& DE BANDT: 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.
& DE BANDT
Largest movements
- Receivables within one year +€385,099
up €385,099 (+49.1%), from €783,792 to €1.2m
of which Trade receivables: +€406,685
- Cash +€60,284
up €60,284 (+87.2%), from €69,129 to €129,413
mainly Net result for the year (+€1.0m) and Other debts (+€365,961)
- Tangible fixed assets -€33,048
down €33,048 (-5.1%), from €644,842 to €611,793
of which Other tangible fixed assets: -€625,440
- Other debts +€365,961
up €365,961 (+55.1%), from €664,138 to €1.0m
- Trade debts +€59,403
up €59,403 (+18.7%), from €318,318 to €377,721
- Debts after one year -€24,985
down €24,985 (-17.7%), from €141,364 to €116,379
- Gross operating margin +€370,001
up €370,001 (+39.9%), from €927,760 to €1.3m
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 | €1,604,419 | €1,998,296 | +€393,876 | +24.5% |
| Fixed assets | 21/28 | €644,842 | €611,793 | -€33,048 | -5.1% |
| Tangible fixed assets | 22/27 | €644,842 | €611,793 | -€33,048 | -5.1% |
| Plant, machinery and equipment | 23 | €18,309 | €85,383 | +€67,075 | +366% |
| Furniture and vehicles | 24 | €1,093 | €6,881 | +€5,787 | +529% |
| Leasing and similar rights | 25 | - | €519,529 | +€519,529 | |
| Other tangible fixed assets | 26 | €625,440 | - | -€625,440 | |
| Current assets | 29/58 | €959,578 | €1,386,502 | +€426,924 | +44.5% |
| Amounts receivable within one year | 40/41 | €783,792 | €1,168,891 | +€385,099 | +49.1% |
| Trade receivables | 40 | €732,024 | €1,138,709 | +€406,685 | +55.6% |
| Other amounts receivable | 41 | €51,768 | €30,182 | -€21,586 | -41.7% |
| Cash at bank and in hand | 54/58 | €69,129 | €129,413 | +€60,284 | +87.2% |
| Deferred charges and accrued income | 490/1 | €106,657 | €88,198 | -€18,459 | -17.3% |
| Total equity and liabilities | 10/49 | €1,604,419 | €1,998,296 | +€393,876 | +24.5% |
| Equity | 10/15 | €431,146 | €435,190 | +€4,044 | +0.9% |
| Contributions | 10/11 | €129,178 | €132,708 | +€3,530 | +2.7% |
| Reserves | 13 | €301,722 | €301,722 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,722 | €11,722 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,722 | €11,722 | = | 0.0% |
| Distributable reserves | 133 | €290,000 | €290,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €245 | €760 | +€515 | +210% |
| Amounts payable | 17/49 | €1,173,274 | €1,563,106 | +€389,832 | +33.2% |
| Amounts payable after more than one year | 17 | €141,364 | €116,379 | -€24,985 | -17.7% |
| Financial debts | 170/4 | €141,364 | €116,379 | -€24,985 | -17.7% |
| Amounts payable within one year | 42/48 | €1,031,758 | €1,446,299 | +€414,541 | +40.2% |
| Current portion of amounts payable after more than one year | 42 | €29,766 | €24,985 | -€4,781 | -16.1% |
| Trade debts | 44 | €318,318 | €377,721 | +€59,403 | +18.7% |
| Suppliers | 440/4 | €318,318 | €377,721 | +€59,403 | +18.7% |
| Taxes, remuneration and social security | 45 | €19,537 | €13,495 | -€6,042 | -30.9% |
| Remuneration and social security | 454/9 | €19,537 | €13,495 | -€6,042 | -30.9% |
| Other amounts payable | 47/48 | €664,138 | €1,030,099 | +€365,961 | +55.1% |
| Accrued charges and deferred income | 492/3 | €152 | €428 | +€276 | +182% |
| Remuneration, social security and pensions | 62 | €160,538 | €155,692 | -€4,847 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,402 | €87,365 | +€2,963 | +3.5% |
| Other operating charges | 640/8 | €17,999 | €18,029 | +€31 | +0.2% |
| Gross operating margin | 9900 | €927,760 | €1,297,762 | +€370,001 | +39.9% |
| Operating profit (loss) | 9901 | €664,822 | €1,036,676 | +€371,854 | +55.9% |
| Financial income | 75/76B | €27 | €55 | +€28 | +105% |
| Recurring financial income | 75 | €27 | €55 | +€28 | +105% |
| Financial charges | 65/66B | €3,621 | €3,216 | -€405 | -11.2% |
| Recurring financial charges | 65 | €3,621 | €3,216 | -€405 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €661,228 | €1,033,515 | +€372,287 | +56.3% |
| Income taxes | 67/77 | - | €3,000 | +€3,000 | |
| Profit (loss) for the period | 9904 | €661,228 | €1,030,515 | +€369,287 | +55.8% |
| Profit (loss) for the period to be appropriated | 9905 | €661,228 | €1,030,515 | +€369,287 | +55.8% |
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 28 October 2026 via checked.be.