D+TB: 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+TB
Largest movements
- Current investments -€345,000
down €345,000 (-76.5%), from €450,825 to €105,825
- Receivables within one year +€241,377
up €241,377 (+39.1%), from €616,818 to €858,195
of which Trade receivables: +€263,261
- Cash +€64,456
up €64,456 (+24.9%), from €258,426 to €322,882
mainly Net result for the year (+€701,423) and Current investments (+€345,000)
- Tangible fixed assets -€49,107
down €49,107 (-84.7%), from €57,994 to €8,887
of which Land and buildings: -€33,034
- Profit (loss) carried forward +€701,423
up €701,423 (+15,891%), from €4,414 to €705,837
- Other debts -€400,847
down €400,847 (-63.1%), from €635,000 to €234,153
- Short-term financial debts -€389,070
down €389,070 (-91.8%), from €423,702 to €34,632
- Trade debts -€17,613
down €17,613 (-6.7%), from €264,247 to €246,633
- Tax, wage and social debts +€15,140
up €15,140 (+37.1%), from €40,823 to €55,963
of which Remuneration and social security: +€10,709
- Gross operating margin +€156,310
up €156,310 (+12.6%), from €1.2m to €1.4m
- Staff costs +€40,833
up €40,833 (+11.3%), from €360,683 to €401,516
- Taxes +€19,703
up €19,703 (+9.1%), from €216,774 to €236,477
- Financial income -€15,353
down €15,353 (-68.0%), from €22,581 to €7,229
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 | €1,447,092 | €1,356,125 | -€90,968 | -6.3% |
| Fixed assets | 21/28 | €85,573 | €35,812 | -€49,761 | -58.1% |
| Intangible fixed assets | 21 | €1,831 | €1,177 | -€654 | -35.7% |
| Tangible fixed assets | 22/27 | €57,994 | €8,887 | -€49,107 | -84.7% |
| Land and buildings | 22 | €33,034 | €0 | -€33,034 | -100% |
| Plant, machinery and equipment | 23 | €7,456 | €0 | -€7,456 | -100% |
| Furniture and vehicles | 24 | €17,504 | €8,887 | -€8,617 | -49.2% |
| Financial fixed assets | 28 | €25,748 | €25,748 | = | 0.0% |
| Current assets | 29/58 | €1,361,519 | €1,320,312 | -€41,207 | -3.0% |
| Amounts receivable within one year | 40/41 | €616,818 | €858,195 | +€241,377 | +39.1% |
| Trade receivables | 40 | €570,314 | €833,575 | +€263,261 | +46.2% |
| Other amounts receivable | 41 | €46,504 | €24,620 | -€21,885 | -47.1% |
| Current investments | 50/53 | €450,825 | €105,825 | -€345,000 | -76.5% |
| Cash at bank and in hand | 54/58 | €258,426 | €322,882 | +€64,456 | +24.9% |
| Deferred charges and accrued income | 490/1 | €35,450 | €33,411 | -€2,039 | -5.8% |
| Total equity and liabilities | 10/49 | €1,447,092 | €1,356,125 | -€90,968 | -6.3% |
| Equity | 10/15 | €83,321 | €784,744 | +€701,423 | +842% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €60,307 | €60,307 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €22,807 | €22,807 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,414 | €705,837 | +€701,423 | +15,891% |
| Amounts payable | 17/49 | €1,363,772 | €571,381 | -€792,390 | -58.1% |
| Amounts payable within one year | 42/48 | €1,363,772 | €571,381 | -€792,390 | -58.1% |
| Financial debts | 43 | €423,702 | €34,632 | -€389,070 | -91.8% |
| Credit institutions | 430/8 | €423,702 | €34,632 | -€389,070 | -91.8% |
| Trade debts | 44 | €264,247 | €246,633 | -€17,613 | -6.7% |
| Suppliers | 440/4 | €264,247 | €246,633 | -€17,613 | -6.7% |
| Taxes, remuneration and social security | 45 | €40,823 | €55,963 | +€15,140 | +37.1% |
| Taxes | 450/3 | - | €4,431 | +€4,431 | |
| Remuneration and social security | 454/9 | €40,823 | €51,531 | +€10,709 | +26.2% |
| Other amounts payable | 47/48 | €635,000 | €234,153 | -€400,847 | -63.1% |
| Remuneration, social security and pensions | 62 | €360,683 | €401,516 | +€40,833 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,715 | €11,591 | -€10,124 | -46.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €707 | +€707 | |
| Other operating charges | 640/8 | €7,809 | €989 | -€6,819 | -87.3% |
| Non-recurring operating charges | 66A | - | €34,718 | +€34,718 | |
| Gross operating margin | 9900 | €1,238,590 | €1,394,899 | +€156,310 | +12.6% |
| Operating profit (loss) | 9901 | €848,383 | €945,379 | +€96,996 | +11.4% |
| Financial income | 75/76B | €22,581 | €7,229 | -€15,353 | -68.0% |
| Recurring financial income | 75 | €22,581 | €7,229 | -€15,353 | -68.0% |
| Financial charges | 65/66B | €14,824 | €14,709 | -€115 | -0.8% |
| Recurring financial charges | 65 | €14,824 | €14,709 | -€115 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €856,141 | €937,899 | +€81,758 | +9.5% |
| Income taxes | 67/77 | €216,774 | €236,477 | +€19,703 | +9.1% |
| Profit (loss) for the period | 9904 | €639,367 | €701,423 | +€62,056 | +9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €639,367 | €701,423 | +€62,056 | +9.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.