DEBDES: what changed
DEBDES
Largest movements
- Tangible fixed assets +€55,822
up €55,822 (+10.7%), from €521,591 to €577,413
of which Land and buildings: +€63,272
- Receivables within one year +€47,996
up €47,996 (+6,855%), from €700 to €48,696
of which Other amounts receivable: +€44,971
- Receivables after one year -€45,862
no longer reported in 2025 (was €45,862)
- Cash +€33,342
up €33,342 (+9.1%), from €367,129 to €400,471
mainly Net result for the year (+€198,848) and Receivables after one year (+€45,862)
- Reserves +€143,848
up €143,848 (+41.1%), from €350,339 to €494,187
of which Distributable reserves: +€143,848
- Other debts -€43,574
down €43,574 (-13.1%), from €331,398 to €287,823
- Tax, wage and social debts +€30,896
up €30,896 (+77.0%), from €40,150 to €71,046
- Debts after one year -€28,549
down €28,549 (-7.3%), from €388,588 to €360,039
- Gross operating margin +€33,596
up €33,596 (+12.5%), from €268,643 to €302,239
- Taxes +€10,149
up €10,149 (+19.4%), from €52,322 to €62,471
- Depreciation +€7,348
up €7,348 (+22.8%), from €32,186 to €39,534
- Financial income +€5,143
up €5,143 (+377%), from €1,364 to €6,508
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,156,182 | €1,249,071 | +€92,889 | +8.0% |
| Fixed assets | 21/28 | €741,591 | €797,413 | +€55,822 | +7.5% |
| Tangible fixed assets | 22/27 | €521,591 | €577,413 | +€55,822 | +10.7% |
| Land and buildings | 22 | €510,845 | €574,118 | +€63,272 | +12.4% |
| Plant, machinery and equipment | 23 | - | €2,469 | +€2,469 | |
| Furniture and vehicles | 24 | €10,746 | €827 | -€9,919 | -92.3% |
| Financial fixed assets | 28 | €220,000 | €220,000 | = | 0.0% |
| Current assets | 29/58 | €414,591 | €451,658 | +€37,068 | +8.9% |
| Amounts receivable after more than one year | 29 | €45,862 | - | -€45,862 | |
| Other amounts receivable | 291 | €45,862 | - | -€45,862 | |
| Amounts receivable within one year | 40/41 | €700 | €48,696 | +€47,996 | +6,855% |
| Trade receivables | 40 | - | €3,025 | +€3,025 | |
| Other amounts receivable | 41 | €700 | €45,671 | +€44,971 | +6,423% |
| Cash at bank and in hand | 54/58 | €367,129 | €400,471 | +€33,342 | +9.1% |
| Deferred charges and accrued income | 490/1 | €899 | €2,492 | +€1,592 | +177% |
| Total equity and liabilities | 10/49 | €1,156,182 | €1,249,071 | +€92,889 | +8.0% |
| Equity | 10/15 | €356,539 | €500,387 | +€143,848 | +40.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €350,339 | €494,187 | +€143,848 | +41.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,491 | €2,491 | = | 0.0% |
| Distributable reserves | 133 | €345,988 | €489,836 | +€143,848 | +41.6% |
| Amounts payable | 17/49 | €799,643 | €748,684 | -€50,958 | -6.4% |
| Amounts payable after more than one year | 17 | €388,588 | €360,039 | -€28,549 | -7.3% |
| Financial debts | 170/4 | €388,588 | €360,039 | -€28,549 | -7.3% |
| Amounts payable within one year | 42/48 | €411,055 | €388,646 | -€22,409 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €35,503 | €28,549 | -€6,954 | -19.6% |
| Trade debts | 44 | €4,004 | €1,228 | -€2,776 | -69.3% |
| Suppliers | 440/4 | €4,004 | €1,228 | -€2,776 | -69.3% |
| Taxes, remuneration and social security | 45 | €40,150 | €71,046 | +€30,896 | +77.0% |
| Taxes | 450/3 | €40,150 | €71,046 | +€30,896 | +77.0% |
| Other amounts payable | 47/48 | €331,398 | €287,823 | -€43,574 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,186 | €39,534 | +€7,348 | +22.8% |
| Other operating charges | 640/8 | €3,513 | €691 | -€2,822 | -80.3% |
| Gross operating margin | 9900 | €268,643 | €302,239 | +€33,596 | +12.5% |
| Operating profit (loss) | 9901 | €232,943 | €262,013 | +€29,070 | +12.5% |
| Financial income | 75/76B | €1,364 | €6,508 | +€5,143 | +377% |
| Recurring financial income | 75 | €1,364 | €6,508 | +€5,143 | +377% |
| Financial charges | 65/66B | €9,920 | €7,203 | -€2,717 | -27.4% |
| Recurring financial charges | 65 | €9,920 | €7,160 | -€2,760 | -27.8% |
| Non-recurring financial charges | 66B | - | €43 | +€43 | |
| Profit (loss) for the period before taxes | 9903 | €224,388 | €261,318 | +€36,930 | +16.5% |
| Income taxes | 67/77 | €52,322 | €62,471 | +€10,149 | +19.4% |
| Profit (loss) for the period | 9904 | €172,066 | €198,848 | +€26,781 | +15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €172,066 | €198,848 | +€26,781 | +15.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.