D-MAX BELGIE: what changed
What changed
D-MAX BELGIE
NACE 46.831, Wholesale of construction materials, general range
filed annual accounts (NBB)
Net result for the year
€320,573
31-12-2024 · €349,027-€28,454
Equity
€1.2m
31-12-2024 · €842,427+€320,573
Cash
€424,243
31-12-2024 · €379,773+€44,469
Balance sheet total
€2.4m
31-12-2024 · €2.1m+€278,218
Largest movements
Assets
- Intangible fixed assets +€144,155
up €144,155 (+34.2%), from €421,591 to €565,746
- Receivables within one year +€93,755
up €93,755 (+14.6%), from €643,070 to €736,825
of which Trade receivables: +€77,073
- Cash +€44,469
up €44,469 (+11.7%), from €379,773 to €424,243
mainly Net result for the year (+€320,573) and Depreciation (+€85,721)
Equity and liabilities
- Reserves +€320,573
up €320,573 (+40.8%), from €785,735 to €1.1m
of which Distributable reserves: +€215,323
- Other debts -€110,000
down €110,000 (-77.7%), from €141,500 to €31,500
- Current portion of long-term debt -€72,701
down €72,701 (-61.1%), from €118,982 to €46,280
- Debts after one year +€59,992
up €59,992, from €0 to €59,992
- Trade debts +€53,131
up €53,131 (+10.9%), from €489,541 to €542,672
Income statement
- Staff costs +€45,135
up €45,135 (+2.7%), from €1.7m to €1.7m
- Taxes -€28,274
down €28,274 (-20.9%), from €135,449 to €107,175
Change in the result, 31-12-2024 to 31-12-2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 31-12-2024
€349,027
Gross operating margin
-€6,275
Staff costs
-€45,135
Depreciation
-€19,741
Other operating charges
+€1,142
Other operating items
+€14,206
Financial income
+€2,059
Financial charges
-€2,984
Taxes
+€28,274
Result 31-12-2025
€320,573
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€262,691
Investment
-€212,111
Financing
-€6,111
Cash 31-12-2024
€379,773
From operations (derived)
+€262,691
Net result for the year
+€320,573
Depreciation
+€85,721
Stocks and contracts
-€10,940
Receivables within one year
-€93,755
Deferred charges and accrued income
-€2,665
Trade debts
+€53,131
Tax, wage and social debts
+€20,625
Other debts
-€110,000
Investment (derived)
-€212,111
Investment in fixed assets (net)
-€212,111
Financing
-€6,111
Debts after one year
+€59,992
Current portion of long-term debt
-€72,701
Short-term financial debts
+€6,598
Cash 31-12-2025
€424,243
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,075,772 | €2,353,990 | +€278,218 | +13.4% |
| Fixed assets | 21/28 | €474,906 | €601,296 | +€126,389 | +26.6% |
| Intangible fixed assets | 21 | €421,591 | €565,746 | +€144,155 | +34.2% |
| Tangible fixed assets | 22/27 | €49,316 | €31,550 | -€17,765 | -36.0% |
| Land and buildings | 22 | €9,399 | €5,786 | -€3,613 | -38.4% |
| Plant, machinery and equipment | 23 | €12,037 | €10,196 | -€1,841 | -15.3% |
| Furniture and vehicles | 24 | €27,630 | €15,569 | -€12,061 | -43.7% |
| Leasing and similar rights | 25 | €250 | €0 | -€250 | -100% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €1,600,866 | €1,752,694 | +€151,829 | +9.5% |
| Stocks and contracts in progress | 3 | €558,875 | €569,814 | +€10,940 | +2.0% |
| Stocks | 30/36 | €558,875 | €569,814 | +€10,940 | +2.0% |
| Amounts receivable within one year | 40/41 | €643,070 | €736,825 | +€93,755 | +14.6% |
| Trade receivables | 40 | €441,544 | €518,617 | +€77,073 | +17.5% |
| Other amounts receivable | 41 | €201,526 | €218,208 | +€16,682 | +8.3% |
| Cash at bank and in hand | 54/58 | €379,773 | €424,243 | +€44,469 | +11.7% |
| Deferred charges and accrued income | 490/1 | €19,148 | €21,812 | +€2,665 | +13.9% |
| Total equity and liabilities | 10/49 | €2,075,772 | €2,353,990 | +€278,218 | +13.4% |
| Equity | 10/15 | €842,427 | €1,163,000 | +€320,573 | +38.1% |
| Contributions | 10/11 | €56,692 | €56,692 | = | 0.0% |
| Reserves | 13 | €785,735 | €1,106,308 | +€320,573 | +40.8% |
| Non-distributable reserves | 130/1 | €5,669 | €5,669 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,669 | €5,669 | = | 0.0% |
| Tax-exempt reserves | 132 | €294,700 | €399,950 | +€105,250 | +35.7% |
| Distributable reserves | 133 | €485,366 | €700,689 | +€215,323 | +44.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,233,345 | €1,190,990 | -€42,355 | -3.4% |
| Amounts payable after more than one year | 17 | €0 | €59,992 | +€59,992 | |
| Financial debts | 170/4 | €0 | €59,992 | +€59,992 | |
| Amounts payable within one year | 42/48 | €1,233,345 | €1,130,998 | -€102,347 | -8.3% |
| Current portion of amounts payable after more than one year | 42 | €118,982 | €46,280 | -€72,701 | -61.1% |
| Financial debts | 43 | €41,784 | €48,382 | +€6,598 | +15.8% |
| Credit institutions | 430/8 | €41,784 | €48,382 | +€6,598 | +15.8% |
| Trade debts | 44 | €489,541 | €542,672 | +€53,131 | +10.9% |
| Suppliers | 440/4 | €489,541 | €542,672 | +€53,131 | +10.9% |
| Taxes, remuneration and social security | 45 | €441,538 | €462,164 | +€20,625 | +4.7% |
| Taxes | 450/3 | €115,968 | €120,739 | +€4,771 | +4.1% |
| Remuneration and social security | 454/9 | €325,571 | €341,425 | +€15,855 | +4.9% |
| Other amounts payable | 47/48 | €141,500 | €31,500 | -€110,000 | -77.7% |
| Remuneration, social security and pensions | 62 | €1,670,861 | €1,715,996 | +€45,135 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,981 | €85,721 | +€19,741 | +29.9% |
| Other operating charges | 640/8 | €7,670 | €6,528 | -€1,142 | -14.9% |
| Non-recurring operating charges | 66A | €14,206 | €0 | -€14,206 | -100% |
| Gross operating margin | 9900 | €2,277,403 | €2,271,127 | -€6,275 | -0.3% |
| Operating profit (loss) | 9901 | €518,685 | €462,882 | -€55,803 | -10.8% |
| Financial income | 75/76B | €14,956 | €17,015 | +€2,059 | +13.8% |
| Recurring financial income | 75 | €14,956 | €17,015 | +€2,059 | +13.8% |
| Financial charges | 65/66B | €49,166 | €52,150 | +€2,984 | +6.1% |
| Recurring financial charges | 65 | €49,166 | €52,150 | +€2,984 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €484,476 | €427,748 | -€56,728 | -11.7% |
| Income taxes | 67/77 | €135,449 | €107,175 | -€28,274 | -20.9% |
| Profit (loss) for the period | 9904 | €349,027 | €320,573 | -€28,454 | -8.2% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | €147,350 | €105,250 | -€42,100 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €201,677 | €215,323 | +€13,646 | +6.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.