D.L.E.: 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.E.
Largest movements
- Receivables within one year +€142,855
up €142,855 (+373.2%), from €38,276 to €181,131
of which Other amounts receivable: +€165,531
- Tangible fixed assets -€73,130
down €73,130 (-5.7%), from €1.3m to €1.2m
of which Land and buildings: -€72,731
- Financial fixed assets -€32,713
down €32,713 (-8.6%), from €380,900 to €348,188
- Reserves +€170,490
up €170,490 (+25.5%), from €668,502 to €838,992
of which Distributable reserves: +€175,365
- Debts after one year -€54,148
down €54,148 (-33.5%), from €161,769 to €107,621
- Other debts -€53,029
no longer reported in 2025 (was €53,029)
- Current portion of long-term debt -€35,693
down €35,693 (-39.7%), from €89,840 to €54,148
- Financial income +€333,870
new in 2025: €333,870
of which Non-recurring financial income: +€333,869
- Gross operating margin -€62,889
down €62,889, from €28,839 to -€34,050
- Other operating charges +€15,676
up €15,676 (+156.5%), from €10,016 to €25,691
- Depreciation -€9,807
down €9,807 (-23.5%), from €41,807 to €32,000
- Financial charges -€6,744
down €6,744 (-21.4%), from €31,539 to €24,796
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 | €1,730,551 | €1,757,963 | +€27,412 | +1.6% |
| Fixed assets | 21/28 | €1,661,122 | €1,555,279 | -€105,843 | -6.4% |
| Tangible fixed assets | 22/27 | €1,280,221 | €1,207,091 | -€73,130 | -5.7% |
| Land and buildings | 22 | €1,279,822 | €1,207,091 | -€72,731 | -5.7% |
| Plant, machinery and equipment | 23 | €399 | - | -€399 | |
| Financial fixed assets | 28 | €380,900 | €348,188 | -€32,713 | -8.6% |
| Current assets | 29/58 | €69,429 | €202,684 | +€133,255 | +191.9% |
| Amounts receivable after more than one year | 29 | €10,000 | - | -€10,000 | |
| Other amounts receivable | 291 | €10,000 | - | -€10,000 | |
| Amounts receivable within one year | 40/41 | €38,276 | €181,131 | +€142,855 | +373.2% |
| Trade receivables | 40 | €28,276 | €5,600 | -€22,676 | -80.2% |
| Other amounts receivable | 41 | €10,000 | €175,531 | +€165,531 | +1655.3% |
| Cash at bank and in hand | 54/58 | €1,154 | €1,553 | +€400 | +34.6% |
| Deferred charges and accrued income | 490/1 | €20,000 | €20,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,730,551 | €1,757,963 | +€27,412 | +1.6% |
| Equity | 10/15 | €1,043,352 | €1,213,842 | +€170,490 | +16.3% |
| Contributions | 10/11 | €374,850 | €374,850 | = | 0.0% |
| Reserves | 13 | €668,502 | €838,992 | +€170,490 | +25.5% |
| Non-distributable reserves | 130/1 | €37,485 | €37,485 | = | 0.0% |
| Reserves not available under the articles | 1311 | €37,485 | €37,485 | = | 0.0% |
| Tax-exempt reserves | 132 | €95,252 | €90,377 | -€4,875 | -5.1% |
| Distributable reserves | 133 | €535,765 | €711,130 | +€175,365 | +32.7% |
| Provisions and deferred taxes | 16 | €20,083 | €17,573 | -€2,510 | -12.5% |
| Deferred taxes | 168 | €20,083 | €17,573 | -€2,510 | -12.5% |
| Amounts payable | 17/49 | €667,116 | €526,548 | -€140,567 | -21.1% |
| Amounts payable after more than one year | 17 | €161,769 | €107,621 | -€54,148 | -33.5% |
| Financial debts | 170/4 | €161,769 | €107,621 | -€54,148 | -33.5% |
| Amounts payable within one year | 42/48 | €505,346 | €418,927 | -€86,419 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €89,840 | €54,148 | -€35,693 | -39.7% |
| Financial debts | 43 | €350,000 | €349,611 | -€389 | -0.1% |
| Credit institutions | 430/8 | €350,000 | €349,611 | -€389 | -0.1% |
| Trade debts | 44 | €5,923 | €6,555 | +€632 | +10.7% |
| Suppliers | 440/4 | €5,923 | €6,555 | +€632 | +10.7% |
| Taxes, remuneration and social security | 45 | €6,554 | €8,613 | +€2,059 | +31.4% |
| Taxes | 450/3 | €6,554 | €8,613 | +€2,059 | +31.4% |
| Other amounts payable | 47/48 | €53,029 | - | -€53,029 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,807 | €32,000 | -€9,807 | -23.5% |
| Other operating charges | 640/8 | €10,016 | €25,691 | +€15,676 | +156.5% |
| Non-recurring operating charges | 66A | - | €42,713 | +€42,713 | |
| Gross operating margin | 9900 | €28,839 | -€34,050 | -€62,889 | |
| Operating profit (loss) | 9901 | -€22,984 | -€134,454 | -€111,470 | -485.0% |
| Financial income | 75/76B | - | €333,870 | +€333,870 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Non-recurring financial income | 76B | - | €333,869 | +€333,869 | |
| Financial charges | 65/66B | €31,539 | €24,796 | -€6,744 | -21.4% |
| Recurring financial charges | 65 | €31,539 | €24,796 | -€6,744 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | -€54,523 | €174,620 | +€229,143 | |
| Transfer from deferred taxes | 780 | €2,510 | €2,510 | = | 0.0% |
| Income taxes | 67/77 | €252 | €6,641 | +€6,389 | +2539.6% |
| Profit (loss) for the period | 9904 | -€52,264 | €170,490 | +€222,754 | |
| Transfer from tax-exempt reserves | 789 | €4,875 | €4,875 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,389 | €175,365 | +€222,754 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.