DE DONCKER D.: 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 D.
Largest movements
- Cash +€56,078
up €56,078 (+51.3%), from €109,353 to €165,431
mainly Tax, wage and social debts (+€48,082) and Depreciation (+€29,580)
- Tangible fixed assets +€32,467
up €32,467 (+17.4%), from €186,909 to €219,376
of which Leasing and similar rights: +€37,224
- Receivables within one year -€17,821
down €17,821 (-4.2%), from €426,473 to €408,652
of which Trade receivables: -€51,275
- Stocks and contracts +€13,384
up €13,384 (+8.0%), from €167,960 to €181,344
- Tax, wage and social debts +€48,082
up €48,082 (+128.2%), from €37,498 to €85,580
of which Remuneration and social security: +€41,812
- Profit (loss) carried forward -€18,882
down €18,882 (-33.2%), from -€56,816 to -€75,698
- Trade debts +€16,047
up €16,047 (+3.4%), from €472,824 to €488,871
- Debts after one year +€10,396
up €10,396 (+11.5%), from €90,398 to €100,794
- Staff costs +€57,133
up €57,133 (+9.2%), from €620,973 to €678,106
- Other operating charges -€34,545
down €34,545 (-82.2%), from €42,025 to €7,480
- Gross operating margin -€19,859
down €19,859 (-2.8%), from €714,039 to €694,180
- Taxes -€12,955
down €12,955 (-97.2%), from €13,332 to €377
- Depreciation +€12,324
up €12,324 (+71.4%), from €17,256 to €29,580
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 | €932,076 | €1,006,021 | +€73,945 | +7.9% |
| Fixed assets | 21/28 | €208,931 | €235,997 | +€27,066 | +13.0% |
| Intangible fixed assets | 21 | €21,731 | €16,330 | -€5,401 | -24.9% |
| Tangible fixed assets | 22/27 | €186,909 | €219,376 | +€32,467 | +17.4% |
| Land and buildings | 22 | €132,534 | €127,575 | -€4,960 | -3.7% |
| Plant, machinery and equipment | 23 | €17,584 | €16,791 | -€794 | -4.5% |
| Furniture and vehicles | 24 | €1,470 | €1,672 | +€202 | +13.8% |
| Leasing and similar rights | 25 | €35,320 | €72,544 | +€37,224 | +105.4% |
| Other tangible fixed assets | 26 | - | €795 | +€795 | |
| Financial fixed assets | 28 | €291 | €291 | = | 0.0% |
| Current assets | 29/58 | €723,146 | €770,024 | +€46,879 | +6.5% |
| Stocks and contracts in progress | 3 | €167,960 | €181,344 | +€13,384 | +8.0% |
| Stocks | 30/36 | €167,960 | €181,344 | +€13,384 | +8.0% |
| Amounts receivable within one year | 40/41 | €426,473 | €408,652 | -€17,821 | -4.2% |
| Trade receivables | 40 | €383,801 | €332,526 | -€51,275 | -13.4% |
| Other amounts receivable | 41 | €42,672 | €76,125 | +€33,453 | +78.4% |
| Cash at bank and in hand | 54/58 | €109,353 | €165,431 | +€56,078 | +51.3% |
| Deferred charges and accrued income | 490/1 | €19,360 | €14,598 | -€4,762 | -24.6% |
| Total equity and liabilities | 10/49 | €932,076 | €1,006,021 | +€73,945 | +7.9% |
| Equity | 10/15 | -€38,216 | -€57,098 | -€18,882 | -49.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,816 | -€75,698 | -€18,882 | -33.2% |
| Amounts payable | 17/49 | €970,292 | €1,063,119 | +€92,827 | +9.6% |
| Amounts payable after more than one year | 17 | €90,398 | €100,794 | +€10,396 | +11.5% |
| Financial debts | 170/4 | €90,398 | €100,794 | +€10,396 | +11.5% |
| Amounts payable within one year | 42/48 | €879,894 | €962,325 | +€82,431 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €20,078 | €28,624 | +€8,546 | +42.6% |
| Financial debts | 43 | €107,500 | €107,500 | = | 0.0% |
| Credit institutions | 430/8 | €107,500 | €107,500 | = | 0.0% |
| Trade debts | 44 | €472,824 | €488,871 | +€16,047 | +3.4% |
| Suppliers | 440/4 | €472,824 | €488,871 | +€16,047 | +3.4% |
| Advances received on contracts in progress | 46 | €231,994 | €241,750 | +€9,756 | +4.2% |
| Taxes, remuneration and social security | 45 | €37,498 | €85,580 | +€48,082 | +128.2% |
| Taxes | 450/3 | €5,832 | €12,102 | +€6,270 | +107.5% |
| Remuneration and social security | 454/9 | €31,666 | €73,478 | +€41,812 | +132.0% |
| Other amounts payable | 47/48 | €10,000 | €10,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €620,973 | €678,106 | +€57,133 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,256 | €29,580 | +€12,324 | +71.4% |
| Other operating charges | 640/8 | €42,025 | €7,480 | -€34,545 | -82.2% |
| Gross operating margin | 9900 | €714,039 | €694,180 | -€19,859 | -2.8% |
| Operating profit (loss) | 9901 | €33,785 | -€20,987 | -€54,772 | |
| Financial income | 75/76B | €16,866 | €13,455 | -€3,411 | -20.2% |
| Recurring financial income | 75 | €16,866 | €13,455 | -€3,411 | -20.2% |
| Financial charges | 65/66B | €12,229 | €10,974 | -€1,255 | -10.3% |
| Recurring financial charges | 65 | €12,229 | €10,974 | -€1,255 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €38,422 | -€18,505 | -€56,928 | |
| Income taxes | 67/77 | €13,332 | €377 | -€12,955 | -97.2% |
| Profit (loss) for the period | 9904 | €25,090 | -€18,882 | -€43,972 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,090 | -€18,882 | -€43,972 |
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 8 October 2026 via checked.be.