D.P.H.: 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.P.H.
Largest movements
- Tangible fixed assets -€66,522
down €66,522 (-16.0%), from €416,785 to €350,263
of which Other tangible fixed assets: -€65,630
- Receivables within one year +€22,360
up €22,360 (+40.6%), from €55,080 to €77,440
- Cash +€5,331
up €5,331 (+500%), from €1,066 to €6,397
mainly Depreciation (+€66,522) and Short-term financial debts (+€9,103)
- Debts after one year -€40,490
down €40,490 (-13.5%), from €299,900 to €259,410
- Trade debts -€14,908
down €14,908 (-73.1%), from €20,401 to €5,493
- Short-term financial debts +€9,103
new in 2025: €9,103
- Gross operating margin +€17,906
up €17,906 (+15.0%), from €119,729 to €137,635
- Financial charges +€11,948
up €11,948 (+194%), from €6,144 to €18,092
- Taxes -€1,588
down €1,588 (-44.3%), from €3,588 to €2,000
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 | €472,931 | €434,100 | -€38,831 | -8.2% |
| Fixed assets | 21/28 | €416,785 | €350,263 | -€66,522 | -16.0% |
| Tangible fixed assets | 22/27 | €416,785 | €350,263 | -€66,522 | -16.0% |
| Furniture and vehicles | 24 | €3,008 | €2,115 | -€892 | -29.7% |
| Other tangible fixed assets | 26 | €413,777 | €348,148 | -€65,630 | -15.9% |
| Current assets | 29/58 | €56,146 | €83,837 | +€27,691 | +49.3% |
| Amounts receivable within one year | 40/41 | €55,080 | €77,440 | +€22,360 | +40.6% |
| Trade receivables | 40 | €55,080 | €77,440 | +€22,360 | +40.6% |
| Cash at bank and in hand | 54/58 | €1,066 | €6,397 | +€5,331 | +500% |
| Total equity and liabilities | 10/49 | €472,931 | €434,100 | -€38,831 | -8.2% |
| Equity | 10/15 | €64,881 | €65,170 | +€289 | +0.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,119 | -€34,830 | +€289 | +0.8% |
| Amounts payable | 17/49 | €408,050 | €368,930 | -€39,120 | -9.6% |
| Amounts payable after more than one year | 17 | €299,900 | €259,410 | -€40,490 | -13.5% |
| Financial debts | 170/4 | €299,900 | €259,410 | -€40,490 | -13.5% |
| Amounts payable within one year | 42/48 | €108,150 | €109,520 | +€1,370 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €39,490 | €40,490 | +€1,000 | +2.5% |
| Financial debts | 43 | - | €9,103 | +€9,103 | |
| Credit institutions | 430/8 | - | €9,103 | +€9,103 | |
| Trade debts | 44 | €20,401 | €5,493 | -€14,908 | -73.1% |
| Suppliers | 440/4 | €20,401 | €5,493 | -€14,908 | -73.1% |
| Taxes, remuneration and social security | 45 | €13,803 | €17,338 | +€3,535 | +25.6% |
| Taxes | 450/3 | €8,925 | €13,784 | +€4,859 | +54.4% |
| Remuneration and social security | 454/9 | €4,878 | €3,553 | -€1,325 | -27.2% |
| Other amounts payable | 47/48 | €34,457 | €37,097 | +€2,640 | +7.7% |
| Remuneration, social security and pensions | 62 | €48,900 | €49,400 | +€500 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,522 | €66,522 | = | 0.0% |
| Other operating charges | 640/8 | €1,264 | €1,332 | +€68 | +5.4% |
| Gross operating margin | 9900 | €119,729 | €137,635 | +€17,906 | +15.0% |
| Operating profit (loss) | 9901 | €3,044 | €20,381 | +€17,337 | +570% |
| Financial charges | 65/66B | €6,144 | €18,092 | +€11,948 | +194% |
| Recurring financial charges | 65 | €6,144 | €18,092 | +€11,948 | +194% |
| Profit (loss) for the period before taxes | 9903 | -€3,100 | €2,289 | +€5,389 | |
| Income taxes | 67/77 | €3,588 | €2,000 | -€1,588 | -44.3% |
| Profit (loss) for the period | 9904 | -€6,688 | €289 | +€6,977 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,688 | €289 | +€6,977 |
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 25 October 2026 via checked.be.