De Link: 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 Link
Largest movements
- Receivables within one year -€10,461
down €10,461 (-21.5%), from €48,697 to €38,236
of which Trade receivables: -€10,927
- Receivables after one year +€7,978
up €7,978 (+3.5%), from €227,942 to €235,920
- Cash +€5,952
up €5,952 (+145.6%), from €4,088 to €10,040
mainly Other debts (+€126,930) and Net result for the year (+€29,949)
- Other debts +€126,930
up €126,930 (+71711.9%), from €177 to €127,107
- Reserves -€81,904
down €81,904 (-25.2%), from €325,512 to €243,608
of which Distributable reserves: -€81,904
- Debts after one year -€23,464
down €23,464 (-14.0%), from €167,156 to €143,692
- Tax, wage and social debts -€9,504
down €9,504 (-22.3%), from €42,538 to €33,034
of which Taxes: -€7,504
- Trade debts -€7,137
down €7,137 (-74.7%), from €9,555 to €2,418
- Financial income -€210,933
down €210,933 (-93.9%), from €224,671 to €13,738
- Gross operating margin -€21,745
down €21,745 (-37.9%), from €57,431 to €35,686
- Financial charges +€18,236
up €18,236, from -€12,911 to €5,325
- Taxes -€18,081
down €18,081 (-63.0%), from €28,700 to €10,619
- Depreciation -€12,177
down €12,177 (-100.0%), from €12,177 to €0
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 | €586,563 | €593,385 | +€6,822 | +1.2% |
| Fixed assets | 21/28 | €275,262 | €275,262 | = | 0.0% |
| Tangible fixed assets | 22/27 | €275,262 | €275,262 | = | 0.0% |
| Land and buildings | 22 | €275,262 | €275,262 | = | 0.0% |
| Current assets | 29/58 | €311,301 | €318,124 | +€6,822 | +2.2% |
| Amounts receivable after more than one year | 29 | €227,942 | €235,920 | +€7,978 | +3.5% |
| Other amounts receivable | 291 | €227,942 | €235,920 | +€7,978 | +3.5% |
| Amounts receivable within one year | 40/41 | €48,697 | €38,236 | -€10,461 | -21.5% |
| Trade receivables | 40 | €25,387 | €14,460 | -€10,927 | -43.0% |
| Other amounts receivable | 41 | €23,310 | €23,776 | +€466 | +2.0% |
| Current investments | 50/53 | €30,446 | €33,793 | +€3,347 | +11.0% |
| Cash at bank and in hand | 54/58 | €4,088 | €10,040 | +€5,952 | +145.6% |
| Deferred charges and accrued income | 490/1 | €129 | €135 | +€6 | +4.9% |
| Total equity and liabilities | 10/49 | €586,563 | €593,385 | +€6,822 | +1.2% |
| Equity | 10/15 | €344,104 | €262,200 | -€81,904 | -23.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €325,512 | €243,608 | -€81,904 | -25.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €323,653 | €241,749 | -€81,904 | -25.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €242,459 | €331,185 | +€88,726 | +36.6% |
| Amounts payable after more than one year | 17 | €167,156 | €143,692 | -€23,464 | -14.0% |
| Financial debts | 170/4 | €167,156 | €143,692 | -€23,464 | -14.0% |
| Amounts payable within one year | 42/48 | €75,303 | €186,023 | +€110,720 | +147.0% |
| Current portion of amounts payable after more than one year | 42 | €23,033 | €23,464 | +€431 | +1.9% |
| Trade debts | 44 | €9,555 | €2,418 | -€7,137 | -74.7% |
| Suppliers | 440/4 | €9,555 | €2,418 | -€7,137 | -74.7% |
| Taxes, remuneration and social security | 45 | €42,538 | €33,034 | -€9,504 | -22.3% |
| Taxes | 450/3 | €40,538 | €33,034 | -€7,504 | -18.5% |
| Remuneration and social security | 454/9 | €2,000 | €0 | -€2,000 | -100.0% |
| Other amounts payable | 47/48 | €177 | €127,107 | +€126,930 | +71711.9% |
| Accrued charges and deferred income | 492/3 | - | €1,471 | +€1,471 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,177 | €0 | -€12,177 | -100.0% |
| Other operating charges | 640/8 | €3,141 | €3,531 | +€391 | +12.4% |
| Gross operating margin | 9900 | €57,431 | €35,686 | -€21,745 | -37.9% |
| Operating profit (loss) | 9901 | €42,113 | €32,155 | -€9,958 | -23.6% |
| Financial income | 75/76B | €224,671 | €13,738 | -€210,933 | -93.9% |
| Recurring financial income | 75 | €224,671 | €13,738 | -€210,933 | -93.9% |
| Financial charges | 65/66B | -€12,911 | €5,325 | +€18,236 | |
| Recurring financial charges | 65 | -€12,911 | €5,325 | +€18,236 | |
| Profit (loss) for the period before taxes | 9903 | €279,695 | €40,568 | -€239,127 | -85.5% |
| Income taxes | 67/77 | €28,700 | €10,619 | -€18,081 | -63.0% |
| Profit (loss) for the period | 9904 | €250,995 | €29,949 | -€221,046 | -88.1% |
| Profit (loss) for the period to be appropriated | 9905 | €250,995 | €29,949 | -€221,046 | -88.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.