D&O Heating: what changed
D&O Heating
Largest movements
- Tangible fixed assets +€299,493
up €299,493 (+5,699%), from €5,255 to €304,748
of which Land and buildings: +€300,021
- Cash +€115,674
up €115,674 (+515%), from €22,483 to €138,156
mainly Debts after one year (+€230,769) and Trade debts (+€96,537)
- Receivables within one year -€17,809
down €17,809 (-5.1%), from €349,230 to €331,421
of which Trade receivables: -€31,760
- Debts after one year +€230,769
new in 2025: €230,769
- Trade debts +€96,537
up €96,537 (+111%), from €87,053 to €183,590
- Reserves +€55,000
up €55,000 (+173%), from €31,860 to €86,860
of which Distributable reserves: +€55,000
- Tax, wage and social debts +€12,565
up €12,565 (+43.5%), from €28,884 to €41,449
of which Taxes: +€20,246
- Current portion of long-term debt +€12,501
new in 2025: €12,501
- Gross operating margin +€40,801
up €40,801 (+61.8%), from €66,073 to €106,874
- Taxes +€11,266
up €11,266 (+59.4%), from €18,980 to €30,246
- Depreciation +€5,224
up €5,224 (+715%), from €731 to €5,955
- Financial charges +€4,988
up €4,988 (+164%), from €3,039 to €8,027
Change in the result, 2024 to 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.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €385,968 | €783,326 | +€397,358 | +103% |
| Fixed assets | 21/28 | €5,255 | €304,748 | +€299,493 | +5,699% |
| Tangible fixed assets | 22/27 | €5,255 | €304,748 | +€299,493 | +5,699% |
| Land and buildings | 22 | - | €300,021 | +€300,021 | |
| Plant, machinery and equipment | 23 | €5,255 | €4,727 | -€528 | -10.0% |
| Current assets | 29/58 | €380,713 | €478,578 | +€97,865 | +25.7% |
| Stocks and contracts in progress | 3 | €9,000 | €9,000 | = | 0.0% |
| Stocks | 30/36 | €9,000 | €9,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €349,230 | €331,421 | -€17,809 | -5.1% |
| Trade receivables | 40 | €324,855 | €293,094 | -€31,760 | -9.8% |
| Other amounts receivable | 41 | €24,375 | €38,327 | +€13,952 | +57.2% |
| Cash at bank and in hand | 54/58 | €22,483 | €138,156 | +€115,674 | +515% |
| Total equity and liabilities | 10/49 | €385,968 | €783,326 | +€397,358 | +103% |
| Equity | 10/15 | €139,772 | €191,717 | +€51,945 | +37.2% |
| Contributions | 10/11 | €6,200 | €620 | -€5,580 | -90.0% |
| Reserves | 13 | €31,860 | €86,860 | +€55,000 | +173% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €85,000 | +€55,000 | +183% |
| Profit (loss) carried forward | 14 | €101,712 | €104,237 | +€2,525 | +2.5% |
| Amounts payable | 17/49 | €246,196 | €591,609 | +€345,413 | +140% |
| Amounts payable after more than one year | 17 | - | €230,769 | +€230,769 | |
| Financial debts | 170/4 | - | €230,769 | +€230,769 | |
| Amounts payable within one year | 42/48 | €246,196 | €360,840 | +€114,644 | +46.6% |
| Current portion of amounts payable after more than one year | 42 | - | €12,501 | +€12,501 | |
| Trade debts | 44 | €87,053 | €183,590 | +€96,537 | +111% |
| Suppliers | 440/4 | €87,053 | €183,590 | +€96,537 | +111% |
| Taxes, remuneration and social security | 45 | €28,884 | €41,449 | +€12,565 | +43.5% |
| Taxes | 450/3 | €19,793 | €40,039 | +€20,246 | +102% |
| Remuneration and social security | 454/9 | €9,091 | €1,410 | -€7,681 | -84.5% |
| Other amounts payable | 47/48 | €130,259 | €123,300 | -€6,960 | -5.3% |
| Remuneration, social security and pensions | 62 | €4,368 | €4,032 | -€336 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €731 | €5,955 | +€5,224 | +715% |
| Other operating charges | 640/8 | €1,529 | €1,507 | -€22 | -1.4% |
| Gross operating margin | 9900 | €66,073 | €106,874 | +€40,801 | +61.8% |
| Operating profit (loss) | 9901 | €59,445 | €95,381 | +€35,935 | +60.5% |
| Financial income | 75/76B | €32 | €418 | +€386 | +1,191% |
| Recurring financial income | 75 | €32 | €418 | +€386 | +1,191% |
| Financial charges | 65/66B | €3,039 | €8,027 | +€4,988 | +164% |
| Recurring financial charges | 65 | €3,039 | €8,027 | +€4,988 | +164% |
| Profit (loss) for the period before taxes | 9903 | €56,439 | €87,772 | +€31,333 | +55.5% |
| Income taxes | 67/77 | €18,980 | €30,246 | +€11,266 | +59.4% |
| Profit (loss) for the period | 9904 | €37,459 | €57,525 | +€20,067 | +53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,459 | €57,525 | +€20,067 | +53.6% |
Next steps
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 7 November 2026 via checked.be.