D-Warehouse: 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-Warehouse
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts -€14,891
no longer reported in 2025 (was €14,891)
- Taxes +€2,090
up €2,090 (+146.6%), from €1,425 to €3,515
- Gross operating margin -€1,257
down €1,257 (-47.1%), from -€2,667 to -€3,925
- Financial income -€1,036
down €1,036 (-5.9%), from €17,422 to €16,386
- Depreciation -€137
down €137 (-4.9%), from €2,786 to €2,649
- Financial charges -€44
down €44 (-19.8%), from €223 to €179
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 | €696,092 | €685,082 | -€11,010 | -1.6% |
| Fixed assets | 21/28 | €123,479 | €120,829 | -€2,649 | -2.1% |
| Tangible fixed assets | 22/27 | €123,479 | €120,829 | -€2,649 | -2.1% |
| Land and buildings | 22 | €123,479 | €120,829 | -€2,649 | -2.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €572,614 | €564,253 | -€8,360 | -1.5% |
| Amounts receivable within one year | 40/41 | €556,924 | €553,017 | -€3,907 | -0.7% |
| Other amounts receivable | 41 | €556,924 | €553,017 | -€3,907 | -0.7% |
| Cash at bank and in hand | 54/58 | €15,690 | €11,236 | -€4,454 | -28.4% |
| Total equity and liabilities | 10/49 | €696,092 | €685,082 | -€11,010 | -1.6% |
| Equity | 10/15 | €679,263 | €680,924 | +€1,661 | +0.2% |
| Contributions | 10/11 | €99,120 | €99,120 | = | 0.0% |
| Capital | 10 | €99,120 | €99,120 | = | 0.0% |
| Issued capital | 100 | €99,120 | €99,120 | = | 0.0% |
| Reserves | 13 | €580,143 | €581,804 | +€1,661 | +0.3% |
| Non-distributable reserves | 130/1 | €9,912 | €9,912 | = | 0.0% |
| Legal reserve | 130 | €9,912 | €9,912 | = | 0.0% |
| Tax-exempt reserves | 132 | €445,171 | €445,171 | = | 0.0% |
| Distributable reserves | 133 | €125,060 | €126,720 | +€1,661 | +1.3% |
| Amounts payable | 17/49 | €16,829 | €4,159 | -€12,670 | -75.3% |
| Amounts payable within one year | 42/48 | €16,829 | €4,159 | -€12,670 | -75.3% |
| Trade debts | 44 | €513 | €644 | +€130 | +25.4% |
| Suppliers | 440/4 | €513 | €644 | +€130 | +25.4% |
| Taxes, remuneration and social security | 45 | €1,425 | €3,515 | +€2,090 | +146.6% |
| Taxes | 450/3 | €1,425 | €3,515 | +€2,090 | +146.6% |
| Other amounts payable | 47/48 | €14,891 | - | -€14,891 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,786 | €2,649 | -€137 | -4.9% |
| Other operating charges | 640/8 | €4,443 | €4,457 | +€14 | +0.3% |
| Gross operating margin | 9900 | -€2,667 | -€3,925 | -€1,257 | -47.1% |
| Operating profit (loss) | 9901 | -€9,896 | -€11,031 | -€1,134 | -11.5% |
| Financial income | 75/76B | €17,422 | €16,386 | -€1,036 | -5.9% |
| Recurring financial income | 75 | €17,422 | €16,386 | -€1,036 | -5.9% |
| Financial charges | 65/66B | €223 | €179 | -€44 | -19.8% |
| Recurring financial charges | 65 | €223 | €179 | -€44 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €7,302 | €5,176 | -€2,126 | -29.1% |
| Income taxes | 67/77 | €1,425 | €3,515 | +€2,090 | +146.6% |
| Profit (loss) for the period | 9904 | €5,877 | €1,661 | -€4,216 | -71.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,877 | €1,661 | -€4,216 | -71.7% |
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 29 September 2026 via checked.be.