D & R: 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 & R
Largest movements
- Receivables within one year +€200,064
up €200,064 (+305%), from €65,689 to €265,754
of which Trade receivables: +€204,672
- Tangible fixed assets -€86,123
down €86,123 (-100%), from €86,123 to €0
of which Furniture and vehicles: -€56,787
- Deferred charges and accrued income -€8,999
down €8,999 (-100%), from €8,999 to €0
- Profit (loss) carried forward +€93,051
up €93,051 (+56.0%), from -€166,181 to -€73,130
- Other debts +€22,908
up €22,908 (+10.7%), from €214,065 to €236,973
- Accrued charges and deferred income +€12,490
new in 2025: €12,490
- Trade debts -€10,228
down €10,228 (-94.7%), from €10,806 to €577
- Current portion of long-term debt -€9,744
down €9,744 (-56.8%), from €17,147 to €7,403
- Gross operating margin +€181,853
up €181,853, from -€59,040 to €122,813
- Depreciation -€25,141
down €25,141 (-100%), from €25,141 to €0
- Financial income -€1,321
down €1,321 (-95.4%), from €1,385 to €64
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 | €160,892 | €266,927 | +€106,035 | +65.9% |
| Fixed assets | 21/28 | €86,123 | €0 | -€86,123 | -100% |
| Tangible fixed assets | 22/27 | €86,123 | €0 | -€86,123 | -100% |
| Plant, machinery and equipment | 23 | €29,337 | €0 | -€29,337 | -100% |
| Furniture and vehicles | 24 | €56,787 | €0 | -€56,787 | -100% |
| Current assets | 29/58 | €74,769 | €266,927 | +€192,158 | +257% |
| Amounts receivable within one year | 40/41 | €65,689 | €265,754 | +€200,064 | +305% |
| Trade receivables | 40 | €61,082 | €265,754 | +€204,672 | +335% |
| Other amounts receivable | 41 | €4,607 | €0 | -€4,607 | -100% |
| Cash at bank and in hand | 54/58 | €81 | €1,173 | +€1,093 | +1,357% |
| Deferred charges and accrued income | 490/1 | €8,999 | €0 | -€8,999 | -100% |
| Total equity and liabilities | 10/49 | €160,892 | €266,927 | +€106,035 | +65.9% |
| Equity | 10/15 | -€91,907 | €1,144 | +€93,051 | |
| Contributions | 10/11 | €72,400 | €72,400 | = | 0.0% |
| Reserves | 13 | €1,874 | €1,874 | = | 0.0% |
| Distributable reserves | 133 | €1,874 | €1,874 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€166,181 | -€73,130 | +€93,051 | +56.0% |
| Amounts payable | 17/49 | €252,799 | €265,783 | +€12,984 | +5.1% |
| Amounts payable after more than one year | 17 | €7,403 | €0 | -€7,403 | -100% |
| Financial debts | 170/4 | €7,403 | €0 | -€7,403 | -100% |
| Amounts payable within one year | 42/48 | €245,396 | €253,293 | +€7,897 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €17,147 | €7,403 | -€9,744 | -56.8% |
| Financial debts | 43 | €3,378 | €3,789 | +€411 | +12.2% |
| Credit institutions | 430/8 | €3,378 | €3,789 | +€411 | +12.2% |
| Trade debts | 44 | €10,806 | €577 | -€10,228 | -94.7% |
| Suppliers | 440/4 | €10,806 | €577 | -€10,228 | -94.7% |
| Taxes, remuneration and social security | 45 | €0 | €4,550 | +€4,550 | |
| Taxes | 450/3 | €0 | €4,550 | +€4,550 | |
| Other amounts payable | 47/48 | €214,065 | €236,973 | +€22,908 | +10.7% |
| Accrued charges and deferred income | 492/3 | - | €12,490 | +€12,490 | |
| Non-recurring operating income | 76A | - | €137,947 | +€137,947 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,141 | €0 | -€25,141 | -100% |
| Other operating charges | 640/8 | €3,946 | €3,067 | -€879 | -22.3% |
| Non-recurring operating charges | 66A | - | €23,850 | +€23,850 | |
| Gross operating margin | 9900 | -€59,040 | €122,813 | +€181,853 | |
| Operating profit (loss) | 9901 | -€88,127 | €95,897 | +€184,024 | |
| Financial income | 75/76B | €1,385 | €64 | -€1,321 | -95.4% |
| Recurring financial income | 75 | €1,385 | €64 | -€1,321 | -95.4% |
| Financial charges | 65/66B | €3,312 | €2,910 | -€402 | -12.1% |
| Recurring financial charges | 65 | €3,312 | €2,910 | -€402 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | -€90,055 | €93,051 | +€183,105 | |
| Profit (loss) for the period | 9904 | -€90,055 | €93,051 | +€183,105 | |
| Profit (loss) for the period to be appropriated | 9905 | -€90,055 | €93,051 | +€183,105 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.