DE MAY: 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 MAY
Largest movements
- Cash -€58,805
down €58,805 (-70.8%), from €83,050 to €24,245
mainly Contributions, distributions and other (-€123,555) and Other debts (-€11,107)
- Receivables within one year -€28,666
down €28,666 (-79.6%), from €36,009 to €7,344
of which Other amounts receivable: -€29,023
- Intangible fixed assets -€10,000
down €10,000 (-16.5%), from €60,548 to €50,548
- Profit (loss) carried forward -€76,543
down €76,543 (-60.7%), from €126,130 to €49,587
- Other debts -€11,107
down €11,107 (-26.1%), from €42,500 to €31,393
- Tax, wage and social debts -€7,624
down €7,624 (-79.4%), from €9,602 to €1,978
of which Taxes: -€7,624
- Gross operating margin -€6,795
down €6,795 (-8.0%), from €85,089 to €78,294
- Taxes -€2,081
down €2,081 (-10.9%), from €19,086 to €17,005
- Financial income -€1,272
down €1,272 (-83.8%), from €1,519 to €247
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 | €186,122 | €86,903 | -€99,219 | -53.3% |
| Fixed assets | 21/28 | €64,766 | €54,184 | -€10,582 | -16.3% |
| Intangible fixed assets | 21 | €60,548 | €50,548 | -€10,000 | -16.5% |
| Tangible fixed assets | 22/27 | €4,113 | €3,531 | -€582 | -14.2% |
| Plant, machinery and equipment | 23 | €2,447 | €2,991 | +€544 | +22.2% |
| Furniture and vehicles | 24 | €124 | €6 | -€117 | -94.8% |
| Other tangible fixed assets | 26 | €1,542 | €533 | -€1,008 | -65.4% |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €121,356 | €32,719 | -€88,637 | -73.0% |
| Amounts receivable within one year | 40/41 | €36,009 | €7,344 | -€28,666 | -79.6% |
| Trade receivables | 40 | - | €357 | +€357 | |
| Other amounts receivable | 41 | €36,009 | €6,987 | -€29,023 | -80.6% |
| Cash at bank and in hand | 54/58 | €83,050 | €24,245 | -€58,805 | -70.8% |
| Deferred charges and accrued income | 490/1 | €2,297 | €1,131 | -€1,166 | -50.8% |
| Total equity and liabilities | 10/49 | €186,122 | €86,903 | -€99,219 | -53.3% |
| Equity | 10/15 | €129,130 | €52,587 | -€76,543 | -59.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €126,130 | €49,587 | -€76,543 | -60.7% |
| Amounts payable | 17/49 | €56,992 | €34,316 | -€22,676 | -39.8% |
| Amounts payable after more than one year | 17 | €620 | - | -€620 | |
| Financial debts | 170/4 | €620 | - | -€620 | |
| Amounts payable within one year | 42/48 | €56,281 | €34,226 | -€22,055 | -39.2% |
| Current portion of amounts payable after more than one year | 42 | €2,413 | €620 | -€1,792 | -74.3% |
| Trade debts | 44 | €1,766 | €234 | -€1,532 | -86.7% |
| Suppliers | 440/4 | €1,766 | €234 | -€1,532 | -86.7% |
| Taxes, remuneration and social security | 45 | €9,602 | €1,978 | -€7,624 | -79.4% |
| Taxes | 450/3 | €7,624 | - | -€7,624 | |
| Remuneration and social security | 454/9 | €1,978 | €1,978 | = | 0.0% |
| Other amounts payable | 47/48 | €42,500 | €31,393 | -€11,107 | -26.1% |
| Accrued charges and deferred income | 492/3 | €91 | €91 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,714 | €12,193 | +€479 | +4.1% |
| Other operating charges | 640/8 | €2,192 | €1,541 | -€651 | -29.7% |
| Gross operating margin | 9900 | €85,089 | €78,294 | -€6,795 | -8.0% |
| Operating profit (loss) | 9901 | €71,183 | €64,560 | -€6,623 | -9.3% |
| Financial income | 75/76B | €1,519 | €247 | -€1,272 | -83.8% |
| Recurring financial income | 75 | €1,519 | €247 | -€1,272 | -83.8% |
| Financial charges | 65/66B | €1,041 | €790 | -€251 | -24.1% |
| Recurring financial charges | 65 | €1,041 | €790 | -€251 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €71,661 | €64,017 | -€7,644 | -10.7% |
| Income taxes | 67/77 | €19,086 | €17,005 | -€2,081 | -10.9% |
| Profit (loss) for the period | 9904 | €52,575 | €47,012 | -€5,563 | -10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €52,575 | €47,012 | -€5,563 | -10.6% |
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 5 October 2026 via checked.be.