D & V ACTIVITY: 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 & V ACTIVITY
Largest movements
- Receivables within one year -€40,361
down €40,361 (-46.4%), from €87,056 to €46,695
of which Other amounts receivable: -€38,190
- Tangible fixed assets -€5,119
down €5,119 (-37.5%), from €13,653 to €8,534
of which Other tangible fixed assets: -€3,303
- Cash +€2,542
up €2,542 (+30.3%), from €8,386 to €10,929
mainly Receivables within one year (+€40,361) and Short-term financial debts (+€12,403)
- Tax, wage and social debts -€36,528
down €36,528 (-54.5%), from €66,989 to €30,461
of which Taxes: -€34,799
- Other debts -€18,600
no longer reported in 2025 (was €18,600)
- Short-term financial debts +€12,403
up €12,403 (+55.5%), from €22,359 to €34,762
of which Other loans: +€34,762
- Trade debts +€8,446
up €8,446 (+38.9%), from €21,695 to €30,141
- Profit (loss) carried forward -€7,530
down €7,530 (-50.9%), from -€14,799 to -€22,329
- Gross operating margin +€24,662
up €24,662 (+168%), from €14,709 to €39,371
- Taxes -€9,395
down €9,395, from €4,902 to -€4,494
- Staff costs +€3,834
up €3,834 (+10.8%), from €35,623 to €39,456
- Other operating charges -€2,999
down €2,999 (-51.9%), from €5,775 to €2,776
- Financial charges +€595
up €595 (+17.2%), from €3,462 to €4,057
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 | €114,844 | €73,036 | -€41,808 | -36.4% |
| Fixed assets | 21/28 | €13,653 | €8,534 | -€5,119 | -37.5% |
| Tangible fixed assets | 22/27 | €13,653 | €8,534 | -€5,119 | -37.5% |
| Plant, machinery and equipment | 23 | €2,125 | €1,099 | -€1,026 | -48.3% |
| Furniture and vehicles | 24 | €1,755 | €965 | -€790 | -45.0% |
| Other tangible fixed assets | 26 | €9,773 | €6,470 | -€3,303 | -33.8% |
| Current assets | 29/58 | €101,191 | €64,502 | -€36,689 | -36.3% |
| Stocks and contracts in progress | 3 | €5,748 | €5,836 | +€88 | +1.5% |
| Stocks | 30/36 | €5,748 | €5,836 | +€88 | +1.5% |
| Amounts receivable within one year | 40/41 | €87,056 | €46,695 | -€40,361 | -46.4% |
| Trade receivables | 40 | €10,118 | €7,947 | -€2,171 | -21.5% |
| Other amounts receivable | 41 | €76,938 | €38,748 | -€38,190 | -49.6% |
| Cash at bank and in hand | 54/58 | €8,386 | €10,929 | +€2,542 | +30.3% |
| Deferred charges and accrued income | 490/1 | - | €1,041 | +€1,041 | |
| Total equity and liabilities | 10/49 | €114,844 | €73,036 | -€41,808 | -36.4% |
| Equity | 10/15 | -€14,799 | -€22,329 | -€7,530 | -50.9% |
| Profit (loss) carried forward | 14 | -€14,799 | -€22,329 | -€7,530 | -50.9% |
| Amounts payable | 17/49 | €129,643 | €95,365 | -€34,278 | -26.4% |
| Amounts payable within one year | 42/48 | €129,643 | €95,365 | -€34,278 | -26.4% |
| Financial debts | 43 | €22,359 | €34,762 | +€12,403 | +55.5% |
| Credit institutions | 430/8 | €22,359 | - | -€22,359 | |
| Other loans | 439 | - | €34,762 | +€34,762 | |
| Trade debts | 44 | €21,695 | €30,141 | +€8,446 | +38.9% |
| Suppliers | 440/4 | €21,695 | €30,141 | +€8,446 | +38.9% |
| Taxes, remuneration and social security | 45 | €66,989 | €30,461 | -€36,528 | -54.5% |
| Taxes | 450/3 | €49,804 | €15,005 | -€34,799 | -69.9% |
| Remuneration and social security | 454/9 | €17,185 | €15,456 | -€1,729 | -10.1% |
| Other amounts payable | 47/48 | €18,600 | - | -€18,600 | |
| Remuneration, social security and pensions | 62 | €35,623 | €39,456 | +€3,834 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,420 | €5,119 | -€301 | -5.6% |
| Other operating charges | 640/8 | €5,775 | €2,776 | -€2,999 | -51.9% |
| Gross operating margin | 9900 | €14,709 | €39,371 | +€24,662 | +168% |
| Operating profit (loss) | 9901 | -€32,110 | -€7,981 | +€24,128 | +75.1% |
| Financial income | 75/76B | €6 | €15 | +€9 | +166% |
| Recurring financial income | 75 | €6 | €15 | +€9 | +166% |
| Financial charges | 65/66B | €3,462 | €4,057 | +€595 | +17.2% |
| Recurring financial charges | 65 | €3,462 | €4,057 | +€595 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | -€35,566 | -€12,024 | +€23,543 | +66.2% |
| Income taxes | 67/77 | €4,902 | -€4,494 | -€9,395 | |
| Profit (loss) for the period | 9904 | -€40,468 | -€7,530 | +€32,938 | +81.4% |
| Transfer from tax-exempt reserves | 789 | €223 | - | -€223 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,245 | -€7,530 | +€32,715 | +81.3% |
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.