D'OR: 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'OR
Largest movements
- Tangible fixed assets -€17,550
down €17,550 (-19.4%), from €90,527 to €72,978
- Cash +€2,971
up €2,971 (+26.4%), from €11,266 to €14,237
mainly Depreciation (+€23,538) and Net result for the year (+€5,748)
- Debts after one year -€12,645
down €12,645 (-18.2%), from €69,441 to €56,796
- Profit (loss) carried forward +€5,748
up €5,748 (+21.6%), from -€26,613 to -€20,864
- Tax, wage and social debts -€3,403
down €3,403 (-81.7%), from €4,166 to €763
of which Remuneration and social security: -€3,335
- Current portion of long-term debt -€1,668
down €1,668 (-9.3%), from €17,966 to €16,299
- Other debts -€1,268
down €1,268 (-6.1%), from €20,650 to €19,383
- Gross operating margin +€11,757
up €11,757 (+24.4%), from €48,236 to €59,993
- Financial charges -€2,074
down €2,074 (-31.0%), from €6,694 to €4,620
- Staff costs -€1,654
down €1,654 (-6.1%), from €26,956 to €25,302
- Depreciation +€790
up €790 (+3.5%), from €22,748 to €23,538
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 | €116,704 | €102,397 | -€14,307 | -12.3% |
| Fixed assets | 21/28 | €90,923 | €73,094 | -€17,829 | -19.6% |
| Intangible fixed assets | 21 | €396 | €116 | -€279 | -70.6% |
| Tangible fixed assets | 22/27 | €90,527 | €72,978 | -€17,550 | -19.4% |
| Plant, machinery and equipment | 23 | €46,736 | €38,640 | -€8,095 | -17.3% |
| Furniture and vehicles | 24 | €17,921 | €15,440 | -€2,481 | -13.8% |
| Other tangible fixed assets | 26 | €25,870 | €18,897 | -€6,973 | -27.0% |
| Current assets | 29/58 | €25,781 | €29,303 | +€3,522 | +13.7% |
| Stocks and contracts in progress | 3 | €10,956 | €10,498 | -€458 | -4.2% |
| Stocks | 30/36 | €10,956 | €10,498 | -€458 | -4.2% |
| Amounts receivable within one year | 40/41 | €3,376 | €4,091 | +€715 | +21.2% |
| Trade receivables | 40 | €1,437 | €1,894 | +€456 | +31.8% |
| Other amounts receivable | 41 | €1,939 | €2,197 | +€259 | +13.3% |
| Cash at bank and in hand | 54/58 | €11,266 | €14,237 | +€2,971 | +26.4% |
| Deferred charges and accrued income | 490/1 | €182 | €477 | +€295 | +161.4% |
| Total equity and liabilities | 10/49 | €116,704 | €102,397 | -€14,307 | -12.3% |
| Equity | 10/15 | -€6,613 | -€864 | +€5,748 | +86.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,613 | -€20,864 | +€5,748 | +21.6% |
| Amounts payable | 17/49 | €123,316 | €103,261 | -€20,055 | -16.3% |
| Amounts payable after more than one year | 17 | €69,441 | €56,796 | -€12,645 | -18.2% |
| Financial debts | 170/4 | €69,441 | €56,796 | -€12,645 | -18.2% |
| Amounts payable within one year | 42/48 | €53,875 | €46,466 | -€7,410 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €17,966 | €16,299 | -€1,668 | -9.3% |
| Trade debts | 44 | €11,093 | €10,022 | -€1,071 | -9.7% |
| Suppliers | 440/4 | €11,093 | €10,022 | -€1,071 | -9.7% |
| Taxes, remuneration and social security | 45 | €4,166 | €763 | -€3,403 | -81.7% |
| Taxes | 450/3 | €830 | €763 | -€68 | -8.2% |
| Remuneration and social security | 454/9 | €3,335 | - | -€3,335 | |
| Other amounts payable | 47/48 | €20,650 | €19,383 | -€1,268 | -6.1% |
| Remuneration, social security and pensions | 62 | €26,956 | €25,302 | -€1,654 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,748 | €23,538 | +€790 | +3.5% |
| Other operating charges | 640/8 | €803 | €837 | +€34 | +4.2% |
| Gross operating margin | 9900 | €48,236 | €59,993 | +€11,757 | +24.4% |
| Operating profit (loss) | 9901 | -€2,271 | €10,316 | +€12,586 | |
| Financial income | 75/76B | €5 | €52 | +€48 | +1051.5% |
| Recurring financial income | 75 | €5 | €52 | +€48 | +1051.5% |
| Financial charges | 65/66B | €6,694 | €4,620 | -€2,074 | -31.0% |
| Recurring financial charges | 65 | €6,694 | €4,620 | -€2,074 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,960 | €5,748 | +€14,709 | |
| Profit (loss) for the period | 9904 | -€8,960 | €5,748 | +€14,709 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,960 | €5,748 | +€14,709 |
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 12 October 2026 via checked.be.