D.T.: 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.
What changed
D.T.
NACE 46.110, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€11,898
2024 · €61,909-€50,011
Equity
€31.2m
2024 · €13.8m+€17.4m
Cash
€183,437
2024 · €19,671+€163,766
Balance sheet total
€43.1m
2024 · €16.2m+€26.8m
Largest movements
Assets
- Financial fixed assets +€26.9m
up €26.9m (+192.7%), from €14.0m to €40.9m
of which Affiliated companies: +€26.9m
Equity and liabilities
- Revaluation surpluses +€17.4m
up €17.4m (+212.3%), from €8.2m to €25.5m
- Debts after one year +€9.5m
up €9.5m (+505.2%), from €1.9m to €11.4m
Income statement
- Financial charges +€42,927
up €42,927 (+42.6%), from €100,728 to €143,655
of which Financial charges: +€43,114
- Financial income -€35,890
down €35,890 (-19.9%), from €180,358 to €144,468
- Turnover -€34,236
down €34,236 (-29.5%), from €116,058 to €81,821
- Depreciation -€28,856
down €28,856 (-52.1%), from €55,371 to €26,515
- Other operating charges -€11,538
down €11,538 (-54.7%), from €21,074 to €9,537
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.
Result 2024
€61,909
Turnover
-€34,236
Other operating income
-€359
Goods and materials
+€1,405
Services and other goods
-€225
Staff costs
+€68
Depreciation
+€28,856
Other operating charges
+€11,538
Other operating items
+€13,954
Financial income
-€35,890
Financial charges
-€42,927
Taxes
+€7,806
Result 2025
€11,898
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.
From operations
-€112,784
Investment
-€26.6m
Financing
+€26.9m
Cash 2024
€19,671
From operations (derived)
-€112,784
Net result for the year
+€11,898
Depreciation
+€26,515
Smaller working-capital items
+€27,601
Receivables within one year
-€85,993
Other debts
-€92,806
Investment (derived)
-€26.6m
Investment in fixed assets (net)
-€26.8m
Current investments
+€200,000
Financing
+€26.9m
Debts after one year
+€9.5m
Contributions, distributions and other
+€17.4m
Cash 2025
€183,437
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,224,942 | €43,072,702 | +€26.8m | +165.5% |
| Fixed assets | 21/28 | €15,764,946 | €42,540,347 | +€26.8m | +169.8% |
| Tangible fixed assets | 22/27 | €1,792,816 | €1,646,380 | -€146,436 | -8.2% |
| Land and buildings | 22 | €1,672,895 | €1,646,380 | -€26,515 | -1.6% |
| Plant, machinery and equipment | 23 | €74,746 | - | -€74,746 | |
| Furniture and vehicles | 24 | €45,175 | - | -€45,175 | |
| Financial fixed assets | 28 | €13,972,130 | €40,893,967 | +€26.9m | +192.7% |
| Affiliated companies | 280/1 | €13,536,000 | €40,462,467 | +€26.9m | +198.9% |
| Participating interests | 280 | €13,536,000 | €40,462,467 | +€26.9m | +198.9% |
| Companies linked by participating interests | 282/3 | €436,000 | €431,500 | -€4,500 | -1.0% |
| Participating interests | 282 | €436,000 | €431,500 | -€4,500 | -1.0% |
| Other financial fixed assets | 284/8 | €130 | - | -€130 | |
| Amounts receivable and cash guarantees | 285/8 | €130 | - | -€130 | |
| Current assets | 29/58 | €459,997 | €532,355 | +€72,359 | +15.7% |
| Amounts receivable after more than one year | 29 | €158,290 | €205,631 | +€47,341 | +29.9% |
| Other amounts receivable | 291 | €158,290 | €205,631 | +€47,341 | +29.9% |
| Amounts receivable within one year | 40/41 | €41,933 | €127,926 | +€85,993 | +205.1% |
| Trade receivables | 40 | €4,190 | €81,620 | +€77,430 | +1848.0% |
| Other amounts receivable | 41 | €37,743 | €46,306 | +€8,563 | +22.7% |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Other investments | 51/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €19,671 | €183,437 | +€163,766 | +832.5% |
| Deferred charges and accrued income | 490/1 | €40,103 | €15,361 | -€24,742 | -61.7% |
| Total equity and liabilities | 10/49 | €16,224,942 | €43,072,702 | +€26.8m | +165.5% |
