D&N: 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&N
Largest movements
- Receivables within one year +€69,803
up €69,803 (+391%), from €17,847 to €87,650
of which Trade receivables: +€43,523
- Tangible fixed assets +€27,855
up €27,855 (+36.1%), from €77,217 to €105,072
of which Furniture and vehicles: +€26,055
- Current investments +€22,422
up €22,422 (+260%), from €8,638 to €31,060
- Financial fixed assets +€5,899
up €5,899 (+3,710%), from €159 to €6,058
- Deferred charges and accrued income +€3,130
up €3,130 (+180%), from €1,740 to €4,870
- Tax, wage and social debts +€39,088
up €39,088 (+114%), from €34,236 to €73,324
of which Remuneration and social security: +€33,875
- Profit (loss) carried forward +€27,345
up €27,345 (+100%), from €27,324 to €54,669
- Current portion of long-term debt +€26,523
up €26,523 (+199%), from €13,358 to €39,881
- Debts after one year +€18,324
up €18,324 (+117%), from €15,630 to €33,954
- Trade debts +€15,862
up €15,862 (+289%), from €5,488 to €21,350
- Staff costs +€105,866
up €105,866 (+116%), from €91,622 to €197,488
- Gross operating margin +€100,968
up €100,968 (+66.5%), from €151,926 to €252,894
- Depreciation +€10,113
up €10,113 (+34.2%), from €29,552 to €39,665
- Taxes +€9,931
up €9,931, from -€6,663 to €3,268
- Financial charges +€3,311
up €3,311 (+446%), from €743 to €4,054
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.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €106,536 | €235,141 | +€128,605 | +121% |
| Fixed assets | 21/28 | €78,311 | €111,561 | +€33,250 | +42.5% |
| Intangible fixed assets | 21 | €935 | €431 | -€504 | -53.9% |
| Tangible fixed assets | 22/27 | €77,217 | €105,072 | +€27,855 | +36.1% |
| Plant, machinery and equipment | 23 | €799 | €2,599 | +€1,800 | +225% |
| Furniture and vehicles | 24 | €76,418 | €102,473 | +€26,055 | +34.1% |
| Financial fixed assets | 28 | €159 | €6,058 | +€5,899 | +3,710% |
| Current assets | 29/58 | €28,225 | €123,580 | +€95,355 | +338% |
| Amounts receivable within one year | 40/41 | €17,847 | €87,650 | +€69,803 | +391% |
| Trade receivables | 40 | €17,052 | €60,575 | +€43,523 | +255% |
| Other amounts receivable | 41 | €795 | €27,075 | +€26,280 | +3,306% |
| Current investments | 50/53 | €8,638 | €31,060 | +€22,422 | +260% |
| Deferred charges and accrued income | 490/1 | €1,740 | €4,870 | +€3,130 | +180% |
| Total equity and liabilities | 10/49 | €106,536 | €235,141 | +€128,605 | +121% |
| Equity | 10/15 | €30,324 | €57,669 | +€27,345 | +90.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,324 | €54,669 | +€27,345 | +100% |
| Amounts payable | 17/49 | €76,212 | €177,472 | +€101,260 | +133% |
| Amounts payable after more than one year | 17 | €15,630 | €33,954 | +€18,324 | +117% |
| Financial debts | 170/4 | €15,630 | €33,954 | +€18,324 | +117% |
| Amounts payable within one year | 42/48 | €60,582 | €143,518 | +€82,936 | +137% |
| Current portion of amounts payable after more than one year | 42 | €13,358 | €39,881 | +€26,523 | +199% |
| Trade debts | 44 | €5,488 | €21,350 | +€15,862 | +289% |
| Suppliers | 440/4 | €5,488 | €21,350 | +€15,862 | +289% |
| Taxes, remuneration and social security | 45 | €34,236 | €73,324 | +€39,088 | +114% |
| Taxes | 450/3 | €34,236 | €39,449 | +€5,213 | +15.2% |
| Remuneration and social security | 454/9 | - | €33,875 | +€33,875 | |
| Other amounts payable | 47/48 | €7,500 | €8,963 | +€1,463 | +19.5% |
| Remuneration, social security and pensions | 62 | €91,622 | €197,488 | +€105,866 | +116% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,552 | €39,665 | +€10,113 | +34.2% |
| Other operating charges | 640/8 | €12,178 | €9,624 | -€2,554 | -21.0% |
| Gross operating margin | 9900 | €151,926 | €252,894 | +€100,968 | +66.5% |
| Operating profit (loss) | 9901 | €18,574 | €6,117 | -€12,457 | -67.1% |
| Financial income | 75/76B | €75 | - | -€75 | |
| Recurring financial income | 75 | €75 | - | -€75 | |
| Financial charges | 65/66B | €743 | €4,054 | +€3,311 | +446% |
| Recurring financial charges | 65 | €743 | €4,054 | +€3,311 | +446% |
| Profit (loss) for the period before taxes | 9903 | €17,906 | €2,063 | -€15,843 | -88.5% |
| Income taxes | 67/77 | -€6,663 | €3,268 | +€9,931 | |
| Profit (loss) for the period | 9904 | €24,569 | -€1,205 | -€25,774 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,569 | -€1,205 | -€25,774 |
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 16 October 2026 via checked.be.