D.M.A.: 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.M.A.
Largest movements
- Cash +€19,241
up €19,241 (+16.7%), from €115,559 to €134,800
mainly Net result for the year (+€93,512) and Other debts (+€40,000)
- Stocks and contracts +€9,807
up €9,807 (+13.0%), from €75,495 to €85,302
- Tangible fixed assets -€8,047
down €8,047 (-24.2%), from €33,254 to €25,208
of which Other tangible fixed assets: -€6,627
- Receivables within one year +€5,357
up €5,357 (+28.7%), from €18,654 to €24,010
of which Other amounts receivable: +€4,781
- Other debts +€40,000
up €40,000 (+66.7%), from €60,000 to €100,000
- Trade debts +€31,757
up €31,757 (+358.8%), from €8,851 to €40,608
- Short-term financial debts -€25,000
no longer reported in 2025 (was €25,000)
- Debts after one year -€17,282
down €17,282 (-54.2%), from €31,874 to €14,592
- Profit (loss) carried forward -€6,488
down €6,488 (-8.7%), from €74,516 to €68,028
- Gross operating margin +€52,577
up €52,577 (+30.9%), from €170,244 to €222,821
- Taxes +€13,015
up €13,015 (+65.1%), from €19,989 to €33,004
- Staff costs +€2,385
up €2,385 (+3.3%), from €72,745 to €75,130
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 | €243,251 | €269,609 | +€26,358 | +10.8% |
| Fixed assets | 21/28 | €33,543 | €25,497 | -€8,047 | -24.0% |
| Tangible fixed assets | 22/27 | €33,254 | €25,208 | -€8,047 | -24.2% |
| Plant, machinery and equipment | 23 | €14,088 | €7,738 | -€6,349 | -45.1% |
| Furniture and vehicles | 24 | €3,326 | €8,255 | +€4,929 | +148.2% |
| Other tangible fixed assets | 26 | €15,841 | €9,214 | -€6,627 | -41.8% |
| Financial fixed assets | 28 | €289 | €289 | = | 0.0% |
| Current assets | 29/58 | €209,708 | €244,113 | +€34,405 | +16.4% |
| Stocks and contracts in progress | 3 | €75,495 | €85,302 | +€9,807 | +13.0% |
| Stocks | 30/36 | €75,495 | €85,302 | +€9,807 | +13.0% |
| Amounts receivable within one year | 40/41 | €18,654 | €24,010 | +€5,357 | +28.7% |
| Trade receivables | 40 | €257 | €833 | +€576 | +224.6% |
| Other amounts receivable | 41 | €18,397 | €23,178 | +€4,781 | +26.0% |
| Cash at bank and in hand | 54/58 | €115,559 | €134,800 | +€19,241 | +16.7% |
| Total equity and liabilities | 10/49 | €243,251 | €269,609 | +€26,358 | +10.8% |
| Equity | 10/15 | €95,582 | €89,094 | -€6,488 | -6.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,466 | €2,466 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €606 | €606 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,516 | €68,028 | -€6,488 | -8.7% |
| Amounts payable | 17/49 | €147,669 | €180,515 | +€32,847 | +22.2% |
| Amounts payable after more than one year | 17 | €31,874 | €14,592 | -€17,282 | -54.2% |
| Financial debts | 170/4 | €31,874 | €14,592 | -€17,282 | -54.2% |
| Amounts payable within one year | 42/48 | €115,795 | €165,924 | +€50,129 | +43.3% |
| Current portion of amounts payable after more than one year | 42 | €17,037 | €17,282 | +€245 | +1.4% |
| Financial debts | 43 | €25,000 | - | -€25,000 | |
| Credit institutions | 430/8 | €25,000 | - | -€25,000 | |
| Trade debts | 44 | €8,851 | €40,608 | +€31,757 | +358.8% |
| Suppliers | 440/4 | €8,851 | €40,608 | +€31,757 | +358.8% |
| Taxes, remuneration and social security | 45 | €4,907 | €8,034 | +€3,127 | +63.7% |
| Remuneration and social security | 454/9 | €4,907 | €8,034 | +€3,127 | +63.7% |
| Other amounts payable | 47/48 | €60,000 | €100,000 | +€40,000 | +66.7% |
| Remuneration, social security and pensions | 62 | €72,745 | €75,130 | +€2,385 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,654 | €15,228 | +€1,573 | +11.5% |
| Other operating charges | 640/8 | €3,713 | €1,940 | -€1,772 | -47.7% |
| Gross operating margin | 9900 | €170,244 | €222,821 | +€52,577 | +30.9% |
| Operating profit (loss) | 9901 | €80,132 | €130,523 | +€50,392 | +62.9% |
| Financial income | 75/76B | €123 | - | -€123 | |
| Recurring financial income | 75 | €123 | - | -€123 | |
| Financial charges | 65/66B | €5,441 | €4,008 | -€1,434 | -26.4% |
| Recurring financial charges | 65 | €5,441 | €4,008 | -€1,434 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €74,813 | €126,516 | +€51,703 | +69.1% |
| Income taxes | 67/77 | €19,989 | €33,004 | +€13,015 | +65.1% |
| Profit (loss) for the period | 9904 | €54,824 | €93,512 | +€38,688 | +70.6% |
| Profit (loss) for the period to be appropriated | 9905 | €54,824 | €93,512 | +€38,688 | +70.6% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.