DBR CONSULT: 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.
DBR CONSULT
Largest movements
- Stocks and contracts +€695,802
up €695,802 (+51.7%), from €1.3m to €2.0m
- Cash +€56,412
up €56,412 (+88.6%), from €63,640 to €120,052
mainly Short-term financial debts (+€337,030) and Other debts (+€275,790)
- Short-term financial debts +€337,030
up €337,030 (+24.6%), from €1.4m to €1.7m
- Other debts +€275,790
up €275,790 (+117.7%), from €234,383 to €510,172
- Reserves +€85,956
up €85,956 (+29.3%), from €293,266 to €379,222
of which Distributable reserves: +€85,956
- Trade debts +€65,869
up €65,869 (+91.6%), from €71,948 to €137,818
- Gross operating margin +€13,513
up €13,513 (+6.7%), from €203,002 to €216,515
- Depreciation +€12,009
up €12,009, from €0 to €12,009
- Taxes +€4,939
up €4,939 (+15.3%), from €32,269 to €37,208
- Other operating charges -€3,554
down €3,554 (-58.1%), from €6,111 to €2,558
- Financial charges -€2,514
down €2,514 (-3.1%), from €81,719 to €79,205
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 | €2,167,359 | €2,903,876 | +€736,517 | +34.0% |
| Fixed assets | 21/28 | €638,691 | €630,819 | -€7,871 | -1.2% |
| Tangible fixed assets | 22/27 | €632,691 | €624,819 | -€7,871 | -1.2% |
| Land and buildings | 22 | €601,000 | €601,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,879 | €2,224 | -€656 | -22.8% |
| Furniture and vehicles | 24 | €426 | €21,596 | +€21,170 | +4973.5% |
| Leasing and similar rights | 25 | €28,385 | €0 | -€28,385 | -100.0% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €1,528,668 | €2,273,056 | +€744,388 | +48.7% |
| Stocks and contracts in progress | 3 | €1,345,201 | €2,041,003 | +€695,802 | +51.7% |
| Stocks | 30/36 | €1,345,201 | €2,041,003 | +€695,802 | +51.7% |
| Amounts receivable within one year | 40/41 | €119,333 | €112,001 | -€7,332 | -6.1% |
| Trade receivables | 40 | €101,814 | €94,851 | -€6,963 | -6.8% |
| Other amounts receivable | 41 | €17,519 | €17,150 | -€369 | -2.1% |
| Cash at bank and in hand | 54/58 | €63,640 | €120,052 | +€56,412 | +88.6% |
| Deferred charges and accrued income | 490/1 | €494 | €0 | -€494 | -100.0% |
| Total equity and liabilities | 10/49 | €2,167,359 | €2,903,876 | +€736,517 | +34.0% |
| Equity | 10/15 | €311,866 | €397,822 | +€85,956 | +27.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €293,266 | €379,222 | +€85,956 | +29.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €291,406 | €377,362 | +€85,956 | +29.5% |
| Amounts payable | 17/49 | €1,855,493 | €2,506,054 | +€650,561 | +35.1% |
| Amounts payable after more than one year | 17 | €100,485 | €86,438 | -€14,047 | -14.0% |
| Financial debts | 170/4 | €100,485 | €86,438 | -€14,047 | -14.0% |
| Amounts payable within one year | 42/48 | €1,735,241 | €2,419,616 | +€684,374 | +39.4% |
| Current portion of amounts payable after more than one year | 42 | €42,610 | €44,298 | +€1,688 | +4.0% |
| Financial debts | 43 | €1,368,880 | €1,705,910 | +€337,030 | +24.6% |
| Credit institutions | 430/8 | €1,368,880 | €1,705,910 | +€337,030 | +24.6% |
| Trade debts | 44 | €71,948 | €137,818 | +€65,869 | +91.6% |
| Suppliers | 440/4 | €71,948 | €137,818 | +€65,869 | +91.6% |
| Taxes, remuneration and social security | 45 | €17,421 | €21,418 | +€3,997 | +22.9% |
| Taxes | 450/3 | €14,021 | €14,618 | +€597 | +4.3% |
| Remuneration and social security | 454/9 | €3,400 | €6,800 | +€3,400 | +100.0% |
| Other amounts payable | 47/48 | €234,383 | €510,172 | +€275,790 | +117.7% |
| Accrued charges and deferred income | 492/3 | €19,766 | €0 | -€19,766 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €12,009 | +€12,009 | |
| Other operating charges | 640/8 | €6,111 | €2,558 | -€3,554 | -58.1% |
| Gross operating margin | 9900 | €203,002 | €216,515 | +€13,513 | +6.7% |
| Operating profit (loss) | 9901 | €196,890 | €201,948 | +€5,057 | +2.6% |
| Financial income | 75/76B | €1,914 | €421 | -€1,493 | -78.0% |
| Recurring financial income | 75 | €1,914 | €421 | -€1,493 | -78.0% |
| Financial charges | 65/66B | €81,719 | €79,205 | -€2,514 | -3.1% |
| Recurring financial charges | 65 | €81,719 | €79,205 | -€2,514 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €117,085 | €123,164 | +€6,078 | +5.2% |
| Income taxes | 67/77 | €32,269 | €37,208 | +€4,939 | +15.3% |
| Profit (loss) for the period | 9904 | €84,816 | €85,956 | +€1,139 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €84,816 | €85,956 | +€1,139 | +1.3% |
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 30 September 2026 via checked.be.