D vision: 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.
D vision
Largest movements
- Receivables within one year -€24,825
down €24,825 (-34.4%), from €72,198 to €47,373
of which Trade receivables: -€40,000
- Tangible fixed assets -€11,281
down €11,281 (-2.7%), from €424,838 to €413,557
of which Land and buildings: -€15,376
- Cash +€5,651
up €5,651 (+297.5%), from €1,899 to €7,550
mainly Receivables within one year (+€24,825) and Depreciation (+€24,217)
- Profit (loss) carried forward -€23,193
down €23,193, from €5,673 to -€17,520
- Debts after one year -€18,014
down €18,014 (-5.5%), from €325,150 to €307,136
- Other debts +€6,320
up €6,320 (+43.1%), from €14,653 to €20,973
- Gross operating margin -€58,905
down €58,905 (-72.1%), from €81,719 to €22,815
- Taxes -€6,886
no longer reported in 2025 (was €6,886)
- Depreciation +€2,205
up €2,205 (+10.0%), from €22,013 to €24,217
- Other operating charges -€1,125
down €1,125 (-18.1%), from €6,211 to €5,086
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 | €500,183 | €469,442 | -€30,741 | -6.1% |
| Fixed assets | 21/28 | €424,838 | €413,557 | -€11,281 | -2.7% |
| Tangible fixed assets | 22/27 | €424,838 | €413,557 | -€11,281 | -2.7% |
| Land and buildings | 22 | €366,789 | €351,413 | -€15,376 | -4.2% |
| Furniture and vehicles | 24 | €24,897 | €21,658 | -€3,239 | -13.0% |
| Other tangible fixed assets | 26 | €33,152 | €40,486 | +€7,334 | +22.1% |
| Current assets | 29/58 | €75,345 | €55,885 | -€19,460 | -25.8% |
| Amounts receivable within one year | 40/41 | €72,198 | €47,373 | -€24,825 | -34.4% |
| Trade receivables | 40 | €71,644 | €31,644 | -€40,000 | -55.8% |
| Other amounts receivable | 41 | €554 | €15,729 | +€15,175 | +2738.4% |
| Cash at bank and in hand | 54/58 | €1,899 | €7,550 | +€5,651 | +297.5% |
| Deferred charges and accrued income | 490/1 | €1,248 | €962 | -€286 | -22.9% |
| Total equity and liabilities | 10/49 | €500,183 | €469,442 | -€30,741 | -6.1% |
| Equity | 10/15 | €135,214 | €112,021 | -€23,193 | -17.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €110,991 | €110,991 | = | 0.0% |
| Distributable reserves | 133 | €110,991 | €110,991 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,673 | -€17,520 | -€23,193 | |
| Amounts payable | 17/49 | €364,968 | €357,421 | -€7,548 | -2.1% |
| Amounts payable after more than one year | 17 | €325,150 | €307,136 | -€18,014 | -5.5% |
| Financial debts | 170/4 | €325,150 | €307,136 | -€18,014 | -5.5% |
| Amounts payable within one year | 42/48 | €38,568 | €46,024 | +€7,456 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €17,261 | €18,015 | +€754 | +4.4% |
| Financial debts | 43 | - | €455 | +€455 | |
| Credit institutions | 430/8 | - | €455 | +€455 | |
| Trade debts | 44 | €74 | - | -€74 | |
| Suppliers | 440/4 | €74 | - | -€74 | |
| Taxes, remuneration and social security | 45 | €6,580 | €6,580 | = | 0.0% |
| Taxes | 450/3 | €6,580 | €6,580 | = | 0.0% |
| Other amounts payable | 47/48 | €14,653 | €20,973 | +€6,320 | +43.1% |
| Accrued charges and deferred income | 492/3 | €1,250 | €4,261 | +€3,011 | +240.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,013 | €24,217 | +€2,205 | +10.0% |
| Other operating charges | 640/8 | €6,211 | €5,086 | -€1,125 | -18.1% |
| Gross operating margin | 9900 | €81,719 | €22,815 | -€58,905 | -72.1% |
| Operating profit (loss) | 9901 | €53,495 | -€6,489 | -€59,985 | |
| Financial income | 75/76B | €53 | €63 | +€9 | +17.7% |
| Recurring financial income | 75 | €53 | €63 | +€9 | +17.7% |
| Financial charges | 65/66B | €17,198 | €16,766 | -€431 | -2.5% |
| Recurring financial charges | 65 | €17,198 | €16,766 | -€431 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | €36,351 | -€23,193 | -€59,544 | |
| Income taxes | 67/77 | €6,886 | - | -€6,886 | |
| Profit (loss) for the period | 9904 | €29,465 | -€23,193 | -€52,658 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,465 | -€23,193 | -€52,658 |
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 2 October 2026 via checked.be.