D.L.MANAGEMENT CONSULT: 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.L.MANAGEMENT CONSULT
Largest movements
- Receivables within one year -€101,067
down €101,067 (-61.2%), from €165,224 to €64,157
of which Trade receivables: -€102,902
- Deferred charges and accrued income +€18,254
up €18,254 (+293%), from €6,224 to €24,478
- Cash -€17,672
down €17,672 (-6.1%), from €290,228 to €272,556
mainly Contributions, distributions and other (-€207,821) and Tax, wage and social debts (-€23,089)
- Profit (loss) carried forward -€54,098
down €54,098 (-100%), from €54,098 to €0
- Tax, wage and social debts -€23,089
down €23,089 (-54.8%), from €42,164 to €19,075
of which Taxes: -€23,097
- Debts after one year -€15,704
down €15,704 (-3.1%), from €509,146 to €493,442
of which Financial debts: -€15,844
- Gross operating margin -€95,074
down €95,074 (-28.0%), from €339,362 to €244,288
- Taxes -€23,861
down €23,861 (-34.5%), from €69,219 to €45,358
- Financial charges -€7,488
down €7,488 (-57.2%), from €13,094 to €5,606
- Other operating charges -€4,339
down €4,339 (-45.8%), from €9,482 to €5,142
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 | €977,989 | €871,128 | -€106,860 | -10.9% |
| Fixed assets | 21/28 | €316,312 | €309,937 | -€6,375 | -2.0% |
| Tangible fixed assets | 22/27 | €316,312 | €309,937 | -€6,375 | -2.0% |
| Land and buildings | 22 | €291,501 | €282,915 | -€8,587 | -2.9% |
| Furniture and vehicles | 24 | €5,973 | €5,684 | -€289 | -4.8% |
| Other tangible fixed assets | 26 | €18,838 | €21,339 | +€2,501 | +13.3% |
| Current assets | 29/58 | €661,677 | €561,191 | -€100,486 | -15.2% |
| Amounts receivable within one year | 40/41 | €165,224 | €64,157 | -€101,067 | -61.2% |
| Trade receivables | 40 | €164,390 | €61,489 | -€102,902 | -62.6% |
| Other amounts receivable | 41 | €834 | €2,669 | +€1,835 | +220% |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €290,228 | €272,556 | -€17,672 | -6.1% |
| Deferred charges and accrued income | 490/1 | €6,224 | €24,478 | +€18,254 | +293% |
| Total equity and liabilities | 10/49 | €977,989 | €871,128 | -€106,860 | -10.9% |
| Equity | 10/15 | €59,098 | €5,000 | -€54,098 | -91.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,098 | €0 | -€54,098 | -100% |
| Amounts payable | 17/49 | €918,890 | €866,128 | -€52,762 | -5.7% |
| Amounts payable after more than one year | 17 | €509,146 | €493,442 | -€15,704 | -3.1% |
| Financial debts | 170/4 | €181,937 | €166,093 | -€15,844 | -8.7% |
| Other amounts payable | 178/9 | €327,209 | €327,349 | +€140 | 0.0% |
| Amounts payable within one year | 42/48 | €402,894 | €372,686 | -€30,208 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €15,685 | €15,844 | +€159 | +1.0% |
| Trade debts | 44 | €3,368 | €166 | -€3,202 | -95.1% |
| Suppliers | 440/4 | €3,368 | €166 | -€3,202 | -95.1% |
| Taxes, remuneration and social security | 45 | €42,164 | €19,075 | -€23,089 | -54.8% |
| Taxes | 450/3 | €38,786 | €15,689 | -€23,097 | -59.6% |
| Remuneration and social security | 454/9 | €3,378 | €3,387 | +€9 | +0.3% |
| Other amounts payable | 47/48 | €341,677 | €337,601 | -€4,076 | -1.2% |
| Accrued charges and deferred income | 492/3 | €6,850 | €0 | -€6,850 | -100% |
| Remuneration, social security and pensions | 62 | €12,627 | €14,208 | +€1,581 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,528 | €17,344 | +€2,815 | +19.4% |
| Other operating charges | 640/8 | €9,482 | €5,142 | -€4,339 | -45.8% |
| Non-recurring operating charges | 66A | - | €6,503 | +€6,503 | |
| Gross operating margin | 9900 | €339,362 | €244,288 | -€95,074 | -28.0% |
| Operating profit (loss) | 9901 | €302,725 | €201,091 | -€101,634 | -33.6% |
| Financial income | 75/76B | €3,510 | €3,596 | +€87 | +2.5% |
| Recurring financial income | 75 | €3,510 | €3,596 | +€87 | +2.5% |
| Financial charges | 65/66B | €13,094 | €5,606 | -€7,488 | -57.2% |
| Recurring financial charges | 65 | €13,094 | €5,606 | -€7,488 | -57.2% |
| Profit (loss) for the period before taxes | 9903 | €293,141 | €199,081 | -€94,060 | -32.1% |
| Income taxes | 67/77 | €69,219 | €45,358 | -€23,861 | -34.5% |
| Profit (loss) for the period | 9904 | €223,922 | €153,723 | -€70,199 | -31.3% |
| Profit (loss) for the period to be appropriated | 9905 | €223,922 | €153,723 | -€70,199 | -31.3% |
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 31 October 2026 via checked.be.