DE DONCKER: 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 DONCKER
Largest movements
- Tangible fixed assets -€409,545
down €409,545 (-80.5%), from €508,773 to €99,229
of which Land and buildings: -€334,680
- Receivables within one year +€359,290
up €359,290 (+23.4%), from €1.5m to €1.9m
of which Trade receivables: +€358,350
- Cash -€143,357
down €143,357 (-43.4%), from €330,379 to €187,022
mainly Receivables within one year (-€359,290) and Net result for the year (-€245,572)
- Profit (loss) carried forward -€245,572
new in 2025: -€245,572
- Trade debts +€120,846
up €120,846 (+43.6%), from €277,260 to €398,106
- Other debts -€49,057
down €49,057 (-12.5%), from €392,870 to €343,813
- Tax, wage and social debts -€47,960
down €47,960 (-31.8%), from €150,671 to €102,710
of which Taxes: -€42,626
- Gross operating margin -€291,341
down €291,341 (-22.5%), from €1.3m to €1.0m
- Staff costs -€119,551
down €119,551 (-10.1%), from €1.2m to €1.1m
- Financial income -€13,883
down €13,883 (-40.0%), from €34,683 to €20,801
- Depreciation +€13,368
up €13,368 (+19.1%), from €70,059 to €83,427
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 | €3,289,239 | €3,054,810 | -€234,429 | -7.1% |
| Fixed assets | 21/28 | €539,993 | €130,449 | -€409,545 | -75.8% |
| Tangible fixed assets | 22/27 | €508,773 | €99,229 | -€409,545 | -80.5% |
| Land and buildings | 22 | €361,163 | €26,482 | -€334,680 | -92.7% |
| Plant, machinery and equipment | 23 | €137,331 | €60,649 | -€76,682 | -55.8% |
| Furniture and vehicles | 24 | €6,871 | €8,868 | +€1,997 | +29.1% |
| Leasing and similar rights | 25 | €3,410 | €3,229 | -€180 | -5.3% |
| Financial fixed assets | 28 | €31,220 | €31,220 | = | 0.0% |
| Current assets | 29/58 | €2,749,246 | €2,924,361 | +€175,115 | +6.4% |
| Stocks and contracts in progress | 3 | €834,408 | €806,630 | -€27,778 | -3.3% |
| Stocks | 30/36 | €621,963 | €462,645 | -€159,318 | -25.6% |
| Contracts in progress | 37 | €212,446 | €343,986 | +€131,540 | +61.9% |
| Amounts receivable within one year | 40/41 | €1,533,775 | €1,893,064 | +€359,290 | +23.4% |
| Trade receivables | 40 | €1,533,007 | €1,891,357 | +€358,350 | +23.4% |
| Other amounts receivable | 41 | €768 | €1,707 | +€940 | +122.4% |
| Cash at bank and in hand | 54/58 | €330,379 | €187,022 | -€143,357 | -43.4% |
| Deferred charges and accrued income | 490/1 | €50,683 | €37,644 | -€13,039 | -25.7% |
| Total equity and liabilities | 10/49 | €3,289,239 | €3,054,810 | -€234,429 | -7.1% |
| Equity | 10/15 | €2,443,752 | €2,198,180 | -€245,572 | -10.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €2,393,752 | €2,393,752 | = | 0.0% |
| Tax-exempt reserves | 132 | €34,705 | €34,705 | = | 0.0% |
| Distributable reserves | 133 | €2,359,047 | €2,359,047 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€245,572 | -€245,572 | |
| Amounts payable | 17/49 | €845,487 | €856,629 | +€11,142 | +1.3% |
| Amounts payable after more than one year | 17 | €7,500 | €0 | -€7,500 | -100.0% |
| Financial debts | 170/4 | €7,500 | €0 | -€7,500 | -100.0% |
| Amounts payable within one year | 42/48 | €835,801 | €852,129 | +€16,329 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €15,000 | €7,500 | -€7,500 | -50.0% |
| Trade debts | 44 | €277,260 | €398,106 | +€120,846 | +43.6% |
| Suppliers | 440/4 | €277,260 | €398,106 | +€120,846 | +43.6% |
| Taxes, remuneration and social security | 45 | €150,671 | €102,710 | -€47,960 | -31.8% |
| Taxes | 450/3 | €68,563 | €25,938 | -€42,626 | -62.2% |
| Remuneration and social security | 454/9 | €82,107 | €76,773 | -€5,335 | -6.5% |
| Other amounts payable | 47/48 | €392,870 | €343,813 | -€49,057 | -12.5% |
| Accrued charges and deferred income | 492/3 | €2,186 | €4,500 | +€2,314 | +105.8% |
| Non-recurring operating income | 76A | - | €53,250 | +€53,250 | |
| Remuneration, social security and pensions | 62 | €1,178,324 | €1,058,773 | -€119,551 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,059 | €83,427 | +€13,368 | +19.1% |
| Other operating charges | 640/8 | €30,026 | €33,814 | +€3,788 | +12.6% |
| Non-recurring operating charges | 66A | €109,600 | €89,962 | -€19,638 | -17.9% |
| Gross operating margin | 9900 | €1,297,578 | €1,006,237 | -€291,341 | -22.5% |
| Operating profit (loss) | 9901 | -€90,431 | -€259,739 | -€169,308 | -187.2% |
| Financial income | 75/76B | €34,683 | €20,801 | -€13,883 | -40.0% |
| Recurring financial income | 75 | €34,683 | €20,801 | -€13,883 | -40.0% |
| Financial charges | 65/66B | €5,988 | €5,618 | -€370 | -6.2% |
| Recurring financial charges | 65 | €5,988 | €5,618 | -€370 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | -€61,735 | -€244,556 | -€182,821 | -296.1% |
| Income taxes | 67/77 | €974 | €1,015 | +€41 | +4.2% |
| Profit (loss) for the period | 9904 | -€62,709 | -€245,572 | -€182,862 | -291.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€62,709 | -€245,572 | -€182,862 | -291.6% |
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.