D.T.O.: 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.T.O.
Largest movements
- Receivables within one year +€679,120
up €679,120 (+137.9%), from €492,408 to €1.2m
of which Trade receivables: +€681,565
- Cash -€70,036
down €70,036 (-27.7%), from €252,930 to €182,894
mainly Receivables within one year (-€679,120) and Current portion of long-term debt (-€544)
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Trade debts +€271,133
up €271,133 (+126.3%), from €214,619 to €485,752
- Other debts +€120,239
up €120,239 (+72.9%), from €164,866 to €285,105
- Profit (loss) carried forward +€99,583
up €99,583 (+669.3%), from €14,880 to €114,463
- Tax, wage and social debts +€54,570
up €54,570 (+117.4%), from €46,494 to €101,064
of which Taxes: +€36,816
- Gross operating margin +€103,048
up €103,048 (+25.8%), from €400,175 to €503,223
- Staff costs +€61,957
up €61,957 (+19.2%), from €323,076 to €385,033
- Other operating charges -€57,135
down €57,135 (-97.6%), from €58,552 to €1,418
- Financial income +€53,473
up €53,473 (+234.2%), from €22,831 to €76,304
- Taxes +€37,750
up €37,750 (+2358.1%), from €1,601 to €39,351
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 | €841,087 | €1,385,724 | +€544,636 | +64.8% |
| Fixed assets | 21/28 | €28,874 | €20,015 | -€8,859 | -30.7% |
| Intangible fixed assets | 21 | €11,746 | €8,457 | -€3,289 | -28.0% |
| Tangible fixed assets | 22/27 | €11,079 | €5,508 | -€5,571 | -50.3% |
| Furniture and vehicles | 24 | €11,079 | €5,508 | -€5,571 | -50.3% |
| Financial fixed assets | 28 | €6,050 | €6,050 | = | 0.0% |
| Current assets | 29/58 | €812,213 | €1,365,709 | +€553,496 | +68.1% |
| Amounts receivable within one year | 40/41 | €492,408 | €1,171,528 | +€679,120 | +137.9% |
| Trade receivables | 40 | €484,440 | €1,166,005 | +€681,565 | +140.7% |
| Other amounts receivable | 41 | €7,968 | €5,523 | -€2,445 | -30.7% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €252,930 | €182,894 | -€70,036 | -27.7% |
| Deferred charges and accrued income | 490/1 | €16,876 | €11,287 | -€5,589 | -33.1% |
| Total equity and liabilities | 10/49 | €841,087 | €1,385,724 | +€544,636 | +64.8% |
| Equity | 10/15 | €164,220 | €263,803 | +€99,583 | +60.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €130,740 | €130,740 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €128,880 | €128,880 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,880 | €114,463 | +€99,583 | +669.3% |
| Amounts payable | 17/49 | €676,868 | €1,121,921 | +€445,053 | +65.8% |
| Amounts payable within one year | 42/48 | €676,523 | €1,121,921 | +€445,398 | +65.8% |
| Current portion of amounts payable after more than one year | 42 | €544 | - | -€544 | |
| Financial debts | 43 | €250,000 | €250,000 | = | 0.0% |
| Credit institutions | 430/8 | €250,000 | €250,000 | = | 0.0% |
| Trade debts | 44 | €214,619 | €485,752 | +€271,133 | +126.3% |
| Suppliers | 440/4 | €214,619 | €485,752 | +€271,133 | +126.3% |
| Taxes, remuneration and social security | 45 | €46,494 | €101,064 | +€54,570 | +117.4% |
| Taxes | 450/3 | €1,651 | €38,467 | +€36,816 | +2230.1% |
| Remuneration and social security | 454/9 | €44,843 | €62,597 | +€17,754 | +39.6% |
| Other amounts payable | 47/48 | €164,866 | €285,105 | +€120,239 | +72.9% |
| Accrued charges and deferred income | 492/3 | €345 | - | -€345 | |
| Remuneration, social security and pensions | 62 | €323,076 | €385,033 | +€61,957 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,147 | €8,859 | -€3,288 | -27.1% |
| Other operating charges | 640/8 | €58,552 | €1,418 | -€57,135 | -97.6% |
| Gross operating margin | 9900 | €400,175 | €503,223 | +€103,048 | +25.8% |
| Operating profit (loss) | 9901 | €6,400 | €107,913 | +€101,513 | +1586.3% |
| Financial income | 75/76B | €22,831 | €76,304 | +€53,473 | +234.2% |
| Recurring financial income | 75 | €22,831 | €76,304 | +€53,473 | +234.2% |
| Financial charges | 65/66B | €38,546 | €45,282 | +€6,736 | +17.5% |
| Recurring financial charges | 65 | €38,546 | €45,282 | +€6,736 | +17.5% |
| Profit (loss) for the period before taxes | 9903 | -€9,316 | €138,934 | +€148,250 | |
| Income taxes | 67/77 | €1,601 | €39,351 | +€37,750 | +2358.1% |
| Profit (loss) for the period | 9904 | -€10,917 | €99,583 | +€110,501 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,917 | €99,583 | +€110,501 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.