DEKODER: 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.
DEKODER
Largest movements
- Receivables within one year -€66,274
down €66,274 (-17.7%), from €374,152 to €307,878
of which Trade receivables: -€51,375
- Cash +€49,051
up €49,051 (+24.2%), from €203,073 to €252,124
mainly Receivables within one year (+€66,274) and Net result for the year (+€27,574)
- Financial fixed assets +€29,336
up €29,336 (+82.4%), from €35,600 to €64,936
- Current investments -€15,058
no longer reported in 2025 (was €15,058)
- Debts after one year -€28,482
down €28,482 (-9.7%), from €292,418 to €263,936
- Reserves +€27,574
up €27,574 (+13.4%), from €206,147 to €233,720
- Gross operating margin +€30,071
up €30,071 (+52.1%), from €57,771 to €87,842
- Other operating charges +€17,730
up €17,730 (+681%), from €2,604 to €20,334
- Depreciation +€11,162
up €11,162 (+85.0%), from €13,128 to €24,290
- Financial charges +€9,227
up €9,227 (+924%), from €999 to €10,226
- Financial income +€2,283
up €2,283 (+68.2%), from €3,348 to €5,631
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 | €1,239,815 | €1,249,876 | +€10,061 | +0.8% |
| Fixed assets | 21/28 | €634,775 | €675,465 | +€40,690 | +6.4% |
| Tangible fixed assets | 22/27 | €599,175 | €610,529 | +€11,354 | +1.9% |
| Land and buildings | 22 | €570,141 | €558,474 | -€11,667 | -2.0% |
| Plant, machinery and equipment | 23 | €17,914 | €45,260 | +€27,346 | +153% |
| Furniture and vehicles | 24 | €11,120 | €6,279 | -€4,842 | -43.5% |
| Other tangible fixed assets | 26 | - | €516 | +€516 | |
| Financial fixed assets | 28 | €35,600 | €64,936 | +€29,336 | +82.4% |
| Current assets | 29/58 | €605,040 | €574,411 | -€30,629 | -5.1% |
| Amounts receivable within one year | 40/41 | €374,152 | €307,878 | -€66,274 | -17.7% |
| Trade receivables | 40 | €274,606 | €223,231 | -€51,375 | -18.7% |
| Other amounts receivable | 41 | €99,546 | €84,647 | -€14,900 | -15.0% |
| Current investments | 50/53 | €15,058 | - | -€15,058 | |
| Cash at bank and in hand | 54/58 | €203,073 | €252,124 | +€49,051 | +24.2% |
| Deferred charges and accrued income | 490/1 | €12,757 | €14,409 | +€1,652 | +13.0% |
| Total equity and liabilities | 10/49 | €1,239,815 | €1,249,876 | +€10,061 | +0.8% |
| Equity | 10/15 | €889,406 | €916,980 | +€27,574 | +3.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €206,147 | €233,720 | +€27,574 | +13.4% |
| Distributable reserves | 133 | €206,147 | €233,720 | +€27,574 | +13.4% |
| Profit (loss) carried forward | 14 | €670,859 | €670,859 | = | 0.0% |
| Amounts payable | 17/49 | €350,409 | €332,897 | -€17,513 | -5.0% |
| Amounts payable after more than one year | 17 | €292,418 | €263,936 | -€28,482 | -9.7% |
| Financial debts | 170/4 | €292,418 | €263,936 | -€28,482 | -9.7% |
| Amounts payable within one year | 42/48 | €57,725 | €67,855 | +€10,130 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €27,582 | €28,482 | +€900 | +3.3% |
| Trade debts | 44 | €1,150 | €1,859 | +€709 | +61.6% |
| Suppliers | 440/4 | €1,150 | €1,859 | +€709 | +61.6% |
| Taxes, remuneration and social security | 45 | €14,312 | €20,933 | +€6,621 | +46.3% |
| Taxes | 450/3 | €10,062 | €16,683 | +€6,621 | +65.8% |
| Remuneration and social security | 454/9 | €4,250 | €4,250 | = | 0.0% |
| Other amounts payable | 47/48 | €14,681 | €16,581 | +€1,900 | +12.9% |
| Accrued charges and deferred income | 492/3 | €266 | €1,105 | +€839 | +316% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,128 | €24,290 | +€11,162 | +85.0% |
| Other operating charges | 640/8 | €2,604 | €20,334 | +€17,730 | +681% |
| Gross operating margin | 9900 | €57,771 | €87,842 | +€30,071 | +52.1% |
| Operating profit (loss) | 9901 | €42,039 | €43,218 | +€1,180 | +2.8% |
| Financial income | 75/76B | €3,348 | €5,631 | +€2,283 | +68.2% |
| Recurring financial income | 75 | €3,348 | €5,631 | +€2,283 | +68.2% |
| Financial charges | 65/66B | €999 | €10,226 | +€9,227 | +924% |
| Recurring financial charges | 65 | €999 | €10,226 | +€9,227 | +924% |
| Profit (loss) for the period before taxes | 9903 | €44,388 | €38,623 | -€5,764 | -13.0% |
| Income taxes | 67/77 | €11,271 | €11,050 | -€221 | -2.0% |
| Profit (loss) for the period | 9904 | €33,117 | €27,574 | -€5,543 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €33,117 | €27,574 | -€5,543 | -16.7% |
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 24 October 2026 via checked.be.