D-Management: 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-Management
Largest movements
- Cash -€254,145
down €254,145 (-45.2%), from €562,754 to €308,609
mainly Net result for the year (-€172,425) and Current investments (-€50,000)
- Current investments +€50,000
new in 2025: €50,000
- Receivables within one year +€28,011
up €28,011 (+115.7%), from €24,203 to €52,214
of which Other amounts receivable: +€26,080
- Tangible fixed assets -€20,193
down €20,193 (-23.5%), from €86,075 to €65,882
of which Furniture and vehicles: -€18,588
- Profit (loss) carried forward -€172,425
new in 2025: -€172,425
- Tax, wage and social debts -€27,099
down €27,099 (-48.6%), from €55,772 to €28,673
- Gross operating margin -€484,303
down €484,303, from €330,331 to -€153,972
- Taxes -€100,230
down €100,230 (-99.7%), from €100,501 to €271
- Depreciation +€9,270
up €9,270 (+84.9%), from €10,923 to €20,193
- Financial income -€3,411
down €3,411 (-53.1%), from €6,424 to €3,013
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 | €674,154 | €478,060 | -€196,094 | -29.1% |
| Fixed assets | 21/28 | €86,075 | €65,882 | -€20,193 | -23.5% |
| Tangible fixed assets | 22/27 | €86,075 | €65,882 | -€20,193 | -23.5% |
| Plant, machinery and equipment | 23 | €576 | €69 | -€507 | -88.0% |
| Furniture and vehicles | 24 | €83,626 | €65,038 | -€18,588 | -22.2% |
| Other tangible fixed assets | 26 | €1,873 | €775 | -€1,098 | -58.6% |
| Current assets | 29/58 | €588,079 | €412,178 | -€175,901 | -29.9% |
| Amounts receivable within one year | 40/41 | €24,203 | €52,214 | +€28,011 | +115.7% |
| Trade receivables | 40 | €69 | €2,000 | +€1,931 | +2798.6% |
| Other amounts receivable | 41 | €24,134 | €50,214 | +€26,080 | +108.1% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €562,754 | €308,609 | -€254,145 | -45.2% |
| Deferred charges and accrued income | 490/1 | €1,122 | €1,355 | +€233 | +20.8% |
| Total equity and liabilities | 10/49 | €674,154 | €478,060 | -€196,094 | -29.1% |
| Equity | 10/15 | €618,046 | €445,621 | -€172,425 | -27.9% |
| Reserves | 13 | €618,046 | €618,046 | = | 0.0% |
| Distributable reserves | 133 | €618,046 | €618,046 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€172,425 | -€172,425 | |
| Amounts payable | 17/49 | €56,108 | €32,439 | -€23,669 | -42.2% |
| Amounts payable within one year | 42/48 | €56,108 | €32,439 | -€23,669 | -42.2% |
| Trade debts | 44 | €336 | €3,766 | +€3,430 | +1020.8% |
| Suppliers | 440/4 | €336 | €3,766 | +€3,430 | +1020.8% |
| Taxes, remuneration and social security | 45 | €55,772 | €28,673 | -€27,099 | -48.6% |
| Taxes | 450/3 | €55,772 | €28,673 | -€27,099 | -48.6% |
| Non-recurring operating income | 76A | €8,800 | - | -€8,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,923 | €20,193 | +€9,270 | +84.9% |
| Other operating charges | 640/8 | €1,608 | €665 | -€943 | -58.6% |
| Gross operating margin | 9900 | €330,331 | -€153,972 | -€484,303 | |
| Operating profit (loss) | 9901 | €317,800 | -€174,830 | -€492,630 | |
| Financial income | 75/76B | €6,424 | €3,013 | -€3,411 | -53.1% |
| Recurring financial income | 75 | €6,424 | €3,013 | -€3,411 | -53.1% |
| Financial charges | 65/66B | €415 | €337 | -€78 | -18.8% |
| Recurring financial charges | 65 | €415 | €337 | -€78 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €323,809 | -€172,154 | -€495,963 | |
| Income taxes | 67/77 | €100,501 | €271 | -€100,230 | -99.7% |
| Profit (loss) for the period | 9904 | €223,308 | -€172,425 | -€395,733 | |
| Profit (loss) for the period to be appropriated | 9905 | €223,308 | -€172,425 | -€395,733 |
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 10 October 2026 via checked.be.