D21 FINANCE: 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.
D21 FINANCE
Largest movements
- Cash -€49,769
down €49,769 (-65.5%), from €75,974 to €26,205
mainly Other debts (-€74,734) and Tax, wage and social debts (-€20,113)
- Deferred charges and accrued income +€14,841
up €14,841 (+668%), from €2,222 to €17,063
- Tangible fixed assets -€13,897
down €13,897 (-6.6%), from €209,041 to €195,144
of which Land and buildings: -€7,279
- Receivables within one year -€3,342
down €3,342 (-83.6%), from €4,000 to €658
of which Trade receivables: -€4,000
- Other debts -€74,734
down €74,734 (-70.1%), from €106,663 to €31,929
- Reserves +€50,524
up €50,524 (+2,716%), from €1,860 to €52,384
of which Distributable reserves: +€50,524
- Tax, wage and social debts -€20,113
down €20,113 (-82.7%), from €24,329 to €4,216
of which Taxes: -€22,556
- Debts after one year -€10,371
down €10,371 (-8.7%), from €119,451 to €109,080
- Current portion of long-term debt +€9,161
up €9,161 (+60.0%), from €15,276 to €24,437
- Staff costs +€10,539
up €10,539 (+60.2%), from €17,509 to €28,048
- Gross operating margin -€8,091
down €8,091 (-6.3%), from €127,425 to €119,335
- Taxes -€4,626
down €4,626 (-19.2%), from €24,059 to €19,432
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 | €296,244 | €244,070 | -€52,175 | -17.6% |
| Fixed assets | 21/28 | €214,041 | €200,144 | -€13,897 | -6.5% |
| Tangible fixed assets | 22/27 | €209,041 | €195,144 | -€13,897 | -6.6% |
| Land and buildings | 22 | €195,992 | €188,713 | -€7,279 | -3.7% |
| Plant, machinery and equipment | 23 | €3,684 | €2,260 | -€1,424 | -38.7% |
| Furniture and vehicles | 24 | €9,366 | €4,171 | -€5,194 | -55.5% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €82,203 | €43,925 | -€38,277 | -46.6% |
| Amounts receivable within one year | 40/41 | €4,000 | €658 | -€3,342 | -83.6% |
| Trade receivables | 40 | €4,000 | €0 | -€4,000 | -100% |
| Other amounts receivable | 41 | - | €658 | +€658 | |
| Current investments | 50/53 | €7 | €0 | -€7 | -100% |
| Cash at bank and in hand | 54/58 | €75,974 | €26,205 | -€49,769 | -65.5% |
| Deferred charges and accrued income | 490/1 | €2,222 | €17,063 | +€14,841 | +668% |
| Total equity and liabilities | 10/49 | €296,244 | €244,070 | -€52,175 | -17.6% |
| Equity | 10/15 | €20,460 | €70,984 | +€50,524 | +247% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €52,384 | +€50,524 | +2,716% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €50,524 | +€50,524 | |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €275,784 | €173,086 | -€102,698 | -37.2% |
| Amounts payable after more than one year | 17 | €119,451 | €109,080 | -€10,371 | -8.7% |
| Financial debts | 170/4 | €119,451 | €109,080 | -€10,371 | -8.7% |
| Amounts payable within one year | 42/48 | €156,334 | €64,006 | -€92,328 | -59.1% |
| Current portion of amounts payable after more than one year | 42 | €15,276 | €24,437 | +€9,161 | +60.0% |
| Financial debts | 43 | €9,378 | €699 | -€8,679 | -92.6% |
| Credit institutions | 430/8 | €9,378 | €699 | -€8,679 | -92.6% |
| Trade debts | 44 | €688 | €2,725 | +€2,037 | +296% |
| Suppliers | 440/4 | €688 | €2,725 | +€2,037 | +296% |
| Taxes, remuneration and social security | 45 | €24,329 | €4,216 | -€20,113 | -82.7% |
| Taxes | 450/3 | €22,556 | €0 | -€22,556 | -100% |
| Remuneration and social security | 454/9 | €1,773 | €4,216 | +€2,444 | +138% |
| Other amounts payable | 47/48 | €106,663 | €31,929 | -€74,734 | -70.1% |
| Non-recurring operating income | 76A | - | €1,349 | +€1,349 | |
| Remuneration, social security and pensions | 62 | €17,509 | €28,048 | +€10,539 | +60.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,147 | €13,897 | -€250 | -1.8% |
| Other operating charges | 640/8 | €3,773 | €4,557 | +€784 | +20.8% |
| Gross operating margin | 9900 | €127,425 | €119,335 | -€8,091 | -6.3% |
| Operating profit (loss) | 9901 | €91,995 | €72,832 | -€19,163 | -20.8% |
| Financial income | 75/76B | €139 | €301 | +€162 | +117% |
| Recurring financial income | 75 | €139 | €301 | +€162 | +117% |
| Financial charges | 65/66B | €4,308 | €3,177 | -€1,131 | -26.3% |
| Recurring financial charges | 65 | €4,308 | €3,177 | -€1,131 | -26.3% |
| Profit (loss) for the period before taxes | 9903 | €87,826 | €69,956 | -€17,870 | -20.3% |
| Income taxes | 67/77 | €24,059 | €19,432 | -€4,626 | -19.2% |
| Profit (loss) for the period | 9904 | €63,767 | €50,524 | -€13,243 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €63,767 | €50,524 | -€13,243 | -20.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.