DB-M: 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.
DB-M
Largest movements
- Current investments +€514,114
up €514,114 (+178.8%), from €287,470 to €801,583
- Tangible fixed assets -€219,145
down €219,145 (-77.7%), from €282,194 to €63,049
of which Land and buildings: -€218,261
- Cash +€51,024
up €51,024 (+88.4%), from €57,705 to €108,728
mainly Net result for the year (+€397,488) and Investment in fixed assets (net) (+€209,460)
- Receivables within one year +€11,132
up €11,132 (+148.9%), from €7,476 to €18,607
of which Other amounts receivable: +€12,373
- Reserves +€349,048
up €349,048 (+150.0%), from €232,754 to €581,802
of which Tax-exempt reserves: +€349,048
- Provisions +€113,804
up €113,804 (+1226.4%), from €9,280 to €123,084
- Other debts -€105,717
down €105,717 (-65.1%), from €162,371 to €56,654
- Current portion of long-term debt -€75,853
down €75,853 (-86.3%), from €87,853 to €12,000
- Profit (loss) carried forward +€48,440
up €48,440 (+40.4%), from €119,831 to €168,271
- Gross operating margin +€540,236
up €540,236, from -€8,628 to €531,608
- Staff costs -€17,396
no longer reported in 2025 (was €17,396)
- Depreciation -€9,706
down €9,706 (-50.1%), from €19,391 to €9,685
- Taxes +€5,767
up €5,767 (+1834.3%), from €314 to €6,081
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 | €637,721 | €991,968 | +€354,247 | +55.5% |
| Fixed assets | 21/28 | €282,194 | €63,049 | -€219,145 | -77.7% |
| Tangible fixed assets | 22/27 | €282,194 | €63,049 | -€219,145 | -77.7% |
| Land and buildings | 22 | €274,495 | €56,234 | -€218,261 | -79.5% |
| Furniture and vehicles | 24 | €7,699 | €6,815 | -€884 | -11.5% |
| Current assets | 29/58 | €355,528 | €928,919 | +€573,391 | +161.3% |
| Amounts receivable within one year | 40/41 | €7,476 | €18,607 | +€11,132 | +148.9% |
| Trade receivables | 40 | €4,780 | €3,539 | -€1,241 | -26.0% |
| Other amounts receivable | 41 | €2,696 | €15,069 | +€12,373 | +458.9% |
| Current investments | 50/53 | €287,470 | €801,583 | +€514,114 | +178.8% |
| Cash at bank and in hand | 54/58 | €57,705 | €108,728 | +€51,024 | +88.4% |
| Deferred charges and accrued income | 490/1 | €2,878 | - | -€2,878 | |
| Total equity and liabilities | 10/49 | €637,721 | €991,968 | +€354,247 | +55.5% |
| Equity | 10/15 | €371,185 | €768,673 | +€397,488 | +107.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €232,754 | €581,802 | +€349,048 | +150.0% |
| Non-distributable reserves | 130/1 | €29,481 | €29,481 | = | 0.0% |
| Reserves not available under the articles | 1311 | €29,481 | €29,481 | = | 0.0% |
| Tax-exempt reserves | 132 | €38,953 | €388,001 | +€349,048 | +896.1% |
| Distributable reserves | 133 | €164,320 | €164,320 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,831 | €168,271 | +€48,440 | +40.4% |
| Provisions and deferred taxes | 16 | €9,280 | €123,084 | +€113,804 | +1226.4% |
| Deferred taxes | 168 | €9,280 | €123,084 | +€113,804 | +1226.4% |
| Amounts payable | 17/49 | €257,257 | €100,212 | -€157,045 | -61.0% |
| Amounts payable after more than one year | 17 | - | €28,000 | +€28,000 | |
| Financial debts | 170/4 | - | €28,000 | +€28,000 | |
| Amounts payable within one year | 42/48 | €257,257 | €72,212 | -€185,045 | -71.9% |
| Current portion of amounts payable after more than one year | 42 | €87,853 | €12,000 | -€75,853 | -86.3% |
| Trade debts | 44 | €7,033 | €3,558 | -€3,475 | -49.4% |
| Suppliers | 440/4 | €7,033 | €3,558 | -€3,475 | -49.4% |
| Other amounts payable | 47/48 | €162,371 | €56,654 | -€105,717 | -65.1% |
| Non-recurring operating income | 76A | €950 | €492,747 | +€491,797 | +51768.1% |
| Remuneration, social security and pensions | 62 | €17,396 | - | -€17,396 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,391 | €9,685 | -€9,706 | -50.1% |
| Other operating charges | 640/8 | €2,626 | €1,240 | -€1,386 | -52.8% |
| Gross operating margin | 9900 | -€8,628 | €531,608 | +€540,236 | |
| Operating profit (loss) | 9901 | -€48,042 | €520,683 | +€568,725 | |
| Financial charges | 65/66B | €2,132 | €3,310 | +€1,178 | +55.3% |
| Recurring financial charges | 65 | €2,132 | €3,310 | +€1,178 | +55.3% |
| Profit (loss) for the period before taxes | 9903 | -€50,173 | €517,373 | +€567,546 | |
| Transfer from deferred taxes | 780 | €564 | €9,280 | +€8,715 | +1544.9% |
| Transfer to deferred taxes | 680 | - | €123,084 | +€123,084 | |
| Income taxes | 67/77 | €314 | €6,081 | +€5,767 | +1834.3% |
| Profit (loss) for the period | 9904 | -€49,923 | €397,488 | +€447,411 | |
| Transfer from tax-exempt reserves | 789 | €2,200 | €20,203 | +€18,003 | +818.4% |
| Transfer to tax-exempt reserves | 689 | - | €369,251 | +€369,251 | |
| Profit (loss) for the period to be appropriated | 9905 | -€47,724 | €48,440 | +€96,164 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.