D-Plates: 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-Plates
Largest movements
- Tangible fixed assets +€384,428
up €384,428 (+8.8%), from €4.4m to €4.8m
of which Leasing and similar rights: +€372,486
- Deferred charges and accrued income +€103,465
up €103,465 (+157%), from €65,848 to €169,313
- Receivables within one year +€98,459
up €98,459 (+12.9%), from €764,207 to €862,666
of which Other amounts receivable: +€112,631
- Cash -€64,342
down €64,342 (-40.0%), from €160,678 to €96,337
mainly Investment in fixed assets (net) (-€1.7m) and Short-term financial debts (-€200,000)
- Current portion of long-term debt +€517,485
up €517,485 (+59.4%), from €870,902 to €1.4m
- Debts after one year +€231,713
up €231,713 (+11.5%), from €2.0m to €2.2m
- Short-term financial debts -€200,000
down €200,000 (-50.0%), from €400,000 to €200,000
- Profit (loss) carried forward +€157,700
up €157,700 (+9.8%), from €1.6m to €1.8m
- Trade debts -€157,697
down €157,697 (-70.3%), from €224,418 to €66,721
- Depreciation +€521,413
up €521,413 (+66.3%), from €785,911 to €1.3m
- Gross operating margin +€264,693
up €264,693 (+15.6%), from €1.7m to €2.0m
- Staff costs +€92,151
up €92,151 (+74.3%), from €124,093 to €216,244
- Taxes -€87,049
down €87,049 (-77.0%), from €113,045 to €25,996
- Financial charges +€31,879
up €31,879 (+26.6%), from €119,866 to €151,744
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 | €5,377,967 | €5,916,359 | +€538,392 | +10.0% |
| Formation expenses | 20 | - | €6,777 | +€6,777 | |
| Fixed assets | 21/28 | €4,387,234 | €4,781,267 | +€394,033 | +9.0% |
| Intangible fixed assets | 21 | - | €9,604 | +€9,604 | |
| Tangible fixed assets | 22/27 | €4,371,259 | €4,755,687 | +€384,428 | +8.8% |
| Plant, machinery and equipment | 23 | €4,141,598 | €4,185,402 | +€43,804 | +1.1% |
| Furniture and vehicles | 24 | €121,949 | €90,087 | -€31,862 | -26.1% |
| Leasing and similar rights | 25 | €107,712 | €480,198 | +€372,486 | +346% |
| Financial fixed assets | 28 | €15,975 | €15,975 | = | 0.0% |
| Current assets | 29/58 | €990,733 | €1,128,315 | +€137,583 | +13.9% |
| Amounts receivable within one year | 40/41 | €764,207 | €862,666 | +€98,459 | +12.9% |
| Trade receivables | 40 | €655,003 | €640,831 | -€14,172 | -2.2% |
| Other amounts receivable | 41 | €109,204 | €221,835 | +€112,631 | +103% |
| Cash at bank and in hand | 54/58 | €160,678 | €96,337 | -€64,342 | -40.0% |
| Deferred charges and accrued income | 490/1 | €65,848 | €169,313 | +€103,465 | +157% |
| Total equity and liabilities | 10/49 | €5,377,967 | €5,916,359 | +€538,392 | +10.0% |
| Equity | 10/15 | €1,625,483 | €1,783,183 | +€157,700 | +9.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,605,023 | €1,762,723 | +€157,700 | +9.8% |
| Amounts payable | 17/49 | €3,752,483 | €4,133,176 | +€380,692 | +10.1% |
| Amounts payable after more than one year | 17 | €2,015,810 | €2,247,523 | +€231,713 | +11.5% |
| Financial debts | 170/4 | €2,015,810 | €2,247,523 | +€231,713 | +11.5% |
| Amounts payable within one year | 42/48 | €1,668,264 | €1,800,972 | +€132,709 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €870,902 | €1,388,387 | +€517,485 | +59.4% |
| Financial debts | 43 | €400,000 | €200,000 | -€200,000 | -50.0% |
| Credit institutions | 430/8 | €400,000 | €200,000 | -€200,000 | -50.0% |
| Trade debts | 44 | €224,418 | €66,721 | -€157,697 | -70.3% |
| Suppliers | 440/4 | €224,418 | €66,721 | -€157,697 | -70.3% |
| Taxes, remuneration and social security | 45 | €22,943 | €95,863 | +€72,920 | +318% |
| Taxes | 450/3 | €6,926 | €77,601 | +€70,675 | +1,020% |
| Remuneration and social security | 454/9 | €16,017 | €18,263 | +€2,245 | +14.0% |
| Other amounts payable | 47/48 | €150,000 | €50,000 | -€100,000 | -66.7% |
| Accrued charges and deferred income | 492/3 | €68,410 | €84,681 | +€16,270 | +23.8% |
| Remuneration, social security and pensions | 62 | €124,093 | €216,244 | +€92,151 | +74.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €785,911 | €1,307,324 | +€521,413 | +66.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,429 | €13,368 | +€9,938 | +290% |
| Other operating charges | 640/8 | €27,025 | €39,681 | +€12,656 | +46.8% |
| Non-recurring operating charges | 66A | - | €5,436 | +€5,436 | |
| Gross operating margin | 9900 | €1,697,784 | €1,962,477 | +€264,693 | +15.6% |
| Operating profit (loss) | 9901 | €757,326 | €380,424 | -€376,901 | -49.8% |
| Financial income | 75/76B | €5,557 | €5,016 | -€541 | -9.7% |
| Recurring financial income | 75 | €5,557 | €5,016 | -€541 | -9.7% |
| Financial charges | 65/66B | €119,866 | €151,744 | +€31,879 | +26.6% |
| Recurring financial charges | 65 | €119,866 | €151,744 | +€31,879 | +26.6% |
| Profit (loss) for the period before taxes | 9903 | €643,017 | €233,696 | -€409,321 | -63.7% |
| Income taxes | 67/77 | €113,045 | €25,996 | -€87,049 | -77.0% |
| Profit (loss) for the period | 9904 | €529,972 | €207,700 | -€322,272 | -60.8% |
| Profit (loss) for the period to be appropriated | 9905 | €529,972 | €207,700 | -€322,272 | -60.8% |
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.