D2CL: 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.
D2CL
Largest movements
- Cash +€27,059
up €27,059 (+26.8%), from €100,923 to €127,983
mainly Net result for the year (+€64,461) and Other debts (+€63,223)
- Stocks and contracts +€11,811
up €11,811 (+9.6%), from €123,146 to €134,957
- Receivables within one year -€4,427
down €4,427 (-19.8%), from €22,370 to €17,944
of which Other amounts receivable: -€6,173
- Tangible fixed assets -€3,080
down €3,080 (-18.1%), from €17,059 to €13,979
- Other debts +€63,223
up €63,223 (+5,107%), from €1,238 to €64,461
- Short-term financial debts -€10,160
no longer reported in 2025 (was €10,160)
of which Credit institutions: -€10,144
- Debts after one year -€9,180
no longer reported in 2025 (was €9,180)
- Current portion of long-term debt -€9,089
no longer reported in 2025 (was €9,089)
- Gross operating margin +€32,786
up €32,786 (+30.2%), from €108,453 to €141,239
- Taxes +€9,666
up €9,666 (+69.2%), from €13,970 to €23,636
- Financial charges -€2,464
down €2,464 (-90.9%), from €2,711 to €247
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 | €269,091 | €300,241 | +€31,151 | +11.6% |
| Fixed assets | 21/28 | €17,059 | €13,979 | -€3,080 | -18.1% |
| Tangible fixed assets | 22/27 | €17,059 | €13,979 | -€3,080 | -18.1% |
| Plant, machinery and equipment | 23 | €3,338 | €2,691 | -€647 | -19.4% |
| Furniture and vehicles | 24 | €7,557 | €6,103 | -€1,454 | -19.2% |
| Other tangible fixed assets | 26 | €6,165 | €5,185 | -€980 | -15.9% |
| Current assets | 29/58 | €252,031 | €286,262 | +€34,231 | +13.6% |
| Stocks and contracts in progress | 3 | €123,146 | €134,957 | +€11,811 | +9.6% |
| Stocks | 30/36 | €123,146 | €134,957 | +€11,811 | +9.6% |
| Amounts receivable within one year | 40/41 | €22,370 | €17,944 | -€4,427 | -19.8% |
| Trade receivables | 40 | €4,159 | €5,906 | +€1,747 | +42.0% |
| Other amounts receivable | 41 | €18,211 | €12,038 | -€6,173 | -33.9% |
| Cash at bank and in hand | 54/58 | €100,923 | €127,983 | +€27,059 | +26.8% |
| Deferred charges and accrued income | 490/1 | €5,591 | €5,378 | -€213 | -3.8% |
| Total equity and liabilities | 10/49 | €269,091 | €300,241 | +€31,151 | +11.6% |
| Equity | 10/15 | €177,081 | €177,081 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €174,081 | €174,081 | = | 0.0% |
| Distributable reserves | 133 | €174,081 | €174,081 | = | 0.0% |
| Amounts payable | 17/49 | €92,009 | €123,160 | +€31,151 | +33.9% |
| Amounts payable after more than one year | 17 | €9,180 | - | -€9,180 | |
| Financial debts | 170/4 | €9,180 | - | -€9,180 | |
| Amounts payable within one year | 42/48 | €82,722 | €123,160 | +€40,438 | +48.9% |
| Current portion of amounts payable after more than one year | 42 | €9,089 | - | -€9,089 | |
| Financial debts | 43 | €10,160 | - | -€10,160 | |
| Credit institutions | 430/8 | €10,144 | - | -€10,144 | |
| Other loans | 439 | €16 | - | -€16 | |
| Trade debts | 44 | €34,203 | €32,952 | -€1,251 | -3.7% |
| Suppliers | 440/4 | €34,203 | €32,952 | -€1,251 | -3.7% |
| Taxes, remuneration and social security | 45 | €28,033 | €25,747 | -€2,286 | -8.2% |
| Taxes | 450/3 | €16,469 | €13,385 | -€3,084 | -18.7% |
| Remuneration and social security | 454/9 | €11,564 | €12,361 | +€798 | +6.9% |
| Other amounts payable | 47/48 | €1,238 | €64,461 | +€63,223 | +5,107% |
| Accrued charges and deferred income | 492/3 | €107 | - | -€107 | |
| Remuneration, social security and pensions | 62 | €50,021 | €49,078 | -€943 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,918 | €4,123 | +€205 | +5.2% |
| Other operating charges | 640/8 | €997 | €1,291 | +€293 | +29.4% |
| Gross operating margin | 9900 | €108,453 | €141,239 | +€32,786 | +30.2% |
| Operating profit (loss) | 9901 | €53,517 | €86,747 | +€33,230 | +62.1% |
| Financial income | 75/76B | €746 | €1,597 | +€852 | +114% |
| Recurring financial income | 75 | €746 | €1,597 | +€852 | +114% |
| Financial charges | 65/66B | €2,711 | €247 | -€2,464 | -90.9% |
| Recurring financial charges | 65 | €2,711 | €247 | -€2,464 | -90.9% |
| Profit (loss) for the period before taxes | 9903 | €51,551 | €88,097 | +€36,546 | +70.9% |
| Income taxes | 67/77 | €13,970 | €23,636 | +€9,666 | +69.2% |
| Profit (loss) for the period | 9904 | €37,581 | €64,461 | +€26,880 | +71.5% |
| Profit (loss) for the period to be appropriated | 9905 | €37,581 | €64,461 | +€26,880 | +71.5% |
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 15 October 2026 via checked.be.