DE-AL: 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.
DE-AL
Largest movements
- Current investments +€35,555
up €35,555 (+9.0%), from €393,955 to €429,511
- Receivables within one year -€33,931
down €33,931 (-47.3%), from €71,673 to €37,742
of which Trade receivables: -€44,556
- Cash +€21,791
up €21,791 (+61.2%), from €35,619 to €57,410
mainly Net result for the year (+€46,800) and Receivables within one year (+€33,931)
- Tangible fixed assets -€19,504
down €19,504 (-28.2%), from €69,063 to €49,559
of which Furniture and vehicles: -€18,226
- Reserves +€42,351
up €42,351 (+9.5%), from €443,968 to €486,319
- Tax, wage and social debts -€16,186
down €16,186 (-56.2%), from €28,810 to €12,624
of which Taxes: -€16,556
- Debts after one year -€14,995
down €14,995 (-31.1%), from €48,264 to €33,269
- Current portion of long-term debt -€11,727
down €11,727 (-32.2%), from €36,398 to €24,672
- Gross operating margin -€20,088
down €20,088 (-17.6%), from €114,223 to €94,135
- Depreciation -€10,486
down €10,486 (-35.0%), from €29,991 to €19,504
- Taxes -€2,144
down €2,144 (-7.6%), from €28,385 to €26,241
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €576,336 | €579,785 | +€3,449 | +0.6% |
| Fixed assets | 21/28 | €69,063 | €49,559 | -€19,504 | -28.2% |
| Tangible fixed assets | 22/27 | €69,063 | €49,559 | -€19,504 | -28.2% |
| Plant, machinery and equipment | 23 | €904 | €477 | -€427 | -47.2% |
| Furniture and vehicles | 24 | €61,876 | €43,650 | -€18,226 | -29.5% |
| Other tangible fixed assets | 26 | €6,284 | €5,433 | -€851 | -13.5% |
| Current assets | 29/58 | €507,272 | €530,226 | +€22,954 | +4.5% |
| Amounts receivable within one year | 40/41 | €71,673 | €37,742 | -€33,931 | -47.3% |
| Trade receivables | 40 | €67,695 | €23,138 | -€44,556 | -65.8% |
| Other amounts receivable | 41 | €3,979 | €14,604 | +€10,625 | +267.0% |
| Current investments | 50/53 | €393,955 | €429,511 | +€35,555 | +9.0% |
| Cash at bank and in hand | 54/58 | €35,619 | €57,410 | +€21,791 | +61.2% |
| Deferred charges and accrued income | 490/1 | €6,025 | €5,563 | -€462 | -7.7% |
| Total equity and liabilities | 10/49 | €576,336 | €579,785 | +€3,449 | +0.6% |
| Equity | 10/15 | €462,518 | €504,869 | +€42,351 | +9.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €443,968 | €486,319 | +€42,351 | +9.5% |
| Distributable reserves | 133 | €443,968 | €486,319 | +€42,351 | +9.5% |
| Amounts payable | 17/49 | €113,817 | €74,916 | -€38,901 | -34.2% |
| Amounts payable after more than one year | 17 | €48,264 | €33,269 | -€14,995 | -31.1% |
| Financial debts | 170/4 | €48,264 | €33,269 | -€14,995 | -31.1% |
| Amounts payable within one year | 42/48 | €65,553 | €41,647 | -€23,906 | -36.5% |
| Current portion of amounts payable after more than one year | 42 | €36,398 | €24,672 | -€11,727 | -32.2% |
| Trade debts | 44 | €345 | €4,352 | +€4,007 | +1162.6% |
| Suppliers | 440/4 | €345 | €4,352 | +€4,007 | +1162.6% |
| Taxes, remuneration and social security | 45 | €28,810 | €12,624 | -€16,186 | -56.2% |
| Taxes | 450/3 | €28,468 | €11,912 | -€16,556 | -58.2% |
| Remuneration and social security | 454/9 | €342 | €712 | +€370 | +108.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,991 | €19,504 | -€10,486 | -35.0% |
| Other operating charges | 640/8 | €1,246 | €1,095 | -€151 | -12.1% |
| Gross operating margin | 9900 | €114,223 | €94,135 | -€20,088 | -17.6% |
| Operating profit (loss) | 9901 | €82,986 | €73,535 | -€9,451 | -11.4% |
| Financial income | 75/76B | €1,668 | €1,931 | +€263 | +15.8% |
| Recurring financial income | 75 | €1,668 | €1,931 | +€263 | +15.8% |
| Financial charges | 65/66B | €3,137 | €2,425 | -€712 | -22.7% |
| Recurring financial charges | 65 | €3,137 | €2,425 | -€712 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €81,517 | €73,041 | -€8,476 | -10.4% |
| Income taxes | 67/77 | €28,385 | €26,241 | -€2,144 | -7.6% |
| Profit (loss) for the period | 9904 | €53,131 | €46,800 | -€6,332 | -11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €53,131 | €46,800 | -€6,332 | -11.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.