D&N Stables: 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 Stables
Largest movements
- Tangible fixed assets +€117,992
new in 2025: €117,992
of which Other tangible fixed assets: +€107,855
- Receivables within one year +€3,577
new in 2025: €3,577
- Cash +€1,786
up €1,786 (+8,956%), from €20 to €1,806
mainly Debts after one year (+€126,675) and Depreciation (+€2,392)
- Debts after one year +€126,675
new in 2025: €126,675
- Profit (loss) carried forward -€3,380
down €3,380 (-6.8%), from -€49,988 to -€53,368
- Depreciation +€2,392
new in 2025: €2,392
- Gross operating margin -€227
down €227 (-125%), from -€182 to -€408
- Financial charges +€30
up €30 (+100%), from €30 to €60
- Other operating charges +€14
up €14 (+2.8%), from €505 to €520
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
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 | €20 | €123,375 | +€123,355 | +618,631% |
| Fixed assets | 21/28 | - | €117,992 | +€117,992 | |
| Tangible fixed assets | 22/27 | - | €117,992 | +€117,992 | |
| Plant, machinery and equipment | 23 | - | €10,138 | +€10,138 | |
| Other tangible fixed assets | 26 | - | €107,855 | +€107,855 | |
| Current assets | 29/58 | €20 | €5,382 | +€5,363 | +26,893% |
| Amounts receivable within one year | 40/41 | - | €3,577 | +€3,577 | |
| Other amounts receivable | 41 | - | €3,577 | +€3,577 | |
| Cash at bank and in hand | 54/58 | €20 | €1,806 | +€1,786 | +8,956% |
| Total equity and liabilities | 10/49 | €20 | €123,375 | +€123,355 | +618,631% |
| Equity | 10/15 | -€19,050 | -€22,430 | -€3,380 | -17.7% |
| Contributions | 10/11 | €8,676 | €8,676 | = | 0.0% |
| Reserves | 13 | €22,262 | €22,262 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €20,402 | €20,402 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,988 | -€53,368 | -€3,380 | -6.8% |
| Amounts payable | 17/49 | €19,070 | €145,805 | +€126,735 | +665% |
| Amounts payable after more than one year | 17 | - | €126,675 | +€126,675 | |
| Other amounts payable | 178/9 | - | €126,675 | +€126,675 | |
| Amounts payable within one year | 42/48 | €19,070 | €19,130 | +€60 | +0.3% |
| Trade debts | 44 | - | €30 | +€30 | |
| Suppliers | 440/4 | - | €30 | +€30 | |
| Other amounts payable | 47/48 | €19,070 | €19,100 | +€30 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,392 | +€2,392 | |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€182 | -€408 | -€227 | -125% |
| Operating profit (loss) | 9901 | -€687 | -€3,320 | -€2,633 | -383% |
| Financial charges | 65/66B | €30 | €60 | +€30 | +100% |
| Recurring financial charges | 65 | €30 | €60 | +€30 | +100% |
| Profit (loss) for the period before taxes | 9903 | -€717 | -€3,380 | -€2,663 | -372% |
| Profit (loss) for the period | 9904 | -€717 | -€3,380 | -€2,663 | -372% |
| Profit (loss) for the period to be appropriated | 9905 | -€717 | -€3,380 | -€2,663 | -372% |
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 13 October 2026 via checked.be.