D&R: 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&R
Largest movements
- Cash +€13,995
up €13,995 (+16.8%), from €83,261 to €97,256
mainly Net result for the year (+€31,589) and Depreciation (+€170)
- Receivables within one year +€10,665
up €10,665 (+1678.2%), from €635 to €11,300
of which Trade receivables: +€10,820
- Deferred charges and accrued income +€1,198
new in 2025: €1,198
- Profit (loss) carried forward +€31,589
up €31,589 (+52.1%), from -€60,686 to -€29,097
- Other debts -€4,361
down €4,361 (-3.3%), from €133,867 to €129,506
- Staff costs -€26,184
down €26,184 (-37.9%), from €69,074 to €42,890
- Gross operating margin -€19,047
down €19,047 (-20.2%), from €94,476 to €75,429
- Financial charges -€2,014
down €2,014 (-94.8%), from €2,124 to €110
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 | €84,235 | €109,923 | +€25,688 | +30.5% |
| Fixed assets | 21/28 | €339 | €169 | -€170 | -50.2% |
| Tangible fixed assets | 22/27 | €339 | €169 | -€170 | -50.2% |
| Furniture and vehicles | 24 | €339 | €169 | -€170 | -50.2% |
| Current assets | 29/58 | €83,896 | €109,754 | +€25,858 | +30.8% |
| Amounts receivable within one year | 40/41 | €635 | €11,300 | +€10,665 | +1678.2% |
| Trade receivables | 40 | €480 | €11,300 | +€10,820 | +2254.2% |
| Other amounts receivable | 41 | €155 | - | -€155 | |
| Cash at bank and in hand | 54/58 | €83,261 | €97,256 | +€13,995 | +16.8% |
| Deferred charges and accrued income | 490/1 | - | €1,198 | +€1,198 | |
| Total equity and liabilities | 10/49 | €84,235 | €109,923 | +€25,688 | +30.5% |
| Equity | 10/15 | -€55,686 | -€24,097 | +€31,589 | +56.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Outside capital | 11 | €5,000 | - | -€5,000 | |
| Share premium | 1100/10 | €5,000 | - | -€5,000 | |
| Profit (loss) carried forward | 14 | -€60,686 | -€29,097 | +€31,589 | +52.1% |
| Amounts payable | 17/49 | €139,921 | €134,020 | -€5,901 | -4.2% |
| Amounts payable within one year | 42/48 | €139,921 | €134,020 | -€5,901 | -4.2% |
| Trade debts | 44 | €3,958 | €3,043 | -€915 | -23.1% |
| Suppliers | 440/4 | €3,958 | €3,043 | -€915 | -23.1% |
| Advances received on contracts in progress | 46 | €64 | - | -€64 | |
| Taxes, remuneration and social security | 45 | €2,032 | €1,471 | -€561 | -27.6% |
| Taxes | 450/3 | €1,270 | €1,471 | +€200 | +15.8% |
| Remuneration and social security | 454/9 | €762 | - | -€762 | |
| Other amounts payable | 47/48 | €133,867 | €129,506 | -€4,361 | -3.3% |
| Remuneration, social security and pensions | 62 | €69,074 | €42,890 | -€26,184 | -37.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €170 | €170 | = | 0.0% |
| Other operating charges | 640/8 | €650 | €670 | +€20 | +3.0% |
| Gross operating margin | 9900 | €94,476 | €75,429 | -€19,047 | -20.2% |
| Operating profit (loss) | 9901 | €24,582 | €31,699 | +€7,118 | +29.0% |
| Financial charges | 65/66B | €2,124 | €110 | -€2,014 | -94.8% |
| Recurring financial charges | 65 | €2,124 | €110 | -€2,014 | -94.8% |
| Profit (loss) for the period before taxes | 9903 | €22,458 | €31,589 | +€9,132 | +40.7% |
| Profit (loss) for the period | 9904 | €22,458 | €31,589 | +€9,132 | +40.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,458 | €31,589 | +€9,132 | +40.7% |
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 6 October 2026 via checked.be.