DENIS PLAFONNAGE: 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.
DENIS PLAFONNAGE
Largest movements
- Cash +€110,262
up €110,262 (+44.8%), from €246,012 to €356,274
mainly Net result for the year (+€98,486) and Other debts (+€47,211)
- Receivables within one year -€16,624
down €16,624 (-22.4%), from €74,315 to €57,691
of which Trade receivables: -€12,361
- Tangible fixed assets -€15,475
down €15,475 (-33.4%), from €46,395 to €30,920
of which Furniture and vehicles: -€15,475
- Other debts +€47,211
up €47,211 (+45.6%), from €103,447 to €150,659
- Reserves +€26,900
up €26,900 (+18.2%), from €148,143 to €175,043
- Debts after one year -€10,750
down €10,750 (-43.5%), from €24,692 to €13,943
- Tax, wage and social debts +€10,315
up €10,315 (+50.5%), from €20,407 to €30,722
- Current portion of long-term debt +€9,189
up €9,189 (+65.3%), from €14,081 to €23,269
- Gross operating margin +€31,598
up €31,598 (+25.8%), from €122,651 to €154,249
- Staff costs +€13,615
new in 2025: €13,615
- Taxes +€3,984
up €3,984 (+19.5%), from €20,407 to €24,391
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 | €370,721 | €449,582 | +€78,861 | +21.3% |
| Fixed assets | 21/28 | €48,103 | €32,627 | -€15,475 | -32.2% |
| Tangible fixed assets | 22/27 | €46,395 | €30,920 | -€15,475 | -33.4% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €46,395 | €30,920 | -€15,475 | -33.4% |
| Financial fixed assets | 28 | €1,707 | €1,707 | = | 0.0% |
| Current assets | 29/58 | €322,618 | €416,955 | +€94,337 | +29.2% |
| Amounts receivable within one year | 40/41 | €74,315 | €57,691 | -€16,624 | -22.4% |
| Trade receivables | 40 | €55,602 | €43,241 | -€12,361 | -22.2% |
| Other amounts receivable | 41 | €18,713 | €14,449 | -€4,263 | -22.8% |
| Cash at bank and in hand | 54/58 | €246,012 | €356,274 | +€110,262 | +44.8% |
| Deferred charges and accrued income | 490/1 | €2,292 | €2,990 | +€699 | +30.5% |
| Total equity and liabilities | 10/49 | €370,721 | €449,582 | +€78,861 | +21.3% |
| Equity | 10/15 | €186,551 | €215,937 | +€29,386 | +15.8% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €148,143 | €175,043 | +€26,900 | +18.2% |
| Distributable reserves | 133 | €148,143 | €175,043 | +€26,900 | +18.2% |
| Profit (loss) carried forward | 14 | €30,349 | €32,834 | +€2,486 | +8.2% |
| Amounts payable | 17/49 | €184,170 | €233,646 | +€49,476 | +26.9% |
| Amounts payable after more than one year | 17 | €24,692 | €13,943 | -€10,750 | -43.5% |
| Financial debts | 170/4 | €24,692 | €13,943 | -€10,750 | -43.5% |
| Amounts payable within one year | 42/48 | €159,477 | €219,703 | +€60,226 | +37.8% |
| Current portion of amounts payable after more than one year | 42 | €14,081 | €23,269 | +€9,189 | +65.3% |
| Trade debts | 44 | €21,542 | €15,053 | -€6,490 | -30.1% |
| Suppliers | 440/4 | €21,542 | €15,053 | -€6,490 | -30.1% |
| Taxes, remuneration and social security | 45 | €20,407 | €30,722 | +€10,315 | +50.5% |
| Taxes | 450/3 | €20,407 | €30,722 | +€10,315 | +50.5% |
| Other amounts payable | 47/48 | €103,447 | €150,659 | +€47,211 | +45.6% |
| Non-recurring operating income | 76A | €1,000 | - | -€1,000 | |
| Remuneration, social security and pensions | 62 | - | €13,615 | +€13,615 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,523 | €15,475 | +€952 | +6.6% |
| Other operating charges | 640/8 | €969 | €913 | -€56 | -5.8% |
| Gross operating margin | 9900 | €122,651 | €154,249 | +€31,598 | +25.8% |
| Operating profit (loss) | 9901 | €107,159 | €124,245 | +€17,086 | +15.9% |
| Financial charges | 65/66B | €1,711 | €1,369 | -€342 | -20.0% |
| Recurring financial charges | 65 | €1,711 | €1,369 | -€342 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €105,448 | €122,876 | +€17,428 | +16.5% |
| Income taxes | 67/77 | €20,407 | €24,391 | +€3,984 | +19.5% |
| Profit (loss) for the period | 9904 | €85,041 | €98,486 | +€13,445 | +15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €85,041 | €98,486 | +€13,445 | +15.8% |
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 27 October 2026 via checked.be.