DE MAILINGMAN: 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 MAILINGMAN
Largest movements
- Cash -€166,092
down €166,092 (-42.5%), from €390,848 to €224,757
mainly Trade debts (-€213,284) and Investment in fixed assets (net) (-€167,374)
- Tangible fixed assets +€104,994
up €104,994 (+32.0%), from €328,494 to €433,488
of which Leasing and similar rights: +€74,795
- Receivables within one year -€68,036
down €68,036 (-12.4%), from €548,836 to €480,800
of which Other amounts receivable: -€54,785
- Trade debts -€213,284
down €213,284 (-28.2%), from €756,497 to €543,213
- Debts after one year +€49,372
up €49,372 (+127%), from €38,915 to €88,287
- Tax, wage and social debts +€33,036
up €33,036 (+33.4%), from €99,004 to €132,040
of which Taxes: +€24,987
- Current portion of long-term debt +€19,979
up €19,979 (+99.5%), from €20,076 to €40,055
- Gross operating margin -€111,526
down €111,526 (-13.4%), from €834,230 to €722,704
- Staff costs +€24,122
up €24,122 (+3.9%), from €615,081 to €639,202
- Depreciation +€22,180
up €22,180 (+74.1%), from €29,934 to €52,114
- Taxes -€19,301
down €19,301 (-86.1%), from €22,413 to €3,112
- Financial income -€12,267
down €12,267 (-94.9%), from €12,921 to €654
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 | €1,388,269 | €1,276,822 | -€111,446 | -8.0% |
| Fixed assets | 21/28 | €330,288 | €445,548 | +€115,260 | +34.9% |
| Intangible fixed assets | 21 | €1,609 | €11,876 | +€10,267 | +638% |
| Tangible fixed assets | 22/27 | €328,494 | €433,488 | +€104,994 | +32.0% |
| Land and buildings | 22 | €275,695 | €276,856 | +€1,161 | +0.4% |
| Plant, machinery and equipment | 23 | €23,057 | €50,561 | +€27,504 | +119% |
| Furniture and vehicles | 24 | €9,124 | €10,658 | +€1,534 | +16.8% |
| Leasing and similar rights | 25 | €20,618 | €95,412 | +€74,795 | +363% |
| Financial fixed assets | 28 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €1,057,981 | €831,274 | -€226,707 | -21.4% |
| Stocks and contracts in progress | 3 | €68,942 | €70,840 | +€1,898 | +2.8% |
| Stocks | 30/36 | €68,942 | €70,840 | +€1,898 | +2.8% |
| Amounts receivable within one year | 40/41 | €548,836 | €480,800 | -€68,036 | -12.4% |
| Trade receivables | 40 | €493,901 | €480,651 | -€13,250 | -2.7% |
| Other amounts receivable | 41 | €54,935 | €149 | -€54,785 | -99.7% |
| Cash at bank and in hand | 54/58 | €390,848 | €224,757 | -€166,092 | -42.5% |
| Deferred charges and accrued income | 490/1 | €49,355 | €54,877 | +€5,523 | +11.2% |
| Total equity and liabilities | 10/49 | €1,388,269 | €1,276,822 | -€111,446 | -8.0% |
| Equity | 10/15 | €222,774 | €220,334 | -€2,440 | -1.1% |
| Contributions | 10/11 | €130,219 | €130,219 | = | 0.0% |
| Revaluation surpluses | 12 | €163,957 | €163,957 | = | 0.0% |
| Reserves | 13 | €111,034 | €111,034 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €0 | -€7,500 | -100% |
| Reserves not available under the articles | 1311 | €7,500 | €0 | -€7,500 | -100% |
| Distributable reserves | 133 | €103,534 | €111,034 | +€7,500 | +7.2% |
| Profit (loss) carried forward | 14 | -€182,437 | -€184,877 | -€2,440 | -1.3% |
| Amounts payable | 17/49 | €1,165,495 | €1,056,488 | -€109,007 | -9.4% |
| Amounts payable after more than one year | 17 | €38,915 | €88,287 | +€49,372 | +127% |
| Financial debts | 170/4 | €38,915 | €88,287 | +€49,372 | +127% |
| Amounts payable within one year | 42/48 | €1,125,895 | €967,624 | -€158,272 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €20,076 | €40,055 | +€19,979 | +99.5% |
| Financial debts | 43 | €250,320 | €244,933 | -€5,387 | -2.2% |
| Credit institutions | 430/8 | €250,320 | €244,933 | -€5,387 | -2.2% |
| Trade debts | 44 | €756,497 | €543,213 | -€213,284 | -28.2% |
| Suppliers | 440/4 | €756,497 | €543,213 | -€213,284 | -28.2% |
| Taxes, remuneration and social security | 45 | €99,004 | €132,040 | +€33,036 | +33.4% |
| Taxes | 450/3 | €9,056 | €34,042 | +€24,987 | +276% |
| Remuneration and social security | 454/9 | €89,948 | €97,998 | +€8,050 | +8.9% |
| Other amounts payable | 47/48 | - | €7,383 | +€7,383 | |
| Accrued charges and deferred income | 492/3 | €684 | €577 | -€107 | -15.7% |
| Non-recurring operating income | 76A | €750 | €1,255 | +€505 | +67.3% |
| Remuneration, social security and pensions | 62 | €615,081 | €639,202 | +€24,122 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,934 | €52,114 | +€22,180 | +74.1% |
| Other operating charges | 640/8 | €10,588 | €12,680 | +€2,092 | +19.8% |
| Gross operating margin | 9900 | €834,230 | €722,704 | -€111,526 | -13.4% |
| Operating profit (loss) | 9901 | €178,628 | €18,708 | -€159,919 | -89.5% |
| Financial income | 75/76B | €12,921 | €654 | -€12,267 | -94.9% |
| Recurring financial income | 75 | €12,921 | €654 | -€12,267 | -94.9% |
| Financial charges | 65/66B | €23,256 | €18,690 | -€4,566 | -19.6% |
| Recurring financial charges | 65 | €23,256 | €18,690 | -€4,566 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €168,293 | €672 | -€167,621 | -99.6% |
| Income taxes | 67/77 | €22,413 | €3,112 | -€19,301 | -86.1% |
| Profit (loss) for the period | 9904 | €145,880 | -€2,440 | -€148,320 | |
| Profit (loss) for the period to be appropriated | 9905 | €145,880 | -€2,440 | -€148,320 |
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 21 October 2026 via checked.be.