D & L: 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 & L
Largest movements
- Stocks and contracts +€129,426
up €129,426 (+49.4%), from €261,840 to €391,267
- Cash -€18,682
down €18,682 (-86.3%), from €21,651 to €2,969
mainly Stocks and contracts (-€129,426) and Trade debts (-€10,161)
- Other debts +€125,000
up €125,000 (+40.0%), from €312,369 to €437,369
- Trade debts -€10,161
down €10,161 (-81.6%), from €12,459 to €2,298
- Financial charges -€3,764
down €3,764 (-98.8%), from €3,811 to €47
- Other operating charges -€806
no longer reported in 2025 (was €806)
- Gross operating margin +€534
up €534 (+17.9%), from -€2,983 to -€2,449
- Purchases and services -€534
down €534 (-17.9%), from €2,983 to €2,449
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 | €285,092 | €396,304 | +€111,212 | +39.0% |
| Current assets | 29/58 | €285,092 | €396,304 | +€111,212 | +39.0% |
| Stocks and contracts in progress | 3 | €261,840 | €391,267 | +€129,426 | +49.4% |
| Contracts in progress | 37 | €261,840 | €391,267 | +€129,426 | +49.4% |
| Amounts receivable within one year | 40/41 | €1,601 | €2,069 | +€468 | +29.2% |
| Other amounts receivable | 41 | €1,601 | €2,069 | +€468 | +29.2% |
| Cash at bank and in hand | 54/58 | €21,651 | €2,969 | -€18,682 | -86.3% |
| Total equity and liabilities | 10/49 | €285,092 | €396,304 | +€111,212 | +39.0% |
| Equity | 10/15 | -€40,867 | -€43,363 | -€2,497 | -6.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €11,658 | €11,658 | = | 0.0% |
| Non-distributable reserves | 130/1 | €583 | €583 | = | 0.0% |
| Reserves not available under the articles | 1311 | €583 | €583 | = | 0.0% |
| Distributable reserves | 133 | €11,075 | €11,075 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€82,525 | -€85,021 | -€2,497 | -3.0% |
| Amounts payable | 17/49 | €325,959 | €439,667 | +€113,708 | +34.9% |
| Amounts payable within one year | 42/48 | €325,959 | €439,667 | +€113,708 | +34.9% |
| Trade debts | 44 | €12,459 | €2,298 | -€10,161 | -81.6% |
| Suppliers | 440/4 | €12,459 | €2,298 | -€10,161 | -81.6% |
| Taxes, remuneration and social security | 45 | €1,130 | - | -€1,130 | |
| Taxes | 450/3 | €1,130 | - | -€1,130 | |
| Other amounts payable | 47/48 | €312,369 | €437,369 | +€125,000 | +40.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,983 | €2,449 | -€534 | -17.9% |
| Other operating charges | 640/8 | €806 | - | -€806 | |
| Gross operating margin | 9900 | -€2,983 | -€2,449 | +€534 | +17.9% |
| Operating profit (loss) | 9901 | -€3,789 | -€2,449 | +€1,340 | +35.4% |
| Financial charges | 65/66B | €3,811 | €47 | -€3,764 | -98.8% |
| Recurring financial charges | 65 | €3,811 | €47 | -€3,764 | -98.8% |
| Profit (loss) for the period before taxes | 9903 | -€7,600 | -€2,497 | +€5,104 | +67.2% |
| Profit (loss) for the period | 9904 | -€7,600 | -€2,497 | +€5,104 | +67.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,600 | -€2,497 | +€5,104 | +67.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.