D TO I: 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 TO I
Largest movements
- Receivables within one year +€48,327
up €48,327 (+14.3%), from €337,596 to €385,923
of which Other amounts receivable: +€36,205
- Cash -€34,518
down €34,518 (-63.6%), from €54,240 to €19,722
mainly Receivables within one year (-€48,327) and Tax, wage and social debts (-€1,561)
- Reserves +€14,645
up €14,645 (+4.0%), from €363,271 to €377,916
of which Distributable reserves: +€14,645
- Gross operating margin -€64,260
down €64,260 (-68.6%), from €93,662 to €29,402
- Taxes -€10,075
down €10,075 (-53.7%), from €18,761 to €8,686
- Staff costs +€1,025
new in 2025: €1,025
- Depreciation -€940
down €940 (-23.1%), from €4,070 to €3,130
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 | €399,948 | €412,138 | +€12,190 | +3.0% |
| Fixed assets | 21/28 | €8,112 | €6,494 | -€1,618 | -19.9% |
| Tangible fixed assets | 22/27 | €8,112 | €6,494 | -€1,618 | -19.9% |
| Furniture and vehicles | 24 | €8,112 | €6,494 | -€1,618 | -19.9% |
| Current assets | 29/58 | €391,836 | €405,644 | +€13,809 | +3.5% |
| Amounts receivable within one year | 40/41 | €337,596 | €385,923 | +€48,327 | +14.3% |
| Trade receivables | 40 | €9,981 | €22,103 | +€12,122 | +121% |
| Other amounts receivable | 41 | €327,616 | €363,820 | +€36,205 | +11.1% |
| Cash at bank and in hand | 54/58 | €54,240 | €19,722 | -€34,518 | -63.6% |
| Total equity and liabilities | 10/49 | €399,948 | €412,138 | +€12,190 | +3.0% |
| Equity | 10/15 | €369,471 | €384,116 | +€14,645 | +4.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €363,271 | €377,916 | +€14,645 | +4.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €361,411 | €376,056 | +€14,645 | +4.1% |
| Amounts payable | 17/49 | €30,476 | €28,022 | -€2,454 | -8.1% |
| Amounts payable within one year | 42/48 | €30,476 | €28,022 | -€2,454 | -8.1% |
| Trade debts | 44 | €11,715 | €10,822 | -€893 | -7.6% |
| Suppliers | 440/4 | €11,715 | €10,822 | -€893 | -7.6% |
| Taxes, remuneration and social security | 45 | €18,761 | €17,200 | -€1,561 | -8.3% |
| Taxes | 450/3 | €18,761 | €17,200 | -€1,561 | -8.3% |
| Remuneration, social security and pensions | 62 | - | €1,025 | +€1,025 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,070 | €3,130 | -€940 | -23.1% |
| Other operating charges | 640/8 | €1,868 | €1,409 | -€460 | -24.6% |
| Non-recurring operating charges | 66A | €2,199 | €271 | -€1,928 | -87.7% |
| Gross operating margin | 9900 | €93,662 | €29,402 | -€64,260 | -68.6% |
| Operating profit (loss) | 9901 | €85,524 | €23,568 | -€61,957 | -72.4% |
| Financial charges | 65/66B | €353 | €237 | -€116 | -32.9% |
| Recurring financial charges | 65 | €353 | €237 | -€116 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | €85,171 | €23,330 | -€61,841 | -72.6% |
| Income taxes | 67/77 | €18,761 | €8,686 | -€10,075 | -53.7% |
| Profit (loss) for the period | 9904 | €66,410 | €14,645 | -€51,765 | -77.9% |
| Profit (loss) for the period to be appropriated | 9905 | €66,410 | €14,645 | -€51,765 | -77.9% |
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 28 October 2026 via checked.be.