D2 Move: 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.
D2 Move
Largest movements
- Tangible fixed assets -€11,035
down €11,035 (-2.7%), from €401,757 to €390,722
of which Land and buildings: -€9,298
- Cash -€8,081
down €8,081 (-47.8%), from €16,923 to €8,842
mainly Debts after one year (-€17,819) and Investment in fixed assets (net) (-€7,549)
- Debts after one year -€17,819
down €17,819 (-4.7%), from €383,200 to €365,381
- Gross operating margin +€12,242
up €12,242 (+78.0%), from €15,691 to €27,933
- Depreciation +€1,522
up €1,522 (+8.8%), from €17,369 to €18,891
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 | €421,832 | €401,386 | -€20,446 | -4.8% |
| Formation expenses | 20 | €748 | €441 | -€307 | -41.0% |
| Fixed assets | 21/28 | €401,757 | €390,722 | -€11,035 | -2.7% |
| Tangible fixed assets | 22/27 | €401,757 | €390,722 | -€11,035 | -2.7% |
| Land and buildings | 22 | €391,947 | €382,649 | -€9,298 | -2.4% |
| Plant, machinery and equipment | 23 | €9,810 | €8,073 | -€1,737 | -17.7% |
| Current assets | 29/58 | €19,327 | €10,223 | -€9,104 | -47.1% |
| Amounts receivable within one year | 40/41 | €2,404 | €1,381 | -€1,023 | -42.6% |
| Trade receivables | 40 | €2,278 | €1,381 | -€897 | -39.4% |
| Other amounts receivable | 41 | €126 | - | -€126 | |
| Cash at bank and in hand | 54/58 | €16,923 | €8,842 | -€8,081 | -47.8% |
| Total equity and liabilities | 10/49 | €421,832 | €401,386 | -€20,446 | -4.8% |
| Equity | 10/15 | -€43,083 | -€46,521 | -€3,438 | -8.0% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,583 | -€50,021 | -€3,438 | -7.4% |
| Amounts payable | 17/49 | €464,915 | €447,907 | -€17,008 | -3.7% |
| Amounts payable after more than one year | 17 | €383,200 | €365,381 | -€17,819 | -4.7% |
| Financial debts | 170/4 | €383,200 | €365,381 | -€17,819 | -4.7% |
| Amounts payable within one year | 42/48 | €81,715 | €82,526 | +€811 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €17,297 | €17,818 | +€521 | +3.0% |
| Trade debts | 44 | €2,521 | €1,751 | -€770 | -30.5% |
| Suppliers | 440/4 | €2,521 | €1,751 | -€770 | -30.5% |
| Taxes, remuneration and social security | 45 | €939 | €2,002 | +€1,063 | +113.2% |
| Taxes | 450/3 | €939 | €2,002 | +€1,063 | +113.2% |
| Other amounts payable | 47/48 | €60,958 | €60,955 | -€3 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,369 | €18,891 | +€1,522 | +8.8% |
| Other operating charges | 640/8 | €680 | €730 | +€50 | +7.4% |
| Non-recurring operating charges | 66A | €13 | - | -€13 | |
| Gross operating margin | 9900 | €15,691 | €27,933 | +€12,242 | +78.0% |
| Operating profit (loss) | 9901 | -€2,371 | €8,312 | +€10,683 | |
| Financial charges | 65/66B | €11,984 | €11,750 | -€234 | -2.0% |
| Recurring financial charges | 65 | €11,984 | €11,750 | -€234 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,355 | -€3,438 | +€10,917 | +76.1% |
| Profit (loss) for the period | 9904 | -€14,355 | -€3,438 | +€10,917 | +76.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,355 | -€3,438 | +€10,917 | +76.1% |
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 10 October 2026 via checked.be.