DECAMEL: 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.
DECAMEL
Largest movements
- Cash -€185,145
down €185,145 (-48.6%), from €380,999 to €195,854
mainly Current investments (-€150,021) and Contributions, distributions and other (-€150,000)
- Current investments +€150,021
up €150,021 (+50.3%), from €298,471 to €448,492
- Tangible fixed assets -€87,398
down €87,398 (-4.7%), from €1.9m to €1.8m
of which Other tangible fixed assets: -€88,192
- Reserves -€144,111
down €144,111 (-7.9%), from €1.8m to €1.7m
of which Distributable reserves: -€109,873
- Gross operating margin -€7,721
down €7,721 (-3.7%), from €206,490 to €198,769
- Depreciation +€7,682
up €7,682 (+4.9%), from €156,827 to €164,509
- Taxes -€2,206
down €2,206 (-10.2%), from €21,590 to €19,384
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 | €2,581,301 | €2,435,236 | -€146,065 | -5.7% |
| Fixed assets | 21/28 | €1,872,642 | €1,784,839 | -€87,803 | -4.7% |
| Tangible fixed assets | 22/27 | €1,872,237 | €1,784,839 | -€87,398 | -4.7% |
| Plant, machinery and equipment | 23 | €1,608 | €1,699 | +€91 | +5.7% |
| Furniture and vehicles | 24 | €3,453 | €4,156 | +€703 | +20.4% |
| Other tangible fixed assets | 26 | €1,867,176 | €1,778,984 | -€88,192 | -4.7% |
| Financial fixed assets | 28 | €405 | - | -€405 | |
| Current assets | 29/58 | €708,659 | €650,397 | -€58,262 | -8.2% |
| Amounts receivable within one year | 40/41 | €24,199 | €947 | -€23,252 | -96.1% |
| Other amounts receivable | 41 | €24,199 | €947 | -€23,252 | -96.1% |
| Current investments | 50/53 | €298,471 | €448,492 | +€150,021 | +50.3% |
| Cash at bank and in hand | 54/58 | €380,999 | €195,854 | -€185,145 | -48.6% |
| Deferred charges and accrued income | 490/1 | €4,990 | €5,104 | +€114 | +2.3% |
| Total equity and liabilities | 10/49 | €2,581,301 | €2,435,236 | -€146,065 | -5.7% |
| Equity | 10/15 | €2,450,244 | €2,306,133 | -€144,111 | -5.9% |
| Contributions | 10/11 | €633,000 | €633,000 | = | 0.0% |
| Capital | 10 | €633,000 | €633,000 | = | 0.0% |
| Issued capital | 100 | €633,000 | €633,000 | = | 0.0% |
| Reserves | 13 | €1,817,244 | €1,673,133 | -€144,111 | -7.9% |
| Non-distributable reserves | 130/1 | €63,300 | €63,300 | = | 0.0% |
| Legal reserve | 130 | €63,300 | €63,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €127,795 | €93,557 | -€34,238 | -26.8% |
| Distributable reserves | 133 | €1,626,149 | €1,516,276 | -€109,873 | -6.8% |
| Provisions and deferred taxes | 16 | €111,606 | €100,193 | -€11,413 | -10.2% |
| Deferred taxes | 168 | €111,606 | €100,193 | -€11,413 | -10.2% |
| Amounts payable | 17/49 | €19,451 | €28,910 | +€9,459 | +48.6% |
| Amounts payable within one year | 42/48 | €8,939 | €15,800 | +€6,861 | +76.8% |
| Trade debts | 44 | €227 | €8,976 | +€8,749 | +3,854% |
| Suppliers | 440/4 | €227 | €8,976 | +€8,749 | +3,854% |
| Taxes, remuneration and social security | 45 | €8,712 | €6,824 | -€1,888 | -21.7% |
| Taxes | 450/3 | €8,712 | €6,824 | -€1,888 | -21.7% |
| Accrued charges and deferred income | 492/3 | €10,512 | €13,110 | +€2,598 | +24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €156,827 | €164,509 | +€7,682 | +4.9% |
| Other operating charges | 640/8 | €26,187 | €26,994 | +€807 | +3.1% |
| Gross operating margin | 9900 | €206,490 | €198,769 | -€7,721 | -3.7% |
| Operating profit (loss) | 9901 | €23,476 | €7,266 | -€16,210 | -69.0% |
| Financial income | 75/76B | €9,597 | €8,539 | -€1,058 | -11.0% |
| Recurring financial income | 75 | €9,597 | €8,539 | -€1,058 | -11.0% |
| Financial charges | 65/66B | €2,417 | €1,945 | -€472 | -19.5% |
| Recurring financial charges | 65 | €2,417 | €1,945 | -€472 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €30,656 | €13,860 | -€16,796 | -54.8% |
| Transfer from deferred taxes | 780 | €11,413 | €11,413 | = | 0.0% |
| Income taxes | 67/77 | €21,590 | €19,384 | -€2,206 | -10.2% |
| Profit (loss) for the period | 9904 | €20,479 | €5,889 | -€14,590 | -71.2% |
| Transfer from tax-exempt reserves | 789 | €34,238 | €34,238 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,717 | €40,127 | -€14,590 | -26.7% |
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 16 October 2026 via checked.be.