| Equity | 10/15 | €13,826,741 | €31,195,106 | +€17.4m | +125.6% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Revaluation surpluses | 12 | €8,173,533 | €25,530,000 | +€17.4m | +212.3% |
| Reserves | 13 | €5,148,592 | €5,164,224 | +€15,632 | +0.3% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €291,592 | €202,224 | -€89,368 | -30.6% |
| Distributable reserves | 133 | €4,757,000 | €4,862,000 | +€105,000 | +2.2% |
| Profit (loss) carried forward | 14 | €4,616 | €882 | -€3,734 | -80.9% |
| Provisions and deferred taxes | 16 | €69,071 | €66,193 | -€2,878 | -4.2% |
| Deferred taxes | 168 | €69,071 | €66,193 | -€2,878 | -4.2% |
| Amounts payable | 17/49 | €2,329,131 | €11,811,403 | +€9.5m | +407.1% |
| Amounts payable after more than one year | 17 | €1,884,938 | €11,406,938 | +€9.5m | +505.2% |
| Financial debts | 170/4 | €1,884,938 | €11,406,938 | +€9.5m | +505.2% |
| Credit institutions | 173 | €241,000 | €193,000 | -€48,000 | -19.9% |
| Other loans | 174 | €1,643,938 | €11,213,938 | +€9.6m | +582.1% |
| Amounts payable within one year | 42/48 | €378,948 | €307,519 | -€71,428 | -18.8% |
| Current portion of amounts payable after more than one year | 42 | €48,000 | €48,000 | = | 0.0% |
| Trade debts | 44 | €10,478 | €2,592 | -€7,886 | -75.3% |
| Suppliers | 440/4 | €10,478 | €2,592 | -€7,886 | -75.3% |
| Taxes, remuneration and social security | 45 | €27,664 | €56,927 | +€29,264 | +105.8% |
| Taxes | 450/3 | €27,664 | €56,927 | +€29,264 | +105.8% |
| Other amounts payable | 47/48 | €292,806 | €200,000 | -€92,806 | -31.7% |
| Accrued charges and deferred income | 492/3 | €65,245 | €96,946 | +€31,701 | +48.6% |
| Operating income | 70/76A | €123,568 | €102,927 | -€20,642 | -16.7% |
| Turnover | 70 | €116,058 | €81,821 | -€34,236 | -29.5% |
| Other operating income | 74 | €7,511 | €7,151 | -€359 | -4.8% |
| Non-recurring operating income | 76A | - | €13,954 | +€13,954 | |
| Operating charges | 60/66A | €136,236 | €94,595 | -€41,641 | -30.6% |
| Goods for resale, raw materials and consumables | 60 | €4,251 | €2,846 | -€1,405 | -33.1% |
| Purchases | 600/8 | €4,251 | €2,846 | -€1,405 | -33.1% |
| Services and other goods | 61 | €55,472 | €55,697 | +€225 | +0.4% |
| Remuneration, social security and pensions | 62 | €68 | - | -€68 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,371 | €26,515 | -€28,856 | -52.1% |
| Other operating charges | 640/8 | €21,074 | €9,537 | -€11,538 | -54.7% |
| Operating profit (loss) | 9901 | -€12,667 | €8,332 | +€20,999 | |
| Financial income | 75/76B | €180,358 | €144,468 | -€35,890 | -19.9% |
| Recurring financial income | 75 | €180,358 | €144,468 | -€35,890 | -19.9% |
| Income from financial fixed assets | 750 | €144,000 | - | -€144,000 | |
| Income from current assets | 751 | €36,299 | €14,917 | -€21,382 | -58.9% |
| Other financial income | 752/9 | €59 | €129,551 | +€129,492 | +218958.7% |
| Financial charges | 65/66B | €100,728 | €143,655 | +€42,927 | +42.6% |
| Recurring financial charges | 65 | €100,412 | €143,525 | +€43,114 | +42.9% |
| Debt charges | 650 | €99,993 | €143,102 | +€43,109 | +43.1% |
| Other financial charges | 652/9 | €419 | €424 | +€5 | +1.1% |
| Non-recurring financial charges | 66B | €316 | €130 | -€187 | -59.0% |
| Profit (loss) for the period before taxes | 9903 | €66,963 | €9,145 | -€57,817 | -86.3% |
| Transfer from deferred taxes | 780 | €2,878 | €2,878 | = | 0.0% |
| Income taxes | 67/77 | €7,931 | €125 | -€7,806 | -98.4% |
| Taxes | 670/3 | €7,931 | €125 | -€7,806 | -98.4% |
| Profit (loss) for the period | 9904 | €61,909 | €11,898 | -€50,011 | -80.8% |
| Transfer from tax-exempt reserves | 789 | €5,589 | €5,589 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €31,575 | - | -€31,575 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,923 | €17,487 | -€18,436 | -51.3% |
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 7 October 2026 via checked.be.