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 +€28,514
up €28,514 (+50.9%), from €56,005 to €84,519
of which Other amounts receivable: +€28,491
- Cash -€6,958
down €6,958 (-59.8%), from €11,638 to €4,680
mainly Other debts (-€29,000) and Receivables within one year (-€28,514)
- Debts after one year +€31,500
new in 2025: €31,500
- Other debts -€29,000
no longer reported in 2025 (was €29,000)
- Profit (loss) carried forward +€14,213
up €14,213 (+54.5%), from €26,067 to €40,280
- Tax, wage and social debts +€4,937
up €4,937 (+73.0%), from €6,760 to €11,697
- Gross operating margin -€9,444
down €9,444 (-22.4%), from €42,118 to €32,673
- Taxes +€1,214
up €1,214 (+17.8%), from €6,835 to €8,049
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 | €68,371 | €89,812 | +€21,440 | +31.4% |
| Fixed assets | 21/28 | €728 | €462 | -€266 | -36.5% |
| Tangible fixed assets | 22/27 | €728 | €462 | -€266 | -36.5% |
| Furniture and vehicles | 24 | €728 | €462 | -€266 | -36.5% |
| Current assets | 29/58 | €67,643 | €89,350 | +€21,706 | +32.1% |
| Amounts receivable within one year | 40/41 | €56,005 | €84,519 | +€28,514 | +50.9% |
| Trade receivables | 40 | €2,645 | €2,668 | +€22 | +0.8% |
| Other amounts receivable | 41 | €53,360 | €81,851 | +€28,491 | +53.4% |
| Cash at bank and in hand | 54/58 | €11,638 | €4,680 | -€6,958 | -59.8% |
| Deferred charges and accrued income | 490/1 | - | €151 | +€151 | |
| Total equity and liabilities | 10/49 | €68,371 | €89,812 | +€21,440 | +31.4% |
| Equity | 10/15 | €32,267 | €46,480 | +€14,213 | +44.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,067 | €40,280 | +€14,213 | +54.5% |
| Amounts payable | 17/49 | €36,104 | €43,332 | +€7,227 | +20.0% |
| Amounts payable after more than one year | 17 | - | €31,500 | +€31,500 | |
| Financial debts | 170/4 | - | €31,500 | +€31,500 | |
| Amounts payable within one year | 42/48 | €36,104 | €11,832 | -€24,273 | -67.2% |
| Trade debts | 44 | €344 | €134 | -€210 | -61.0% |
| Suppliers | 440/4 | €344 | €134 | -€210 | -61.0% |
| Taxes, remuneration and social security | 45 | €6,760 | €11,697 | +€4,937 | +73.0% |
| Taxes | 450/3 | €6,760 | €11,697 | +€4,937 | +73.0% |
| Other amounts payable | 47/48 | €29,000 | - | -€29,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €266 | €266 | = | 0.0% |
| Other operating charges | 640/8 | €1,419 | €1,394 | -€25 | -1.8% |
| Gross operating margin | 9900 | €42,118 | €32,673 | -€9,444 | -22.4% |
| Operating profit (loss) | 9901 | €40,433 | €31,014 | -€9,419 | -23.3% |
| Financial income | 75/76B | - | €250 | +€250 | |
| Recurring financial income | 75 | - | €250 | +€250 | |
| Financial charges | 65/66B | - | €2 | +€2 | |
| Recurring financial charges | 65 | - | €2 | +€2 | |
| Profit (loss) for the period before taxes | 9903 | €40,433 | €31,262 | -€9,171 | -22.7% |
| Income taxes | 67/77 | €6,835 | €8,049 | +€1,214 | +17.8% |
| Profit (loss) for the period | 9904 | €33,598 | €23,213 | -€10,385 | -30.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,598 | €23,213 | -€10,385 | -30.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.