D23i: 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.
D23i
Largest movements
- Cash +€426,482
up €426,482 (+31829.7%), from €1,340 to €427,822
mainly Debts after one year (+€700,000) and Trade debts (+€68,975)
- Stocks and contracts +€259,411
up €259,411 (+60.5%), from €428,801 to €688,212
- Financial fixed assets +€52,500
new in 2025: €52,500
- Debts after one year +€700,000
new in 2025: €700,000
- Trade debts +€68,975
up €68,975 (+45983.0%), from €150 to €69,125
- Profit (loss) carried forward -€49,016
down €49,016 (-342.5%), from -€14,312 to -€63,328
- Gross operating margin -€42,746
down €42,746 (-3614.8%), from -€1,183 to -€43,928
- Financial charges +€2,731
up €2,731 (+6498.8%), from €42 to €2,773
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 | €444,409 | €1,173,209 | +€728,800 | +164.0% |
| Fixed assets | 21/28 | - | €53,297 | +€53,297 | |
| Tangible fixed assets | 22/27 | - | €797 | +€797 | |
| Furniture and vehicles | 24 | - | €797 | +€797 | |
| Financial fixed assets | 28 | - | €52,500 | +€52,500 | |
| Current assets | 29/58 | €444,409 | €1,119,913 | +€675,503 | +152.0% |
| Stocks and contracts in progress | 3 | €428,801 | €688,212 | +€259,411 | +60.5% |
| Stocks | 30/36 | €428,801 | €688,212 | +€259,411 | +60.5% |
| Amounts receivable within one year | 40/41 | €14,268 | €3,878 | -€10,390 | -72.8% |
| Other amounts receivable | 41 | €14,268 | €3,878 | -€10,390 | -72.8% |
| Cash at bank and in hand | 54/58 | €1,340 | €427,822 | +€426,482 | +31829.7% |
| Total equity and liabilities | 10/49 | €444,409 | €1,173,209 | +€728,800 | +164.0% |
| Equity | 10/15 | -€7,712 | -€56,728 | -€49,016 | -635.5% |
| Contributions | 10/11 | €6,600 | €6,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,312 | -€63,328 | -€49,016 | -342.5% |
| Amounts payable | 17/49 | €452,122 | €1,229,937 | +€777,816 | +172.0% |
| Amounts payable after more than one year | 17 | - | €700,000 | +€700,000 | |
| Financial debts | 170/4 | - | €700,000 | +€700,000 | |
| Amounts payable within one year | 42/48 | €452,122 | €529,937 | +€77,816 | +17.2% |
| Trade debts | 44 | €150 | €69,125 | +€68,975 | +45983.0% |
| Suppliers | 440/4 | €150 | €69,125 | +€68,975 | +45983.0% |
| Other amounts payable | 47/48 | €451,972 | €460,813 | +€8,841 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5 | +€5 | |
| Other operating charges | 640/8 | €2,026 | €2,309 | +€284 | +14.0% |
| Gross operating margin | 9900 | -€1,183 | -€43,928 | -€42,746 | -3614.8% |
| Operating profit (loss) | 9901 | -€3,208 | -€46,242 | -€43,034 | -1341.4% |
| Financial charges | 65/66B | €42 | €2,773 | +€2,731 | +6498.8% |
| Recurring financial charges | 65 | €42 | €2,773 | +€2,731 | +6498.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,250 | -€49,016 | -€45,766 | -1408.1% |
| Profit (loss) for the period | 9904 | -€3,250 | -€49,016 | -€45,766 | -1408.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,250 | -€49,016 | -€45,766 | -1408.1% |
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 6 October 2026 via checked.be.