De Page Management: 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 Page Management
Largest movements
- Receivables within one year +€5,523
up €5,523 (+31.0%), from €17,792 to €23,315
of which Trade receivables: +€6,677
- Cash +€3,726
up €3,726 (+6.7%), from €55,565 to €59,291
mainly Net result for the year (+€78,166) and Tax, wage and social debts (+€22,706)
- Tangible fixed assets -€1,632
down €1,632 (-34.0%), from €4,801 to €3,169
- Deferred charges and accrued income +€972
up €972 (+59.1%), from €1,644 to €2,617
- Tax, wage and social debts +€22,706
up €22,706 (+132.3%), from €17,169 to €39,875
- Other debts -€15,675
down €15,675 (-30.1%), from €51,992 to €36,317
- Trade debts +€1,559
up €1,559 (+243.4%), from €641 to €2,200
- Gross operating margin +€30,544
up €30,544 (+41.8%), from €73,010 to €103,553
- Financial income -€6,965
down €6,965 (-97.7%), from €7,129 to €165
- Taxes +€6,349
up €6,349 (+42.2%), from €15,050 to €21,399
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 | €79,802 | €88,391 | +€8,590 | +10.8% |
| Fixed assets | 21/28 | €4,801 | €3,169 | -€1,632 | -34.0% |
| Tangible fixed assets | 22/27 | €4,801 | €3,169 | -€1,632 | -34.0% |
| Furniture and vehicles | 24 | €4,801 | €3,169 | -€1,632 | -34.0% |
| Current assets | 29/58 | €75,000 | €85,222 | +€10,222 | +13.6% |
| Amounts receivable within one year | 40/41 | €17,792 | €23,315 | +€5,523 | +31.0% |
| Trade receivables | 40 | €16,638 | €23,315 | +€6,677 | +40.1% |
| Other amounts receivable | 41 | €1,154 | €0 | -€1,154 | -100.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €55,565 | €59,291 | +€3,726 | +6.7% |
| Deferred charges and accrued income | 490/1 | €1,644 | €2,617 | +€972 | +59.1% |
| Total equity and liabilities | 10/49 | €79,802 | €88,391 | +€8,590 | +10.8% |
| Equity | 10/15 | €10,000 | €10,000 | = | 0.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €69,802 | €78,391 | +€8,590 | +12.3% |
| Amounts payable within one year | 42/48 | €69,802 | €78,391 | +€8,590 | +12.3% |
| Trade debts | 44 | €641 | €2,200 | +€1,559 | +243.4% |
| Suppliers | 440/4 | €641 | €2,200 | +€1,559 | +243.4% |
| Taxes, remuneration and social security | 45 | €17,169 | €39,875 | +€22,706 | +132.3% |
| Taxes | 450/3 | €17,169 | €39,875 | +€22,706 | +132.3% |
| Other amounts payable | 47/48 | €51,992 | €36,317 | -€15,675 | -30.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,866 | €1,859 | -€7 | -0.4% |
| Other operating charges | 640/8 | €918 | €1,011 | +€93 | +10.1% |
| Non-recurring operating charges | 66A | €534 | €169 | -€364 | -68.2% |
| Gross operating margin | 9900 | €73,010 | €103,553 | +€30,544 | +41.8% |
| Operating profit (loss) | 9901 | €69,692 | €100,513 | +€30,821 | +44.2% |
| Financial income | 75/76B | €7,129 | €165 | -€6,965 | -97.7% |
| Recurring financial income | 75 | €7,129 | €165 | -€6,965 | -97.7% |
| Financial charges | 65/66B | €1,588 | €1,113 | -€475 | -29.9% |
| Recurring financial charges | 65 | €1,588 | €1,113 | -€475 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | €75,233 | €99,565 | +€24,332 | +32.3% |
| Income taxes | 67/77 | €15,050 | €21,399 | +€6,349 | +42.2% |
| Profit (loss) for the period | 9904 | €60,183 | €78,166 | +€17,983 | +29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €60,183 | €78,166 | +€17,983 | +29.9% |
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 10 October 2026 via checked.be.