DE SCHUTTER: 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 SCHUTTER
Largest movements
- Tangible fixed assets +€2.5m
up €2.5m (+174.0%), from €1.5m to €4.0m
of which Land and buildings: +€2.6m
- Cash +€559,158
up €559,158 (+356.3%), from €156,916 to €716,073
mainly Debts after one year (+€2.5m) and Trade debts (+€420,376)
- Debts after one year +€2.5m
up €2.5m (+340.5%), from €746,231 to €3.3m
- Trade debts +€420,376
up €420,376 (+76.7%), from €547,959 to €968,335
- Reserves +€118,426
up €118,426 (+25.9%), from €458,048 to €576,473
of which Distributable reserves: +€118,426
- Other debts -€64,055
down €64,055 (-14.5%), from €441,403 to €377,349
- Current portion of long-term debt +€59,771
up €59,771 (+80.7%), from €74,084 to €133,855
- Taxes -€32,226
down €32,226 (-72.3%), from €44,544 to €12,318
- Financial charges +€16,051
up €16,051 (+33.1%), from €48,447 to €64,498
- Depreciation +€13,392
up €13,392 (+9.8%), from €137,294 to €150,686
- Staff costs -€8,860
down €8,860 (-14.7%), from €60,120 to €51,260
- Other operating charges +€8,056
up €8,056 (+34.6%), from €23,307 to €31,362
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 | €2,435,414 | €5,503,942 | +€3.1m | +126.0% |
| Fixed assets | 21/28 | €1,484,323 | €4,016,328 | +€2.5m | +170.6% |
| Intangible fixed assets | 21 | €20,000 | €10,000 | -€10,000 | -50.0% |
| Tangible fixed assets | 22/27 | €1,460,573 | €4,002,577 | +€2.5m | +174.0% |
| Land and buildings | 22 | €1,209,699 | €3,773,883 | +€2.6m | +212.0% |
| Plant, machinery and equipment | 23 | €91,275 | €106,071 | +€14,796 | +16.2% |
| Furniture and vehicles | 24 | €159,599 | €122,623 | -€36,976 | -23.2% |
| Financial fixed assets | 28 | €3,750 | €3,750 | = | 0.0% |
| Current assets | 29/58 | €951,091 | €1,487,615 | +€536,524 | +56.4% |
| Stocks and contracts in progress | 3 | €440,115 | €419,367 | -€20,748 | -4.7% |
| Stocks | 30/36 | €440,115 | €419,367 | -€20,748 | -4.7% |
| Amounts receivable within one year | 40/41 | €348,417 | €344,328 | -€4,090 | -1.2% |
| Trade receivables | 40 | €342,209 | €320,893 | -€21,316 | -6.2% |
| Other amounts receivable | 41 | €6,209 | €23,435 | +€17,226 | +277.5% |
| Cash at bank and in hand | 54/58 | €156,916 | €716,073 | +€559,158 | +356.3% |
| Deferred charges and accrued income | 490/1 | €5,643 | €7,847 | +€2,204 | +39.1% |
| Total equity and liabilities | 10/49 | €2,435,414 | €5,503,942 | +€3.1m | +126.0% |
| Equity | 10/15 | €587,055 | €705,481 | +€118,426 | +20.2% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €458,048 | €576,473 | +€118,426 | +25.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €458,048 | €576,473 | +€118,426 | +25.9% |
| Profit (loss) carried forward | 14 | €89,007 | €89,007 | = | 0.0% |
| Amounts payable | 17/49 | €1,848,359 | €4,798,462 | +€3.0m | +159.6% |
| Amounts payable after more than one year | 17 | €746,231 | €3,286,929 | +€2.5m | +340.5% |
| Financial debts | 170/4 | €746,231 | €3,286,929 | +€2.5m | +340.5% |
| Amounts payable within one year | 42/48 | €1,084,425 | €1,511,533 | +€427,108 | +39.4% |
| Current portion of amounts payable after more than one year | 42 | €74,084 | €133,855 | +€59,771 | +80.7% |
| Trade debts | 44 | €547,959 | €968,335 | +€420,376 | +76.7% |
| Suppliers | 440/4 | €547,959 | €968,335 | +€420,376 | +76.7% |
| Advances received on contracts in progress | 46 | €465 | €469 | +€4 | +0.9% |
| Taxes, remuneration and social security | 45 | €20,514 | €31,525 | +€11,011 | +53.7% |
| Taxes | 450/3 | €9,551 | €20,188 | +€10,637 | +111.4% |
| Remuneration and social security | 454/9 | €10,963 | €11,337 | +€374 | +3.4% |
| Other amounts payable | 47/48 | €441,403 | €377,349 | -€64,055 | -14.5% |
| Accrued charges and deferred income | 492/3 | €17,703 | €0 | -€17,703 | -100.0% |
| Non-recurring operating income | 76A | €5,500 | €10,000 | +€4,500 | +81.8% |
| Remuneration, social security and pensions | 62 | €60,120 | €51,260 | -€8,860 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,294 | €150,686 | +€13,392 | +9.8% |
| Other operating charges | 640/8 | €23,307 | €31,362 | +€8,056 | +34.6% |
| Gross operating margin | 9900 | €420,488 | €428,027 | +€7,539 | +1.8% |
| Operating profit (loss) | 9901 | €199,767 | €194,718 | -€5,049 | -2.5% |
| Financial income | 75/76B | €2,321 | €524 | -€1,798 | -77.4% |
| Recurring financial income | 75 | €964 | €524 | -€440 | -45.7% |
| Non-recurring financial income | 76B | €1,357 | €0 | -€1,357 | -100.0% |
| Financial charges | 65/66B | €48,447 | €64,498 | +€16,051 | +33.1% |
| Recurring financial charges | 65 | €48,447 | €64,498 | +€16,051 | +33.1% |
| Profit (loss) for the period before taxes | 9903 | €153,642 | €130,744 | -€22,898 | -14.9% |
| Income taxes | 67/77 | €44,544 | €12,318 | -€32,226 | -72.3% |
| Profit (loss) for the period | 9904 | €109,098 | €118,426 | +€9,328 | +8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €109,098 | €118,426 | +€9,328 | +8.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.