D2 BENELUX: 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.
D2 BENELUX
Largest movements
- Receivables within one year +€29,202
up €29,202 (+194.0%), from €15,056 to €44,258
of which Other amounts receivable: +€29,033
- Tangible fixed assets -€2,598
down €2,598 (-7.6%), from €34,358 to €31,760
- Deferred charges and accrued income +€2,023
new in 2025: €2,023
- Cash -€966
down €966 (-97.5%), from €991 to €25
mainly Receivables within one year (-€29,202) and Net result for the year (-€11,883)
- Advances received +€36,000
up €36,000 (+50.0%), from €72,000 to €108,000
- Profit (loss) carried forward -€11,883
down €11,883 (-9.0%), from -€131,668 to -€143,551
- Trade debts +€3,529
up €3,529 (+129.2%), from €2,732 to €6,261
- Gross operating margin -€2,467
down €2,467 (-292.3%), from -€844 to -€3,311
- Depreciation -€1,021
down €1,021 (-28.2%), from €3,619 to €2,598
- Other operating charges +€552
up €552 (+10.8%), from €5,089 to €5,641
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 | €52,325 | €79,986 | +€27,661 | +52.9% |
| Fixed assets | 21/28 | €36,278 | €33,680 | -€2,598 | -7.2% |
| Tangible fixed assets | 22/27 | €34,358 | €31,760 | -€2,598 | -7.6% |
| Land and buildings | 22 | €32,752 | €31,760 | -€992 | -3.0% |
| Plant, machinery and equipment | 23 | €381 | - | -€381 | |
| Furniture and vehicles | 24 | €1,225 | - | -€1,225 | |
| Financial fixed assets | 28 | €1,920 | €1,920 | = | 0.0% |
| Current assets | 29/58 | €16,047 | €46,306 | +€30,259 | +188.6% |
| Amounts receivable within one year | 40/41 | €15,056 | €44,258 | +€29,202 | +194.0% |
| Trade receivables | 40 | €788 | €957 | +€169 | +21.4% |
| Other amounts receivable | 41 | €14,268 | €43,301 | +€29,033 | +203.5% |
| Cash at bank and in hand | 54/58 | €991 | €25 | -€966 | -97.5% |
| Deferred charges and accrued income | 490/1 | - | €2,023 | +€2,023 | |
| Total equity and liabilities | 10/49 | €52,325 | €79,986 | +€27,661 | +52.9% |
| Equity | 10/15 | -€24,212 | -€36,095 | -€11,883 | -49.1% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €32,456 | €32,456 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €24,956 | €24,956 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€131,668 | -€143,551 | -€11,883 | -9.0% |
| Amounts payable | 17/49 | €76,537 | €116,081 | +€39,544 | +51.7% |
| Amounts payable within one year | 42/48 | €76,537 | €116,081 | +€39,544 | +51.7% |
| Trade debts | 44 | €2,732 | €6,261 | +€3,529 | +129.2% |
| Suppliers | 440/4 | €2,732 | €6,261 | +€3,529 | +129.2% |
| Advances received on contracts in progress | 46 | €72,000 | €108,000 | +€36,000 | +50.0% |
| Taxes, remuneration and social security | 45 | €245 | €260 | +€15 | +6.1% |
| Taxes | 450/3 | €245 | €260 | +€15 | +6.1% |
| Other amounts payable | 47/48 | €1,560 | €1,560 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,619 | €2,598 | -€1,021 | -28.2% |
| Other operating charges | 640/8 | €5,089 | €5,641 | +€552 | +10.8% |
| Gross operating margin | 9900 | -€844 | -€3,311 | -€2,467 | -292.3% |
| Operating profit (loss) | 9901 | -€9,552 | -€11,550 | -€1,998 | -20.9% |
| Financial charges | 65/66B | €73 | €53 | -€20 | -27.4% |
| Recurring financial charges | 65 | €73 | €53 | -€20 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,625 | -€11,603 | -€1,978 | -20.6% |
| Income taxes | 67/77 | €302 | €280 | -€22 | -7.3% |
| Profit (loss) for the period | 9904 | -€9,927 | -€11,883 | -€1,956 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,927 | -€11,883 | -€1,956 | -19.7% |
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 7 October 2026 via checked.be.