DE DONDER: 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 DONDER
Largest movements
- Receivables within one year +€539,366
up €539,366 (+150%), from €358,582 to €897,948
of which Trade receivables: +€487,868
- Cash +€297,887
up €297,887 (+56.0%), from €532,202 to €830,089
mainly Advances received (+€366,303) and Trade debts (+€326,239)
- Receivables after one year -€58,622
down €58,622 (-26.8%), from €218,661 to €160,040
- Advances received +€366,303
up €366,303 (+96.7%), from €378,717 to €745,020
- Trade debts +€326,239
up €326,239 (+93.0%), from €350,629 to €676,868
- Other debts +€183,895
up €183,895 (+3,992%), from €4,607 to €188,502
- Reserves -€141,880
down €141,880 (-33.8%), from €419,438 to €277,557
- Short-term financial debts +€54,538
up €54,538 (+119%), from €45,747 to €100,285
- Gross operating margin +€102,508
up €102,508 (+31.6%), from €324,507 to €427,015
- Staff costs +€100,086
up €100,086 (+180%), from €55,513 to €155,599
- Financial income +€15,808
up €15,808 (+166%), from €9,548 to €25,356
of which Financial income: +€15,808
- Financial charges +€13,340
up €13,340 (+449%), from €2,968 to €16,308
- Other operating charges +€7,265
up €7,265 (+145%), from €4,999 to €12,264
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 | €1,214,735 | €2,017,388 | +€802,653 | +66.1% |
| Fixed assets | 21/28 | €16,642 | €22,359 | +€5,717 | +34.4% |
| Tangible fixed assets | 22/27 | €16,642 | €22,359 | +€5,717 | +34.4% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €3,927 | €11,295 | +€7,368 | +188% |
| Other tangible fixed assets | 26 | €12,715 | €11,064 | -€1,651 | -13.0% |
| Current assets | 29/58 | €1,198,093 | €1,995,029 | +€796,936 | +66.5% |
| Amounts receivable after more than one year | 29 | €218,661 | €160,040 | -€58,622 | -26.8% |
| Other amounts receivable | 291 | €218,661 | €160,040 | -€58,622 | -26.8% |
| Stocks and contracts in progress | 3 | €83,893 | €92,019 | +€8,126 | +9.7% |
| Stocks | 30/36 | €66,536 | €92,019 | +€25,483 | +38.3% |
| Contracts in progress | 37 | €17,357 | €0 | -€17,357 | -100% |
| Amounts receivable within one year | 40/41 | €358,582 | €897,948 | +€539,366 | +150% |
| Trade receivables | 40 | €277,973 | €765,841 | +€487,868 | +176% |
| Other amounts receivable | 41 | €80,609 | €132,107 | +€51,498 | +63.9% |
| Cash at bank and in hand | 54/58 | €532,202 | €830,089 | +€297,887 | +56.0% |
| Deferred charges and accrued income | 490/1 | €4,755 | €14,933 | +€10,179 | +214% |
| Total equity and liabilities | 10/49 | €1,214,735 | €2,017,388 | +€802,653 | +66.1% |
| Equity | 10/15 | €429,438 | €287,557 | -€141,880 | -33.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €419,438 | €277,557 | -€141,880 | -33.8% |
| Distributable reserves | 133 | €419,438 | €277,557 | -€141,880 | -33.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €785,297 | €1,729,831 | +€944,534 | +120% |
| Amounts payable within one year | 42/48 | €785,297 | €1,729,831 | +€944,534 | +120% |
| Financial debts | 43 | €45,747 | €100,285 | +€54,538 | +119% |
| Credit institutions | 430/8 | €45,747 | €100,285 | +€54,538 | +119% |
| Trade debts | 44 | €350,629 | €676,868 | +€326,239 | +93.0% |
| Suppliers | 440/4 | €350,629 | €676,868 | +€326,239 | +93.0% |
| Advances received on contracts in progress | 46 | €378,717 | €745,020 | +€366,303 | +96.7% |
| Taxes, remuneration and social security | 45 | €5,598 | €19,157 | +€13,559 | +242% |
| Taxes | 450/3 | €685 | €1,086 | +€401 | +58.5% |
| Remuneration and social security | 454/9 | €4,913 | €18,071 | +€13,158 | +268% |
| Other amounts payable | 47/48 | €4,607 | €188,502 | +€183,895 | +3,992% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €55,513 | €155,599 | +€100,086 | +180% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,725 | €6,883 | +€4,158 | +153% |
| Other operating charges | 640/8 | €4,999 | €12,264 | +€7,265 | +145% |
| Non-recurring operating charges | 66A | - | €387 | +€387 | |
| Gross operating margin | 9900 | €324,507 | €427,015 | +€102,508 | +31.6% |
| Operating profit (loss) | 9901 | €261,270 | €251,882 | -€9,388 | -3.6% |
| Financial income | 75/76B | €9,548 | €25,356 | +€15,808 | +166% |
| Recurring financial income | 75 | €9,548 | €25,356 | +€15,808 | +166% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €2,968 | €16,308 | +€13,340 | +449% |
| Recurring financial charges | 65 | €2,968 | €16,308 | +€13,340 | +449% |
| Profit (loss) for the period before taxes | 9903 | €267,850 | €260,930 | -€6,920 | -2.6% |
| Income taxes | 67/77 | €70,255 | €72,794 | +€2,539 | +3.6% |
| Profit (loss) for the period | 9904 | €197,595 | €188,137 | -€9,459 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €197,595 | €188,137 | -€9,459 | -4.8% |
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 16 October 2026 via checked.be.