DB STABLES: 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 STABLES
Largest movements
- Tangible fixed assets +€55,710
up €55,710 (+329.0%), from €16,934 to €72,644
of which Furniture and vehicles: +€53,694
- Stocks and contracts -€49,000
down €49,000 (-57.8%), from €84,750 to €35,750
- Cash +€28,459
up €28,459 (+515.3%), from €5,523 to €33,982
mainly Stocks and contracts (+€49,000) and Debts after one year (+€24,499)
- Debts after one year +€24,499
up €24,499, from €0 to €24,499
- Reserves +€24,497
up €24,497 (+102.2%), from €23,974 to €48,471
of which Tax-exempt reserves: +€24,497
- Other debts -€13,489
down €13,489 (-15.4%), from €87,863 to €74,374
- Trade debts -€6,659
down €6,659 (-31.5%), from €21,170 to €14,511
- Provisions +€6,124
new in 2025: €6,124
- Gross operating margin +€15,322
up €15,322 (+48.2%), from €31,785 to €47,107
- Depreciation -€9,054
down €9,054 (-80.7%), from €11,226 to €2,172
- Taxes -€592
down €592 (-30.9%), from €1,916 to €1,324
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 | €137,879 | €174,072 | +€36,194 | +26.3% |
| Fixed assets | 21/28 | €16,934 | €72,644 | +€55,710 | +329.0% |
| Tangible fixed assets | 22/27 | €16,934 | €72,644 | +€55,710 | +329.0% |
| Plant, machinery and equipment | 23 | €14,911 | €16,926 | +€2,016 | +13.5% |
| Furniture and vehicles | 24 | €2,024 | €55,718 | +€53,694 | +2653.2% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €120,944 | €101,428 | -€19,516 | -16.1% |
| Stocks and contracts in progress | 3 | €84,750 | €35,750 | -€49,000 | -57.8% |
| Stocks | 30/36 | €84,750 | €35,750 | -€49,000 | -57.8% |
| Amounts receivable within one year | 40/41 | €29,205 | €29,273 | +€69 | +0.2% |
| Trade receivables | 40 | €27,720 | €14,068 | -€13,652 | -49.2% |
| Other amounts receivable | 41 | €1,485 | €15,206 | +€13,721 | +923.9% |
| Cash at bank and in hand | 54/58 | €5,523 | €33,982 | +€28,459 | +515.3% |
| Deferred charges and accrued income | 490/1 | €1,466 | €2,423 | +€956 | +65.2% |
| Total equity and liabilities | 10/49 | €137,879 | €174,072 | +€36,194 | +26.3% |
| Equity | 10/15 | €24,974 | €48,965 | +€23,991 | +96.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €23,974 | €48,471 | +€24,497 | +102.2% |
| Tax-exempt reserves | 132 | - | €24,497 | +€24,497 | |
| Distributable reserves | 133 | €23,974 | €23,974 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€505 | -€505 | |
| Provisions and deferred taxes | 16 | - | €6,124 | +€6,124 | |
| Deferred taxes | 168 | - | €6,124 | +€6,124 | |
| Amounts payable | 17/49 | €112,904 | €118,983 | +€6,078 | +5.4% |
| Amounts payable after more than one year | 17 | €0 | €24,499 | +€24,499 | |
| Financial debts | 170/4 | €0 | €24,499 | +€24,499 | |
| Amounts payable within one year | 42/48 | €112,904 | €94,484 | -€18,421 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €3,511 | €5,501 | +€1,990 | +56.7% |
| Trade debts | 44 | €21,170 | €14,511 | -€6,659 | -31.5% |
| Suppliers | 440/4 | €21,170 | €14,511 | -€6,659 | -31.5% |
| Taxes, remuneration and social security | 45 | €361 | €98 | -€263 | -72.9% |
| Taxes | 450/3 | €361 | €98 | -€263 | -72.9% |
| Other amounts payable | 47/48 | €87,863 | €74,374 | -€13,489 | -15.4% |
| Non-recurring operating income | 76A | €1,485 | €0 | -€1,485 | -100.0% |
| Remuneration, social security and pensions | 62 | €185 | €185 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,226 | €2,172 | -€9,054 | -80.7% |
| Other operating charges | 640/8 | €1,449 | €1,445 | -€5 | -0.3% |
| Non-recurring operating charges | 66A | €12,300 | €11,500 | -€800 | -6.5% |
| Gross operating margin | 9900 | €31,785 | €47,107 | +€15,322 | +48.2% |
| Operating profit (loss) | 9901 | €6,624 | €31,805 | +€25,181 | +380.1% |
| Financial income | 75/76B | €26 | €3 | -€23 | -88.5% |
| Recurring financial income | 75 | €26 | €3 | -€23 | -88.5% |
| Financial charges | 65/66B | €276 | €369 | +€92 | +33.4% |
| Recurring financial charges | 65 | €276 | €369 | +€92 | +33.4% |
| Profit (loss) for the period before taxes | 9903 | €6,374 | €31,440 | +€25,066 | +393.3% |
| Transfer from deferred taxes | 780 | - | €52 | +€52 | |
| Transfer to deferred taxes | 680 | - | €6,176 | +€6,176 | |
| Income taxes | 67/77 | €1,916 | €1,324 | -€592 | -30.9% |
| Profit (loss) for the period | 9904 | €4,458 | €23,991 | +€19,534 | +438.2% |
| Transfer from tax-exempt reserves | 789 | - | €209 | +€209 | |
| Transfer to tax-exempt reserves | 689 | - | €24,705 | +€24,705 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,458 | -€505 | -€4,963 |
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 11 October 2026 via checked.be.