D2A MANAGEMENT: 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.
D2A MANAGEMENT
Largest movements
- Cash +€11,395
up €11,395 (+91.3%), from €12,481 to €23,877
mainly Receivables within one year (+€7,366) and Net result for the year (+€6,321)
- Receivables within one year -€7,366
down €7,366 (-84.0%), from €8,770 to €1,405
of which Trade receivables: -€7,588
- Tangible fixed assets +€2,175
up €2,175 (+65.3%), from €3,330 to €5,505
of which Other tangible fixed assets: +€2,964
- Deferred charges and accrued income +€1,266
up €1,266 (+1288.5%), from €98 to €1,364
- Reserves +€6,300
up €6,300 (+116.7%), from €5,400 to €11,700
- Profit (loss) carried forward -€3,569
down €3,569 (-99.4%), from €3,590 to €21
- Tax, wage and social debts +€3,212
up €3,212 (+110.8%), from €2,899 to €6,111
- Other debts +€2,724
up €2,724 (+56.6%), from €4,812 to €7,536
- Accrued charges and deferred income -€1,400
no longer reported in 2025 (was €1,400)
- Depreciation -€3,043
down €3,043 (-63.5%), from €4,790 to €1,748
- Taxes +€1,102
up €1,102 (+34.7%), from €3,176 to €4,278
- Gross operating margin +€552
up €552 (+4.3%), from €12,692 to €13,244
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 | €24,680 | €32,151 | +€7,470 | +30.3% |
| Fixed assets | 21/28 | €3,330 | €5,505 | +€2,175 | +65.3% |
| Tangible fixed assets | 22/27 | €3,330 | €5,505 | +€2,175 | +65.3% |
| Plant, machinery and equipment | 23 | €11 | - | -€11 | |
| Furniture and vehicles | 24 | €1,389 | €610 | -€779 | -56.1% |
| Other tangible fixed assets | 26 | €1,931 | €4,895 | +€2,964 | +153.5% |
| Current assets | 29/58 | €21,350 | €26,645 | +€5,296 | +24.8% |
| Amounts receivable within one year | 40/41 | €8,770 | €1,405 | -€7,366 | -84.0% |
| Trade receivables | 40 | €7,946 | €358 | -€7,588 | -95.5% |
| Other amounts receivable | 41 | €824 | €1,046 | +€222 | +27.0% |
| Cash at bank and in hand | 54/58 | €12,481 | €23,877 | +€11,395 | +91.3% |
| Deferred charges and accrued income | 490/1 | €98 | €1,364 | +€1,266 | +1288.5% |
| Total equity and liabilities | 10/49 | €24,680 | €32,151 | +€7,470 | +30.3% |
| Equity | 10/15 | €13,990 | €16,721 | +€2,731 | +19.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €5,400 | €11,700 | +€6,300 | +116.7% |
| Distributable reserves | 133 | €5,400 | €11,700 | +€6,300 | +116.7% |
| Profit (loss) carried forward | 14 | €3,590 | €21 | -€3,569 | -99.4% |
| Amounts payable | 17/49 | €10,690 | €15,430 | +€4,739 | +44.3% |
| Amounts payable within one year | 42/48 | €9,290 | €15,430 | +€6,139 | +66.1% |
| Trade debts | 44 | €1,580 | €1,783 | +€203 | +12.9% |
| Suppliers | 440/4 | €1,580 | €1,783 | +€203 | +12.9% |
| Taxes, remuneration and social security | 45 | €2,899 | €6,111 | +€3,212 | +110.8% |
| Taxes | 450/3 | €2,899 | €6,111 | +€3,212 | +110.8% |
| Other amounts payable | 47/48 | €4,812 | €7,536 | +€2,724 | +56.6% |
| Accrued charges and deferred income | 492/3 | €1,400 | - | -€1,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,790 | €1,748 | -€3,043 | -63.5% |
| Other operating charges | 640/8 | €373 | €450 | +€77 | +20.6% |
| Non-recurring operating charges | 66A | €390 | - | -€390 | |
| Gross operating margin | 9900 | €12,692 | €13,244 | +€552 | +4.3% |
| Operating profit (loss) | 9901 | €7,139 | €11,046 | +€3,907 | +54.7% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €546 | €449 | -€97 | -17.8% |
| Recurring financial charges | 65 | €546 | €449 | -€97 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €6,593 | €10,599 | +€4,006 | +60.8% |
| Income taxes | 67/77 | €3,176 | €4,278 | +€1,102 | +34.7% |
| Profit (loss) for the period | 9904 | €3,417 | €6,321 | +€2,904 | +85.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,417 | €6,321 | +€2,904 | +85.0% |
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 3 October 2026 via checked.be.