D-phinance: what changed
Two fiscal 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-phinance
Largest movements
- Receivables within one year -€36,899
down €36,899 (-19.5%), from €189,221 to €152,321
of which Other amounts receivable: -€24,899
- Deferred charges and accrued income +€14,910
up €14,910 (+422.7%), from €3,527 to €18,438
- Cash +€14,538
up €14,538 (+30.4%), from €47,892 to €62,430
mainly Net result for the year (+€78,720) and Receivables within one year (+€36,899)
- Reserves -€28,432
down €28,432 (-11.4%), from €249,383 to €220,951
- Tax, wage and social debts +€27,664
up €27,664 (+78.7%), from €35,169 to €62,833
- Short-term financial debts -€21,777
down €21,777 (-94.2%), from €23,112 to €1,335
- Other debts +€18,952
up €18,952 (+592.2%), from €3,200 to €22,152
- Current portion of long-term debt -€7,323
no longer reported in 2025 (was €7,323)
- Gross operating margin +€31,718
up €31,718 (+48.1%), from €65,943 to €97,661
- Financial income -€27,380
down €27,380 (-75.8%), from €36,137 to €8,757
- Other operating charges +€1,494
up €1,494 (+81.9%), from €1,825 to €3,318
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 | €341,648 | €333,557 | -€8,091 | -2.4% |
| Fixed assets | 21/28 | €101,008 | €100,368 | -€640 | -0.6% |
| Tangible fixed assets | 22/27 | €758 | €118 | -€640 | -84.4% |
| Furniture and vehicles | 24 | €758 | €118 | -€640 | -84.4% |
| Financial fixed assets | 28 | €100,250 | €100,250 | = | 0.0% |
| Current assets | 29/58 | €240,640 | €233,189 | -€7,451 | -3.1% |
| Amounts receivable within one year | 40/41 | €189,221 | €152,321 | -€36,899 | -19.5% |
| Trade receivables | 40 | €55,000 | €43,000 | -€12,000 | -21.8% |
| Other amounts receivable | 41 | €134,221 | €109,321 | -€24,899 | -18.6% |
| Cash at bank and in hand | 54/58 | €47,892 | €62,430 | +€14,538 | +30.4% |
| Deferred charges and accrued income | 490/1 | €3,527 | €18,438 | +€14,910 | +422.7% |
| Total equity and liabilities | 10/49 | €341,648 | €333,557 | -€8,091 | -2.4% |
| Equity | 10/15 | €267,983 | €239,551 | -€28,432 | -10.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €249,383 | €220,951 | -€28,432 | -11.4% |
| Distributable reserves | 133 | €249,383 | €220,951 | -€28,432 | -11.4% |
| Amounts payable | 17/49 | €73,664 | €94,006 | +€20,341 | +27.6% |
| Amounts payable within one year | 42/48 | €73,664 | €94,006 | +€20,341 | +27.6% |
| Current portion of amounts payable after more than one year | 42 | €7,323 | - | -€7,323 | |
| Financial debts | 43 | €23,112 | €1,335 | -€21,777 | -94.2% |
| Credit institutions | 430/8 | €23,112 | €1,335 | -€21,777 | -94.2% |
| Trade debts | 44 | €4,861 | €7,686 | +€2,825 | +58.1% |
| Suppliers | 440/4 | €4,861 | €7,686 | +€2,825 | +58.1% |
| Taxes, remuneration and social security | 45 | €35,169 | €62,833 | +€27,664 | +78.7% |
| Taxes | 450/3 | €35,169 | €62,833 | +€27,664 | +78.7% |
| Other amounts payable | 47/48 | €3,200 | €22,152 | +€18,952 | +592.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €813 | €640 | -€174 | -21.4% |
| Other operating charges | 640/8 | €1,825 | €3,318 | +€1,494 | +81.9% |
| Non-recurring operating charges | 66A | €449 | - | -€449 | |
| Gross operating margin | 9900 | €65,943 | €97,661 | +€31,718 | +48.1% |
| Operating profit (loss) | 9901 | €62,856 | €93,703 | +€30,847 | +49.1% |
| Financial income | 75/76B | €36,137 | €8,757 | -€27,380 | -75.8% |
| Recurring financial income | 75 | €36,137 | €8,757 | -€27,380 | -75.8% |
| Financial charges | 65/66B | €712 | €1,622 | +€910 | +127.7% |
| Recurring financial charges | 65 | €712 | €1,622 | +€910 | +127.7% |
| Profit (loss) for the period before taxes | 9903 | €98,280 | €100,839 | +€2,558 | +2.6% |
| Income taxes | 67/77 | €22,415 | €22,119 | -€296 | -1.3% |
| Profit (loss) for the period | 9904 | €75,865 | €78,720 | +€2,854 | +3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €75,865 | €78,720 | +€2,854 | +3.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.