,621 | €36,279 | -€8,342 | -18.7% |
| Taxes | 450/3 | €40,240 | €29,821 | -€10,419 | -25.9% |
| Remuneration and social security | 454/9 | €4,381 | €6,458 | +€2,077 | +47.4% |
| Other amounts payable | 47/48 | €2,164 | €34,832 | +€32,668 | +1510.0% |
| Remuneration, social security and pensions | 62 | €45,205 | €49,334 | +€4,128 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,456 | €8,659 | +€1,203 | +16.1% |
| Other operating charges | 640/8 | €5,614 | €5,679 | +€65 | +1.2% |
| Gross operating margin | 9900 | €108,102 | €104,712 | -€3,390 | -3.1% |
| Operating profit (loss) | 9901 | €49,826 | €41,040 | -€8,786 | -17.6% |
| Financial income | 75/76B | €99 | €58 | -€41 | -41.1% |
| Recurring financial income | 75 | €99 | €58 | -€41 | -41.1% |
| Financial charges | 65/66B | €5,223 | €4,193 | -€1,030 | -19.7% |
| Recurring financial charges | 65 | €5,223 | €4,193 | -€1,030 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | €44,703 | €36,906 | -€7,797 | -17.4% |
| Income taxes | 67/77 | €15,888 | €13,891 | -€1,996 | -12.6% |
| Profit (loss) for the period | 9904 | €28,816 | €23,015 | -€5,801 | -20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,816 | €23,015 | -€5,801 | -20.1% |
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.