D.P.W.: 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.W.
Largest movements
- Cash +€684,412
up €684,412 (+2,826%), from €24,218 to €708,630
mainly Current investments (+€490,000) and Net result for the year (+€68,469)
- Current investments -€490,000
down €490,000 (-42.4%), from €1.2m to €665,000
of which Other investments: -€490,000
- Tangible fixed assets -€65,975
down €65,975 (-11.2%), from €587,026 to €521,051
- Receivables within one year -€26,721
down €26,721 (-62.8%), from €42,574 to €15,852
of which Other amounts receivable: -€32,871
- Deferred charges and accrued income -€22,241
down €22,241 (-98.6%), from €22,552 to €311
- Profit (loss) carried forward +€68,469
up €68,469 (+31.3%), from €218,542 to €287,010
- Tax, wage and social debts +€50,759
up €50,759 (+1,960%), from €2,590 to €53,348
- Trade debts -€39,373
down €39,373 (-99.0%), from €39,766 to €392
- Taxes +€71,882
up €71,882 (+400%), from €17,968 to €89,850
- Other operating income -€68,079
down €68,079 (-23.0%), from €296,273 to €228,195
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 | €1,831,370 | €1,910,844 | +€79,474 | +4.3% |
| Fixed assets | 21/28 | €587,026 | €521,051 | -€65,975 | -11.2% |
| Tangible fixed assets | 22/27 | €587,026 | €521,051 | -€65,975 | -11.2% |
| Land and buildings | 22 | €587,026 | €521,051 | -€65,975 | -11.2% |
| Current assets | 29/58 | €1,244,344 | €1,389,793 | +€145,449 | +11.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €42,574 | €15,852 | -€26,721 | -62.8% |
| Trade receivables | 40 | €0 | €6,149 | +€6,149 | |
| Other amounts receivable | 41 | €42,574 | €9,703 | -€32,871 | -77.2% |
| Current investments | 50/53 | €1,155,000 | €665,000 | -€490,000 | -42.4% |
| Own shares | 50 | €340,000 | €340,000 | = | 0.0% |
| Other investments | 51/53 | €815,000 | €325,000 | -€490,000 | -60.1% |
| Cash at bank and in hand | 54/58 | €24,218 | €708,630 | +€684,412 | +2,826% |
| Deferred charges and accrued income | 490/1 | €22,552 | €311 | -€22,241 | -98.6% |
| Total equity and liabilities | 10/49 | €1,831,370 | €1,910,844 | +€79,474 | +4.3% |
| Equity | 10/15 | €1,588,542 | €1,657,010 | +€68,469 | +4.3% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €1,300,000 | €1,300,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €347,000 | €347,000 | = | 0.0% |
| Legal reserve | 130 | €7,000 | €7,000 | = | 0.0% |
| Own shares acquired | 1312 | €340,000 | €340,000 | = | 0.0% |
| Distributable reserves | 133 | €953,000 | €953,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €218,542 | €287,010 | +€68,469 | +31.3% |
| Amounts payable | 17/49 | €242,828 | €253,834 | +€11,006 | +4.5% |
| Amounts payable within one year | 42/48 | €242,355 | €253,741 | +€11,385 | +4.7% |
| Trade debts | 44 | €39,766 | €392 | -€39,373 | -99.0% |
| Suppliers | 440/4 | €39,766 | €392 | -€39,373 | -99.0% |
| Taxes, remuneration and social security | 45 | €2,590 | €53,348 | +€50,759 | +1,960% |
| Taxes | 450/3 | €2,590 | €53,348 | +€50,759 | +1,960% |
| Other amounts payable | 47/48 | €200,000 | €200,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €473 | €93 | -€380 | -80.3% |
| Operating income | 70/76A | €296,273 | €228,195 | -€68,079 | -23.0% |
| Other operating income | 74 | €296,273 | €228,195 | -€68,079 | -23.0% |
| Operating charges | 60/66A | €84,833 | €89,069 | +€4,236 | +5.0% |
| Services and other goods | 61 | €6,471 | €5,769 | -€702 | -10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,564 | €65,975 | +€4,410 | +7.2% |
| Other operating charges | 640/8 | €16,798 | €17,325 | +€527 | +3.1% |
| Operating profit (loss) | 9901 | €211,440 | €139,126 | -€72,314 | -34.2% |
| Financial income | 75/76B | €22,081 | €19,658 | -€2,424 | -11.0% |
| Recurring financial income | 75 | €22,081 | €19,658 | -€2,424 | -11.0% |
| Income from current assets | 751 | €22,081 | €19,658 | -€2,424 | -11.0% |
| Financial charges | 65/66B | €566 | €465 | -€101 | -17.8% |
| Recurring financial charges | 65 | €566 | €465 | -€101 | -17.8% |
| Debt charges | 650 | €100 | €0 | -€100 | -100% |
| Other financial charges | 652/9 | €465 | €465 | -€0 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €232,956 | €158,319 | -€74,637 | -32.0% |
| Income taxes | 67/77 | €17,968 | €89,850 | +€71,882 | +400% |
| Taxes | 670/3 | €58,239 | €89,850 | +€31,611 | +54.3% |
| Tax adjustments and reversals of tax provisions | 77 | €40,271 | €0 | -€40,271 | -100% |
| Profit (loss) for the period | 9904 | €214,987 | €68,469 | -€146,519 | -68.2% |
| Profit (loss) for the period to be appropriated | 9905 | €214,987 | €68,469 | -€146,519 | -68.2% |
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.