DANIEL L'EAU: 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.
DANIEL L'EAU
Largest movements
- Cash -€352,545
down €352,545 (-43.0%), from €820,277 to €467,732
mainly Contributions, distributions and other (-€540,000) and Investment in fixed assets (net) (-€261,295)
- Tangible fixed assets +€217,971
up €217,971 (+183.7%), from €118,635 to €336,606
of which Furniture and vehicles: +€214,748
- Receivables within one year -€44,864
down €44,864 (-16.8%), from €266,486 to €221,622
of which Trade receivables: -€87,191
- Stocks and contracts -€22,137
down €22,137 (-6.4%), from €345,274 to €323,138
- Other debts -€260,000
down €260,000 (-32.5%), from €800,000 to €540,000
- Tax, wage and social debts +€32,824
up €32,824 (+547.1%), from €6,000 to €38,824
of which Remuneration and social security: +€20,824
- Trade debts +€29,190
up €29,190 (+72.8%), from €40,085 to €69,275
- Taxes +€166,962
up €166,962 (+2804.3%), from €5,954 to €172,916
- Gross operating margin -€113,927
down €113,927 (-6.0%), from €1.9m to €1.8m
- Staff costs -€40,581
down €40,581 (-3.9%), from €1.0m to €1.0m
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 | €1,575,841 | €1,377,171 | -€198,670 | -12.6% |
| Fixed assets | 21/28 | €118,635 | €336,606 | +€217,971 | +183.7% |
| Tangible fixed assets | 22/27 | €118,635 | €336,606 | +€217,971 | +183.7% |
| Plant, machinery and equipment | 23 | - | €5,020 | +€5,020 | |
| Furniture and vehicles | 24 | €116,838 | €331,586 | +€214,748 | +183.8% |
| Other tangible fixed assets | 26 | €1,797 | €0 | -€1,797 | -100.0% |
| Current assets | 29/58 | €1,457,206 | €1,040,565 | -€416,641 | -28.6% |
| Stocks and contracts in progress | 3 | €345,274 | €323,138 | -€22,137 | -6.4% |
| Stocks | 30/36 | €345,274 | €323,138 | -€22,137 | -6.4% |
| Amounts receivable within one year | 40/41 | €266,486 | €221,622 | -€44,864 | -16.8% |
| Trade receivables | 40 | €249,812 | €162,620 | -€87,191 | -34.9% |
| Other amounts receivable | 41 | €16,674 | €59,002 | +€42,328 | +253.9% |
| Cash at bank and in hand | 54/58 | €820,277 | €467,732 | -€352,545 | -43.0% |
| Deferred charges and accrued income | 490/1 | €25,168 | €28,073 | +€2,905 | +11.5% |
| Total equity and liabilities | 10/49 | €1,575,841 | €1,377,171 | -€198,670 | -12.6% |
| Equity | 10/15 | €724,343 | €728,902 | +€4,559 | +0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €705,743 | €710,302 | +€4,559 | +0.6% |
| Distributable reserves | 133 | €705,743 | €710,302 | +€4,559 | +0.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €851,498 | €648,269 | -€203,229 | -23.9% |
| Amounts payable within one year | 42/48 | €846,255 | €648,269 | -€197,986 | -23.4% |
| Financial debts | 43 | €170 | €170 | = | 0.0% |
| Credit institutions | 430/8 | €170 | €170 | = | 0.0% |
| Trade debts | 44 | €40,085 | €69,275 | +€29,190 | +72.8% |
| Suppliers | 440/4 | €40,085 | €69,275 | +€29,190 | +72.8% |
| Taxes, remuneration and social security | 45 | €6,000 | €38,824 | +€32,824 | +547.1% |
| Taxes | 450/3 | €6,000 | €18,000 | +€12,000 | +200.0% |
| Remuneration and social security | 454/9 | €0 | €20,824 | +€20,824 | |
| Other amounts payable | 47/48 | €800,000 | €540,000 | -€260,000 | -32.5% |
| Accrued charges and deferred income | 492/3 | €5,243 | €0 | -€5,243 | -100.0% |
| Non-recurring operating income | 76A | €4,504 | €2,600 | -€1,904 | -42.3% |
| Remuneration, social security and pensions | 62 | €1,048,853 | €1,008,271 | -€40,581 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,505 | €43,324 | +€8,819 | +25.6% |
| Other operating charges | 640/8 | €18,435 | €34,921 | +€16,486 | +89.4% |
| Non-recurring operating charges | 66A | - | €1,395 | +€1,395 | |
| Gross operating margin | 9900 | €1,907,562 | €1,793,635 | -€113,927 | -6.0% |
| Operating profit (loss) | 9901 | €805,769 | €705,724 | -€100,046 | -12.4% |
| Financial income | 75/76B | €12,170 | €11,811 | -€359 | -2.9% |
| Recurring financial income | 75 | €12,170 | €11,811 | -€359 | -2.9% |
| Financial charges | 65/66B | €69 | €60 | -€9 | -13.1% |
| Recurring financial charges | 65 | €69 | €60 | -€9 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €817,870 | €717,475 | -€100,396 | -12.3% |
| Income taxes | 67/77 | €5,954 | €172,916 | +€166,962 | +2804.3% |
| Profit (loss) for the period | 9904 | €811,917 | €544,559 | -€267,358 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €811,917 | €544,559 | -€267,358 | -32.9% |
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 4 October 2026 via checked.be.