D.L.C.: 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.C.
Largest movements
- Receivables within one year +€42,764
up €42,764 (+35.6%), from €120,148 to €162,912
of which Trade receivables: +€50,759
- Cash -€41,527
down €41,527 (-39.9%), from €104,194 to €62,667
mainly Receivables within one year (-€42,764) and Investment in fixed assets (net) (-€26,624)
- Tangible fixed assets +€16,154
up €16,154 (+107.6%), from €15,018 to €31,171
of which Furniture and vehicles: +€17,479
- Profit (loss) carried forward -€24,521
down €24,521 (-18.0%), from €136,057 to €111,536
- Tax, wage and social debts +€18,098
up €18,098 (+426.0%), from €4,248 to €22,346
of which Taxes: +€22,346
- Debts after one year +€12,530
new in 2025: €12,530
- Accrued charges and deferred income +€5,346
up €5,346 (+8.6%), from €62,126 to €67,471
- Gross operating margin +€175,739
up €175,739 (+31.0%), from €566,429 to €742,168
- Staff costs +€151,426
up €151,426 (+26.9%), from €563,129 to €714,555
- Taxes +€16,165
up €16,165 (+701.3%), from €2,305 to €18,471
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 | €243,464 | €261,035 | +€17,571 | +7.2% |
| Fixed assets | 21/28 | €19,122 | €35,456 | +€16,334 | +85.4% |
| Tangible fixed assets | 22/27 | €15,018 | €31,171 | +€16,154 | +107.6% |
| Plant, machinery and equipment | 23 | €3,918 | €2,592 | -€1,326 | -33.8% |
| Furniture and vehicles | 24 | €11,100 | €28,579 | +€17,479 | +157.5% |
| Financial fixed assets | 28 | €4,105 | €4,285 | +€180 | +4.4% |
| Current assets | 29/58 | €224,342 | €225,579 | +€1,237 | +0.6% |
| Amounts receivable within one year | 40/41 | €120,148 | €162,912 | +€42,764 | +35.6% |
| Trade receivables | 40 | €112,154 | €162,912 | +€50,759 | +45.3% |
| Other amounts receivable | 41 | €7,995 | - | -€7,995 | |
| Cash at bank and in hand | 54/58 | €104,194 | €62,667 | -€41,527 | -39.9% |
| Total equity and liabilities | 10/49 | €243,464 | €261,035 | +€17,571 | +7.2% |
| Equity | 10/15 | €164,776 | €140,255 | -€24,521 | -14.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | €25,000 | = | 0.0% |
| Issued capital | 100 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €3,718 | €3,718 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,718 | €3,718 | = | 0.0% |
| Legal reserve | 130 | €3,718 | €3,718 | = | 0.0% |
| Profit (loss) carried forward | 14 | €136,057 | €111,536 | -€24,521 | -18.0% |
| Amounts payable | 17/49 | €78,688 | €120,780 | +€42,092 | +53.5% |
| Amounts payable after more than one year | 17 | - | €12,530 | +€12,530 | |
| Financial debts | 170/4 | - | €12,530 | +€12,530 | |
| Amounts payable within one year | 42/48 | €16,563 | €40,779 | +€24,217 | +146.2% |
| Current portion of amounts payable after more than one year | 42 | €3,097 | €4,781 | +€1,685 | +54.4% |
| Financial debts | 43 | €6,362 | €8,354 | +€1,992 | +31.3% |
| Credit institutions | 430/8 | €6,362 | €8,354 | +€1,992 | +31.3% |
| Trade debts | 44 | €2,856 | €3,634 | +€778 | +27.2% |
| Suppliers | 440/4 | €2,856 | €3,634 | +€778 | +27.2% |
| Taxes, remuneration and social security | 45 | €4,248 | €22,346 | +€18,098 | +426.0% |
| Taxes | 450/3 | €0 | €22,346 | +€22,346 | |
| Remuneration and social security | 454/9 | €4,248 | - | -€4,248 | |
| Other amounts payable | 47/48 | - | €1,664 | +€1,664 | |
| Accrued charges and deferred income | 492/3 | €62,126 | €67,471 | +€5,346 | +8.6% |
| Remuneration, social security and pensions | 62 | €563,129 | €714,555 | +€151,426 | +26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,371 | €10,291 | +€1,920 | +22.9% |
| Other operating charges | 640/8 | €12,390 | €13,455 | +€1,064 | +8.6% |
| Gross operating margin | 9900 | €566,429 | €742,168 | +€175,739 | +31.0% |
| Operating profit (loss) | 9901 | -€17,462 | €3,867 | +€21,329 | |
| Financial income | 75/76B | - | €769 | +€769 | |
| Recurring financial income | 75 | - | €769 | +€769 | |
| Financial charges | 65/66B | €11,870 | €10,687 | -€1,183 | -10.0% |
| Recurring financial charges | 65 | €11,870 | €10,687 | -€1,183 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | -€29,331 | -€6,051 | +€23,281 | +79.4% |
| Income taxes | 67/77 | €2,305 | €18,471 | +€16,165 | +701.3% |
| Profit (loss) for the period | 9904 | -€31,637 | -€24,521 | +€7,115 | +22.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,637 | -€24,521 | +€7,115 | +22.5% |
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 7 October 2026 via checked.be.