De Witte - De Sutter: 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 Witte - De Sutter
Largest movements
- Tangible fixed assets +€766,386
up €766,386 (+88.1%), from €870,161 to €1.6m
of which Land and buildings: +€690,797
- Cash -€226,188
down €226,188 (-39.2%), from €576,785 to €350,597
mainly Investment in fixed assets (net) (-€872,184) and Net result for the year (-€75,994)
- Receivables within one year +€53,925
up €53,925 (+30.4%), from €177,242 to €231,167
of which Trade receivables: +€33,350
- Debts after one year +€510,021
up €510,021 (+80.6%), from €632,660 to €1.1m
- Trade debts +€104,351
up €104,351 (+78.0%), from €133,779 to €238,130
- Reserves -€75,994
down €75,994 (-8.6%), from €887,971 to €811,978
- Current portion of long-term debt +€30,111
up €30,111 (+61.2%), from €49,221 to €79,332
- Gross operating margin -€38,967
down €38,967 (-8.9%), from €436,312 to €397,344
- Depreciation +€32,095
up €32,095 (+43.5%), from €73,704 to €105,798
- Staff costs +€22,825
up €22,825 (+7.9%), from €289,785 to €312,609
- Financial charges +€13,003
up €13,003 (+32.6%), from €39,859 to €52,862
- Taxes -€7,334
down €7,334 (-95.5%), from €7,678 to €343
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 | €1,876,216 | €2,452,096 | +€575,880 | +30.7% |
| Fixed assets | 21/28 | €870,161 | €1,636,546 | +€766,386 | +88.1% |
| Tangible fixed assets | 22/27 | €870,161 | €1,636,546 | +€766,386 | +88.1% |
| Land and buildings | 22 | €778,742 | €1,469,539 | +€690,797 | +88.7% |
| Plant, machinery and equipment | 23 | €25,370 | €106,283 | +€80,913 | +319% |
| Furniture and vehicles | 24 | €56,785 | €52,490 | -€4,295 | -7.6% |
| Other tangible fixed assets | 26 | €9,264 | €8,235 | -€1,029 | -11.1% |
| Current assets | 29/58 | €1,006,055 | €815,550 | -€190,505 | -18.9% |
| Amounts receivable after more than one year | 29 | €198 | €198 | = | 0.0% |
| Other amounts receivable | 291 | €198 | €198 | = | 0.0% |
| Stocks and contracts in progress | 3 | €242,244 | €220,299 | -€21,945 | -9.1% |
| Stocks | 30/36 | €242,244 | €220,299 | -€21,945 | -9.1% |
| Amounts receivable within one year | 40/41 | €177,242 | €231,167 | +€53,925 | +30.4% |
| Trade receivables | 40 | €169,848 | €203,198 | +€33,350 | +19.6% |
| Other amounts receivable | 41 | €7,394 | €27,968 | +€20,574 | +278% |
| Cash at bank and in hand | 54/58 | €576,785 | €350,597 | -€226,188 | -39.2% |
| Deferred charges and accrued income | 490/1 | €9,586 | €13,289 | +€3,703 | +38.6% |
| Total equity and liabilities | 10/49 | €1,876,216 | €2,452,096 | +€575,880 | +30.7% |
| Equity | 10/15 | €890,450 | €814,456 | -€75,994 | -8.5% |
| Contributions | 10/11 | €2,479 | €2,479 | = | 0.0% |
| Reserves | 13 | €887,971 | €811,978 | -€75,994 | -8.6% |
| Distributable reserves | 133 | €887,971 | €811,978 | -€75,994 | -8.6% |
| Amounts payable | 17/49 | €985,765 | €1,637,639 | +€651,874 | +66.1% |
| Amounts payable after more than one year | 17 | €632,660 | €1,142,681 | +€510,021 | +80.6% |
| Financial debts | 170/4 | €632,660 | €1,142,681 | +€510,021 | +80.6% |
| Amounts payable within one year | 42/48 | €337,283 | €480,536 | +€143,254 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | €49,221 | €79,332 | +€30,111 | +61.2% |
| Trade debts | 44 | €133,779 | €238,130 | +€104,351 | +78.0% |
| Suppliers | 440/4 | €133,779 | €238,130 | +€104,351 | +78.0% |
| Taxes, remuneration and social security | 45 | €52,430 | €44,898 | -€7,532 | -14.4% |
| Taxes | 450/3 | €15,398 | €6,181 | -€9,217 | -59.9% |
| Remuneration and social security | 454/9 | €37,031 | €38,717 | +€1,685 | +4.6% |
| Other amounts payable | 47/48 | €101,854 | €118,176 | +€16,323 | +16.0% |
| Accrued charges and deferred income | 492/3 | €15,823 | €14,423 | -€1,400 | -8.8% |
| Remuneration, social security and pensions | 62 | €289,785 | €312,609 | +€22,825 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,704 | €105,798 | +€32,095 | +43.5% |
| Other operating charges | 640/8 | €4,415 | €4,195 | -€220 | -5.0% |
| Gross operating margin | 9900 | €436,312 | €397,344 | -€38,967 | -8.9% |
| Operating profit (loss) | 9901 | €68,408 | -€25,258 | -€93,666 | |
| Financial income | 75/76B | €5,070 | €2,469 | -€2,601 | -51.3% |
| Recurring financial income | 75 | €5,070 | €2,469 | -€2,601 | -51.3% |
| Financial charges | 65/66B | €39,859 | €52,862 | +€13,003 | +32.6% |
| Recurring financial charges | 65 | €39,859 | €52,862 | +€13,003 | +32.6% |
| Profit (loss) for the period before taxes | 9903 | €33,620 | -€75,651 | -€109,270 | |
| Income taxes | 67/77 | €7,678 | €343 | -€7,334 | -95.5% |
| Profit (loss) for the period | 9904 | €25,942 | -€75,994 | -€101,936 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,942 | -€75,994 | -€101,936 |
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 18 October 2026 via checked.be.