DC²: 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.
DC²
Largest movements
- Current investments +€32,880
up €32,880 (+38.6%), from €85,133 to €118,013
- Receivables within one year +€30,894
up €30,894 (+27.9%), from €110,804 to €141,698
of which Trade receivables: +€36,169
- Tangible fixed assets -€26,005
down €26,005 (-5.3%), from €487,854 to €461,849
of which Land and buildings: -€18,842
- Cash +€25,498
up €25,498 (+27.1%), from €94,006 to €119,504
mainly Net result for the year (+€151,112) and Depreciation (+€48,377)
- Reserves +€99,000
up €99,000 (+23.5%), from €421,848 to €520,848
of which Distributable reserves: +€99,000
- Debts after one year -€21,657
down €21,657 (-33.0%), from €65,682 to €44,025
- Trade debts -€14,796
down €14,796 (-85.3%), from €17,336 to €2,540
- Gross operating margin +€44,646
up €44,646 (+20.0%), from €222,990 to €267,636
- Taxes +€16,354
up €16,354 (+30.4%), from €53,761 to €70,115
- Financial income +€6,624
up €6,624 (+202.9%), from €3,265 to €9,889
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 | €784,588 | €847,254 | +€62,666 | +8.0% |
| Fixed assets | 21/28 | €488,104 | €462,099 | -€26,005 | -5.3% |
| Tangible fixed assets | 22/27 | €487,854 | €461,849 | -€26,005 | -5.3% |
| Land and buildings | 22 | €468,357 | €449,515 | -€18,842 | -4.0% |
| Plant, machinery and equipment | 23 | €1,599 | €1,170 | -€429 | -26.8% |
| Furniture and vehicles | 24 | €17,898 | €11,164 | -€6,733 | -37.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €296,484 | €385,155 | +€88,671 | +29.9% |
| Amounts receivable within one year | 40/41 | €110,804 | €141,698 | +€30,894 | +27.9% |
| Trade receivables | 40 | €36,189 | €72,358 | +€36,169 | +99.9% |
| Other amounts receivable | 41 | €74,615 | €69,340 | -€5,275 | -7.1% |
| Current investments | 50/53 | €85,133 | €118,013 | +€32,880 | +38.6% |
| Cash at bank and in hand | 54/58 | €94,006 | €119,504 | +€25,498 | +27.1% |
| Deferred charges and accrued income | 490/1 | €6,542 | €5,940 | -€602 | -9.2% |
| Total equity and liabilities | 10/49 | €784,588 | €847,254 | +€62,666 | +8.0% |
| Equity | 10/15 | €638,911 | €739,023 | +€100,112 | +15.7% |
| Contributions | 10/11 | €97,000 | €97,000 | = | 0.0% |
| Reserves | 13 | €421,848 | €520,848 | +€99,000 | +23.5% |
| Non-distributable reserves | 130/1 | €23,300 | €23,300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €23,300 | €23,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €48 | €48 | = | 0.0% |
| Distributable reserves | 133 | €398,500 | €497,500 | +€99,000 | +24.8% |
| Profit (loss) carried forward | 14 | €120,063 | €121,175 | +€1,112 | +0.9% |
| Amounts payable | 17/49 | €145,677 | €108,231 | -€37,446 | -25.7% |
| Amounts payable after more than one year | 17 | €65,682 | €44,025 | -€21,657 | -33.0% |
| Financial debts | 170/4 | €65,682 | €44,025 | -€21,657 | -33.0% |
| Amounts payable within one year | 42/48 | €79,995 | €64,206 | -€15,789 | -19.7% |
| Current portion of amounts payable after more than one year | 42 | €25,174 | €21,657 | -€3,516 | -14.0% |
| Trade debts | 44 | €17,336 | €2,540 | -€14,796 | -85.3% |
| Suppliers | 440/4 | €17,336 | €2,540 | -€14,796 | -85.3% |
| Advances received on contracts in progress | 46 | €756 | - | -€756 | |
| Taxes, remuneration and social security | 45 | €36,729 | €40,009 | +€3,279 | +8.9% |
| Taxes | 450/3 | €36,729 | €40,009 | +€3,279 | +8.9% |
| Non-recurring operating income | 76A | - | €7,306 | +€7,306 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,082 | €48,377 | +€1,295 | +2.8% |
| Other operating charges | 640/8 | €4,905 | €4,993 | +€87 | +1.8% |
| Non-recurring operating charges | 66A | - | €301 | +€301 | |
| Gross operating margin | 9900 | €222,990 | €267,636 | +€44,646 | +20.0% |
| Operating profit (loss) | 9901 | €171,002 | €213,965 | +€42,963 | +25.1% |
| Financial income | 75/76B | €3,265 | €9,889 | +€6,624 | +202.9% |
| Recurring financial income | 75 | €3,265 | €9,889 | +€6,624 | +202.9% |
| Financial charges | 65/66B | €3,263 | €2,627 | -€635 | -19.5% |
| Recurring financial charges | 65 | €3,263 | €2,627 | -€635 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €171,004 | €221,227 | +€50,222 | +29.4% |
| Income taxes | 67/77 | €53,761 | €70,115 | +€16,354 | +30.4% |
| Profit (loss) for the period | 9904 | €117,243 | €151,112 | +€33,869 | +28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €117,243 | €151,112 | +€33,869 | +28.9% |
Source: filed annual accounts (NBB), fiscal years ended 29 September 2024 and 29 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.