D & M: 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 & M
Largest movements
- Receivables within one year -€34,717
down €34,717 (-40.4%), from €86,034 to €51,316
of which Other amounts receivable: -€31,495
- Tangible fixed assets -€26,272
down €26,272 (-16.1%), from €163,401 to €137,129
of which Furniture and vehicles: -€24,069
- Cash +€14,845
up €14,845 (+22.4%), from €66,211 to €81,056
mainly Depreciation (+€35,330) and Receivables within one year (+€34,717)
- Debts after one year -€32,833
down €32,833 (-43.1%), from €76,093 to €43,260
- Trade debts +€15,343
up €15,343 (+33.9%), from €45,254 to €60,597
- Reserves -€13,850
down €13,850 (-11.2%), from €124,032 to €110,182
- Other debts -€7,198
down €7,198 (-93.4%), from €7,708 to €510
- Gross operating margin +€5,570
up €5,570 (+3.3%), from €168,028 to €173,598
- Financial charges -€2,577
down €2,577 (-15.5%), from €16,590 to €14,013
- Taxes +€2,320
up €2,320 (+76.3%), from €3,041 to €5,360
- Depreciation +€2,073
up €2,073 (+6.2%), from €33,257 to €35,330
- Financial income +€1,813
up €1,813 (+14.5%), from €12,543 to €14,356
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €677,092 | €632,806 | -€44,285 | -6.5% |
| Fixed assets | 21/28 | €165,277 | €138,498 | -€26,779 | -16.2% |
| Intangible fixed assets | 21 | €546 | €39 | -€507 | -92.9% |
| Tangible fixed assets | 22/27 | €163,401 | €137,129 | -€26,272 | -16.1% |
| Land and buildings | 22 | €77,655 | €75,452 | -€2,203 | -2.8% |
| Furniture and vehicles | 24 | €85,746 | €61,677 | -€24,069 | -28.1% |
| Financial fixed assets | 28 | €1,330 | €1,330 | = | 0.0% |
| Current assets | 29/58 | €511,815 | €494,309 | -€17,506 | -3.4% |
| Stocks and contracts in progress | 3 | €352,222 | €356,908 | +€4,686 | +1.3% |
| Stocks | 30/36 | €352,222 | €356,908 | +€4,686 | +1.3% |
| Amounts receivable within one year | 40/41 | €86,034 | €51,316 | -€34,717 | -40.4% |
| Trade receivables | 40 | €24,973 | €21,750 | -€3,223 | -12.9% |
| Other amounts receivable | 41 | €61,060 | €29,566 | -€31,495 | -51.6% |
| Cash at bank and in hand | 54/58 | €66,211 | €81,056 | +€14,845 | +22.4% |
| Deferred charges and accrued income | 490/1 | €7,349 | €5,029 | -€2,320 | -31.6% |
| Total equity and liabilities | 10/49 | €677,092 | €632,806 | -€44,285 | -6.5% |
| Equity | 10/15 | €297,632 | €283,782 | -€13,850 | -4.7% |
| Contributions | 10/11 | €173,600 | €173,600 | = | 0.0% |
| Reserves | 13 | €124,032 | €110,182 | -€13,850 | -11.2% |
| Distributable reserves | 133 | €124,032 | €110,182 | -€13,850 | -11.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €379,460 | €349,025 | -€30,435 | -8.0% |
| Amounts payable after more than one year | 17 | €76,093 | €43,260 | -€32,833 | -43.1% |
| Financial debts | 170/4 | €76,093 | €43,260 | -€32,833 | -43.1% |
| Amounts payable within one year | 42/48 | €301,666 | €303,865 | +€2,198 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €38,388 | €32,833 | -€5,555 | -14.5% |
| Financial debts | 43 | €175,000 | €175,000 | = | 0.0% |
| Credit institutions | 430/8 | €175,000 | €175,000 | = | 0.0% |
| Trade debts | 44 | €45,254 | €60,597 | +€15,343 | +33.9% |
| Suppliers | 440/4 | €45,254 | €60,597 | +€15,343 | +33.9% |
| Taxes, remuneration and social security | 45 | €35,316 | €34,924 | -€392 | -1.1% |
| Taxes | 450/3 | €21,302 | €24,659 | +€3,357 | +15.8% |
| Remuneration and social security | 454/9 | €14,015 | €10,266 | -€3,749 | -26.8% |
| Other amounts payable | 47/48 | €7,708 | €510 | -€7,198 | -93.4% |
| Accrued charges and deferred income | 492/3 | €1,700 | €1,900 | +€200 | +11.8% |
| Remuneration, social security and pensions | 62 | €117,766 | €119,363 | +€1,597 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,257 | €35,330 | +€2,073 | +6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,630 | €5,022 | -€609 | -10.8% |
| Gross operating margin | 9900 | €168,028 | €173,598 | +€5,570 | +3.3% |
| Operating profit (loss) | 9901 | €11,375 | €13,884 | +€2,509 | +22.1% |
| Financial income | 75/76B | €12,543 | €14,356 | +€1,813 | +14.5% |
| Recurring financial income | 75 | €12,543 | €14,356 | +€1,813 | +14.5% |
| Financial charges | 65/66B | €16,590 | €14,013 | -€2,577 | -15.5% |
| Recurring financial charges | 65 | €16,590 | €14,013 | -€2,577 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €7,328 | €14,227 | +€6,898 | +94.1% |
| Income taxes | 67/77 | €3,041 | €5,360 | +€2,320 | +76.3% |
| Profit (loss) for the period | 9904 | €4,288 | €8,867 | +€4,579 | +106.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,288 | €8,867 | +€4,579 | +106.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.