DE FIL ET D'EAU: 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 FIL ET D'EAU
Largest movements
- Receivables within one year +€39,312
up €39,312 (+143%), from €27,444 to €66,756
of which Trade receivables: +€34,837
- Cash -€28,300
down €28,300 (-66.7%), from €42,439 to €14,139
mainly Receivables within one year (-€39,312) and Investment in fixed assets (net) (-€14,598)
- Tangible fixed assets +€10,531
up €10,531 (+421%), from €2,500 to €13,031
of which Furniture and vehicles: +€10,865
- Stocks and contracts -€3,783
down €3,783 (-12.2%), from €31,128 to €27,345
- Profit (loss) carried forward +€27,929
up €27,929 (+55.5%), from €50,340 to €78,269
- Trade debts -€11,511
down €11,511 (-72.3%), from €15,917 to €4,405
- Gross operating margin -€8,188
down €8,188 (-12.4%), from €66,208 to €58,020
- Depreciation +€2,066
up €2,066 (+64.5%), from €3,202 to €5,268
- Staff costs -€1,050
down €1,050 (-7.4%), from €14,279 to €13,229
- Taxes -€988
down €988 (-9.5%), from €10,362 to €9,374
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 | €106,395 | €123,157 | +€16,762 | +15.8% |
| Formation expenses | 20 | €698 | €96 | -€602 | -86.2% |
| Fixed assets | 21/28 | €4,450 | €14,381 | +€9,931 | +223% |
| Intangible fixed assets | 21 | €1,950 | €1,350 | -€600 | -30.8% |
| Tangible fixed assets | 22/27 | €2,500 | €13,031 | +€10,531 | +421% |
| Plant, machinery and equipment | 23 | €417 | €83 | -€333 | -80.0% |
| Furniture and vehicles | 24 | €2,083 | €12,948 | +€10,865 | +522% |
| Current assets | 29/58 | €101,247 | €108,679 | +€7,432 | +7.3% |
| Stocks and contracts in progress | 3 | €31,128 | €27,345 | -€3,783 | -12.2% |
| Stocks | 30/36 | €31,128 | €27,345 | -€3,783 | -12.2% |
| Amounts receivable within one year | 40/41 | €27,444 | €66,756 | +€39,312 | +143% |
| Trade receivables | 40 | €21,249 | €56,087 | +€34,837 | +164% |
| Other amounts receivable | 41 | €6,195 | €10,669 | +€4,474 | +72.2% |
| Cash at bank and in hand | 54/58 | €42,439 | €14,139 | -€28,300 | -66.7% |
| Deferred charges and accrued income | 490/1 | €235 | €439 | +€203 | +86.4% |
| Total equity and liabilities | 10/49 | €106,395 | €123,157 | +€16,762 | +15.8% |
| Equity | 10/15 | €53,840 | €81,769 | +€27,929 | +51.9% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,340 | €78,269 | +€27,929 | +55.5% |
| Amounts payable | 17/49 | €52,555 | €41,388 | -€11,167 | -21.2% |
| Amounts payable after more than one year | 17 | €13,373 | €12,521 | -€852 | -6.4% |
| Financial debts | 170/4 | €13,373 | €12,521 | -€852 | -6.4% |
| Amounts payable within one year | 42/48 | €39,134 | €28,837 | -€10,297 | -26.3% |
| Current portion of amounts payable after more than one year | 42 | €15,805 | €16,709 | +€904 | +5.7% |
| Trade debts | 44 | €15,917 | €4,405 | -€11,511 | -72.3% |
| Suppliers | 440/4 | €15,917 | €4,405 | -€11,511 | -72.3% |
| Taxes, remuneration and social security | 45 | €7,412 | €7,723 | +€311 | +4.2% |
| Taxes | 450/3 | €7,412 | €7,723 | +€311 | +4.2% |
| Accrued charges and deferred income | 492/3 | €49 | €30 | -€19 | -38.7% |
| Remuneration, social security and pensions | 62 | €14,279 | €13,229 | -€1,050 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,202 | €5,268 | +€2,066 | +64.5% |
| Other operating charges | 640/8 | €403 | €688 | +€285 | +70.8% |
| Non-recurring operating charges | 66A | €6,902 | - | -€6,902 | |
| Gross operating margin | 9900 | €66,208 | €58,020 | -€8,188 | -12.4% |
| Operating profit (loss) | 9901 | €41,423 | €38,835 | -€2,588 | -6.2% |
| Financial income | 75/76B | €155 | €171 | +€16 | +10.6% |
| Recurring financial income | 75 | €155 | €171 | +€16 | +10.6% |
| Financial charges | 65/66B | €2,076 | €1,703 | -€373 | -18.0% |
| Recurring financial charges | 65 | €2,076 | €1,703 | -€373 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €39,502 | €37,303 | -€2,199 | -5.6% |
| Income taxes | 67/77 | €10,362 | €9,374 | -€988 | -9.5% |
| Profit (loss) for the period | 9904 | €29,140 | €27,929 | -€1,211 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €29,140 | €27,929 | -€1,211 | -4.2% |
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 25 October 2026 via checked.be.