DCODED MANAGEMENT: 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.
DCODED MANAGEMENT
Largest movements
- Cash -€45,602
down €45,602 (-22.8%), from €199,979 to €154,377
mainly Contributions, distributions and other (-€114,786) and Other debts (-€44,285)
- Receivables within one year -€23,757
down €23,757 (-84.9%), from €27,989 to €4,232
of which Trade receivables: -€23,571
- Other debts -€44,285
down €44,285 (-38.2%), from €115,808 to €71,523
- Reserves -€23,856
down €23,856 (-35.9%), from €66,384 to €42,527
of which Distributable reserves: -€23,856
- Tax, wage and social debts -€3,045
down €3,045 (-11.1%), from €27,411 to €24,366
- Gross operating margin +€4,371
up €4,371 (+3.7%), from €116,894 to €121,265
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 | €232,662 | €161,914 | -€70,748 | -30.4% |
| Fixed assets | 21/28 | €4,215 | €2,826 | -€1,388 | -32.9% |
| Tangible fixed assets | 22/27 | €4,215 | €2,826 | -€1,388 | -32.9% |
| Furniture and vehicles | 24 | €4,215 | €2,826 | -€1,388 | -32.9% |
| Current assets | 29/58 | €228,447 | €159,088 | -€69,359 | -30.4% |
| Amounts receivable within one year | 40/41 | €27,989 | €4,232 | -€23,757 | -84.9% |
| Trade receivables | 40 | €23,647 | €76 | -€23,571 | -99.7% |
| Other amounts receivable | 41 | €4,343 | €4,156 | -€186 | -4.3% |
| Cash at bank and in hand | 54/58 | €199,979 | €154,377 | -€45,602 | -22.8% |
| Deferred charges and accrued income | 490/1 | €479 | €479 | = | 0.0% |
| Total equity and liabilities | 10/49 | €232,662 | €161,914 | -€70,748 | -30.4% |
| Equity | 10/15 | €84,984 | €61,127 | -€23,856 | -28.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €66,384 | €42,527 | -€23,856 | -35.9% |
| 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 | €64,524 | €40,667 | -€23,856 | -37.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €147,678 | €100,787 | -€46,891 | -31.8% |
| Amounts payable within one year | 42/48 | €147,678 | €100,787 | -€46,891 | -31.8% |
| Trade debts | 44 | €4,459 | €4,898 | +€439 | +9.8% |
| Suppliers | 440/4 | €4,459 | €4,898 | +€439 | +9.8% |
| Taxes, remuneration and social security | 45 | €27,411 | €24,366 | -€3,045 | -11.1% |
| Taxes | 450/3 | €27,411 | €24,366 | -€3,045 | -11.1% |
| Other amounts payable | 47/48 | €115,808 | €71,523 | -€44,285 | -38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,852 | €2,826 | -€26 | -0.9% |
| Other operating charges | 640/8 | €472 | €665 | +€193 | +40.9% |
| Gross operating margin | 9900 | €116,894 | €121,265 | +€4,371 | +3.7% |
| Operating profit (loss) | 9901 | €113,570 | €117,773 | +€4,204 | +3.7% |
| Financial income | 75/76B | €0 | €36 | +€36 | +9751.4% |
| Recurring financial income | 75 | €0 | €36 | +€36 | +9751.4% |
| Non-recurring financial income | 76B | €0 | €36 | +€36 | +9751.4% |
| Financial charges | 65/66B | €62 | €1,037 | +€975 | +1580.3% |
| Recurring financial charges | 65 | €62 | €63 | +€2 | +2.4% |
| Non-recurring financial charges | 66B | €0 | €974 | +€974 | +463671.4% |
| Profit (loss) for the period before taxes | 9903 | €113,508 | €116,773 | +€3,265 | +2.9% |
| Income taxes | 67/77 | €26,360 | €25,844 | -€516 | -2.0% |
| Profit (loss) for the period | 9904 | €87,148 | €90,929 | +€3,781 | +4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €87,148 | €90,929 | +€3,781 | +4.3% |
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 3 October 2026 via checked.be.