D. Schonmacker: 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. Schonmacker
Largest movements
- Cash +€73,099
up €73,099 (+143.1%), from €51,100 to €124,199
mainly Trade debts (+€75,146) and Depreciation (+€68,227)
- Intangible fixed assets -€44,327
down €44,327 (-28.6%), from €155,083 to €110,756
- Receivables within one year +€26,681
up €26,681 (+56.7%), from €47,067 to €73,748
of which Trade receivables: +€26,365
- Tangible fixed assets -€23,901
down €23,901 (-62.8%), from €38,070 to €14,169
of which Furniture and vehicles: -€23,721
- Stocks and contracts +€4,781
up €4,781 (+4.0%), from €118,100 to €122,880
- Trade debts +€75,146
up €75,146 (+47.3%), from €158,903 to €234,049
- Debts after one year +€62,063
up €62,063 (+105.7%), from €58,724 to €120,786
of which Financial debts: +€52,838
- Short-term financial debts -€45,000
down €45,000 (-41.6%), from €108,100 to €63,100
- Profit (loss) carried forward -€41,962
down €41,962 (-180.9%), from -€23,193 to -€65,156
- Current portion of long-term debt -€26,589
down €26,589 (-67.1%), from €39,599 to €13,011
- Staff costs -€40,426
down €40,426 (-18.0%), from €224,701 to €184,276
- Gross operating margin -€10,906
down €10,906 (-4.5%), from €243,635 to €232,729
- Financial charges +€6,545
up €6,545 (+81.3%), from €8,046 to €14,591
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 | €413,874 | €447,385 | +€33,511 | +8.1% |
| Fixed assets | 21/28 | €193,153 | €124,925 | -€68,227 | -35.3% |
| Intangible fixed assets | 21 | €155,083 | €110,756 | -€44,327 | -28.6% |
| Tangible fixed assets | 22/27 | €38,070 | €14,169 | -€23,901 | -62.8% |
| Plant, machinery and equipment | 23 | €376 | €197 | -€180 | -47.8% |
| Furniture and vehicles | 24 | €37,693 | €13,973 | -€23,721 | -62.9% |
| Current assets | 29/58 | €220,721 | €322,460 | +€101,739 | +46.1% |
| Amounts receivable after more than one year | 29 | €4,000 | €1,000 | -€3,000 | -75.0% |
| Other amounts receivable | 291 | €4,000 | €1,000 | -€3,000 | -75.0% |
| Stocks and contracts in progress | 3 | €118,100 | €122,880 | +€4,781 | +4.0% |
| Stocks | 30/36 | €118,100 | €122,880 | +€4,781 | +4.0% |
| Amounts receivable within one year | 40/41 | €47,067 | €73,748 | +€26,681 | +56.7% |
| Trade receivables | 40 | €43,549 | €69,915 | +€26,365 | +60.5% |
| Other amounts receivable | 41 | €3,518 | €3,833 | +€315 | +9.0% |
| Cash at bank and in hand | 54/58 | €51,100 | €124,199 | +€73,099 | +143.1% |
| Deferred charges and accrued income | 490/1 | €455 | €633 | +€178 | +39.2% |
| Total equity and liabilities | 10/49 | €413,874 | €447,385 | +€33,511 | +8.1% |
| Equity | 10/15 | -€3,193 | -€45,156 | -€41,962 | -1314.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,193 | -€65,156 | -€41,962 | -180.9% |
| Amounts payable | 17/49 | €417,067 | €492,541 | +€75,474 | +18.1% |
| Amounts payable after more than one year | 17 | €58,724 | €120,786 | +€62,063 | +105.7% |
| Financial debts | 170/4 | €32,157 | €84,994 | +€52,838 | +164.3% |
| Other amounts payable | 178/9 | €26,567 | €35,792 | +€9,225 | +34.7% |
| Amounts payable within one year | 42/48 | €355,450 | €369,005 | +€13,555 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €39,599 | €13,011 | -€26,589 | -67.1% |
| Financial debts | 43 | €108,100 | €63,100 | -€45,000 | -41.6% |
| Other loans | 439 | €108,100 | €63,100 | -€45,000 | -41.6% |
| Trade debts | 44 | €158,903 | €234,049 | +€75,146 | +47.3% |
| Suppliers | 440/4 | €158,903 | €234,049 | +€75,146 | +47.3% |
| Taxes, remuneration and social security | 45 | €48,848 | €58,845 | +€9,998 | +20.5% |
| Taxes | 450/3 | €25,052 | €26,237 | +€1,185 | +4.7% |
| Remuneration and social security | 454/9 | €23,796 | €32,609 | +€8,813 | +37.0% |
| Accrued charges and deferred income | 492/3 | €2,894 | €2,750 | -€144 | -5.0% |
| Non-recurring operating income | 76A | - | €1,318 | +€1,318 | |
| Remuneration, social security and pensions | 62 | €224,701 | €184,276 | -€40,426 | -18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,849 | €68,227 | -€622 | -0.9% |
| Other operating charges | 640/8 | €2,711 | €4,659 | +€1,948 | +71.9% |
| Non-recurring operating charges | 66A | - | €5,328 | +€5,328 | |
| Gross operating margin | 9900 | €243,635 | €232,729 | -€10,906 | -4.5% |
| Operating profit (loss) | 9901 | -€52,626 | -€29,761 | +€22,865 | +43.4% |
| Financial income | 75/76B | €2,231 | €2,655 | +€424 | +19.0% |
| Recurring financial income | 75 | €2,231 | €2,655 | +€424 | +19.0% |
| Financial charges | 65/66B | €8,046 | €14,591 | +€6,545 | +81.3% |
| Recurring financial charges | 65 | €8,046 | €14,591 | +€6,545 | +81.3% |
| Profit (loss) for the period before taxes | 9903 | -€58,441 | -€41,698 | +€16,743 | +28.7% |
| Income taxes | 67/77 | €151 | €265 | +€114 | +75.1% |
| Profit (loss) for the period | 9904 | -€58,592 | -€41,962 | +€16,630 | +28.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€58,592 | -€41,962 | +€16,630 | +28.4% |
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 30 September 2026 via checked.be.