DD MONTAGE: 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.
DD MONTAGE
Largest movements
- Receivables within one year -€131,961
down €131,961 (-96.0%), from €137,392 to €5,432
of which Trade receivables: -€129,113
- Receivables after one year +€51,000
up €51,000 (+56.7%), from €90,000 to €141,000
- Cash -€44,382
down €44,382 (-74.7%), from €59,391 to €15,009
mainly Accrued charges and deferred income (-€60,000) and Receivables after one year (-€51,000)
- Tangible fixed assets -€32,669
down €32,669 (-29.3%), from €111,395 to €78,726
of which Furniture and vehicles: -€30,052
- Stocks and contracts +€17,500
new in 2025: €17,500
- Accrued charges and deferred income -€60,000
no longer reported in 2025 (was €60,000)
- Trade debts -€43,359
down €43,359 (-89.6%), from €48,387 to €5,029
- Debts after one year -€37,516
down €37,516 (-48.6%), from €77,257 to €39,741
- Profit (loss) carried forward +€15,863
up €15,863 (+14.3%), from €110,872 to €126,735
- Advances received -€12,481
down €12,481 (-34.4%), from €36,300 to €23,819
- Gross operating margin -€29,352
down €29,352 (-28.6%), from €102,519 to €73,168
- Staff costs +€18,248
new in 2025: €18,248
- Depreciation +€12,722
up €12,722 (+63.8%), from €19,947 to €32,669
- Taxes -€10,357
down €10,357 (-68.5%), from €15,115 to €4,757
- Financial income +€1,915
up €1,915 (+147%), from €1,301 to €3,216
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.
Derived cash bridge
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 | €398,179 | €258,070 | -€140,109 | -35.2% |
| Fixed assets | 21/28 | €111,395 | €78,726 | -€32,669 | -29.3% |
| Tangible fixed assets | 22/27 | €111,395 | €78,726 | -€32,669 | -29.3% |
| Plant, machinery and equipment | 23 | €6,653 | €4,036 | -€2,617 | -39.3% |
| Furniture and vehicles | 24 | €104,742 | €74,690 | -€30,052 | -28.7% |
| Current assets | 29/58 | €286,784 | €179,344 | -€107,440 | -37.5% |
| Amounts receivable after more than one year | 29 | €90,000 | €141,000 | +€51,000 | +56.7% |
| Other amounts receivable | 291 | €90,000 | €141,000 | +€51,000 | +56.7% |
| Stocks and contracts in progress | 3 | - | €17,500 | +€17,500 | |
| Stocks | 30/36 | - | €17,500 | +€17,500 | |
| Amounts receivable within one year | 40/41 | €137,392 | €5,432 | -€131,961 | -96.0% |
| Trade receivables | 40 | €129,786 | €673 | -€129,113 | -99.5% |
| Other amounts receivable | 41 | €7,607 | €4,759 | -€2,848 | -37.4% |
| Cash at bank and in hand | 54/58 | €59,391 | €15,009 | -€44,382 | -74.7% |
| Deferred charges and accrued income | 490/1 | - | €403 | +€403 | |
| Total equity and liabilities | 10/49 | €398,179 | €258,070 | -€140,109 | -35.2% |
| Equity | 10/15 | €113,372 | €129,235 | +€15,863 | +14.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €110,872 | €126,735 | +€15,863 | +14.3% |
| Amounts payable | 17/49 | €284,806 | €128,834 | -€155,972 | -54.8% |
| Amounts payable after more than one year | 17 | €77,257 | €39,741 | -€37,516 | -48.6% |
| Financial debts | 170/4 | €77,257 | €39,741 | -€37,516 | -48.6% |
| Amounts payable within one year | 42/48 | €147,549 | €89,093 | -€58,456 | -39.6% |
| Current portion of amounts payable after more than one year | 42 | €37,049 | €37,516 | +€467 | +1.3% |
| Trade debts | 44 | €48,387 | €5,029 | -€43,359 | -89.6% |
| Suppliers | 440/4 | €48,387 | €5,029 | -€43,359 | -89.6% |
| Advances received on contracts in progress | 46 | €36,300 | €23,819 | -€12,481 | -34.4% |
| Taxes, remuneration and social security | 45 | €25,813 | €21,935 | -€3,878 | -15.0% |
| Taxes | 450/3 | €25,813 | €21,935 | -€3,878 | -15.0% |
| Other amounts payable | 47/48 | - | €795 | +€795 | |
| Accrued charges and deferred income | 492/3 | €60,000 | - | -€60,000 | |
| Remuneration, social security and pensions | 62 | - | €18,248 | +€18,248 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,947 | €32,669 | +€12,722 | +63.8% |
| Other operating charges | 640/8 | €772 | €760 | -€12 | -1.6% |
| Gross operating margin | 9900 | €102,519 | €73,168 | -€29,352 | -28.6% |
| Operating profit (loss) | 9901 | €81,800 | €21,490 | -€60,310 | -73.7% |
| Financial income | 75/76B | €1,301 | €3,216 | +€1,915 | +147% |
| Recurring financial income | 75 | €1,301 | €3,216 | +€1,915 | +147% |
| Financial charges | 65/66B | €3,720 | €4,086 | +€366 | +9.8% |
| Recurring financial charges | 65 | €3,720 | €4,086 | +€366 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | €79,381 | €20,620 | -€58,761 | -74.0% |
| Income taxes | 67/77 | €15,115 | €4,757 | -€10,357 | -68.5% |
| Profit (loss) for the period | 9904 | €64,267 | €15,863 | -€48,404 | -75.3% |
| Profit (loss) for the period to be appropriated | 9905 | €64,267 | €15,863 | -€48,404 | -75.3% |
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 31 October 2026 via checked.be.