DANNY DE WAELE: 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.
DANNY DE WAELE
Largest movements
- Cash -€42,858
down €42,858 (-33.2%), from €128,917 to €86,060
mainly Investment in fixed assets (net) (-€42,627) and Contributions, distributions and other (-€36,856)
- Receivables within one year -€30,128
down €30,128 (-82.0%), from €36,722 to €6,594
of which Other amounts receivable: -€15,687
- Stocks and contracts -€15,895
down €15,895 (-46.2%), from €34,430 to €18,536
- Reserves -€36,192
down €36,192 (-6.2%), from €585,889 to €549,698
- Tax, wage and social debts -€26,185
down €26,185 (-91.7%), from €28,556 to €2,370
- Debts after one year -€23,833
down €23,833 (-100%), from €23,833 to €0
of which Advances received on contracts in progress: -€17,000
- Gross operating margin -€70,323
down €70,323 (-62.8%), from €111,911 to €41,588
- Taxes -€24,628
down €24,628 (-98.2%), from €25,086 to €458
- Depreciation +€9,082
up €9,082 (+25.6%), from €35,521 to €44,603
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 | €710,578 | €622,743 | -€87,835 | -12.4% |
| Fixed assets | 21/28 | €107,579 | €105,602 | -€1,977 | -1.8% |
| Tangible fixed assets | 22/27 | €106,694 | €104,717 | -€1,977 | -1.9% |
| Land and buildings | 22 | €12,154 | €9,660 | -€2,494 | -20.5% |
| Plant, machinery and equipment | 23 | €19,240 | €12,163 | -€7,077 | -36.8% |
| Furniture and vehicles | 24 | €75,300 | €82,895 | +€7,595 | +10.1% |
| Financial fixed assets | 28 | €885 | €885 | = | 0.0% |
| Current assets | 29/58 | €602,999 | €517,141 | -€85,858 | -14.2% |
| Stocks and contracts in progress | 3 | €34,430 | €18,536 | -€15,895 | -46.2% |
| Stocks | 30/36 | €34,430 | €18,536 | -€15,895 | -46.2% |
| Amounts receivable within one year | 40/41 | €36,722 | €6,594 | -€30,128 | -82.0% |
| Trade receivables | 40 | €16,568 | €2,127 | -€14,440 | -87.2% |
| Other amounts receivable | 41 | €20,154 | €4,467 | -€15,687 | -77.8% |
| Current investments | 50/53 | €400,000 | €400,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €128,917 | €86,060 | -€42,858 | -33.2% |
| Deferred charges and accrued income | 490/1 | €2,929 | €5,951 | +€3,022 | +103% |
| Total equity and liabilities | 10/49 | €710,578 | €622,743 | -€87,835 | -12.4% |
| Equity | 10/15 | €604,975 | €568,298 | -€36,677 | -6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €585,889 | €549,698 | -€36,192 | -6.2% |
| Distributable reserves | 133 | €585,889 | €549,698 | -€36,192 | -6.2% |
| Profit (loss) carried forward | 14 | €485 | €0 | -€485 | -100% |
| Amounts payable | 17/49 | €105,603 | €54,445 | -€51,157 | -48.4% |
| Amounts payable after more than one year | 17 | €23,833 | €0 | -€23,833 | -100% |
| Financial debts | 170/4 | €6,833 | €0 | -€6,833 | -100% |
| Advances received on contracts in progress | 176 | €17,000 | €0 | -€17,000 | -100% |
| Amounts payable within one year | 42/48 | €79,421 | €52,050 | -€27,371 | -34.5% |
| Current portion of amounts payable after more than one year | 42 | €7,422 | €6,833 | -€590 | -7.9% |
| Trade debts | 44 | €9,886 | €4,295 | -€5,591 | -56.6% |
| Suppliers | 440/4 | €9,886 | €4,295 | -€5,591 | -56.6% |
| Taxes, remuneration and social security | 45 | €28,556 | €2,370 | -€26,185 | -91.7% |
| Taxes | 450/3 | €28,556 | €2,370 | -€26,185 | -91.7% |
| Other amounts payable | 47/48 | €33,557 | €38,552 | +€4,995 | +14.9% |
| Accrued charges and deferred income | 492/3 | €2,349 | €2,395 | +€46 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,521 | €44,603 | +€9,082 | +25.6% |
| Other operating charges | 640/8 | €2,099 | €2,975 | +€876 | +41.7% |
| Gross operating margin | 9900 | €111,911 | €41,588 | -€70,323 | -62.8% |
| Operating profit (loss) | 9901 | €74,291 | -€5,990 | -€80,281 | |
| Financial income | 75/76B | €9,103 | €9,456 | +€353 | +3.9% |
| Recurring financial income | 75 | €9,103 | €9,456 | +€353 | +3.9% |
| Financial charges | 65/66B | €2,675 | €2,828 | +€154 | +5.7% |
| Recurring financial charges | 65 | €2,675 | €2,828 | +€154 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €80,718 | €637 | -€80,081 | -99.2% |
| Income taxes | 67/77 | €25,086 | €458 | -€24,628 | -98.2% |
| Profit (loss) for the period | 9904 | €55,632 | €179 | -€55,453 | -99.7% |
| Profit (loss) for the period to be appropriated | 9905 | €55,632 | €179 | -€55,453 | -99.7% |
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 31 October 2026 via checked.be.